ASSIGNMENT 4: AIR CARE SERVICES Air Care is located in sunny Regina, Saskatchewan and has been operating successfully for the past 15 years. This is a comprehensive assignment where you will build a company file from the ground up working with the information provided in the textbook. Pay close attention to the small details as you work through the assignment - especially the taxes - these will make a huge difference. Objective - To plan and design an accounting system for a small business - To prepare procedures for converting from a manual system to an automated system Outcome - This includes creating company files and understanding how accounts are linked to facilitate automatic updating - Setting up accounts in the different ledgers - General, Payables, Receivable and Payroll - Entering historical information from suppliers and customers - Editing historical information after recording - Setup of credit cards for receipt and payments - Displaying reports from the different subsidiary ledgers Importance Understanding the importance of a computerized system and the details that are involved in establishing one. Directions - Open the Sage 50 application software. At the main window, select create a new company - Go to the assigned reading and follow the chapter page by page. Enter the company data as provided - Enter each transaction based on the information provided in the source document - After entering all the source documents, go reports and select the report to be submitted - At top of page use the export into excel button to export the report in to excel - To submit into one excel workbook, you will need to cut and paste each report into ONE excel workbook - Check to ensure that asset and expense accounts have debit balances - Check to ensure that revenue and liabilities account have credit balances Submissions Use the link below to submit your assignment for Air Care Services. You should be submitting one Excel file that contains: 1. one sheet for your Trial Balance dated April 30, 2020, 2. one sheet for all your Journal Entries for the period of April 1, 2020 - May 1, 2020, do not show corrections, 3. one sheet for a Vendor Aged Summary Report as at April 30, 2020 (reports, payables, vendor aged - make sure summary is selected and then select all vendors) and 4. one sheet for a Customer Aged Summary Report as at April 30, 2020 (reports, receivables, customer aged, make sure summary is selected and then select all customers). MARKING RUBRIC - Air Care Services ITEM REQUIREMENTS MARK Trial Balance - Heading is complete with Company Name, Name of report and date centered at the top three lines - All accounts with balances are listed with account numbers - All assets, drawings and expenses are in the debit column - All liabilities, capital and revenues are in the credit column - Both columns are totaled - Totals are equal - Total have a single line above and double line under / 40 Journal Entries - Heading is complete with Company Name, Name of report and date centered at the top three lines - All required journal entries are included (corrections are excluded) - All expenses are in the debit column - All revenues are in the credit column - Both columns are totaled - Totals are equal - Total have a single line above and double line under / 5 Customer Aged Report - Heading is complete with Company Name, Name of report and date centered at the top three lines - Report is aged - Report is a summary - All customers included - The correct number of customers included - The correct balance is included /5 Vendor Aged Summary - Heading is complete with Company Name, Name of report and date centered at the top three lines - Report is aged - Report is a summary - All vendors included - The correct number of vendors included - The correct balance is included /5 Format - Assignment submitted in Excel Format - All reports included in ONE workbook - All required reports included - Consistent format through workbook /5 TOTAL /60