Computerized Accounting with Sage 50 Level 2 Dermal Dcor Project Specifications The information provided in this test allows you to set up all ledgers for an Ontario company named DERMAL DECOR. Dermal Decor specializes in high quality aesthetic body art with sterile equipment. Before beginning any tattoo work, customers watch a brief consultation video from a dermatologist describing the process and cost of reversing their decisions. The new manager of the store buys tattoo designs and also creates custom designs for patrons with special requests. Most patrons choose from a stock of designs purchased from other artists. Her assistant completes much of the tattoo work.In stock designs are entered as inventory items, with prices based on size and complexity. Temporary tattoos are also available. The ink used for tattoos is charged to customers as inventory sales. The tattoo application and custom design work are charged as services on the basis of time. All ledgers are used. 1.Using Sage 50 Accounting,Start a new company file using the following information. Company Name:Dermal Dcor - (Your Name) NOTE: Be sure to include your name as part of the company name so the reports you print and hand in to your instructor will be properly identified. Address:9999-A New St., Toronto,OntarioM5W 1G6 Phone:(647) 523-8191Fax:(647) 525-8819 Fiscal start:04-01-2017 Earliest transaction date:04-01-2017 Fiscal end:06-30-2017 Select: Start a new company Select: Let me build the list of accounts myself after the company is created Industry:Service Select: I will update my tax information myself Store company files in a new folder named DERMAL and use DERMAL as the file name. 2.Change the default settings if necessary to include the following: User Preferences: - OptionsUse Accounting Terms Automatically save changes to Suppliers, Clients and Other Records Show list buttons in SAGE 50 - View:Turn off Checklists and Daily Business Manager at startup and after changing session date Show Change Session Date at startup - TransactionsTurn on Confirmation Message Box Company Settings: - InformationBusiness No:872 197 639 - System:Do not allow transactions dated before 04-01-2017 Do not allow transactions in future - BackupBackup frequency: Weekly; turn off automatic backups - FeaturesUse all features - FormsNext Sales Invoice number 3110 Next Sales Quote number 32 Next Receipts number 356 Next Customer Deposits number 106 Next Purchase Order number 55 Next Direct Deposit -Employee number 68 Verify sequence number for all forms Allow printing in batches for all forms Date Format:MM, DD, YYYY. Use long date format on screen and in reports 3. Start accounts to match the following Chart of Accounts: Account types are shown in brackets beside the account. (A) = Subgroup(S) = Subgroup total(H) = Heading(T) = Total(X) = Current Earnings All other accounts (unmarked) are Group accounts. Allow division allocations for all revenue and expense accounts. 1000 CURRENT ASSETS (H) 1040 Test Balance 1060 Undeposited Cash and Cheques 1080 Bank: CAD Chequing 1090 Bank: USD Chequing 1100 Bank: Credit Card 1200 Accounts Receivable 1240 Advances Receivable 1260 Purchase Prepayments 1280 Sterilized Needles 1320 Other Supplies 1390 TOTAL CURRENT ASSETS (T) 1400 INVENTORY (H) 1420 Tattoo Designs 1440 Ink 1490 TOTAL INVENTORY (T) 1600 PLANT & EQUIPMENT (H) 1620 Computers and Video Monitors 1640 Sterilization Equipment 1660 Tattoo Equipment 1680 Store Fixtures and Displays 1690 Store 1695 TOTAL PLANT & EQUIPMENT (T) 2000 CURRENT LIABILITIES (H) 2100 Bank Loan 2150 Credit Card Payable 2200 Accounts Payable 2240 Prepaid Sales and Deposits 2300 Vacation Payable 2310 EI Payable (A) 2320 CPP Payable (A) 2330 Income Tax Payable (A) 2340 Receiver General Payable (S) 2360 EHT Payable 2380 Medical Payable 2390 Tuition Payable 2400 CSB Plan Payable 2460 WSIB Payable 2650HST Charged on Sales (A) 2670 HST Paid on Purchases (A) 2750 HST Owing (Refund) (S) 2800TOTAL CURRENT LIABILITIES (T) 2810LONG TERM LIABILITIES (H) 2850Mortgage Payable 2890TOTAL LONG TERM LIABILITIES (T) 3000EQUITY (H) 3560D. Zines, Capital 3600Net Income (X) 3690TOTAL EQUITY (T) 4000REVENUE (H) 4020Revenue from Sales 4060Revenue from Design 4100 Sales Discounts 4390TOTAL REVENUE (T) 5000EXPENSES (H) 5010Credit Card & Bank Fees 5015Exchange Rate Differences 5020Store Maintenance 5030Adjustment Write-Off 5060Cost of Goods Sold 5070Cost of Services 5100Purchase Discounts 5200Freight Expense 5220Supplies Used 5230Interest Expense 5260Utilities 5300Wages 5310EI Expense 5320CPP Expense 5330WSIB Expense 5360EHT Expense 5380Medical Expense 5400Tuition Expense 5490TOTAL EXPENSES (T) Print the Chart of Accounts for reference. 4.Add account balances from the following Trial Balance:Post-Closing Trial Balance for Dermal Decor:April 1, 2017 1080 Bank: CAD Chequing$24 130 1090 Bank: USD Chequing1 550 1100 Bank: Credit Card2 200 1200 Accounts Receivable2 800 1240 Advances Receivable150 1300 Sterilized Needles650 1320 Other Supplies400 1640 Sterilization Equipment4 800 1650 Computers and Video Monitors6 500 1660 Tattoo Equipment12 000 1680 Store Fixtures and Displays4 500 1690 Store120 000 1420 Tattoo Designs10 800 1440 Ink1 030 2100 Bank Loan$ 6 000 2150 Credit Card Payable1 200 2200 Accounts Payable4 500 2300 Vacation Payable360 2310 EI Payable145 2320 CPP Payable390 2330 Income Tax Payable625 2650 HST Charged on Sales (A)1 890 2670 HST Paid on Purchases (A)1 620 2850 Mortgage Payable60 000 3560 D. Zines, Capital_______ 118 020 $193 130$193 130 5.Add foreign currency. Allow transactions with United States suppliers in US dollars. Use account 5015 to track exchange rate differences. Enter 1.019 the exchange rate for Apr. 1, 2017. Display the reminder if the rate is one day old. 6.Edit Account classes: For Undeposited Cash and Cheque, change the account class to Cash. For Chequing Account: CAD, change the account class to Bank. Enter 432 as the next cheque number and 607 as the next deposit slip number. For Chequing Account: USD, change the account class to Bank. Enter 119 as the next cheque number. Change the currency to USD and add $1 515 as the USD balance. For Credit Card Account, change the account class to Credit Card Receivable. For Accounts Receivable, change the account class to Accounts Receivable For Inventory accounts, change the account class to Inventory For Credit Card Payable, change the account class to Credit Card Payable. For Accounts Payable, change the account class to Accounts Payable For all expense accounts, change the account class to Expense. 7.Set up credit cards as follows: Credit Cards Accepted:Credit Card Name: Wishful Discount Fee: 3.5% Linked Asset Account: 1100 Linked Expense Account: 5010 Credit Cards Used:Credit Card Name: Wishful Linked Payable Account: 2150 Linked Expense Account: 5010 8.Enter Sales Taxes and Tax Codes Tax - HST:Not Exempt, Not Taxable, Use 2670 to track tax paid on expenses. Use 2650 to track taxes charged on revenue. Report on taxes Code - H:Tax HST, Taxable, Rate 13%, Not included, Refundable Code - HI:Tax HST, Taxable, Rate 13%, Included, Refundable 9.Enter the ledger settings. Leave unused linked accounts blank. Allow account classes to change. General: Linked AccountsRetained Earnings 3560 Current Earnings 3600 Payables Settings: AddressToronto, Ontario, Canada - Linked AccountsPrincipal Bank Account for CAD 1080 Principal Bank Account for USD 1090 Accounts Payable 2200 Freight Expense 5200 Early Payment Purchase Discount 5100 Prepayments and Prepaid Orders 1260 Receivables Settings: Address Toronto, Ontario, Canada - OptionsAging periods: 15, 30 and 45 days; No interest charges on overdue accounts; Include invoices paid in last 30 days, Use tax code H for new customers - DiscountsPayment terms: 1% after tax discount in 15 days; net 30 days Line discounts are not used - CommentOn Client Invoices: Beauty can be skin deep. - Linked AccountsPrincipal Bank Account for CAD 1060 Principal Bank Account for USD 1090 Accounts Receivable 1200 Default Revenue Leave blank Early Payment Sales Discount 4100 Deposits and Prepaid Orders 2240 Payroll Settings: Names -Incomes & Deductions: Income 1: Salary Income 2: Commission Income 3: No. Clients Income 4: Tuition Delete other Income names Deduction 1: CSB Plan (Canada Savings Bond) Delete other Deduction names Names - Additional Payroll:Worker's Comp: WSIB User-Defined Expense 1: Medical (this is an employee benefit) (Payroll Settings Cont'd) User-Defined Expense 2: Tuition Entitlement 1: Sick Leave Entitlement 2: Vacation Delete other User-Defined Expense and Entitlement names IncomesRegular and Overtime 1: Type - Hourly rate Calculate tax, EI, Insurable Hours, CPP, EHT and vacation Salary: Type - Income Calculate tax, EI, Insurable Hours, CPP and EHT Commission: Type - Income Calculate tax, EI, CPP and EHT No. Clients: Type - Piece rate; Unit of Measure - Clients Calculate tax, EI, CPP, EHT and vacation Tuition: Type - Benefit Calculate tax, CPP and EHT DeductionsCSB Plan by amount deduct after calculating tax, EI, CPP, EHT and vacation TaxesEI Factor is 1.4 WSIB rate is 2.02 EHT factor is 0.98 Payroll Entitlements:Vacation: Track - 6%; Maximum 25 days; Do not clear at Year-end Sick Leave: Track - 2.5%; Maximum 15 days; Clear at Year-end Linked Accounts - IncomeBank 1080 Vacation (Owed) 2300 Advances & Loans 1240 Use 5300 for Vacation Earned, Regular, Overtime, Salary, Commission, No. Clients and Tuition - Deductions:CSB 2400 - Taxes:EI (Payable) 2310 CPP (Payable) 2320 Tax (Payable) 2330 WSIB (Payable) 2460 EHT (Payable) 2360 EI (Expense) 5310 CPP (Expense) 5320 WSIB (Expense) 5330 EHT (Expense) 5360 The remaining Payroll linked accounts are not used. Leave blank. - User-Defined Expenses:Payables - Medical 2380 Payables - Tuition 2390 Expenses - Medical 5380 Expenses - Tuition 5400 Inventory Settings:Options:Sort by description Profit evaluation by markup Do not allow inventory to drop below zero - Linked AccountsAdjustment Write-off 5030 Division Settings:Change the name of Project to Division - AllocationAllocate by percentages- Payroll & Other Transactions Warn if division allocation is not complete Allow access to Allocate field using Tab key 10.Create the following supplier accounts with historical information: Name (Contact), Address Phone/Fax Options, Tax, Account Full Spectrum (Manny Colors)Tel: (716) 662-6682Terms: 2/15, n/30 (after tax) 189 Indigo Way, Buffalo, New York, USA 14209Fax: (716) 662-6164Tax Code: H Currency: USD Medi-Specs (I.N. Spector)Tel: (613) 774-7109Terms: net 15 (after tax) 512 Monitor Ct., Ottawa, ONK6T 7F3Fax: (613) 774-7799Tax Code: H Skin Decals, Inc. (Art)Tel: (905) 526-7191Terms: 2/5, n/15 (after tax) 899 Creative Way, Oakville, ONL5R 2V7Tax Code: H Tax ID: 887 210 092 Historical Supplier Invoices and Payments NameTermsDateInvoice/ChqAmount Full Spectrum2/15, n/30 after taxMar 15/17FS-3903$970USD (990CAD) Skin Decals, Inc.2/5, n/15 (after tax)Mar 25/17SD-621$3 800 Chq 398-1 800 Mar 30/17SD-808 1 510 Balance owing$3 510 Grand Total$4 500 11.Create the following customer accounts with historical information: The credit limit for all customers is $5 000.The terms for all customers are 1/15, n/30. The tax code for all customers is H. If information is not provided, leave fields blank. Customer accounts: Name (Contact), Address Phone/Fax Hart Bridal Party (Bonnie Hart)Tel: (647) 762-6712 Preferred Price ListFax: (647) 762-9991 55 Blissful Blvd., Toronto, ONM1P 7D3 Stan Stoner Tel: (416) 592-9001 110 Abbey Rd., Toronto, ONM8C 9A1 Historical Customer Invoices and Payments NameTermsDateInvoice/ChqAmount Stan Stoner1/15, n/30Mar 28/173104$4 300 Mar 28/17Chq 32 -1 500 Balance owing $2 800 12.Enter the following employee information: Use the linked payroll accounts. Employer pays medical premiums for employees (user-defined expense and employee benefit). Dyes has her tuition paid as a taxable benefit. Both employees have 100% their paycheques deposited directly to their bank accounts. Painter has just been hired so there is no historical data for her. PersonalMagenta DyesCarmine Painter Address345 Ochre Blvd.22 Crimson Ave. Toronto, ONM4H 4R2Toronto, ONM3C 3W1 (416) 882-6234(647) 598-7177 SIN#624 514 774621 628 999 Birth DateApr. 15, 1974Dec. 23, 1980 Date of HireFeb. 1, 2007Mar. 23, 2017 Taxes Tax TableOntarioOntario Federal Claim$21 054$10 527 Provincial Claim$16 834$9 104 (Entire claim amounts are subject to indexing) Additional Federal Tax$100 Deduct EI& CPP (EI Factor)Yes, Yes (1.4)Yes, Yes (1.4) Historical Income Tax$1 202 Historical EI Contributions$167 Historical CPP Contributions$474 Income Advances Historical Amount$150 Benefits (medical plan)$10$20 Benefits Historical Amount$130 Vacation6% retained3 weeks (0%) Vacation Owed$360.00 Salary(do not use)$2 200 bi-monthly Salary Hours per Period80 (Salary hours) Regular Wage$18.00/hr(do not use) Hours per Period35 (Regular hours) Regular Wage Historical Amount$8 190 Overtime wage$27.00/hr(do not use) Overtime Wage Historical Amount$702 Commission(do not use)1%of revenue No. Clients$5(do not use) No. Clients Historical Amount$780 Tuition$50(do not use) Tuition historical amount$650 Pay Periods per Year5224 Deductions CSB Deductions per Pay$50.00$50.00 CSB Historical Contributions$650.00 WSIB and Other Expenses WSIB Rate2.02%2.02% Medical per pay (Historical Medical)$10.00($130.00)$20.00 Tuition per pay (Historical Tuition)$50($650.00) Magenta DyesCarmine Painter Entitlements (Percentage for tracking, maximum days) Sick Leave2.5%, 15 days max; clear2.5%, 15 days max; clear Historical Sick Leave days4 Vacation6.0%, 25 days max; not cleared Historical Vacation days Direct Deposit (100% of paycheques deposited) Branch No., Institution No. and Account numbers 38648, 223, 4556716678,221,2435644 T4 and RL-1 Reporting Historical EI Insurable Earnings$9 672 Historical Pensionable Earnings$10 452 13.Set up a payroll authority. Start a new supplier record for the Receiver General for Canada as the payroll authority for Income Tax, EI and CPP. Leave the remaining supplier fields blank. Settings -Payroll: Remittance and suppliers-Receiver General for Canada Remitting frequency - Monthly End of remittance period - April 15, 2017. 14.Set up job categories. Create two job categories named Sales and Other. Persons in the Sales category are salespersons. Persons in the Other category are not salespersons. Assign the employee Painter to the Sales category. Assign the employee Dyes to the Other category. Select Painter as the salesperson for all sales. 15 Make the following inventory accounts: Variance accounts will not be required. Leave the variance linked account field blank. Allow account classes to change. Customers pay HST on all inks, designs, tattoo services and custom design work. Ink tubes are purchased in lots of 10 tubes per box and stocked and sold as individual tubes. Note: Web pricing is the same as regular pricing. Inventory & Services:Reg(Pref)OpeningLinked Accounts DescriptionNo.UnitMin Price(Price)QtyValueAsset RevC.O.G.S. Ink - Permanent Colour10110 tubes/box50$10($8)80$320144040205060 Ink - Permanent Outline10210 tubes/box2010(8)50250144040205060 Ink - Temporary Colour20110 tubes/box508(7)60300144040205060 Ink - Temporary Outline20210 tubes/box207(5)40160144040205060 Design - Small301 each1025(20)1001 400142040205060 Design - Medium302 each1060(50)1002 900142040205060 Design - Large303each10100(90)1006 500142040205060 Design - Special Order304eachCustom Pricing142040205060 ServiceNo.UnitReg Price(PrefPrice)TaxRevExpense Tattoo application501session$80($70)HST40605070 Design Creation502eachCustom pricingHST40605070 16.Create two divisions starting April 1, 2017. 1. Sales2. ServicesThere are no balances forward.Select: Warn of allocation is not completed and select: Status completed. 17.Back up your work. Continue with the original working copy, DERMAL.SAI. Finish entering the history. 18.Change the session date to April 8, 2017 Add the shortcuts you need and then enter the following transactions: NOTE :Be sure to use the correct bank account for each transaction. If you have set up the accounts correctly, the default account will be correct. EnterCarmine Painter as the salesperson for all sales. Cheque Purchase Invoice #LG-35887 Dated April 2, 2017 From Lee Gull, $2 373, including HST, for legal fee to draw up legal waiver form for business. Paid by cheque #432. Create new Group expense account 5240 Legal Expenses. Allocate 20% of expense to Sales Division and 80% to Services. Use Quick Add for the new supplier. Purchase Order #55 Dated April 3, 2017 Shipping Date April 11, 2017 From Skin Decals, Inc. 20 Designs - Small ($13 ea)$260.00 10 Designs - Medium ($27 ea)270.00 10 Designs - Large ($58 ea)580.00 Courier Freight Charge40.00 HST Paid 149.50 Invoice Total$1 299.50 Terms: 1/10, net 30. Edit the default prices and terms. Cash Receipt #356 Dated April 4, 2017 From Stan Stoner, cheque #2773 for $2 757 in full payment of invoice #3104, taking into account 1% sales discount of $43 for early payment. Purchase Invoice #NN-601 Dated April 4, 2017 From Ned's Needles, $250, plus 13% HST for sterilized needles that fit tattoo gun. Invoice total $282.50. Terms: 1/15, net 30. Use Quick Add for new supplier. Payment Cheque #433 Dated April 4, 2017 To Skin Decals, Inc., $3 479.80 in payment of invoices #SD-621 and SD-808, including $30.20 discount for early payment, and $200 as deposit for purchase order #55. Total cheque amount is $3 679.80. Purchase Invoice #FS-4972 Dated April 5, 2017 From Full Spectrum, 4 boxes Ink - Permanent Colour ($40 ea)$160.00USD 4 boxes Ink - Permanent Outline ($45 ea)180.00USD 4 boxes Ink - Temporary Colour ($45 ea)180.00USD 4 boxes Ink - Temporary Outline ($40 ea)160.00USD HST Paid 88.40 USD Invoice Total$768.40USD Terms: 2/15, net 30 The exchange rate is 1.001 (the exchange rate difference amount may not be allocated) Edit the default prices. Cheque Copy #119 Dated April 6, 2017 To Full Spectrum, $970 USD in full payment of invoice #FS-3903. The exchange rate is 0.990.Paid from Bank: USD Chequing Account. Sales Quote #32 Dated April 6, 2017 Delivery Date April 15, 2014 To Hart Bridal Party (love knot & heart design tattoos for 10 members of wedding party) 10 Ink - Temporary Colour$7/tube 10 Ink - Temporary Outline5/tube 20 Designs - Small20each 10 Tattoo applications70/session HST Charged13% Terms: 1/15, net 30. Sales Invoice #3110 Dated April 6, 2017 To Wanda Wonder (Use Quick Add for new Regular customer) 15 Ink - Permanent Colour$10/tube 6Ink - Permanent Outline6/tube 2Designs - Medium60each 1Design - Large100each 5 Tattoo applications80/session HST Charged13% Terms: 1/15, net 30. Allocate 100% of sales to Sales Division and 100% of services to Services Division. Memo #1 Dated April 6, 2017 Bonnie Hart has accepted the sales quote to Hart Bridal Party and is placing an order. Convert Sales Quote #32 to Sales Order #32 using the same shipping date, prices and terms. Cash Receipt #357 Dated April 7, 2017 From Hart Bridal Party, cheque #188 for $400 as deposit #106 to accept sales order #32. Deposit Slip #607 Dated April 7, 2017 Deposit two cheques received in the past week. Total deposit is $3 157. Cash Sales Invoice #3111 Dated April 8, 2017 To One-time cash customers 12 Ink - Permanent Colour$10/tube 5 Ink - Permanent Outline6/tube 6 Ink - Temporary Colour8/tube 2 Ink - Temporary Outline7/tube 15 Designs - Small25each 15 Tattoo applications80/session HST Charged13% $2 019.31 received in cash. Allocate 100% of sales to Sales Division and 100% of services to Services Division. Memo #2 Dated April 8, 2017 Pay hourly employee, Magenta Dyes for 35 hours regular work. Recover $50 advance. Dyes should be paid for serving 10 clients (No. Clients piece rate pay). Allocate 30% of payroll expenses to Sales and 70% to Service. Issue deposit slip #68. Hints: Use Payroll cheque run.Accept: Payroll Tables are out of date 19.Back up the data files. Continue with the file DERMAL.SAI. Change the session date to April 15, 2017. Enter the following transactions: Purchase Invoice #SD-986Dated April 11, 2017 To fill Purchase Order #55 From Skin Decals, Inc. 20 Designs - Small ($13 ea)$260.00 10 Designs - Medium ($27 ea)270.00 10 Designs - Large ($58 ea)580.00 Courier Freight Charge40.00 HST Paid 149.50 Invoice Total$1 299.50 Terms: 1/10, net 30 (new payment terms). Allocate 100% of freight expense to Sales Division. Memo #3 Dated April 11, 2017 Several boxes of supplies and inventory were damaged after a prolonged power failure. The following items were not usable and should be written off: Sterilized needles$120 Other supplies$80 Tattoo gun$250 30 tubes Ink - Permanent Colouraccept cost price 20 tubes Ink - Temporary Colouraccept cost price Allocate 100% of the cost of equipment and supplies to the Services division and 100% of the cost of damaged ink inventory to the Sales division. Create new General Ledger Group expense account 5210 Damaged Supplies and Equipment. (Hint: two journal entries are required.) Cash Receipt #358 Dated April 11, 2017 From Wanda Wonder, cheque #344 for $901.67 in payment of invoice #3110, taking into account 1% sales discount of $9.11 for early payment. Cash Receipt #359 Dated April 11, 2017 From Stan Stoner, cheque #2789 for $1 000 as deposit #107 in prepayment for tattoo work to be completed over several weeks. Sales Invoice #3112 Dated April 13, 2017 To Stan Stoner 4 Designs - Large$100each 10 Ink - Permanent Outline10/tube 40 Ink - Permanent Colour10/tube 20 Tattoo application80/session HST Charged13% Terms: 1/15, net 30 Allocate 100% of sales to Sales Division and 100% of services to services Division. Accept message. Sales Invoice #3113 Dated April 15, 2017 To Hart Bridal Party, to fill sales order #32 10 Ink - Temporary Colour$7/tube 10 Ink - Temporary Outline5/tube 20 Designs - Small20each 10 Tattoo application70/session HST Charged13% Terms: 1/15, net 30. Allocate 100% of sales to Sales Division and 100% of services to services Division. Credit Card Sales Invoice #3114 Dated April 15, 2017 To One-time credit card customers 20 Ink - Permanent Colour$10/tube 9 Ink - Permanent Outline10/tube 8 Ink - Temporary Colour8/tube 4 Ink - Temporary Outline7/tube 10 Designs - Medium60each 20 Tattoo application80/session HST Charged13% Invoice total $2917.66paid by Wishful. Allocate 100% of sales to Sales Division and 100% of services to Services Division. Purchase Order #56 Dated April 15, 2017 Delivery Date: April 28, 2014 From Full Spectrum, one tattoo gun to replace the damaged equipment. The cost of the new gun is $320 plus HST $41.60. Invoice total $361.60 (USD). Terms: 2/15, net 30. The exchange rate is 0.985. Purchase Invoice # MS-903 Dated April 15, 2017 From Medi-Specs, $260 plus $33.80 HST for routine site and equipment inspection. Invoice total $293.80. Terms: net 15. Create new Group expense account 5250 Licenses and Inspections. Allocate 40% of the expense to Sales Division and 60% to the Services Division. Deposit Slip #608 Dated April 15, 2017 Deposit two cheques received in the past week totaling $1 901.67 and$2 019.31 in cash that consisted of 23 $5, 12 $10, 14 $20, 10 $50, 10 $100 and $4.31 in coins. Total deposit amount was $3 920.98. Memo #4 Dated April 15, 2017 Pay hourly employee, Magenta Dyes for 35 hours regular work. Recover $50 advance. Dyes took one day sick leave during the week. Dyes should be paid for serving 11 clients (No. Clients piece rate pay). Issue deposit slip #69. Allocate 40% of payroll expenses to Sales and 60% to Service. Ignore messages Memo #5 Dated April 15, 2017 Pay salaried employee, Carmine Painter $2 200 her regular bi-monthly salary. Calculate and include sales commission for Painter. Painter took one day sick leave during the pay period (allow negative days to accrue). Issue deposit slip #70. Allocate 30% of payroll expenses to Sales and 70% to Service. Memo #6 Dated April 15, 2017 Transfer $4 000 from Bank: Credit Card to Bank to CAD Chequing Account. Transfer $2 000 USD from Bank: CAD Chequing Account to Bank: USD Chequingto cover upcoming payments. The exchange rate is 0.985. Bank Debit Memo #RCU-4433 Dated April 15, 2017 From Rainbow Credit Union, $600 for loan payment including $100 interest and $500 principal. Total amount withdrawn from CAD Chequing bank account was $600 Allocate 40% of the interest expenses to the Sales Division and 60% to the Services Division. Memo #7 Dated April 15, 2017 Make payroll tax remittance to the Receiver General for the pay periods ending April 15, 2017. Include remittance for income tax, EI and CPP. Issue cheque #434. 20. Bank reconciliation. Set up account 1080 for account reconciliation. Use the following linked accounts. Create new accounts if necessary. Income: Interest 4280 Revenue from Interest Expense1: Bank Charges 5010 Bank & Credit Card Fees Expense2: NSF fee 5010 Bank & Credit Card Fees Adjustment: 5005 Reconciliation Adjustments Reconcile the account using April 1 start date andApril 15 as the statement end date and the reconciliation date. There are two outstanding prior transactions SourceDescriptionDateAmount 606Deposit slipMar 29Deposit $2 600 431Skin Decals, Inc.Mar 30Payment $1 800 ( Hint : after adding the first outstanding transaction, click Insert Outstanding again to access a new transaction line.) Use the following bank statement details to complete the reconciliation. Withdrawalsdepositsbalance Mar. 15Balance forward23 330.00 Mar. 29Deposit 6062 600.00 Mar. 30Cheque 431-1 800.00 Apr. 1Interest on account15.00 Apr. 1Cheque 432-2 373.00 Apr. 4Cheque 433-3 679.80 Apr. 8Deposit 6073 157.00 Apr. 8Payroll transfer Ref #68467.40 Apr. 15Deposit 6083 920.98 Apr. 15Debit memo-600.00 Apr. 15Transfer from 04328-4761994000.00 Apr. 15Transfer to 04328-599901 970.00 Apr. 15Payrolltransfer Ref #69