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computer accounting with quickbooks

Questions and Answers of Computer Accounting With QuickBooks

Give an example of unearned revenue, and explain the process for end-of-period adjustments involving unearned revenue.
Explain how to access general journal entries.
What menu item do you use to start bank reconciliations?
What account is typically used to record service charges?
Restore the file Boston Catering. Enter budgeted revenues and expenses described below and then print the Profit & Loss Budget Overview and Profit & Loss Budget vs. Actual reports for the month ended
Which menus are used to create budget reports in QuickBooks Accountant?
Describe how you use the calculator feature that is built into QuickBooks Accountant.
Restore the Sports City (Backup) file that you downloaded from the student companion site. Record the following business events in chronological order (remember, dates are in the month of April
Explain the typical relationship between Retained Earnings and net income/loss, and describe how this information is included in the QuickBooks Accountant budgeting process.
Explain how you can use QuickBooks Accountant to modify any report.
Restore the file Boston Catering create the following graphs for the period 7/1/10 through 8/31/10 unless otherwise specified.a. Income and expense graph by month by account.b. Income and expense
Make a copy of the QuickBooks Accountant file you created for Pacific Brew in that chapter. Record the following business events in chronological order (remember, dates are in the month of January
You added some transactions to your QuickBooks Accountant file for Forever Young. Make a copy of that file, and use that copy to create and print the following. Be sure to remove the date prepared,
Restore the file Wild Water Sports and then create, memorize, and print the following reports, graphs, or spreadsheets. As with all reports, remove the date prepared, time prepared, and report
What are the optional columns available in the Modify Report window when you create a balance sheet?
Restore the file Boston Catering create the following reports for the period 7/1/10 through 8/31/10 (unless otherwise specified) in a manner similar to that used in the chapter.a. Sales by customer
You added some transactions to your QuickBooks Accountant file for Ocean View Flowers. Make a copy of that file, and use that copy to create and print the following. Be sure to remove the date
Make a copy of the QuickBooks Accountant file you created for Sunset in that chapter. Record the following business events in chronological order (remember, dates are in the month of January
Restore the file Central Coast Cellular and use that copy to create and print the following. Be sure to remove the date prepared, time prepared, and report basis fields where appropriate, and
What time periods are available for the columns of a balance sheet?
Restore the file Boston Cateringa. Create a standard profit and loss report for the month of August 2010 removing the date prepared, time prepared, and report basis from the header.b. Export the
You added some transactions to your QuickBooks Accountant file for Aloha Properties. Make a copy of that file, and use that copy to create and print the following. Be sure to remove the date
Change the company name to include Ch 11 at the end so that the new company name is Bridgette Sweet Photography Ch 11. Add the following business events:Create, memorize, and print the following
Restore the file Santa Barbara Sailing and use that copy to create and print the following. As before, be sure to remove the date prepared, time prepared, and report basis fields where appropriate,
Change the company name to include Ch 11 at the end so that the new company name is Crystal Clear Pool Service Ch 11. Add the following business events:Create, memorize, and print the following
What options are available in the Fonts & Numbers tab for a balance sheet?
Restore the file Drone City. Use that copy to create and print the following. As before, be sure to remove the date prepared, time prepared, and report basis fields where appropriate, and memorize
How do you resize a report that would normally print on two pages so that it will fit on one page?
When you create a balance sheet, what is the result of clicking the Collapse button?
What different graphs are available in QuickBooks Accountant?
Discuss why percentage changes identified in the budgeted vs. actual reports need to be interpreted carefully.
Describe the information available in the accounts receivable and accounts payable aging reports.
Describe the information available in the sales by item report.
What is the Fixed Asset Manager?
Restore the file Central Coast Cellular Ch 12 (Backup) that you downloaded from the student companion site, and then:• Modify the 1/08/09 purchase of equipment using check 3002 to reflect the
Describe the process for modifying a check, previously written to purchase a fixed asset, to establish a new fixed asset item in QuickBooks Accountant.
Restore the file Santa Barbara Sailing Ch 12 (Backup) that you downloaded from the student companion site, and then do the following like you did in the chapter:• Create a new client in the Fixed
How is the fixed asset list automatically updated?
What circumstances require the fixed asset list to be manually updated?
How does the Fixed Asset Manager calculate current period depreciation?
Can the Fixed Asset Manager provide you a schedule of future depreciation? If so, what information is part of this schedule?
Restore the file Drone City Ch 12 (Backup) that you downloaded from the student companion site and then do the following like you did in the chapter:• Create a new client in the Fixed Asset Manager
When is the Fixed Asset Manager synchronized with the fixed asset list?
What information is provided by the Fixed Asset Manager’s Depreciation Schedule by G/L Account Number report?
Describe the financial accounting journal entry to record the sale/disposal of a fixed asset.
Working with Files Open the Larry’s Landscaping & Garden Supply file you used in the chapter to practice opening, closing, and printing.Create a Customer Balance Summary report as of 12/16/2022
Practice Using the QuickBooks Accountant Help Menu Use the QuickBooks Desktop Help item in the QuickBooks Accountant Help menu to learn more about QuickBooks Accountant’s features.a. Search on
Accessing Inventory Data Scott Montalvo wants to know the amount and nature of inventory on hand as of December 15, 2022. Open the Larry’s Landscaping & Garden Supply file you used in the
Accessing Sales Data Scott has questions about the company’s sales for the month of December. Open the Larry’s Landscaping & Garden Supply file you used in the chapter. Open the Sales by Customer
List the preset ways in which QuickBooks Accountant can present a balance sheet.
What time period alternatives does QuickBooks Accountant provide for a balance sheet?
List the steps you would take to create a balance sheet for a date other than the current system date.
Describe the steps to generate a balance sheet in QuickBooks Accountant.
Describe the steps to resize the columns of a Comparative Balance Sheet.
Describe the different types of transactions you might find in a Transactions by Account report on accounts receivable.
Describe how QuickZoom gives you more information about a balance sheet.
How might a manager use QuickZoom to analyze a business’s financial position as reported in a balance sheet?
List five ways you can customize a QuickBooks Accountant report.
Suppose you wanted to include a column in a balance sheet that described what percentage each asset, liability, and owners’ equity account was of the total assets amount. How would you do this in
Scott asks you to help him prepare a balance sheet. Use the Larry’s Landscaping & Garden Supply file you used in the chapter. (Be sure to type your name in the Extra Footer Line of this report.)a.
Scott asks you to help him investigate the Accounts Receivable balance as of October 31, 2022.Use the Larry’s Landscaping & Garden Supply file you used in this chapter.Open the Summary Balance
Supply file you used in this chapter. Modify the Comparative Summary Balance Sheet you created in the chapter (remember, you memorized it, so it is easy to recall) to include September, October, and
Meagan Casey is the sole proprietor and owner of Sierra Marina, located at the north end of Shaver Lake in the California Sierra Mountains. She has been in business for a few years and decided on
Kelly Jennings has just started working full time in her new business, an advertising agency named Jennings & Associates and located in San Martin, California.Like many eager entrepreneurs, she
Jason Galas has a well-deserved reputation as a leader in innovative and cutting-edge corporate tax planning with over 20 years of experience. His firm’s diverse practice extends beyond ordinary
List at least three of the preset formats that QuickBooks Accountant provides for an income statement.
Identify the different periods of time that QuickBooks Accountant provides for an income statement.
Describe the steps necessary to create an income statement for a period other than one ending on the computer’s current system date.
Describe the steps necessary to generate an income statement in QuickBooks Accountant.
Describe the steps necessary to create a standard income statement.
Describe the steps necessary to modify an income statement so that it includes comparative information.
How does QuickZoom help you further investigate an income statement?
How could a manager use QuickZoom to access underlying information as reported in an income statement?
List five report modification features of QuickBooks Accountant that can be applied to an income statement.
How would you modify an income statement to include a column describing the percentage relationship between expenses and total revenues?
Scott has asked you to help him prepare a new income statement. Include your name in the Extra Footer Line of all reports printed. Use the file from your chapter work.a. First, he asks you to prepare
Create a new Profit & Loss Standard report for the month of February 2022. Investigate the $1,885.00 of Fountain & Garden Lighting income. Examine the invoice used to record this income.a. Which
Use the income statement you memorized in Assignment 1a above by changing the From/To dates to 3/1/22 and 3/31/22, respectively, and then memorize (with a new name) and print this report.
Meagan Casey, sole proprietor and owner of Sierra Marina, requires some additional financial reports.Requirements:Prepare, memorize, and print the following reports using Meagan’s Sierra Marina
As you learned in Chapter 2, Kelly Jennings prepared a balance sheet to submit to her banker with her application for a business loan. When she delivered the balance sheet to the banker, he told her
Jason Galas requires some additional financial reports.Requirements:Prepare and print the following reports using the Jason Galas Attorney at Law PC file.Be sure to include your name in the Extra
Describe, in your own words, the various uses of QuickBooks Accountant.
List the four basic features of QuickBooks Accountant.
Describe how lists are used in QuickBooks Accountant.
Describe how forms are used in QuickBooks Accountant.
Name three forms used in QuickBooks Accountant.
Describe how registers are used in QuickBooks Accountant.
Describe how reports and graphs are used in QuickBooks Accountant.
Describe the function of the centers in QuickBooks Accountant.
Describe how to print a report in QuickBooks Accountant.
Describe two of the Help features available in QuickBooks Accountant.
Select the letter of the item below that best matches the definitions that follow. Use the text or QuickBooks Accountant Help to complete this assignment. a. Student companion site b. Lists c. Forms

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