veher Ground, Cafe Higher Ground Caf & Roastery V.2019 OBJECTIVES Final Project In this project, you will be entering transactions for Higher Grounds Caf & Roastery. The company file has already been set up; please follow your instructor's direction on how to find and open the company data file. COMPANY INFORMATION & providing fresh Certified Fair Trade, organic and premium coffee products. Located in Windsor, Ontario it is owned and managed by Barry Beane. At Higher Grounds, all of their products are organic grown without any synthetic fertilizers, herbicides or pesticides. Healthier soil and waters offered to growing produce, in turn means healthier consumers. The downtown caf and roastery located on the riverfront and is decorated in a comfortable lounge style, displaying the art of local artists, provides free Wi-Fi and also supports the local music scene with weekly Open Mic nights. Higher Grounds Caf & Roastery, essentially a coffee house provides baked goods and lights lunches organic and fair trade teas and cocoa and other beverages including local wines and beers are also available. Catering service is also available, offering dessert and sandwich trays as well as thermos service for local businesses. Barry Beane manages the day to day activities of the caf and has an assistant manager along with trained baristas. He has accounts set up with regular vendors, as well utility service companies and government agencies to which Higher Grounds makes remittances. Some of his vendors offer discounts for early payment The majority of customers are one-time customers who pay by cash or credit card, some repeat customers have accounts and are entitled to a 2 percent discount if they pay within five days; net payment is due within 10 days. Higher Grounds does not pay HST on its food and beverage purchases, but purchases of other merchandise is subject to HST. HST at 13 percent is charged on food and merchandise that is sold 1 CHART OF ACCOUNTS ASSETS Current Assets Long-Term Liabilities 1020 Undeposited Cash and Cheques 2920 Mortgage Payable 1030 Bank: Chequing EQUITY 1040 Bank: Credit Cards 1200 Accounts Receivable 3100 R. Beane, Capital 1220 Packaging Supplies 3150 R. Beane, Drawings 1240 Office Supplies 3600 Net Income 1260 Prepaid Insurance REVENUE Inventory Assets 4020 Sales revenue 1310 Coffee and Tea 4030 Sales Returns & Allowances 1320 Beverage 1340 Food 4050 Sales Discounts 1360 Merchandise 4100 Sales Tax Compensation Fixed Assets 4150 Interest Revenue 1410 Computer Equipment EXPENSES 1415 Acc. Dep: Computer Equipment Operating Expenses 1420 Net Computer Equipment 5020 Advertising 1430 Caf Equipment 5030 Bank Charges 1440 Acc. Dep: Caf Equipment 1450 Net Caf Equipment 5040 Credit Card Fees 1460 Furniture and Fixtures 5045 Reconciliation Adjustments 1470 Ace Dep: Furniture and Fixtures SOSO Purchase Discounts 1480 Net Furniture and Fixtures 5060 Cost of Goods Sold 1500 Vehicle 5080 Item Assembly Costs 1510 Acc. Dep: Vehicle 5100 Inventory losses 1520 Net Vehicle 1530 Caf Premises 5120 Utilities Expense 1540 Acc. Dep: Caf Premises 5140 Telephone Expense 1550 Net Caf Premises 5160 Licenses and Permits 5180 Depreciation Expense LIABILITIES 5210 Insurance Expense Current Liabilities 5220 Interest Expense 2100 Bank Loan 5240 Cleaning and Maintenance 2200 Accounts Payable 5250 Vehicle Expense 2220 Credit Card Payable 5260 Packaging Supplies Used 2300 Salaries & Wages Payable 5280 Office Supplies Used 2310 Vacation Payable 5290 Property Taxes 2320 El Payable 2330 CPP Payable EXPENSES 2340 Income Tax Payable Payroll Expenses 2400 RRSP Payable 5300 Salaries & Wages Expense 2420 Group Insurance Payable 5310 El Expense 2460 WSIB Payable 5320 CPP Expense 2650 HST Charged on Sales 5330 WSIB Expense 2670 HST Paid on Purchases 5400 Group Insurance Expense 2750 HST Owing (Refund) 2 POST CLOSE TRIAL BALANCE February 1, Debits Credits 15.482 5,325 639 500 200 2,200 5,955 3.500 500 967 5,000 1.200 20,000 200,000 3,500 40,000 50,000 10,000 1030 Bank: Chequing 1040 Bank: Credit Cards 1200 Accounts Receivable 1220 Packaging Supplies 1240 Office Supplies 1260 Prepaid Insurance 1300 Coffee and Tea 1320 Beverage 1340 Food 1360 Merchandise 1400 Computer Equipment 1410 Acc. Dep: Computer Equipment 1430 Caf Equipment 1440 Acc. Dep: Caf Equipment 1530 Cafe Premises 1540 Acc. Dep: Caf Premises 1500 Vehicle 1510 Acc. Dep: Vehicle 1460 Furniture and Fixtures 1470 Acc. Dep: Furniture and Fixtures 2100 Bank Loan 2200 Accounts Payable 2220 Credit Card Payable 2300 Salaries & Wages Payable 2310 Vacation Payable 2320 El Payable 2330 CPP Payable 2340 Income Tax Payable 2400 RRSP Payable 2420 Group Insurance Payable 2460 WSIB Payable 2650 HST Charged on Sales 2670 HST Paid on Purchases 2920 Mortgage Payable 3100 R. Beane, Capital 25,000 5,000 15,000 3,731 181 4,845 345 180,000 22.156 $335,613 $335.613 3 VENDOR INFORMATION Outstanding Balance Vendor Name Bell Canada Ambassador Cleaning Services Coffee Cooperative $1,695 Essex Food Supplies $ 800 Ministry of Finance Address P.O. Box 9000 Don Mills, ON MSN 352 1535 Bridge Drive Windsor, ON N9S 1G8 1755 Arabica Way Toronto, ON MSN 731 650 Baker Rd Windsor, ON N8B 1K1 613 Queens Blvd Ottawa, ON K35 3H5 P.O. Box 8500 Chatham, ON N3A 5L9 P.O. Box 3500 Windsor, ON NIS 4G8 93 Cassoulet Ave Mississauga, ON L7K 151 2350 Oceanside Drive Vancouver, BC VSK 2A3 ON Gas ON Hydro Ontario Food Equipment Orient Express Tea Co. $ 510 Receiver General for Canada River City Gift Co Sunrise Distributors $ 726 320 Bestbuy Dr Windsor, ON NBA 182 475 Kings Road Erie Shores, ON N7N 3P2 P.O. Box 2099 Windsor, ON N9A 787 Grand Total WSIB $ 3,731 CUSTOMER INFORMATION Address Outstanding Balance Customer Name Cash Customers Lockhart, Gardner & Bond Mainstream Marketing 63 Park Avenue Windsor, ON NSJ 2M2 725 Main Street Windsor, ON NSK 419 33 Riverview East Windsor, ON NGK BA1 Grand Total $ 294 $ 345 River City Credit Union $ 639 EMPLOYEE INFORMATION Rate Employee SIN Salary/Wage Position Pay Periodhrs) Mario Macchiato 403 599 401 Asst. Manager $4,000 Monthly(160) Joe Cappa 588 374 127 Head Barista $20.00/hr Semi-monthly(80) Bloom Moka 513 191 282 Barista/Server $18.00/hr Semi-monthly(80) Coco Lait 277 639 119 Server $16.00/hr Semi-monthly(40) Vienna Frappe 813 402 302 Barista/Server $18.00/hr Semi-monthly(80) In lieu of a salary Barry Beane draws $5,000 per month Employee Benefits and Entitlements All full time employees are entitled to 10 days per year as sick leave. When employees take their vacation salaried employees receive their regular salary and hourly workers receive the retained vacation pay Higher Grounds pays 50 percent of the medical premiums for an extended health care insurance plan. This is taxable income for the employee. All employees are single and claim the basic federal and provincial amounts for income tax purposes. All salaried and fulltime staff pay into the extended health care plan at the single rate and also make RRSP contributions Mario Macchiato, the Assistant manager receives his salary at the end of the month and is entitled to 3 weeks of vacation per year. For the other employees who are paid an hourly rate Vacation pay is calculated and retained at 4 percent. 5 INVENTORY INFORMATION Code Description Min Stock Selling Price Unit Qty on Hand Total (Cost) $ 150 563 188 625 225 750 250 813 213 Coffee and Tea Inventory CF01 Rainforest Blend 11b CFO2 Rainforest Blend Sib CF03 Guatemalan lib CF04 Guatemalan 5lb CFOS Kenyan 11b CF06 Kenyan Sib CF07 Blue Mountain 11b CF08 Blue Mountain Sib CF09 Sumatra llb CF10 Sumatra Sib TE01 Herbal Blends 4oz TEO2 Herbal Blends 1 lb TE03 Green 4oz TE04 Green Ilb TEOS Black 402 TE06 Black lib TE07 Chal 4oz TEOS Chai 1lb C001 Cocoa Powder 1b $ 12 Each 45 Each 15 Each 50 Each 18 Each 60 Each 20 Each 65 Each 17 Each 55 Each 7 Each 20 Each 8 Each 18 Each 9 Each 25 Each 7 Each 15 Each 10 Each 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 688 88 250 100 225 113 313 88 188 125 Merchandise Inventory MC01 Higher Grounds Coffee Mugs MCO2 Ceramic Travel Mug MCO3 French Coffee Press 4 cup MC04 French Coffee Press 8 cup MCOS Coffee Grinder MT01 Glass Teapots MTO2 Ceramic Cups 8oz $9 Each 12 Each 16 Each 20 Each 65 Each 35 Each 7 Each 20 20 10 10 4 12 12 $ 113 150 100 125 163 263 53 Accounting Procedures Harmonized Sales Tax (HST) Higher Grounds uses the regular method for calculating and remitting the HST. All items sold have HST added to them. At the end of each quarter, the HST liability to the Receiver General is reduced by any HST paid to suppliers on purchases. Beverage and food supplies are zero rated. The HST Owing (Refund) account shows the amount of HST that is to be remitted to the Receiver General. Sales All customers pay by cash, cheque or credit card. The majority of customers are one time customers who pay by cash or credit card. Higher Grounds allows repeat catering customers to pay on account. Cash and credit card sales are presented as weekly summaries to avoid a large number of small revenue transactions. Credit Card Sales and Purchases Higher Grounds has accounts set up for credit card sales and purchase transactions Receipts and Bank Deposits All cash and cheques received are held for weekly deposits in the temporary bank account Undeposited Cash and Cheques OR will be deposited straight into bank chequing account. Pay careful attention to the instructions. Discounts Higher Grounds takes advantage of discounts for early payment, offered by suppliers, by paying before the discount period ends. Higher Grounds also encourage their customers to pay early by offering a 2 percent discount on before tax amounts if they pay their accounts within five days. Gift Packages Higher Grounds offers an assortment of promotional gift packages that include teas and coffees and accessories. When assembled, these packages require some special packaging material such as baskets, boxes, cellophanes and ribbons which incur additional costs INSTRUCTIONS Enter the source documents for February in Simply Accounting, using the Chart of Accounts, Trial Balance, Supplier, Customer, Employee and Inventory Information provided Export as a PDF and e-mail the following reports to your instructor All Journal Entries: Feb 1-28, 2019 (optional) Income Statement (Standard) from Feb 1-28, 2019 Balance Sheet (Standard) at Feb 28, 2019 Customer Aged Detail at Feb 28, 2019 Vendor Aged Summary at Feb 28, 2019 Trial Balance Feb 28, 2019 (optional) FINAL INSTRUCTION TO STUDENTS This project is designed test all of the accounting knowledge and skills you have learned in the introductory class, as well as you attention to detail and critical thinking abilities. There are items here you may correct as you work to make the following parts of the project go faster. Are each of the customers and vendors set up properly with terms and tax codes? Are you able to store any entries to reuse later? Selling prices for certain inventory 7 SOURCE DOCUMENTS SESSION DATE - FEBRUARY 7, 2019 SD1: Payment Cheque #701 Dated Feb. 2/19 To Essex Food Supplies, $792 in payment of account, including early payment discount. Reference invoice #EF-613. SD2: Sales Invoice #581 Dated Feb.2/19 To Mainstream Marketing, for catering services. Large Thermos service $ 45 Asst. Sandwich Trays $ 70 Dessert Trays $ 75 Bottled Mineral Water $ 30 HST 13% TOTAL $248.60 Terms: 2/5, n/10 SD3: Payment Cheque #702 Dated Feb. 2/19 To Orient Express Tea Co., $504.90 in payment of account, including early payment discount. Reference invoice #OE-3569 SD4: Cash Receipt #150 Dated Feb 2/19 From Lockhart, Gardner & Bond, cheque # 2378 for $291.06 in payment of account includes discount for early payment. Reference invoice # 578. Deposit to Undeposited funds. SDS: Cash Receipt 1151 Dated Feb 4/19 From Mainstream Marketing, cheque #94 for $341.55 in payment of account includes discount for early payment. Reference invoice # 580 Deposit to Undeposited funds. SD6: Purchase Invoice # EF-720 Dated Feb. 5/19 From Essex Food Supplies, $950 for weekly order of pastries, breads, condiments and other foods. Terms 1/10, n/30 (charge to food inventory) SD7: Credit Card Sales Invoice #582 Dated Feb.6/19 Sales Summary for Caf credit card sales (to one-time Customers) 10 CFOZ Rainforest Blend Sib $ 53ea $ 530.00 6 CF06 Kenyan Sib 60ea 360.00 8 CF08 Blue Mountain Sib 67ea 536.00 10 TE06 Black 25ea 250.00 12 TE08 Chai 19ea 228.00 4 MTO2 Ceramic Cups 7ea 28.00 2 MT01 Glass Teapots 35ea 70.00 Cafe customers sales and services 2,715.00 HST 13% 613.21 Invoice total paid by credit cards $5,330.21 8 35ea 5D8: Cash Receipt #152 Dated Feb 6/19 From Mainstream Marketing, cheque # 110 for $243.63 in payment of account. Reference invoice # 581 including discount Deposit to Bank chequing SD9: Credit card sale return #582-R Dated Feb 6/19 Return to Cafe by customers (to one-time customers-returns & allowances) -2 MTO2 ceramic cups Tea -$14.00 -1 MT01 Glass Teapots -$35.00 HST 13% -$6.37 Total credited to credit card account -$55.37 SD10: Payment Cheque #703 Dated Feb. 7/19 To River City Gift Co., $718.74 in payment of account, including early payment discount. Reference invoice #RCG-2875 5011: Sales Invoice #583 Dated Feb. 7/19 To Mainstream Marketing, for catering services. Large Thermos service $ 45 Asst. Sandwich Trays $ 70 Dessert Trays $75 Bottled Mineral Water $ 30 13% TOTAL $248,60 Terms: 2/5, 1/10 HST SESSION DATE - FEBRUARY 14, 2019 SD12: Memo #1 Dated Feb 8/19 New inventory items required for Valentine's Day gift packages. Create new asset Group account 1350 Gift Sets. Create new inventory record. Number Description Min. Selling Price /unit G501 Cocoa Lovers Gift Set 1 $39.50 /pkg Linked Accounts: Asset 1350 Revenue 4020 Expense 5060 SD13: Item Assembly HITA-1 Dated Feb 8/19 Assemble 10 GS01 Cocoa Lovers gift sets; transfer component items as follows: 10 C001 Cocoa Powder 11b $6.25 ea 20 MC01 Coffee Mugs 5.65ea Additional Costs $18.00 Assembled Items: 10 GS01 Cocoa Lovers Gift Set 19.35 each set 9 SD14: Purchase Invoice # AB-1376 Dated Feb 9/19 From Ambassador Cleaning Services, 5325 plus HST for weekly cleaning of cate premises. Invoice total $367.25 Terms 1/10, 1/30 SD15: Cash Purchase Invoice #WL-4329 Dated Feb 10/19 From Windsor Life Magazine, $1.500 plus HST for 12 quarter page full colour ads, for annual advertising campaign which launches March 2019. Terms: cash on receipt. Invoice total $1,695.00 paid in full with cheque # 704. Create a new Group account 1280 Prepaid Advertising. SD16: Purchase Order #103 Dated Feb 10/19 Delivery Date Feb 20/19 From River City Gift Company 24 MTO2 Ceramic Cups 802 $ 106.00 36 MC1 Higher Grounds Coffee Mugs 203.40 48 MCO2 Ceramic Travel Mug 360.00 12 MC03 French Coffee Press 4 cup 120.00 10 MCO4 French Coffee Press 8 cup 125.00 HST 13% 118.87 Invoice total $1,033.27 Terms: 1/10, 1/30 SD17 Sales Invoice #584 Dated Feb. 11/19 To Lockhart, Gardner & Bond, for weekly catering services. Small Thermos service $35 Morning snack Trays $50 Assorted fruit juices $30 HST 13% TOTAL $129.95 Terms: 2/5, n/10 SD18: Sales Order #50 Dated Feb 12/19 Ship Date Feb 20/19 To River City Credit Union, 1 MCOS Coffee Grinder $65 ea 1 MCO French Coffee Press 20 ea 2 C001 Cocoa 1 TE04 Green 18 ea 1 TE06 Black 25 ea 1TE08 Chai 16 ea HST 13% TOTAL $185.32 Terms: 2/5, net 10, deposit of 50% of total before tax required with acceptance of order. SD19: Purchase invoice # EF-798 Dated Feb. 12/19 From Essex Food Supplies, $950 for weekly order of pastries, breads, condiments and other foods. Terms 1/10,n/30 10 ea 10 SD 20: Cash Receipt #153 Dated Feb 12/19 From Mainstream Marketing. cheque # 106 for $243.63 in payment of account includes discount for early payment. Reference invoice #583 Deposit to Bank chequing SD21: Cash Receipt #154 Dated Feb 13/19 From River City Credit Union, cheque #838 for $92.66 as deposit #20 to confirm sales order #50 Deposit to Bank chequing SD22: Cash Sales Invoice #585 Dated Feb 13/19 Sales Summary for Caf cash sales (to one-time Customers) 12 CF03 Guatemalan 11b $15 ea $ 180.00 6 CFOs Kenyan 11b 18 ea 108.00 5 CF07 Blue Mountain 11b 20ea 100.00 5 CF09 Sumatra 17ea 85.00 12 TEOS Black Sea 108.00 6 TE07 Chai 7ea 42.00 4 MCO2 Travel Mugs 12ea 48.00 3 MCO3 Coffee Press 16ea 48.00 4 GS01 Cocoa Lovers 39.50ea 158.00 Caf customers sales and services 2. 105.00 13% 387.66 Invoice total paid by cash $3,369.66 Deposit to Bank chequing SD23: Memo #2 Dated Feb 14/19 From B. Beane: Adjust inventory records for glass teapot item MTO1 and ceramic cups item MTO2, one teapot and two cups were dropped and broken SD24: Employee Payroll Dated Feb 14/19 Using the table below, create the pay cheques 705-708 for pay period ending February 14, 2019, using the following information. Employee Cha Hourly rate Regular hours Overtime hours Sick days Joe Cappa 705 $20.00/hr 80 6 Bloom Moka 706 $18.00/hr 80 3 Coco Lait 707 $16.00/hr 40 Vienna Frappe $18.00/hr HST 4. 708 80 11 SESSION DATE - FEBRUARY 21, 2019 SD25: Cash Receipt #155 Dated Feb 15/19 From Lockhart, Gardner & Bond, cheque # 2410 for $127.35in payment of account includes discount for early payment. Reference invoice # 584 Deposit to Bank chequing SD26: Payment Cheque 1709 Dated Feb. 15/19 To Essex Food Supplies, $940.50 in payment of account, including early payment discount. Reference invoice #EF-720. SD27: Cash Purchase Invoice # BC-21813 Dated Feb 18/19 From Bell Canada, $225 plus HST, for monthly telephone and internet services Invoice total $254.25 paid in full by cheque #710 SD28: Purchase Invoice #CC-3512 Dated Feb. 18/19 From Coffee Cooperatives 20 CF01 Rainforest Blend 1b $ 150.00 20 CF02 Rainforest Blend Sib 563.00 20 CF03 Guatemalan lib 188.00 20 CF04 Guatemalan 5lb 625.00 20 CF07 Blue Mountain 11b 250.00 20 CF08 Blue Mountain Sib 813.00 10 C001 Cocoa powder 11b 62.50 HST @ 13% 344.70 Invoice Total $ 2996,20 Terms: 2/10, 1/30 SD29: Payment Cheque #711 Dated Feb. 18/19 To Ambassador Cleaning Services $363.58, in payment of account, includes early payment discount. Reference invoice #AB-1376 SD30: Purchase Invoice # EF-815 Dated Feb. 19/19 From Essex Food Supplies, $950 for weekly order of pastries, breads, condiments and other foods. Terms 1/10,n/30 SD31: Credit Card Sales Invoice #586 Dated Feb. 19/19 Sales Summary for Caf credit card sales (to one-time Customers) 12 CFO2 Rainforest 5lb $ 53ea $ 636.00 8 CF04 Guatemalan 5lb 50ea 400.00 9 CF08 Blue Mountain Sib 67ea 603.00 10 TEO2 Herbal 20ea 200.00 7 TE04 Green 18ea 126.00 10 TE06 Black 25ea 250.00 7 TE08 Chai 16ea 112.00 Caf customers sales and services 2,700.00 HST 13% 653.51 Invoice total paid by credit cards $5680.51 12 SESSION DATE - FEBRUARY 21, 2019 SD25: Cash Receipt #155 Dated Feb 15/19 From Lockhart, Gardner & Bond, cheque # 2410 for $127.35in payment of account includes discount for early payment. Reference invoice # 584 Deposit to Bank chequing SD26: Payment Cheque 1709 Dated Feb. 15/19 To Essex Food Supplies, $940.50 in payment of account, including early payment discount. Reference invoice #EF-720. SD27: Cash Purchase Invoice # BC-21813 Dated Feb 18/19 From Bell Canada, $225 plus HST, for monthly telephone and internet services Invoice total $254.25 paid in full by cheque #710 SD28: Purchase Invoice #CC-3512 Dated Feb. 18/19 From Coffee Cooperatives 20 CF01 Rainforest Blend 1b $ 150.00 20 CF02 Rainforest Blend Sib 563.00 20 CF03 Guatemalan lib 188.00 20 CF04 Guatemalan 5lb 625.00 20 CF07 Blue Mountain 11b 250.00 20 CF08 Blue Mountain Sib 813.00 10 C001 Cocoa powder 11b 62.50 HST @ 13% 344.70 Invoice Total $ 2996,20 Terms: 2/10, 1/30 SD29: Payment Cheque #711 Dated Feb. 18/19 To Ambassador Cleaning Services $363.58, in payment of account, includes early payment discount. Reference invoice #AB-1376 SD30: Purchase Invoice # EF-815 Dated Feb. 19/19 From Essex Food Supplies, $950 for weekly order of pastries, breads, condiments and other foods. Terms 1/10,n/30 SD31: Credit Card Sales Invoice #586 Dated Feb. 19/19 Sales Summary for Caf credit card sales (to one-time Customers) 12 CFO2 Rainforest 5lb $ 53ea $ 636.00 8 CF04 Guatemalan 5lb 50ea 400.00 9 CF08 Blue Mountain Sib 67ea 603.00 10 TEO2 Herbal 20ea 200.00 7 TE04 Green 18ea 126.00 10 TE06 Black 25ea 250.00 7 TE08 Chai 16ea 112.00 Caf customers sales and services 2,700.00 HST 13% 653.51 Invoice total paid by credit cards $5680.51 12 SD32: Purchase Invoice #RCG-3115 Dated Feb 20/19 From River City Gift Company, to fill purchase order#103 24 MTOZ Ceramic Cups 8oz $ 106.00 36 MCO1 Higher Grounds Coffee Mugs 203.40 48 MCO2 Ceramic Travel Mug 360.00 12 MCO3 French Coffee Press 4 cup 120.00 10 MC04 French Coffee Press 8 cup 125.00 HST 13% 118.87 Invoice total $1,033.27 Terms: 1/10, n/30 SD33: Purchase return #RCG-3115-R Dated Feb. 21/19 To River city gift company because 4 cups are damaged -4 MCO2 Ceramic Travel mug -$30.00 HST 13% - $3.90 TOTAL CREDIT -$33.90 SD34: Credit Card Purchase Invoice #MPC-5179 Dated Feb. 21/19 From Merchant Paper Company $325 plus HST for paper and packaging materials to be used in the cafe. Invoice total $367.25 paid in full by credit card. SESSION DATE - FEBRUARY 28, 2019 SD35: Credit Card Bill Payment #2-13 Dated Feb. 24/19 From the credit card company: $181.00 for purchases made before Feb. 15 and $35 annual card fee. Issued cheque #712 for $216.00 SD36: Memo #4 Dated Feb 28/19 Issue cheque to B. Beane, for personal use. $5,000 cheque #713. SD37: Bank Debit Memo #10032 Dated Feb. 28/19 From River City Trust Co, pre-authorized withdrawals for mortgage and loan payments. Mortgage payment $3,200 ($2,000 interest and $1200 principal) Loan payment 1,160 ($180 interest and $ 980 principal) SD38: Memo #5 Dated Feb 28/19 From B. Beane: Prepare for month end by completing adjusting entries for prepaid expenses and supplies used. Prepaid Insurance $350 Office Supplies 68 Paper & Packaging Supplies 275 Prepaid Advertising 300 SD39: Memo #6 Dated Feb 28/19 From B. Beane: Transfer $10,000 from the Credit Card account to the Chequing Bank Account 13 SD40: Memo #7 Dated Feb 28/19 From B. Beane: Adjust for the food and Beverage Inventory used. Beverage Inventory used $1500 Food Inventory used 2300 SD41: Memo 8 Dated Feb 28/19 From B. Beane: Record Monthly Depreciation amounts Computers $ 70 Caf Equipment 333 Furniture & Fixtures 365 Vehicle 425 Caf Premises 2200 14 veher Ground, Cafe Higher Ground Caf & Roastery V.2019 OBJECTIVES Final Project In this project, you will be entering transactions for Higher Grounds Caf & Roastery. The company file has already been set up; please follow your instructor's direction on how to find and open the company data file. COMPANY INFORMATION & providing fresh Certified Fair Trade, organic and premium coffee products. Located in Windsor, Ontario it is owned and managed by Barry Beane. At Higher Grounds, all of their products are organic grown without any synthetic fertilizers, herbicides or pesticides. Healthier soil and waters offered to growing produce, in turn means healthier consumers. The downtown caf and roastery located on the riverfront and is decorated in a comfortable lounge style, displaying the art of local artists, provides free Wi-Fi and also supports the local music scene with weekly Open Mic nights. Higher Grounds Caf & Roastery, essentially a coffee house provides baked goods and lights lunches organic and fair trade teas and cocoa and other beverages including local wines and beers are also available. Catering service is also available, offering dessert and sandwich trays as well as thermos service for local businesses. Barry Beane manages the day to day activities of the caf and has an assistant manager along with trained baristas. He has accounts set up with regular vendors, as well utility service companies and government agencies to which Higher Grounds makes remittances. Some of his vendors offer discounts for early payment The majority of customers are one-time customers who pay by cash or credit card, some repeat customers have accounts and are entitled to a 2 percent discount if they pay within five days; net payment is due within 10 days. Higher Grounds does not pay HST on its food and beverage purchases, but purchases of other merchandise is subject to HST. HST at 13 percent is charged on food and merchandise that is sold 1 veher Ground, Cafe Higher Ground Caf & Roastery V.2019 OBJECTIVES Final Project In this project, you will be entering transactions for Higher Grounds Caf & Roastery. The company file has already been set up; please follow your instructor's direction on how to find and open the company data file. COMPANY INFORMATION & providing fresh Certified Fair Trade, organic and premium coffee products. Located in Windsor, Ontario it is owned and managed by Barry Beane. At Higher Grounds, all of their products are organic grown without any synthetic fertilizers, herbicides or pesticides. Healthier soil and waters offered to growing produce, in turn means healthier consumers. The downtown caf and roastery located on the riverfront and is decorated in a comfortable lounge style, displaying the art of local artists, provides free Wi-Fi and also supports the local music scene with weekly Open Mic nights. Higher Grounds Caf & Roastery, essentially a coffee house provides baked goods and lights lunches organic and fair trade teas and cocoa and other beverages including local wines and beers are also available. Catering service is also available, offering dessert and sandwich trays as well as thermos service for local businesses. Barry Beane manages the day to day activities of the caf and has an assistant manager along with trained baristas. He has accounts set up with regular vendors, as well utility service companies and government agencies to which Higher Grounds makes remittances. Some of his vendors offer discounts for early payment The majority of customers are one-time customers who pay by cash or credit card, some repeat customers have accounts and are entitled to a 2 percent discount if they pay within five days; net payment is due within 10 days. Higher Grounds does not pay HST on its food and beverage purchases, but purchases of other merchandise is subject to HST. HST at 13 percent is charged on food and merchandise that is sold 1 CHART OF ACCOUNTS ASSETS Current Assets Long-Term Liabilities 1020 Undeposited Cash and Cheques 2920 Mortgage Payable 1030 Bank: Chequing EQUITY 1040 Bank: Credit Cards 1200 Accounts Receivable 3100 R. Beane, Capital 1220 Packaging Supplies 3150 R. Beane, Drawings 1240 Office Supplies 3600 Net Income 1260 Prepaid Insurance REVENUE Inventory Assets 4020 Sales revenue 1310 Coffee and Tea 4030 Sales Returns & Allowances 1320 Beverage 1340 Food 4050 Sales Discounts 1360 Merchandise 4100 Sales Tax Compensation Fixed Assets 4150 Interest Revenue 1410 Computer Equipment EXPENSES 1415 Acc. Dep: Computer Equipment Operating Expenses 1420 Net Computer Equipment 5020 Advertising 1430 Caf Equipment 5030 Bank Charges 1440 Acc. Dep: Caf Equipment 1450 Net Caf Equipment 5040 Credit Card Fees 1460 Furniture and Fixtures 5045 Reconciliation Adjustments 1470 Ace Dep: Furniture and Fixtures SOSO Purchase Discounts 1480 Net Furniture and Fixtures 5060 Cost of Goods Sold 1500 Vehicle 5080 Item Assembly Costs 1510 Acc. Dep: Vehicle 5100 Inventory losses 1520 Net Vehicle 1530 Caf Premises 5120 Utilities Expense 1540 Acc. Dep: Caf Premises 5140 Telephone Expense 1550 Net Caf Premises 5160 Licenses and Permits 5180 Depreciation Expense LIABILITIES 5210 Insurance Expense Current Liabilities 5220 Interest Expense 2100 Bank Loan 5240 Cleaning and Maintenance 2200 Accounts Payable 5250 Vehicle Expense 2220 Credit Card Payable 5260 Packaging Supplies Used 2300 Salaries & Wages Payable 5280 Office Supplies Used 2310 Vacation Payable 5290 Property Taxes 2320 El Payable 2330 CPP Payable EXPENSES 2340 Income Tax Payable Payroll Expenses 2400 RRSP Payable 5300 Salaries & Wages Expense 2420 Group Insurance Payable 5310 El Expense 2460 WSIB Payable 5320 CPP Expense 2650 HST Charged on Sales 5330 WSIB Expense 2670 HST Paid on Purchases 5400 Group Insurance Expense 2750 HST Owing (Refund) 2 POST CLOSE TRIAL BALANCE February 1, Debits Credits 15.482 5,325 639 500 200 2,200 5,955 3.500 500 967 5,000 1.200 20,000 200,000 3,500 40,000 50,000 10,000 1030 Bank: Chequing 1040 Bank: Credit Cards 1200 Accounts Receivable 1220 Packaging Supplies 1240 Office Supplies 1260 Prepaid Insurance 1300 Coffee and Tea 1320 Beverage 1340 Food 1360 Merchandise 1400 Computer Equipment 1410 Acc. Dep: Computer Equipment 1430 Caf Equipment 1440 Acc. Dep: Caf Equipment 1530 Cafe Premises 1540 Acc. Dep: Caf Premises 1500 Vehicle 1510 Acc. Dep: Vehicle 1460 Furniture and Fixtures 1470 Acc. Dep: Furniture and Fixtures 2100 Bank Loan 2200 Accounts Payable 2220 Credit Card Payable 2300 Salaries & Wages Payable 2310 Vacation Payable 2320 El Payable 2330 CPP Payable 2340 Income Tax Payable 2400 RRSP Payable 2420 Group Insurance Payable 2460 WSIB Payable 2650 HST Charged on Sales 2670 HST Paid on Purchases 2920 Mortgage Payable 3100 R. Beane, Capital 25,000 5,000 15,000 3,731 181 4,845 345 180,000 22.156 $335,613 $335.613 3 VENDOR INFORMATION Outstanding Balance Vendor Name Bell Canada Ambassador Cleaning Services Coffee Cooperative $1,695 Essex Food Supplies $ 800 Ministry of Finance Address P.O. Box 9000 Don Mills, ON MSN 352 1535 Bridge Drive Windsor, ON N9S 1G8 1755 Arabica Way Toronto, ON MSN 731 650 Baker Rd Windsor, ON N8B 1K1 613 Queens Blvd Ottawa, ON K35 3H5 P.O. Box 8500 Chatham, ON N3A 5L9 P.O. Box 3500 Windsor, ON NIS 4G8 93 Cassoulet Ave Mississauga, ON L7K 151 2350 Oceanside Drive Vancouver, BC VSK 2A3 ON Gas ON Hydro Ontario Food Equipment Orient Express Tea Co. $ 510 Receiver General for Canada River City Gift Co Sunrise Distributors $ 726 320 Bestbuy Dr Windsor, ON NBA 182 475 Kings Road Erie Shores, ON N7N 3P2 P.O. Box 2099 Windsor, ON N9A 787 Grand Total WSIB $ 3,731 CUSTOMER INFORMATION Address Outstanding Balance Customer Name Cash Customers Lockhart, Gardner & Bond Mainstream Marketing 63 Park Avenue Windsor, ON NSJ 2M2 725 Main Street Windsor, ON NSK 419 33 Riverview East Windsor, ON NGK BA1 Grand Total $ 294 $ 345 River City Credit Union $ 639 EMPLOYEE INFORMATION Rate Employee SIN Salary/Wage Position Pay Periodhrs) Mario Macchiato 403 599 401 Asst. Manager $4,000 Monthly(160) Joe Cappa 588 374 127 Head Barista $20.00/hr Semi-monthly(80) Bloom Moka 513 191 282 Barista/Server $18.00/hr Semi-monthly(80) Coco Lait 277 639 119 Server $16.00/hr Semi-monthly(40) Vienna Frappe 813 402 302 Barista/Server $18.00/hr Semi-monthly(80) In lieu of a salary Barry Beane draws $5,000 per month Employee Benefits and Entitlements All full time employees are entitled to 10 days per year as sick leave. When employees take their vacation salaried employees receive their regular salary and hourly workers receive the retained vacation pay Higher Grounds pays 50 percent of the medical premiums for an extended health care insurance plan. This is taxable income for the employee. All employees are single and claim the basic federal and provincial amounts for income tax purposes. All salaried and fulltime staff pay into the extended health care plan at the single rate and also make RRSP contributions Mario Macchiato, the Assistant manager receives his salary at the end of the month and is entitled to 3 weeks of vacation per year. For the other employees who are paid an hourly rate Vacation pay is calculated and retained at 4 percent. 5 INVENTORY INFORMATION Code Description Min Stock Selling Price Unit Qty on Hand Total (Cost) $ 150 563 188 625 225 750 250 813 213 Coffee and Tea Inventory CF01 Rainforest Blend 11b CFO2 Rainforest Blend Sib CF03 Guatemalan lib CF04 Guatemalan 5lb CFOS Kenyan 11b CF06 Kenyan Sib CF07 Blue Mountain 11b CF08 Blue Mountain Sib CF09 Sumatra llb CF10 Sumatra Sib TE01 Herbal Blends 4oz TEO2 Herbal Blends 1 lb TE03 Green 4oz TE04 Green Ilb TEOS Black 402 TE06 Black lib TE07 Chal 4oz TEOS Chai 1lb C001 Cocoa Powder 1b $ 12 Each 45 Each 15 Each 50 Each 18 Each 60 Each 20 Each 65 Each 17 Each 55 Each 7 Each 20 Each 8 Each 18 Each 9 Each 25 Each 7 Each 15 Each 10 Each 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 688 88 250 100 225 113 313 88 188 125 Merchandise Inventory MC01 Higher Grounds Coffee Mugs MCO2 Ceramic Travel Mug MCO3 French Coffee Press 4 cup MC04 French Coffee Press 8 cup MCOS Coffee Grinder MT01 Glass Teapots MTO2 Ceramic Cups 8oz $9 Each 12 Each 16 Each 20 Each 65 Each 35 Each 7 Each 20 20 10 10 4 12 12 $ 113 150 100 125 163 263 53 Accounting Procedures Harmonized Sales Tax (HST) Higher Grounds uses the regular method for calculating and remitting the HST. All items sold have HST added to them. At the end of each quarter, the HST liability to the Receiver General is reduced by any HST paid to suppliers on purchases. Beverage and food supplies are zero rated. The HST Owing (Refund) account shows the amount of HST that is to be remitted to the Receiver General. Sales All customers pay by cash, cheque or credit card. The majority of customers are one time customers who pay by cash or credit card. Higher Grounds allows repeat catering customers to pay on account. Cash and credit card sales are presented as weekly summaries to avoid a large number of small revenue transactions. Credit Card Sales and Purchases Higher Grounds has accounts set up for credit card sales and purchase transactions Receipts and Bank Deposits All cash and cheques received are held for weekly deposits in the temporary bank account Undeposited Cash and Cheques OR will be deposited straight into bank chequing account. Pay careful attention to the instructions. Discounts Higher Grounds takes advantage of discounts for early payment, offered by suppliers, by paying before the discount period ends. Higher Grounds also encourage their customers to pay early by offering a 2 percent discount on before tax amounts if they pay their accounts within five days. Gift Packages Higher Grounds offers an assortment of promotional gift packages that include teas and coffees and accessories. When assembled, these packages require some special packaging material such as baskets, boxes, cellophanes and ribbons which incur additional costs INSTRUCTIONS Enter the source documents for February in Simply Accounting, using the Chart of Accounts, Trial Balance, Supplier, Customer, Employee and Inventory Information provided Export as a PDF and e-mail the following reports to your instructor All Journal Entries: Feb 1-28, 2019 (optional) Income Statement (Standard) from Feb 1-28, 2019 Balance Sheet (Standard) at Feb 28, 2019 Customer Aged Detail at Feb 28, 2019 Vendor Aged Summary at Feb 28, 2019 Trial Balance Feb 28, 2019 (optional) FINAL INSTRUCTION TO STUDENTS This project is designed test all of the accounting knowledge and skills you have learned in the introductory class, as well as you attention to detail and critical thinking abilities. There are items here you may correct as you work to make the following parts of the project go faster. Are each of the customers and vendors set up properly with terms and tax codes? Are you able to store any entries to reuse later? Selling prices for certain inventory 7 SOURCE DOCUMENTS SESSION DATE - FEBRUARY 7, 2019 SD1: Payment Cheque #701 Dated Feb. 2/19 To Essex Food Supplies, $792 in payment of account, including early payment discount. Reference invoice #EF-613. SD2: Sales Invoice #581 Dated Feb.2/19 To Mainstream Marketing, for catering services. Large Thermos service $ 45 Asst. Sandwich Trays $ 70 Dessert Trays $ 75 Bottled Mineral Water $ 30 HST 13% TOTAL $248.60 Terms: 2/5, n/10 SD3: Payment Cheque #702 Dated Feb. 2/19 To Orient Express Tea Co., $504.90 in payment of account, including early payment discount. Reference invoice #OE-3569 SD4: Cash Receipt #150 Dated Feb 2/19 From Lockhart, Gardner & Bond, cheque # 2378 for $291.06 in payment of account includes discount for early payment. Reference invoice # 578. Deposit to Undeposited funds. SDS: Cash Receipt 1151 Dated Feb 4/19 From Mainstream Marketing, cheque #94 for $341.55 in payment of account includes discount for early payment. Reference invoice # 580 Deposit to Undeposited funds. SD6: Purchase Invoice # EF-720 Dated Feb. 5/19 From Essex Food Supplies, $950 for weekly order of pastries, breads, condiments and other foods. Terms 1/10, n/30 (charge to food inventory) SD7: Credit Card Sales Invoice #582 Dated Feb.6/19 Sales Summary for Caf credit card sales (to one-time Customers) 10 CFOZ Rainforest Blend Sib $ 53ea $ 530.00 6 CF06 Kenyan Sib 60ea 360.00 8 CF08 Blue Mountain Sib 67ea 536.00 10 TE06 Black 25ea 250.00 12 TE08 Chai 19ea 228.00 4 MTO2 Ceramic Cups 7ea 28.00 2 MT01 Glass Teapots 35ea 70.00 Cafe customers sales and services 2,715.00 HST 13% 613.21 Invoice total paid by credit cards $5,330.21 8 35ea 5D8: Cash Receipt #152 Dated Feb 6/19 From Mainstream Marketing, cheque # 110 for $243.63 in payment of account. Reference invoice # 581 including discount Deposit to Bank chequing SD9: Credit card sale return #582-R Dated Feb 6/19 Return to Cafe by customers (to one-time customers-returns & allowances) -2 MTO2 ceramic cups Tea -$14.00 -1 MT01 Glass Teapots -$35.00 HST 13% -$6.37 Total credited to credit card account -$55.37 SD10: Payment Cheque #703 Dated Feb. 7/19 To River City Gift Co., $718.74 in payment of account, including early payment discount. Reference invoice #RCG-2875 5011: Sales Invoice #583 Dated Feb. 7/19 To Mainstream Marketing, for catering services. Large Thermos service $ 45 Asst. Sandwich Trays $ 70 Dessert Trays $75 Bottled Mineral Water $ 30 13% TOTAL $248,60 Terms: 2/5, 1/10 HST SESSION DATE - FEBRUARY 14, 2019 SD12: Memo #1 Dated Feb 8/19 New inventory items required for Valentine's Day gift packages. Create new asset Group account 1350 Gift Sets. Create new inventory record. Number Description Min. Selling Price /unit G501 Cocoa Lovers Gift Set 1 $39.50 /pkg Linked Accounts: Asset 1350 Revenue 4020 Expense 5060 SD13: Item Assembly HITA-1 Dated Feb 8/19 Assemble 10 GS01 Cocoa Lovers gift sets; transfer component items as follows: 10 C001 Cocoa Powder 11b $6.25 ea 20 MC01 Coffee Mugs 5.65ea Additional Costs $18.00 Assembled Items: 10 GS01 Cocoa Lovers Gift Set 19.35 each set 9 SD14: Purchase Invoice # AB-1376 Dated Feb 9/19 From Ambassador Cleaning Services, 5325 plus HST for weekly cleaning of cate premises. Invoice total $367.25 Terms 1/10, 1/30 SD15: Cash Purchase Invoice #WL-4329 Dated Feb 10/19 From Windsor Life Magazine, $1.500 plus HST for 12 quarter page full colour ads, for annual advertising campaign which launches March 2019. Terms: cash on receipt. Invoice total $1,695.00 paid in full with cheque # 704. Create a new Group account 1280 Prepaid Advertising. SD16: Purchase Order #103 Dated Feb 10/19 Delivery Date Feb 20/19 From River City Gift Company 24 MTO2 Ceramic Cups 802 $ 106.00 36 MC1 Higher Grounds Coffee Mugs 203.40 48 MCO2 Ceramic Travel Mug 360.00 12 MC03 French Coffee Press 4 cup 120.00 10 MCO4 French Coffee Press 8 cup 125.00 HST 13% 118.87 Invoice total $1,033.27 Terms: 1/10, 1/30 SD17 Sales Invoice #584 Dated Feb. 11/19 To Lockhart, Gardner & Bond, for weekly catering services. Small Thermos service $35 Morning snack Trays $50 Assorted fruit juices $30 HST 13% TOTAL $129.95 Terms: 2/5, n/10 SD18: Sales Order #50 Dated Feb 12/19 Ship Date Feb 20/19 To River City Credit Union, 1 MCOS Coffee Grinder $65 ea 1 MCO French Coffee Press 20 ea 2 C001 Cocoa 1 TE04 Green 18 ea 1 TE06 Black 25 ea 1TE08 Chai 16 ea HST 13% TOTAL $185.32 Terms: 2/5, net 10, deposit of 50% of total before tax required with acceptance of order. SD19: Purchase invoice # EF-798 Dated Feb. 12/19 From Essex Food Supplies, $950 for weekly order of pastries, breads, condiments and other foods. Terms 1/10,n/30 10 ea 10 SD 20: Cash Receipt #153 Dated Feb 12/19 From Mainstream Marketing. cheque # 106 for $243.63 in payment of account includes discount for early payment. Reference invoice #583 Deposit to Bank chequing SD21: Cash Receipt #154 Dated Feb 13/19 From River City Credit Union, cheque #838 for $92.66 as deposit #20 to confirm sales order #50 Deposit to Bank chequing SD22: Cash Sales Invoice #585 Dated Feb 13/19 Sales Summary for Caf cash sales (to one-time Customers) 12 CF03 Guatemalan 11b $15 ea $ 180.00 6 CFOs Kenyan 11b 18 ea 108.00 5 CF07 Blue Mountain 11b 20ea 100.00 5 CF09 Sumatra 17ea 85.00 12 TEOS Black Sea 108.00 6 TE07 Chai 7ea 42.00 4 MCO2 Travel Mugs 12ea 48.00 3 MCO3 Coffee Press 16ea 48.00 4 GS01 Cocoa Lovers 39.50ea 158.00 Caf customers sales and services 2. 105.00 13% 387.66 Invoice total paid by cash $3,369.66 Deposit to Bank chequing SD23: Memo #2 Dated Feb 14/19 From B. Beane: Adjust inventory records for glass teapot item MTO1 and ceramic cups item MTO2, one teapot and two cups were dropped and broken SD24: Employee Payroll Dated Feb 14/19 Using the table below, create the pay cheques 705-708 for pay period ending February 14, 2019, using the following information. Employee Cha Hourly rate Regular hours Overtime hours Sick days Joe Cappa 705 $20.00/hr 80 6 Bloom Moka 706 $18.00/hr 80 3 Coco Lait 707 $16.00/hr 40 Vienna Frappe $18.00/hr HST 4. 708 80 11 SESSION DATE - FEBRUARY 21, 2019 SD25: Cash Receipt #155 Dated Feb 15/19 From Lockhart, Gardner & Bond, cheque # 2410 for $127.35in payment of account includes discount for early payment. Reference invoice # 584 Deposit to Bank chequing SD26: Payment Cheque 1709 Dated Feb. 15/19 To Essex Food Supplies, $940.50 in payment of account, including early payment discount. Reference invoice #EF-720. SD27: Cash Purchase Invoice # BC-21813 Dated Feb 18/19 From Bell Canada, $225 plus HST, for monthly telephone and internet services Invoice total $254.25 paid in full by cheque #710 SD28: Purchase Invoice #CC-3512 Dated Feb. 18/19 From Coffee Cooperatives 20 CF01 Rainforest Blend 1b $ 150.00 20 CF02 Rainforest Blend Sib 563.00 20 CF03 Guatemalan lib 188.00 20 CF04 Guatemalan 5lb 625.00 20 CF07 Blue Mountain 11b 250.00 20 CF08 Blue Mountain Sib 813.00 10 C001 Cocoa powder 11b 62.50 HST @ 13% 344.70 Invoice Total $ 2996,20 Terms: 2/10, 1/30 SD29: Payment Cheque #711 Dated Feb. 18/19 To Ambassador Cleaning Services $363.58, in payment of account, includes early payment discount. Reference invoice #AB-1376 SD30: Purchase Invoice # EF-815 Dated Feb. 19/19 From Essex Food Supplies, $950 for weekly order of pastries, breads, condiments and other foods. Terms 1/10,n/30 SD31: Credit Card Sales Invoice #586 Dated Feb. 19/19 Sales Summary for Caf credit card sales (to one-time Customers) 12 CFO2 Rainforest 5lb $ 53ea $ 636.00 8 CF04 Guatemalan 5lb 50ea 400.00 9 CF08 Blue Mountain Sib 67ea 603.00 10 TEO2 Herbal 20ea 200.00 7 TE04 Green 18ea 126.00 10 TE06 Black 25ea 250.00 7 TE08 Chai 16ea 112.00 Caf customers sales and services 2,700.00 HST 13% 653.51 Invoice total paid by credit cards $5680.51 12 SESSION DATE - FEBRUARY 21, 2019 SD25: Cash Receipt #155 Dated Feb 15/19 From Lockhart, Gardner & Bond, cheque # 2410 for $127.35in payment of account includes discount for early payment. Reference invoice # 584 Deposit to Bank chequing SD26: Payment Cheque 1709 Dated Feb. 15/19 To Essex Food Supplies, $940.50 in payment of account, including early payment discount. Reference invoice #EF-720. SD27: Cash Purchase Invoice # BC-21813 Dated Feb 18/19 From Bell Canada, $225 plus HST, for monthly telephone and internet services Invoice total $254.25 paid in full by cheque #710 SD28: Purchase Invoice #CC-3512 Dated Feb. 18/19 From Coffee Cooperatives 20 CF01 Rainforest Blend 1b $ 150.00 20 CF02 Rainforest Blend Sib 563.00 20 CF03 Guatemalan lib 188.00 20 CF04 Guatemalan 5lb 625.00 20 CF07 Blue Mountain 11b 250.00 20 CF08 Blue Mountain Sib 813.00 10 C001 Cocoa powder 11b 62.50 HST @ 13% 344.70 Invoice Total $ 2996,20 Terms: 2/10, 1/30 SD29: Payment Cheque #711 Dated Feb. 18/19 To Ambassador Cleaning Services $363.58, in payment of account, includes early payment discount. Reference invoice #AB-1376 SD30: Purchase Invoice # EF-815 Dated Feb. 19/19 From Essex Food Supplies, $950 for weekly order of pastries, breads, condiments and other foods. Terms 1/10,n/30 SD31: Credit Card Sales Invoice #586 Dated Feb. 19/19 Sales Summary for Caf credit card sales (to one-time Customers) 12 CFO2 Rainforest 5lb $ 53ea $ 636.00 8 CF04 Guatemalan 5lb 50ea 400.00 9 CF08 Blue Mountain Sib 67ea 603.00 10 TEO2 Herbal 20ea 200.00 7 TE04 Green 18ea 126.00 10 TE06 Black 25ea 250.00 7 TE08 Chai 16ea 112.00 Caf customers sales and services 2,700.00 HST 13% 653.51 Invoice total paid by credit cards $5680.51 12 SD32: Purchase Invoice #RCG-3115 Dated Feb 20/19 From River City Gift Company, to fill purchase order#103 24 MTOZ Ceramic Cups 8oz $ 106.00 36 MCO1 Higher Grounds Coffee Mugs 203.40 48 MCO2 Ceramic Travel Mug 360.00 12 MCO3 French Coffee Press 4 cup 120.00 10 MC04 French Coffee Press 8 cup 125.00 HST 13% 118.87 Invoice total $1,033.27 Terms: 1/10, n/30 SD33: Purchase return #RCG-3115-R Dated Feb. 21/19 To River city gift company because 4 cups are damaged -4 MCO2 Ceramic Travel mug -$30.00 HST 13% - $3.90 TOTAL CREDIT -$33.90 SD34: Credit Card Purchase Invoice #MPC-5179 Dated Feb. 21/19 From Merchant Paper Company $325 plus HST for paper and packaging materials to be used in the cafe. Invoice total $367.25 paid in full by credit card. SESSION DATE - FEBRUARY 28, 2019 SD35: Credit Card Bill Payment #2-13 Dated Feb. 24/19 From the credit card company: $181.00 for purchases made before Feb. 15 and $35 annual card fee. Issued cheque #712 for $216.00 SD36: Memo #4 Dated Feb 28/19 Issue cheque to B. Beane, for personal use. $5,000 cheque #713. SD37: Bank Debit Memo #10032 Dated Feb. 28/19 From River City Trust Co, pre-authorized withdrawals for mortgage and loan payments. Mortgage payment $3,200 ($2,000 interest and $1200 principal) Loan payment 1,160 ($180 interest and $ 980 principal) SD38: Memo #5 Dated Feb 28/19 From B. Beane: Prepare for month end by completing adjusting entries for prepaid expenses and supplies used. Prepaid Insurance $350 Office Supplies 68 Paper & Packaging Supplies 275 Prepaid Advertising 300 SD39: Memo #6 Dated Feb 28/19 From B. Beane: Transfer $10,000 from the Credit Card account to the Chequing Bank Account 13 SD40: Memo #7 Dated Feb 28/19 From B. Beane: Adjust for the food and Beverage Inventory used. Beverage Inventory used $1500 Food Inventory used 2300 SD41: Memo 8 Dated Feb 28/19 From B. Beane: Record Monthly Depreciation amounts Computers $ 70 Caf Equipment 333 Furniture & Fixtures 365 Vehicle 425 Caf Premises 2200 14 veher Ground, Cafe Higher Ground Caf & Roastery V.2019 OBJECTIVES Final Project In this project, you will be entering transactions for Higher Grounds Caf & Roastery. The company file has already been set up; please follow your instructor's direction on how to find and open the company data file. COMPANY INFORMATION & providing fresh Certified Fair Trade, organic and premium coffee products. Located in Windsor, Ontario it is owned and managed by Barry Beane. At Higher Grounds, all of their products are organic grown without any synthetic fertilizers, herbicides or pesticides. Healthier soil and waters offered to growing produce, in turn means healthier consumers. The downtown caf and roastery located on the riverfront and is decorated in a comfortable lounge style, displaying the art of local artists, provides free Wi-Fi and also supports the local music scene with weekly Open Mic nights. Higher Grounds Caf & Roastery, essentially a coffee house provides baked goods and lights lunches organic and fair trade teas and cocoa and other beverages including local wines and beers are also available. Catering service is also available, offering dessert and sandwich trays as well as thermos service for local businesses. Barry Beane manages the day to day activities of the caf and has an assistant manager along with trained baristas. He has accounts set up with regular vendors, as well utility service companies and government agencies to which Higher Grounds makes remittances. Some of his vendors offer discounts for early payment The majority of customers are one-time customers who pay by cash or credit card, some repeat customers have accounts and are entitled to a 2 percent discount if they pay within five days; net payment is due within 10 days. Higher Grounds does not pay HST on its food and beverage purchases, but purchases of other merchandise is subject to HST. HST at 13 percent is charged on food and merchandise that is sold 1