i need the following reports regarding these transactions: using the accrual basis
1.) income statement- january
2.) balance sheet as of january 31
3.) journal for january
4.) General Ledger January
G styles Number Al Al Electric H D Let's create a business that is a sole proprietor business called "Your Name" Training Services. For the business address, please use: 3939 Valley View Lane, Farmers Branch, TX 75244. The cash was invested 12/2015 and business began lanuary, 2016, Create ? employees. Yourself and one parttime hourly employee. (Do not input real social security numbers. Please choose anything you want for martial status, exemptions, but let's make them reside in TX.) of this function is not available in your version of QuickBooks, don't worry. You will create customers, vendors, and employees. Topay employees we will need to use a journal entry to create manual payroll. There are 3 training courses: Tax training is billed at $125/hour plus $35 per manual Audit training is billed at $150/hour plus $30 per manual. Payroll training is billed at $100/hour plus $25 per manual. Three sevice items and inventory items (manuals). You may need to go to the edit menu, preferences, items, and activate the inventory. 10 13 12 13 44 Customers Vendors 15 Allectie 17 Betty Boss 18 Down the Drain Plumbing 19 Al Electric 20 E2 Products 21 Helping Hands Office Depot Paper Supplies, Inc Best Buy Turbo Tax Fine Publishing Texas Utilities Type here to search O li 11:18 10/6/26 General BIU. $ -% -88 Conditional Formatas Coll Formatting Table Styles Style Font Alignment Numbe ALG Al Electric C D 29 30 Transactions 31 1) You invested $15,000 in your business on 12/31. The cash is deposited in a bank account that you just 32 opened in a checking account 33 2) Your salary is $48,000 per year paid semi-monthly. Please pay 6.2% social security (you and the company), medicare of 1.5% you and the Company), and 15% Federal income tax. 34 35 3) Your employee is part time and makes $15 per hour paid semi-monthly. Please pay 6.2% social security 36 Lyou and the company), medicare of 1.5% (you and the Company), and 10% Federal income tax 37 4) The tax manuals cost $15 each, audit manuals $18 each, and the HR manuals are $10 Complete a purchase order for 100 of each from Fine Publishing 39 39 51 Pay rent to Leasing Inc for $1,000 using check 101 on 1/1, also paid a $500 deposit 41 426) Pay TurboTax 525 on 1/1 for software costs using check 102 40 Sheet1 Sheet Sheets Type here to search O AI 90 E (L LG 1. D $ 3 4 6 7 8 m R . C Caps Lock A 5 D F G . N X . C B N. En 11 AA EEE General BIU $ -% 98- Conditional Formatas Cell Formatting Table Styles Style Number Alge Font ME Al Electric 2) Your salary is $48,000 per year paid semi-monthly. Please pay 6.2% social security you and the company), medicare of 1.5% (you and the Company), and 15% Federal income tax. 35 3) Your employee is part time and makes $15 per hour paid semi-monthly. Please pay 6.2% social security 36 lyou and the company), medicare of 1.5% (you and the Company), and 10% Federal income tax. 4) The tax manuals cost $15 each, audit manuals $18 each, and the HR manuals are $10. Complete a purchase order for 100 of each from Fine Publishing. 38 5) Pay rent to Leasing Inc for $1,000 using check 101 on 1/1, also paid a $500 deposit. 41 42 6) Pay TurboTax 5250 on 1/1 for software costs using check 102 447) Receive the manuals ordered and enter a bill to be paid with terms net 30. 45 468) You write a check 103 to Best Buy on 1/2 for a computer and printer for $2000. Fixed Asset 48 91 You order paper supplies for $150 on account through Paper Supplies incon 1/3, charge office supplies expense. Sheet1 Sheet2 Sheet - Type here to search qb LG 2 4 Un 6 F 7 * 8 E R T Y A un G H Z C V B N X - AA General $ - %**23 Conditional Formatas Cell Formatting Table Styles Font Algement Number Al Al Electric D 40 51 Pay rent to Leasing Inc for $1,000 using check 101 on 1/1, also paid a $500 deposit 41 126) Pay TurboTax $250 on 1/1 for software costs using check 102 43 7) Receive the manuals ordered and enter a bill to be paid with terms net 30. 46 8) You write a check 103 to Best Buy on 1/2 for a computer and printer for S2000. (Fixed Asset) 45 439 You order paper supplies for $150 on account through Paper Supplies Inc on 1/3, change office supplies expense. 49 50 10 You bought Furniture for $5,000 from Office Depot on 1/3, Office Depot ve YOU 1 year loan at 8% 51 (Increase the Furniture account and set up a Note Payable liability Count for the other side of the entry) 52 53 11) You collected an advance of $7,500 from Helping Hands and deposited the funds on 1/7. Use the receive payment). 54 55 12) Use time sheets to post time: 56 Time training in January of Manuals Sold: 5 Hours for Employee 1: Hours for Employee 2 57 Client Job 58 Tom Brown Tax Sheet1 Sheet2 Sheet Time Sheet date 1/6/2016 Type here to search O GD . LG o $ 2 4 5 6 E 7 B E R T Y Caos Look A s D F G . J N V . N Accounting Cyde Project 2) - Excel AutoSave Review View Help QuickBooks Page Layout Formulas File Home - 11 AA EEE Delete Format Conditional Formatas Cell Formatting Table Styles $ - % 9.29 Poste Number F Al Electric A16 C D Hours for Hours for Employee 1: Employee 2: 5 3 Job Tax Tax Tax Tax of Manuals Sald 5 1 3 1 2 2 8 2 6 4 2 2 8 Time Sheet date: 1/6/2016 1/6/2016 1/6/2016 1/7/2016 1/7/2016 1/7/2016 1/7/2016 1/1/2016 1/8/2016 1/9/2016 1/10/2016 1/13/2016 1/14/2016 1/15/2016 4 | 37 Cient 58 Tom Brown 59 Betty Boss 60 lane Doe 61 lack Short 62 Tim Smith 63 Al Electric 64 Sales calls 65 Down the Drain Plumbing 66 Helping Hands 67 Helping Hands 68 Helping Hands 69 Helping Hands 70 Helping Hands 71 Helping Hands 72 73 74 13) On 1/15 pay payroll TS 8 10 Tax Non bilable Tax Audi Audit Audit Audit Audit Audit 8 8 8 8 8 8 8 4 8 64 52 Shoot! Sheet2 Sheet Type here to search O RI ab LG EX 2 3 5 6 7 B E R . Y A in F G H o N C V B N. M Draw Formulas Insert Page Layout File Home ing G X Conditional Formatas Cell Formatting Table Styles For $ % 948-23 BTU co Number Aliment Al Electric A16 G 8 8 8 8 8 D 1/9/2016 1/10/2016 1/13/2016 1/14/2016 1/15/2016 Audit Audit Audit Audit Audit 57 Helping Hands 68 Helping Hands 69 Helping Hands 70 Helping Hands 71 Helping Hands 72 8 4 8 64 52 74 13) On 1/15 paypayroll 75 76 14) Invoice Tom Brown, Jane Doe, and Jack Short as of 1/20 for time and manual 77 Service is nontaxable but the manuals should be taxed at 8.25% tax Sales Tax payable to Texas Comptroller TB 19 15) Receive utility bill as of 1/23 for January and set up as a bill for $117.58 payable to Texas Utilities 31 16) Collect and deposit on 1/23 an advance payment for a new client lones & Sons for 55.000 BO 8317) Collect funds from Tom Brown on 1/25 and deposit in the Bank. 85 18) Post time for 1/16 to 1/31 as follows of Manuals Hours for Hours for Sheet1 Sheet2 Sheets 0 Type here to search o CD ILG D $ 4 m. S 6 E 7 8 W C E R T T Caps Lock A 5 D G H N Z . V B N Home General Delete Format X $% Conditional Formatas C Formatting Table Styles Ste Nube Aliment Al Electric F A16 D C Hours for Employee 1 # of Manuals Sold: 10 Hours for Employee 2: 8 Aude 8 8 8 8 1 8 7 10 8 4 8 56 Client Job 87 EZ Products BEZ Products Audit 99 EZ Products Audit 90 EZ Products Audit 91 Administrative Nonbillable 92 Down the Drain Plumbling Payroll 93 Down the Drain Plumbing Payroll 94 Down the Drain Plumbling Payroll 95 Administrative Non-billable 96 Helping Hands Payroll 97 Helping Hands Payroll 98 Administrative Non bilable 99 EZ Products Payroll 100 EZ Products Payroll 101 Administrative Non-bilable 102 Administrative Non bilable 100 104 Total hours Sheet Sheet2 Sheet Time Sheet date: 1/16/2016 1/17/2016 1/20/2016 1/21/2016 1/21/2016 1/22/2016 1/23/2016 1/24/2016 1/24/2016 1/27/2016 1/28/2016 1/28/2016 1/29/2016 1/30/2016 1/30/2016 1/31/2015 5 8 7 8 96 48 o Type here to search LG 3 % S E 7 4 6 8 Q w E R . Y Caps Lock A S D F G H . 1 Z X B N N Fle Home Delet Form X -11 A E $ - % 9.22 Conditional Formatas Formatting Table Styles Number Alig Al Electric AL D 106 107 100 29) As of 1/31 send bills to remaining clients (Invoice): apply any advances. 109 110 20 Prepay office insurance for 1 year on 1/31 to State Farm for $1,200. 111 112 21) Pay 1/31 payroll 113 114 22) Collect and deposit payments received from Jack Short and lane Doe as of 1/31. 11623) Pay paper supplies as of 1/31 with the next check. 11824) Make month and adjusting entries 119 Record depreciation on office equipment and furniture using S method over 10 years 120 Redavily any uneared revenue 121 Record interest expense on the furniture loan 122 Accre telephone bill for $119 123 124 19) Export reports into Excel January income Statement Balance Sheet at lanuary 31 126 General Ledger for anuary Sheet Sheet2 Sheet3 o FI Type here to search LG 2 3 4 S S 7 B w E R . Y COLOCA A s F G . Z C V B N G styles Number Al Al Electric H D Let's create a business that is a sole proprietor business called "Your Name" Training Services. For the business address, please use: 3939 Valley View Lane, Farmers Branch, TX 75244. The cash was invested 12/2015 and business began lanuary, 2016, Create ? employees. Yourself and one parttime hourly employee. (Do not input real social security numbers. Please choose anything you want for martial status, exemptions, but let's make them reside in TX.) of this function is not available in your version of QuickBooks, don't worry. You will create customers, vendors, and employees. Topay employees we will need to use a journal entry to create manual payroll. There are 3 training courses: Tax training is billed at $125/hour plus $35 per manual Audit training is billed at $150/hour plus $30 per manual. Payroll training is billed at $100/hour plus $25 per manual. Three sevice items and inventory items (manuals). You may need to go to the edit menu, preferences, items, and activate the inventory. 10 13 12 13 44 Customers Vendors 15 Allectie 17 Betty Boss 18 Down the Drain Plumbing 19 Al Electric 20 E2 Products 21 Helping Hands Office Depot Paper Supplies, Inc Best Buy Turbo Tax Fine Publishing Texas Utilities Type here to search O li 11:18 10/6/26 General BIU. $ -% -88 Conditional Formatas Coll Formatting Table Styles Style Font Alignment Numbe ALG Al Electric C D 29 30 Transactions 31 1) You invested $15,000 in your business on 12/31. The cash is deposited in a bank account that you just 32 opened in a checking account 33 2) Your salary is $48,000 per year paid semi-monthly. Please pay 6.2% social security (you and the company), medicare of 1.5% you and the Company), and 15% Federal income tax. 34 35 3) Your employee is part time and makes $15 per hour paid semi-monthly. Please pay 6.2% social security 36 Lyou and the company), medicare of 1.5% (you and the Company), and 10% Federal income tax 37 4) The tax manuals cost $15 each, audit manuals $18 each, and the HR manuals are $10 Complete a purchase order for 100 of each from Fine Publishing 39 39 51 Pay rent to Leasing Inc for $1,000 using check 101 on 1/1, also paid a $500 deposit 41 426) Pay TurboTax 525 on 1/1 for software costs using check 102 40 Sheet1 Sheet Sheets Type here to search O AI 90 E (L LG 1. D $ 3 4 6 7 8 m R . C Caps Lock A 5 D F G . N X . C B N. En 11 AA EEE General BIU $ -% 98- Conditional Formatas Cell Formatting Table Styles Style Number Alge Font ME Al Electric 2) Your salary is $48,000 per year paid semi-monthly. Please pay 6.2% social security you and the company), medicare of 1.5% (you and the Company), and 15% Federal income tax. 35 3) Your employee is part time and makes $15 per hour paid semi-monthly. Please pay 6.2% social security 36 lyou and the company), medicare of 1.5% (you and the Company), and 10% Federal income tax. 4) The tax manuals cost $15 each, audit manuals $18 each, and the HR manuals are $10. Complete a purchase order for 100 of each from Fine Publishing. 38 5) Pay rent to Leasing Inc for $1,000 using check 101 on 1/1, also paid a $500 deposit. 41 42 6) Pay TurboTax 5250 on 1/1 for software costs using check 102 447) Receive the manuals ordered and enter a bill to be paid with terms net 30. 45 468) You write a check 103 to Best Buy on 1/2 for a computer and printer for $2000. Fixed Asset 48 91 You order paper supplies for $150 on account through Paper Supplies incon 1/3, charge office supplies expense. Sheet1 Sheet2 Sheet - Type here to search qb LG 2 4 Un 6 F 7 * 8 E R T Y A un G H Z C V B N X - AA General $ - %**23 Conditional Formatas Cell Formatting Table Styles Font Algement Number Al Al Electric D 40 51 Pay rent to Leasing Inc for $1,000 using check 101 on 1/1, also paid a $500 deposit 41 126) Pay TurboTax $250 on 1/1 for software costs using check 102 43 7) Receive the manuals ordered and enter a bill to be paid with terms net 30. 46 8) You write a check 103 to Best Buy on 1/2 for a computer and printer for S2000. (Fixed Asset) 45 439 You order paper supplies for $150 on account through Paper Supplies Inc on 1/3, change office supplies expense. 49 50 10 You bought Furniture for $5,000 from Office Depot on 1/3, Office Depot ve YOU 1 year loan at 8% 51 (Increase the Furniture account and set up a Note Payable liability Count for the other side of the entry) 52 53 11) You collected an advance of $7,500 from Helping Hands and deposited the funds on 1/7. Use the receive payment). 54 55 12) Use time sheets to post time: 56 Time training in January of Manuals Sold: 5 Hours for Employee 1: Hours for Employee 2 57 Client Job 58 Tom Brown Tax Sheet1 Sheet2 Sheet Time Sheet date 1/6/2016 Type here to search O GD . LG o $ 2 4 5 6 E 7 B E R T Y Caos Look A s D F G . J N V . N Accounting Cyde Project 2) - Excel AutoSave Review View Help QuickBooks Page Layout Formulas File Home - 11 AA EEE Delete Format Conditional Formatas Cell Formatting Table Styles $ - % 9.29 Poste Number F Al Electric A16 C D Hours for Hours for Employee 1: Employee 2: 5 3 Job Tax Tax Tax Tax of Manuals Sald 5 1 3 1 2 2 8 2 6 4 2 2 8 Time Sheet date: 1/6/2016 1/6/2016 1/6/2016 1/7/2016 1/7/2016 1/7/2016 1/7/2016 1/1/2016 1/8/2016 1/9/2016 1/10/2016 1/13/2016 1/14/2016 1/15/2016 4 | 37 Cient 58 Tom Brown 59 Betty Boss 60 lane Doe 61 lack Short 62 Tim Smith 63 Al Electric 64 Sales calls 65 Down the Drain Plumbing 66 Helping Hands 67 Helping Hands 68 Helping Hands 69 Helping Hands 70 Helping Hands 71 Helping Hands 72 73 74 13) On 1/15 pay payroll TS 8 10 Tax Non bilable Tax Audi Audit Audit Audit Audit Audit 8 8 8 8 8 8 8 4 8 64 52 Shoot! Sheet2 Sheet Type here to search O RI ab LG EX 2 3 5 6 7 B E R . Y A in F G H o N C V B N. M Draw Formulas Insert Page Layout File Home ing G X Conditional Formatas Cell Formatting Table Styles For $ % 948-23 BTU co Number Aliment Al Electric A16 G 8 8 8 8 8 D 1/9/2016 1/10/2016 1/13/2016 1/14/2016 1/15/2016 Audit Audit Audit Audit Audit 57 Helping Hands 68 Helping Hands 69 Helping Hands 70 Helping Hands 71 Helping Hands 72 8 4 8 64 52 74 13) On 1/15 paypayroll 75 76 14) Invoice Tom Brown, Jane Doe, and Jack Short as of 1/20 for time and manual 77 Service is nontaxable but the manuals should be taxed at 8.25% tax Sales Tax payable to Texas Comptroller TB 19 15) Receive utility bill as of 1/23 for January and set up as a bill for $117.58 payable to Texas Utilities 31 16) Collect and deposit on 1/23 an advance payment for a new client lones & Sons for 55.000 BO 8317) Collect funds from Tom Brown on 1/25 and deposit in the Bank. 85 18) Post time for 1/16 to 1/31 as follows of Manuals Hours for Hours for Sheet1 Sheet2 Sheets 0 Type here to search o CD ILG D $ 4 m. S 6 E 7 8 W C E R T T Caps Lock A 5 D G H N Z . V B N Home General Delete Format X $% Conditional Formatas C Formatting Table Styles Ste Nube Aliment Al Electric F A16 D C Hours for Employee 1 # of Manuals Sold: 10 Hours for Employee 2: 8 Aude 8 8 8 8 1 8 7 10 8 4 8 56 Client Job 87 EZ Products BEZ Products Audit 99 EZ Products Audit 90 EZ Products Audit 91 Administrative Nonbillable 92 Down the Drain Plumbling Payroll 93 Down the Drain Plumbing Payroll 94 Down the Drain Plumbling Payroll 95 Administrative Non-billable 96 Helping Hands Payroll 97 Helping Hands Payroll 98 Administrative Non bilable 99 EZ Products Payroll 100 EZ Products Payroll 101 Administrative Non-bilable 102 Administrative Non bilable 100 104 Total hours Sheet Sheet2 Sheet Time Sheet date: 1/16/2016 1/17/2016 1/20/2016 1/21/2016 1/21/2016 1/22/2016 1/23/2016 1/24/2016 1/24/2016 1/27/2016 1/28/2016 1/28/2016 1/29/2016 1/30/2016 1/30/2016 1/31/2015 5 8 7 8 96 48 o Type here to search LG 3 % S E 7 4 6 8 Q w E R . Y Caps Lock A S D F G H . 1 Z X B N N Fle Home Delet Form X -11 A E $ - % 9.22 Conditional Formatas Formatting Table Styles Number Alig Al Electric AL D 106 107 100 29) As of 1/31 send bills to remaining clients (Invoice): apply any advances. 109 110 20 Prepay office insurance for 1 year on 1/31 to State Farm for $1,200. 111 112 21) Pay 1/31 payroll 113 114 22) Collect and deposit payments received from Jack Short and lane Doe as of 1/31. 11623) Pay paper supplies as of 1/31 with the next check. 11824) Make month and adjusting entries 119 Record depreciation on office equipment and furniture using S method over 10 years 120 Redavily any uneared revenue 121 Record interest expense on the furniture loan 122 Accre telephone bill for $119 123 124 19) Export reports into Excel January income Statement Balance Sheet at lanuary 31 126 General Ledger for anuary Sheet Sheet2 Sheet3 o FI Type here to search LG 2 3 4 S S 7 B w E R . Y COLOCA A s F G . Z C V B N
