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Jacki O is a graphic designer and you are the production manager for the small firm. Jacki O is out on maternity leave and Mavis
Jacki O is a graphic designer and you are the production manager for the small firm. Jacki O is out on maternity leave and Mavis the bookkeeper
fell and broke her hip. You are in charge of the office for the next weeks, this includes taking care of the books. The office consists of Jacki O the owner,
Mavis the bookkeeper part time Jorge your part time production assistant and you full time
You are to complete the bookkeeping for the month. You will first journal the following transactions on the Pt Journal entries tab. There are several
transactions where you will need to make a judgement call. This course is Accounting for Managers, so you will have to manage the finances of the
office for the month and make a decision.
Helpful Notes
You are interviewing for a parttime graphic artist at $ per hour as the work is picking up
The Notes payable is a loan, all interest and principle due
Detail for Visa Bill:
Gas Receipts for Van
Flowers for Client baby
Training for Jenny B
Lunch for staff
ink for the printer
Total
Jacki Os Graphic Design Studio
Balance Sheet
Assets Liabilities
Cash Accounts Payable
Petty Cash Note Payable
Accounts Receivable Interest Payable
Prepaid Insurance Unearned Income
Supplies Taxes Payable
Graphic Equipment Total Liabilities
Office Equipment
Delivery Van Equity
Total Assets Total Liabilities and Owners equity
Sub Ledgers
Accounts Receivable Accounts Payable
Accounts Receivable Sub Ledger Accounts Payable Sub ledger
Due
Circus Flora Acme Ink Nov
Happy Hippos Blicks Mar
Giggles in Gear Shafer Feb
Ref #
Mar Paid rent of $
Mar You find a great candidate for the graphic design position who wants to work part time. You hire Jesse who will start on Monday working hours a week at $ a hour.
Mar Purchased new printer $ on account at Blicks on account.
Mar Paid invoice to Shafer Graphics of $
Mar Completed Logo for Monster Donuts, billed client $
Mar Purchased ad in Fitchburg Times Magazine for $
Mar Online order received from Pawfect Pastries for $paid at time of order, shipped same day
Mar Received Check from Circus Flora for T Shirt printing delivered last week $
Mar The large format printer broke down. The repair man can come today for a $ expedite fee. Service call will be $ or they can come in three weeks to avoid the expedite fee. You have print jobs in the queue for this week.
Mar Acme ink called about a past due bill for $ Acme will take $ if you pay today. If not paid in full, you must pay something. This is past due over a dispute that has recently been resolved. If you decided to settle, put the difference to the Over and Short account.
Mar The Banditos called and asked for a last minute meeting was originally scheduled for to review new branding for the motorcycle gang. Fortunatley the new assistant completed the work yesterday. The Banditos paid in full after the meeting $
Mar Paid Visa Bill
Mar Paid Electric and Gas bill $
Mar Paid Adobe Suite subscription for the year $ Subscription renews April
Mar Paid wages to staff of $
Mar Took retainer of $ for Fender Air Guitars for rebranding use unearned income
Mar Received Check from Circus Flora for $
Mar Jackie O took a draw of $
Mar Recorded interest due on loan for the month
Mar Used supplies for the month $
Mar Expensed expired insurance for March, policy renews April
Mar Completed job for the Kiwi Kollective, sent final files and invoiced for $
Mar Accrued income taxes for the month of sales
Mar Paid wages to staff of $
Part The Posting Process
Graphic Equipment
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