I need help with this case. With a general ledger.
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Part 1170 points) Elte Consulting inc. is a small computer consulting business. The company is organized as a corporation and provides consulting services, computer system installations, and custom program development. Elite Consulting in showed the flowing alphabetized post-closing trial balance at February 28, 2014 Account Accounts payable 2500 Accounts receivable 102.000 Accumulated depreciation building 4,000 Building 49.500 Cach 107.500 Roland is 111.000 Share Capit 119.500 Note There were 4000 shares issued and outstanding on February 28, 2014 Depreciation on the building is $600 per month El Consulting in salaries expenses a total of 5700 per day for each work day (Monday Friday) in the month for simplicity, please gore all statutory holidays) The following source documents are from March Dr Marc Otwa Poww Set 3 1940 roman of Man 3603 Meme ConforX200 Office 4 We are 2954 Wroc Mars MacBook Air Deposit slip (March 1) IX XYZCo 5741 Exchange Avenue Ottawa, Ontario G5S 509 Date: March 1, 2014 Account No.: 9440 Elite Consulting Inc. 1016 Falton Avenue Ottawa, Ontario F9R 507 Olting Cash Cheques (re: 1,000 shares issued today) $30,000 Total Deposits $30,000 Se simplicity, please note all statutory holidays) delete 0 Inter-Office Memo 1 Date: March 1, 2014 From: Adam Uppe To: Office Assistant Subject: Cash Disbursement Please write a cheque to EastCo in the amount of $2,400. This will pay for insurance for the next 12 months Thanks, Adam Uppe iting e simplicity, please ignore all statutory holidays) 0 o Purchase Order 5048 Elite Consulting Inc. 1016 Falton Avenue Ottawa, Ontario FOR 507 Date: March 2, 2014 PO No: 5948 Vendor: Judith's Computers 2452 21 Street Ottawa, Ontario L7X 417 Ship To: Elite Consulting In 1016 Falton Avenue Ottawa, Ontario FOR 507 Item No. Ordered Description Unit Total Price $22,800 $22,800 sulting COM357 1 Computers Estimated useful le : 10 years Estimated residual value: $2.520 Sub Total $22.800 for simplicity, please ignore all statutory holidays) Elite Consulting Inc. 1016 Falton Avenue Ottawa, Ontario FOR 507 Receipt 3631 Date March 3, 2014 Receipt No.: 3631 adsheet Customer: TrexCo 1656 Sesame Trail Ottawa, Ontario P9Q 4F4 Rep. Dallas Glynn Unit Price Total es consulting Qty Description 10 Ongoing consulting regarding security, per month. To begin immediately and end December 31, 2014 $1,300 $13,000 Total: $13,000 Paid $13.000 Balance Due 50 month for simplicity, please Ignore all statutory holidays) 0 8 K Judith's Computers 2452 21 Street Ottawa, Ontario L7X 477 Invoice 911 Date: March 4, 2014 Invoice No.: 911 eet Adarn Uppe Customer: Elite Consulting Inc. 1016 Falton Avenue Ottawa, Ontario FOR 507 Rep: PO No.: 5948 Qty Description Unit Total Price $22,800 $22.800 onsulting 1 Computers as ordered on March 2 2014. Estimated useful life: 10 years Estimated residual value: $2.520. Sub- Total: $22,800 Freight: 0 th or simplicity, please note all statutory holidays) Gole P 0 Elite Consulting Inc. 1016 Falton Avenue Ottawa, Ontario F9R 507 Invoice 9891 Date: March 11, 2014 Invoice No.: 9891 sheet Customer: XYZCD 8951 55 Street Ottawa, Ontario U10 155 Rep: Shawna Cameron PO No.: Verbal Qty Description Total Unit Price $116 consulting $928 $116 $928 B Initial consultation to determine new program requirements, per hour B Follow-up consultation to confirm proposed program specification, per hour 40 System wide testing on new program per hour 24 Training on new computer software, por hour $116 $4,640 $116 $2,784 Onth for simplicity, please ignore all statutory holidays) 9 P K Elite Consulting Inc. 1016 Falton Avenue Ottawa, Ontario FOR 507 Receipt 3832 Date: March 14, 2014 Receipt No: 3632 adsheet Customer: Northco 12287 80 Avenue Ottawa, Ontario C&A 6H3 Rep Linda Champion Invoice No.: Verbal Qty Description os consulting 3 Troubleshooting, per hour Unit Price Total $116 $348 Total: $348 Paid: $348 Balance Due 50 month for simplicity, please ignore will statutory holidays) E Receipt from Jan's Diner Jan's Diner 2853 28 Street Ottawa, Ontario 495-4584 Check #764653 Server: Avery Date: March 15, 2014 Time: 12:57 Table: 28 3 Coffee 3 Pizza, hawatan onsulting 2 Steak sandwich 6.00 33.00 26.00 Total: $65.00 Cash Received: $65.00 Thank you for dining with us! th or simplicity, please ignore all statutory holidays) . o o . Elite Consulting Inc. 1016 Falton Avenue Ottawa, Ontario FOR 507 Invoice 9892 Date: March 17, 2014 Invoice No.: 9892 Customer: Northco 8522 39 Street Ottawa, Ontario G6C 3G8 Rep: Susan Montgomery PO No.: Verbal Qty Description Unit Total Price $72 $6.912 sulting 96 Follow-up consultation to confirm proposed program specification, per hour 72 System wide testing on new program, per hour 572 $5,184 Sub $12,096 Total (for simplicity, please ignore all statutory holidays) doo E Tey K C Inter-Office Memo 2 preadsheet Date: March 20, 2014 From: Adam Uppe To: Office Assistant Subject: New Hire Hector Mendez has accepted our job offer and will begin employment with us on April 1. Please get everything ready for that date Thanks, Adam Uppe vides consulting 014 he month for simplicity, please ignore all statutory holidays) Dne 8 9. 0 K Ottawa Power Ottawa Power Customer Name: Elite Consulting Inc 12000 77 Avervue Account No.: 3045953 Ottawa, Ontario KSX 4N2 Service Period: 01/Mar - 22/Mar Invoice Date: March 22, 2014 Previous Charges Previous balance forward $500 Payment on February 28 $-500 Total previous charges $0 tind Current Charges Water and sewage Natural Gas Electricity Total current charges $300 $250 $50 5600 Amount Due 5600 or simplicity, please lgnore all statutory holidays) o P 0 ret K Elite Consulting Inc 1016 Falton Avenue Ottawa, Ontario FOR 507 Receipt 3634 Date: March 23, 2014 Receipt No.: 3634 sheet Customer Northco 8522 39 Street Ottawa, Ontario G6C 3GB Rep: Susan Montgomery Unit Price Total $0 Qty Description Balance forward sconsulting 1 Invoice 9892 (on March 17. 2014) $12,096 $12,096 Total: $12,098 Paid: $12,096 Balance Due $0 month for simplicity, please ignore all statutory holidays) 0 8 P . Inter-Office Memo 3 Date: March 25, 2014 From: Adam Uppe To: Office Assistant Subject: Cash Disbursement het Please prepare a cheque for salaries owed to employees for the period March 1 to March 25. Thanks, Adam Uppe consulting nith (for simplicity, please Ignore all statutory holidays) 9 8 P K Elite Consulting Inc. 1016 Falton Avenue Ottawa, Ontario FSR 507 Recei 3633 Date: March 29, 2014 Receipt No: 3633 Cheet Customer EastCo 4899 Exchange Avenue Ottawa, Ontario G8K 7U8 Rep: Travis Goodall Invoice No.: Verbal Qty Description 8 Instructional seminar, per hour Unit Price Total $72 5576 consulting Total: $575 Paid: $576 Balance Due 50 onth for simplicity, please ignore all statutory holidays). S P Customer Statement for XYZCO Elite Consulting Inc. 1016 Falton Avenue Ottawa, Ontario Date: March 31, 2014 FOR 507 dsheet Customer: XYZC0 8951 55 Street Ottawa, Ontario U1D 155 Date Description March 1 Balance forward March 11 Invoice 9891 Amount Balance $0 $9.280 $9,280 des consultind Amount Due 59.280 month or simplicity, please ignore all statutory holidaya) Toner 0 8. K meet Inter-Office Memo4 Date: March 31, 2014 From: Adam Uppe To: Office Assistant Subject: Cash Disbursement Please prepare a cheque to pay the Ottawa Power bill received on March 22 Thanks, Adam Uppe consulting onth for simplicity, please ignore all statutory holidays) ate o 8 P K Inter-Office Memo 5 sheet Date: March 31, 2014 From: Adam Uppe To: Office Assistant Subject Cash Disbursement Please prepare a chequo to pay dividends of $0.18 per share to shareholders of record on today's date. Thanks, Adam Uppe sconsulting shoot (for smolicity, please ignore all statutory holidays) - 0 K Recept 2954 Date: March 31, 2014 Receipt No: 2954 Joseph's Repair Services 7741 Falton Trail Ottawa, Ontario T2Y 8T3 Customer: Elite Consulting Inc. 1016 Falton Avenue Ottawa, Ontario FOR 507 Rep: Adam Uppo Qty Description consulting 1 Repairs to building Unit Price Total $900 5900 Totat 5900 Paid: $900 Balance Du 50 onth for simplicity, please ignore al statutory holidays) P K K E sheet Inter-Office Memo 6 Date: March 31, 2014 From: Adam Uppe To: Office Assistant Subject: Cash Disbursement Please prepare a cheque to City of Ottawa in the amount of 5900 This will pay for this month's property taxes expense. Thanks, Adam Uppe s consultin nonth (for simplicity, please ignore all statutory holidays) 0 8 P . Receipt from Harold's Diner sheet Harold's Diner 2611 Franklin Place Ottawa, Ontario 208-1547 Check #: 464934 Server. Kimberly Table: 42 Date: March 31, 2014 Time: 12:57 3 Pop 2 Club sandwich 3 Hamburger s consulting 9.00 18.00 21.00 Total: $48.00 Cash Received: $48.00 Thank you for dining with us! month or simplicity, please ignore all statutory holidays) 9 P . Anayechorros preparerenties un sinton Notesouro documents may not require an entry Also, a bilate recorded them.on the day they received the description when entering the transaction the mal. Das must be entered on the format ddim January 15 would be 150an) Posu PAGI DO 30.000 30.000 Accordion Car Be Capital Abonato tar Can the Congo R Page FO Date Geen ouma AGE PO4 Obit het + T b) What is the next step in the accounting cycle? O Prepare closing entries O Prepare adjusting entries O Prepare an adjusted trial balance O Prepare a post-closing trial balance O Prepare an unadjusted trial balance Prepare financial statements This is the last step O Post transactions Part 1170 points) Elte Consulting inc. is a small computer consulting business. The company is organized as a corporation and provides consulting services, computer system installations, and custom program development. Elite Consulting in showed the flowing alphabetized post-closing trial balance at February 28, 2014 Account Accounts payable 2500 Accounts receivable 102.000 Accumulated depreciation building 4,000 Building 49.500 Cach 107.500 Roland is 111.000 Share Capit 119.500 Note There were 4000 shares issued and outstanding on February 28, 2014 Depreciation on the building is $600 per month El Consulting in salaries expenses a total of 5700 per day for each work day (Monday Friday) in the month for simplicity, please gore all statutory holidays) The following source documents are from March Dr Marc Otwa Poww Set 3 1940 roman of Man 3603 Meme ConforX200 Office 4 We are 2954 Wroc Mars MacBook Air Deposit slip (March 1) IX XYZCo 5741 Exchange Avenue Ottawa, Ontario G5S 509 Date: March 1, 2014 Account No.: 9440 Elite Consulting Inc. 1016 Falton Avenue Ottawa, Ontario F9R 507 Olting Cash Cheques (re: 1,000 shares issued today) $30,000 Total Deposits $30,000 Se simplicity, please note all statutory holidays) delete 0 Inter-Office Memo 1 Date: March 1, 2014 From: Adam Uppe To: Office Assistant Subject: Cash Disbursement Please write a cheque to EastCo in the amount of $2,400. This will pay for insurance for the next 12 months Thanks, Adam Uppe iting e simplicity, please ignore all statutory holidays) 0 o Purchase Order 5048 Elite Consulting Inc. 1016 Falton Avenue Ottawa, Ontario FOR 507 Date: March 2, 2014 PO No: 5948 Vendor: Judith's Computers 2452 21 Street Ottawa, Ontario L7X 417 Ship To: Elite Consulting In 1016 Falton Avenue Ottawa, Ontario FOR 507 Item No. Ordered Description Unit Total Price $22,800 $22,800 sulting COM357 1 Computers Estimated useful le : 10 years Estimated residual value: $2.520 Sub Total $22.800 for simplicity, please ignore all statutory holidays) Elite Consulting Inc. 1016 Falton Avenue Ottawa, Ontario FOR 507 Receipt 3631 Date March 3, 2014 Receipt No.: 3631 adsheet Customer: TrexCo 1656 Sesame Trail Ottawa, Ontario P9Q 4F4 Rep. Dallas Glynn Unit Price Total es consulting Qty Description 10 Ongoing consulting regarding security, per month. To begin immediately and end December 31, 2014 $1,300 $13,000 Total: $13,000 Paid $13.000 Balance Due 50 month for simplicity, please Ignore all statutory holidays) 0 8 K Judith's Computers 2452 21 Street Ottawa, Ontario L7X 477 Invoice 911 Date: March 4, 2014 Invoice No.: 911 eet Adarn Uppe Customer: Elite Consulting Inc. 1016 Falton Avenue Ottawa, Ontario FOR 507 Rep: PO No.: 5948 Qty Description Unit Total Price $22,800 $22.800 onsulting 1 Computers as ordered on March 2 2014. Estimated useful life: 10 years Estimated residual value: $2.520. Sub- Total: $22,800 Freight: 0 th or simplicity, please note all statutory holidays) Gole P 0 Elite Consulting Inc. 1016 Falton Avenue Ottawa, Ontario F9R 507 Invoice 9891 Date: March 11, 2014 Invoice No.: 9891 sheet Customer: XYZCD 8951 55 Street Ottawa, Ontario U10 155 Rep: Shawna Cameron PO No.: Verbal Qty Description Total Unit Price $116 consulting $928 $116 $928 B Initial consultation to determine new program requirements, per hour B Follow-up consultation to confirm proposed program specification, per hour 40 System wide testing on new program per hour 24 Training on new computer software, por hour $116 $4,640 $116 $2,784 Onth for simplicity, please ignore all statutory holidays) 9 P K Elite Consulting Inc. 1016 Falton Avenue Ottawa, Ontario FOR 507 Receipt 3832 Date: March 14, 2014 Receipt No: 3632 adsheet Customer: Northco 12287 80 Avenue Ottawa, Ontario C&A 6H3 Rep Linda Champion Invoice No.: Verbal Qty Description os consulting 3 Troubleshooting, per hour Unit Price Total $116 $348 Total: $348 Paid: $348 Balance Due 50 month for simplicity, please ignore will statutory holidays) E Receipt from Jan's Diner Jan's Diner 2853 28 Street Ottawa, Ontario 495-4584 Check #764653 Server: Avery Date: March 15, 2014 Time: 12:57 Table: 28 3 Coffee 3 Pizza, hawatan onsulting 2 Steak sandwich 6.00 33.00 26.00 Total: $65.00 Cash Received: $65.00 Thank you for dining with us! th or simplicity, please ignore all statutory holidays) . o o . Elite Consulting Inc. 1016 Falton Avenue Ottawa, Ontario FOR 507 Invoice 9892 Date: March 17, 2014 Invoice No.: 9892 Customer: Northco 8522 39 Street Ottawa, Ontario G6C 3G8 Rep: Susan Montgomery PO No.: Verbal Qty Description Unit Total Price $72 $6.912 sulting 96 Follow-up consultation to confirm proposed program specification, per hour 72 System wide testing on new program, per hour 572 $5,184 Sub $12,096 Total (for simplicity, please ignore all statutory holidays) doo E Tey K C Inter-Office Memo 2 preadsheet Date: March 20, 2014 From: Adam Uppe To: Office Assistant Subject: New Hire Hector Mendez has accepted our job offer and will begin employment with us on April 1. Please get everything ready for that date Thanks, Adam Uppe vides consulting 014 he month for simplicity, please ignore all statutory holidays) Dne 8 9. 0 K Ottawa Power Ottawa Power Customer Name: Elite Consulting Inc 12000 77 Avervue Account No.: 3045953 Ottawa, Ontario KSX 4N2 Service Period: 01/Mar - 22/Mar Invoice Date: March 22, 2014 Previous Charges Previous balance forward $500 Payment on February 28 $-500 Total previous charges $0 tind Current Charges Water and sewage Natural Gas Electricity Total current charges $300 $250 $50 5600 Amount Due 5600 or simplicity, please lgnore all statutory holidays) o P 0 ret K Elite Consulting Inc 1016 Falton Avenue Ottawa, Ontario FOR 507 Receipt 3634 Date: March 23, 2014 Receipt No.: 3634 sheet Customer Northco 8522 39 Street Ottawa, Ontario G6C 3GB Rep: Susan Montgomery Unit Price Total $0 Qty Description Balance forward sconsulting 1 Invoice 9892 (on March 17. 2014) $12,096 $12,096 Total: $12,098 Paid: $12,096 Balance Due $0 month for simplicity, please ignore all statutory holidays) 0 8 P . Inter-Office Memo 3 Date: March 25, 2014 From: Adam Uppe To: Office Assistant Subject: Cash Disbursement het Please prepare a cheque for salaries owed to employees for the period March 1 to March 25. Thanks, Adam Uppe consulting nith (for simplicity, please Ignore all statutory holidays) 9 8 P K Elite Consulting Inc. 1016 Falton Avenue Ottawa, Ontario FSR 507 Recei 3633 Date: March 29, 2014 Receipt No: 3633 Cheet Customer EastCo 4899 Exchange Avenue Ottawa, Ontario G8K 7U8 Rep: Travis Goodall Invoice No.: Verbal Qty Description 8 Instructional seminar, per hour Unit Price Total $72 5576 consulting Total: $575 Paid: $576 Balance Due 50 onth for simplicity, please ignore all statutory holidays). S P Customer Statement for XYZCO Elite Consulting Inc. 1016 Falton Avenue Ottawa, Ontario Date: March 31, 2014 FOR 507 dsheet Customer: XYZC0 8951 55 Street Ottawa, Ontario U1D 155 Date Description March 1 Balance forward March 11 Invoice 9891 Amount Balance $0 $9.280 $9,280 des consultind Amount Due 59.280 month or simplicity, please ignore all statutory holidaya) Toner 0 8. K meet Inter-Office Memo4 Date: March 31, 2014 From: Adam Uppe To: Office Assistant Subject: Cash Disbursement Please prepare a cheque to pay the Ottawa Power bill received on March 22 Thanks, Adam Uppe consulting onth for simplicity, please ignore all statutory holidays) ate o 8 P K Inter-Office Memo 5 sheet Date: March 31, 2014 From: Adam Uppe To: Office Assistant Subject Cash Disbursement Please prepare a chequo to pay dividends of $0.18 per share to shareholders of record on today's date. Thanks, Adam Uppe sconsulting shoot (for smolicity, please ignore all statutory holidays) - 0 K Recept 2954 Date: March 31, 2014 Receipt No: 2954 Joseph's Repair Services 7741 Falton Trail Ottawa, Ontario T2Y 8T3 Customer: Elite Consulting Inc. 1016 Falton Avenue Ottawa, Ontario FOR 507 Rep: Adam Uppo Qty Description consulting 1 Repairs to building Unit Price Total $900 5900 Totat 5900 Paid: $900 Balance Du 50 onth for simplicity, please ignore al statutory holidays) P K K E sheet Inter-Office Memo 6 Date: March 31, 2014 From: Adam Uppe To: Office Assistant Subject: Cash Disbursement Please prepare a cheque to City of Ottawa in the amount of 5900 This will pay for this month's property taxes expense. Thanks, Adam Uppe s consultin nonth (for simplicity, please ignore all statutory holidays) 0 8 P . Receipt from Harold's Diner sheet Harold's Diner 2611 Franklin Place Ottawa, Ontario 208-1547 Check #: 464934 Server. Kimberly Table: 42 Date: March 31, 2014 Time: 12:57 3 Pop 2 Club sandwich 3 Hamburger s consulting 9.00 18.00 21.00 Total: $48.00 Cash Received: $48.00 Thank you for dining with us! month or simplicity, please ignore all statutory holidays) 9 P . Anayechorros preparerenties un sinton Notesouro documents may not require an entry Also, a bilate recorded them.on the day they received the description when entering the transaction the mal. Das must be entered on the format ddim January 15 would be 150an) Posu PAGI DO 30.000 30.000 Accordion Car Be Capital Abonato tar Can the Congo R Page FO Date Geen ouma AGE PO4 Obit het + T b) What is the next step in the accounting cycle? O Prepare closing entries O Prepare adjusting entries O Prepare an adjusted trial balance O Prepare a post-closing trial balance O Prepare an unadjusted trial balance Prepare financial statements This is the last step O Post transactions
