Do Chapter 6 Shirts and Ties Option A with the following changes: 1. Please use pencil to change Ch 6 instructions and document dates from 2026 to 2022. If your reports show 2026 or other years, it will be assumed you are copying someone else's data file and will receive substantial deduction in marks. 2. When creating the company, change the fiscal year to 2022. The trial balance in Ch 6 would be current year trial balance entered as historical amounts. (Note: expense accounts should be in ascending alphabetical sequence. Tip: use exported chart of account and sort in Excel. Demo videos posted.) Fiscal year start date is Jan 1, 2022. Earliest transactions date is July 31, 2022 (last day of using manual accounting). 3. The equity accounts (Capital, Drawings) for groups: Put all your last names as the name of the proprietor. For long last names, just the first 8 characters. Example: A group with members, David Tam and Susan Smith, will have the capital account changed as Capital, Tam Smith. 4. P.6-365, SD-1, change payee from McTavish building Management to (Your last name initials) Management Inc. Example: A group with members, David Tam and Susan Smith, will have an entry as TS Management Inc. Change the rent amount to $2,500 plus HST. Set this up as a new vendor with no credit term and payment method is by cheque. 5. Set up new vendors for payments made to payees not on the vendor list except for Meadow Insurance which should be using the one-time vendor/supplier option and show the name. 6. All invoices from vendors (including historical invoices) should have invoice No. starting with your initials. Example: E.g. A group with members, David Tam and Joe Smith, will enter, SD-9 on P.6-369 Invoice No. 2689 as TS2689. This applies to July 31 Accounts Payable Details on P. 6-364 for Arrow Clothing Centre and Polo Accessories. This does not apply to Accounts receivable invoices. 7. SD-11, please avoid the common error of debiting only one HST account. HST remittance will affect both HST Charged on Sales and HST Paid on Purchases. 8. SD-15, Change the insurance amount to $2,500 plus 8% HST. (ck amount is $2,700) This tax is not refundable. That means the tax code set up should result in the 8% being part of insurance cost. Record the payment as a debit to the asset account. 9. Prepare an adjusting entry at the end of the month to recognize one month's insurance cost expired. (See step 8 above.) Enter your calculation in the additional field2700/12-225. Store the adjustment as a recurring transaction. Assume previous policy is fully expensed. Prepaid expenses balance is for some other prepayments. 10. Use Appendix H (Inventory and Services Module Setup Perpetual Inventory) to include the inventory set up but use information from Shirts and Ties instead of Sarah's Kitchen. This is designed to test your ability to learn on your own. However, you can have free consulting from me during class or office hour to set up Inventory.