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Document No. 1 Transactions List December 16-31, 2022 Complete each of the following transactions in accordance with the seven-step process on pages 11-12 pages 18-24 for details as to (a) documents to prepare, (b) approvals and other internal control appropriate. or used: cFord. and Jim Adams, Flowchart page references are included in the third column of the transactions list where Some of the following events require the preparation or modification of documents and some do not Although documents accompany mest business transactions, you are asked to prepare and work with symbols, which determine whether documents from the document set in this project must be prepared only a representative sample in this project. Each event on the transactions list includes one of two You are required to prepare or modify documents from the document set for this event. An accounting entry may or may not be required. You are not required to prepare or modify documents from the document set because documents would not normally be prepared or modified for this type of event. An accounting entry is required, with one exception: annual change in employee pay rates. Yes No Hints are provided in boxed areas like this. Trans. # Dec. 1 16th Document? Flowchart Description Yes Received customer purchase order No. 53426(Doc No. 4) from Rosemont University, approved their credit and shipped the goods. All goods ordered were shipped, except that only 45 shoulder pad sets were available for shipment. p. 18-19 Carrier & number: Allied Trucking: Carrier number 2154 Freight charges: FOB shipping point (i.e, will be paid by Rosemont) Route: Express Truck & driver: Truck 2961XZ, John Arens Freight rate: $37.00 per 100 lbs. Shipment: 5 cartons/goal and rim sets @42 lbs./carton 2 cartons/backboards @123 lbs./carton 9 cartons/shoulder pad sets 30 lbs./carton 4 cartons/football helmets@ 32 lbs./carton Rosemont's credit limit is documented in their subsidiary ledger account. You will use several documents and record an entry in the sales journal and the accounts receivable subsidiary ledger for this transaction. For guidance in preparing the bill of lading, see pages 35-36 of the Reference book. Trans. Dec. Document 7 Flowchart Description Received an email notification from First American Bank and Trust for an ACH pay Yes ment from Branch College. ACH payment recelved was $1,622.88 for payment in full of charge sale invoice No. 730. A 21 2 16th N 3 16th Yes A22 100 Ordered the following inventory on account from Velocity Sporting Goods, using purchase order No. 328 (Doc. No. 16). Units Item Description 115 BB-019 Basketball pole pad 125 BB-538 Basketball bag 75 BB-431 Whistle and lanyard-set of 6 50 BB-399 Basketball net FB-027 Shoulder pad set (to cover back order and inventory restock) Vendor address: 1285 Colgrove Ave, Pierre, SD 57501 Freight carrier: Interstate Motor Freight Freight charges: FOB shipping point (.e, will be paid later by Waren) Allowances: None Use purchase order No. 325 (Doc No. 16) as a guide Use the price list (Doc No. 3). No receiving or recording occurs at this point for this transaction. File purchase order copies following the flowchart guidance. Received office supplies from Chicago Office Supply as listed on purchase order No. 327 (Doc No. 16), a copy of which is being held in accounting, Chicago Office Supply's vendor invoice No. 2378 (Doc No. 18) was received with the goods. All supplies ordered were received in good condition and taken directly to the office, but the invoice was not paid. . 4 19th Yes R22 5 19th Yes A 21 Borrowed $90,000 from First American Bank and Trust by issuing a two-year note payable (Doc No. 14) with a stated annual interest rate of 5.5%. Peceived an email notification from the bank that the $90,000 proceeds were electronically deposited into Waren's checking account. Reviewed the terms and conditions of the note and signed it (Ray Kramer) as the borrower. Follow the ACH deposit procedures in the flowchart and be sure to file the note in the Banking filetab Received sales return request No. R8034 (Doc No. 12) from Eastern Wisconsin University (EWU). The request was approved, and the acknowledgment copy mailed to EWU. 6 19th Yes A 20 You can't record the sales return yet because the goods have not yet been received from Eastern Wisconsin University. Received vendor invoice No. 105963 (Doc. No. 18) from First Security Insurance for the fourth quarter's health insurance coverage for employees and immediately issued a check (Doc. No. 20) for payment in full. 7 20th Yes A 23 - Purchase orders are not issued for services that Waren purchases. rans. Dec. 8 20th . 20th . Document Flowchart Description No Increased employee pay rates effective for the December 16th-31st semimonthly pay period. There were no changes in filing status or withholding allowances. New Pay Rate NA Ray Kramer $3,575 semlmonthly Jim Adams $2200 per hour Nancy Ford $18.20 per hour No accounting entries are necessary, but you must update the pay rate history information in the Pay Rate History Tab. Received merchandise from Velocity Sporting Goods as listed on purchase order Yes No. 328. All merchandise listed on the purchase order was delivered in good condi- tion and in the quantities ordered, except that only 67 basketball pole pads (tem No. BB-019) were received. The goods were placed immediately in the inventory P 22 warehouse. You can't record a purchase yet because the invoice hasn't been received. Filled the backorder quantity of 30 shoulder pad sets for Rosemont University's Yes customer purchase order No. 53426 (Doc No. 4). Approved Rosemont's credit and shipped the back ordered shoulder pad sets. Prepared a new charge sale invoice (Doc No. 6) for the sale to Rosemont. A 18-19 Carrier & number: Allied Trucking: Carrier number 2154 Freight charges: FOB shipping point (ie, will be paid by Rosemont) Route: Express Truck & driver: Truck 2988XZ, Jennifer Hansen Freight rate: $37.00 per 100 lbs. Shipment: 6 cartons/shoulder pad sets 30 lbs./carton Rosemont's credit limit is documented in their subsidiary ledger account. You will use several documents and record an entry in the sales journal and the accounts receivable subsidiary ledger for this transaction. For guidance in preparing the bill of lading, see pages 35-36 of the Reference book. 5 21st . 22nd Yes Received vendor invoice No. 34719 (Doc. No. 18) from Velocity Sporting Goods for goods ordered December 16th and received December 20th. R22 Upon receiving the invoice, you can now record the purchase using the date on which Waren incurred the liability for the goods, December 20th. Received legal notification from Benson, Rosenbrook, and Martinson, P.C. attorneys at law, that Stevenson College had filed bankruptcy and will most likely be unable to pay any of its outstanding debts to its suppliers. Write off the account as a bad debt. 23rd No R 19 Remember that Waren Sports Supply uses the "Allowance method rather than "Direct write-off" for accounting for bad debts PRICE LISTS VELOCITY SPORTING GOODS: Description Cost Item No. Selling Price Bat Baseballs Fielding glove Dry line marker Catchers mask Baseball equip bag Ball bucket wi seat Batting gloves Pilching machine Set of bases $139.00 $42.00 S46.00 $65.00 $48.00 $27.00 $23.00 $24.00 $164.00 $111.00 $220.00 $64.00 $72.00 599.00 $66.00 $41.00 $33.00 $37.00 S246.00 $177.00 Baseball items: BA-054 BA-158 BA-199 BA-281 BA-445 BA-507 BA-667 BA-694 BA-807 BA-859 Basketball items: BB-008 BB-019 BB-113 BB-267 BB-358 BB-399 BB-431 BB-538 BB-688 BB-926 Football Items FB-027 FB-001 FB-225 FB-344 FB-513 FB-573 FB-650 FB-812 FB-874 FB-952 Basketball Basketball pole pad Scoreboard & timer Goal and rim set Backboard Basketball net Whistle & lanyard Basketball bag Inflation pump Trainers first aid kit $25.00 $94.00 $268.00 $95.00 $83.00 $10.00 $25.00 $26.00 $69.00 $30.00 $35.00 $135.00 $400.00 $141.00 $128.00 $18.00 $38.00 $41.00 $108.00 $39.00 Shoulder pad set Hipitaillarm pad set Football helmet Football Storage locker Kicking tees Football post pad Collapsible cones Sideline repair Kit Hand wamer $89.00 $131.00 $39.00 S58.00 S55.00 $90.00 $21.00 $29.00 $135.00 $195.00 $16.00 S2100 $96.00 $136.00 $27.00 $39.00 583.00 $129.00 $26.00 $42.00 CHICAGO OFFICE SUPPLY: Description vom NO CHICAGO OFFICE SUPPLY: Item No Description Cost 4126 4733 5207 8509 5302 6211 6218 2342 6277 7246 11477 17144 15321 Laser printer toner cartridge Copier paper.box | Manilla file folders - box of 50 16 GB flash drive 3 pack Invoice forms: 100 Legal pad-box of 12 Correction tape box of 6 Black ink pens box of 12 Pendilsbox of 24 Business envelopes box of 1000 27/LED QHD monitor Standing workstation 146 GB rack server $124.76 $39.95 $12.50 $19.25 $16.50 $7.95 $13.25 $12.75 $225 $19.50 $272.00 $395.00 $6,950,00 Approved By Ray Kiame Document No.3 Page 1
