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BELLWETHER GARDEN SUPPLY PROJECT Restore the Exercise 6-2 file. Then, answer the following questions about Bellwether Garden Supply. Examine Bellwether Garden Supply's chart of accounts.
BELLWETHER GARDEN SUPPLY PROJECT
Restore the Exercise 6-2 file. Then, answer the following questions about Bellwether Garden Supply.
- Examine Bellwether Garden Supply's chart of accounts. Are all of the account types in conformance with usual accounting procedures? If not, list the accounts that could be classified differently.
- What is the balance in Account No. 89500, Purchase Disc-Expense Items? Is it a debit or credit balance? Why? (Hint: Display the General Ledger report; select Options. In the Time Frame period, select All. Select the filter GL Account ID from 89500 to 89500.) Explain.
- How do you compute the sales discount? How does Sage 50 compute the sales discount?
- How do you change a sales discount?
- What types of entries are recorded in Bellwether's general journal?
- How does Sage 50 identify these windows? Identify the software module and journal.
Module | Window | Journal |
| Purchases/Receive Inventory |
|
| Sales/Invoicing |
|
| Payments |
|
| Receive Money |
|
| General Journal Entry |
|
| Payroll Entry |
|
| Inventory Adjustments |
|
- There are two ways to access backup and restore. Explain both.
- On the Payroll Entry window, what are the differences between the amounts in the Taxes-Benefits-Liability area that have minus signs in front of them and amounts that do not show a minus sign?
- Does Bellwether track Overtime pay in a separate account? Briefly explain.
- What type of Accounting Method does Bellwether use? How do you find that out and what does it mean?
- What is the Business Status Navigation Center? Can it be customized? Does the Business Status Center show your security settings? Can access be limited to the Sage 50's Navigation Centers?
- Is the net income shown on the Business Status Navigation Center for the month of year to date? How do you check that?
- What report verifies the balance in Account No. 11000 Accounts Receivable? What is the Accounts Receivable balance in the General Ledger and in the Customer Ledgers? Why is there a difference? (Hint:Look in the journals for Customers & Sales module.)
- What report verifies the balance in Account No. 20000 Accounts Payable? What is the Accounts Payable balance in the General Ledger and in the Vendor Ledgers? Why is there a difference? (Hint:Look in the journals for Vendors & Payables module.)
- If you want to view a report that shows the changes made to maintenance items and transactions, what report would you look at?
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