Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Creating a Balance Sheet for Larrys Landscaping & Garden Supply Scott asks you to help him prepare a balance sheet. Use the Larrys Landscaping &

  1. Creating a Balance Sheet for Larrys Landscaping & Garden Supply Scott asks you to help him prepare a balance sheet. Use the Larrys Landscaping & Garden Supply file you used in the chapter. (Be sure to type your name in the Extra Footer Line of this report.)
    1. He asks you to prepare and print a Summary Balance Sheet as of October 31, 2022. He wants the amounts represented in thousands without cents and with no Date Prepared, Time Prepared, or Report Basis shown. Print, then memorize this report with Name: Summary Balance Sheet October 2022 and save it in your report group.
    2. Scott also asks you to prepare and print a Standard Balance Sheet as of October 31, 2022. He wants amounts to be displayed in thousands, with-out cents, and with the page layout left-aligned but with no Date Pre-pared, Time Prepared, or Report Basis shown. Click the Collapse button to reduce the size of the report so it fits on one page. Print, then memorize this report with Name: Standard Balance Sheet October 2022 and save it in your report group.
  2. Investigating the Balance Sheet Using QuickZoom Scott asks you to help him investigate the Accounts Receivable balance as of October 31, 2022. Use the Larrys Landscaping & Garden Supply file you used in this chap-ter. Open the Summary Balance Sheet October 2022 memorized report. Modify it so that the from date is 10/1/22, click Refresh, and then investigate the Accounts Receivable balance.
    1. Print the resulting Transactions by Account report after removing the Date Prepared, Time Prepared, and Report Basis header information.
    2. Examine and print a copy of invoice 76.
  3. Customizing a Balance Sheet Use the Larrys Landscaping & Garden 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 November amounts with a % of Column. Change the report title and format the page as shown in Figure 2.15. Print the report with your name in the Extra Footer Line in portrait orientation.

image text in transcribed

n 10t Oct 1 ww a, S of Column 119 26 10 ] 122 14 8 144 12 Figure 2.15 Larry's Landscaping & Garden Supply Comparative Summary Comparative Summary Balance Sheet Balance Sheet As of November 30, 2022 $, of Colum ASSETS Current Asset Checkra/Savings 129 xx Accounts Receivable Other Current Asus Tots Current Assets 139 Fixed Assets 12 8% TOTAL ASSETS 151 100% LIABILTIES & EQUITY Libilities Current List Accounts Payable Credit Cards Other Current Liabilities Total Current Liabilities Long Term Liabilities 32 Total Liabilities 39 26% Equity 112 74% TOTAL LIABILITIES & EQUITY 151 100% 155 12 157 156 100% 1% 1% 3% 1:17 | [] |F 31 41 115 121 156 100% n 10t Oct 1 ww a, S of Column 119 26 10 ] 122 14 8 144 12 Figure 2.15 Larry's Landscaping & Garden Supply Comparative Summary Comparative Summary Balance Sheet Balance Sheet As of November 30, 2022 $, of Colum ASSETS Current Asset Checkra/Savings 129 xx Accounts Receivable Other Current Asus Tots Current Assets 139 Fixed Assets 12 8% TOTAL ASSETS 151 100% LIABILTIES & EQUITY Libilities Current List Accounts Payable Credit Cards Other Current Liabilities Total Current Liabilities Long Term Liabilities 32 Total Liabilities 39 26% Equity 112 74% TOTAL LIABILITIES & EQUITY 151 100% 155 12 157 156 100% 1% 1% 3% 1:17 | [] |F 31 41 115 121 156 100%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting 2007 FASB Update Volume 2

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

12th Edition

0470128763, 978-0470128763

More Books

Students also viewed these Accounting questions

Question

What is the main advantage to this tactic?

Answered: 1 week ago

Question

What administrative cost items are associated with this tactic?

Answered: 1 week ago

Question

What is the full-cost budget?

Answered: 1 week ago