MEMORANDUM MEMO\#116 TO: Bill Bugnay December 1, 20XX FROM: Arif Chowdhury A cheque was written to Hart Property Management for December totaling \$12180 for the monthly oftice lease including the occupancy costs and the GST. (CHQ 2114) Record the expenses as Occupancy Costs and Separate out the GST. Thanks The purpose of this exercise is to prepare our students with real life examples testing your manual bookkeeping skills, using your software application knowledge. All work performed is on account (unless stated otherwise) and GST of 5% is charged(wherever applicable). All input Tax Credits and all amounts charged are to be recoded in GST Payable. Remember GST is NOT recoverable for personal expenses paid by the company and is NOT recoverable on golfing and is only 50% recoverable for meals and entertainment. All billings sent to use are subject to GST and all supplier invoices are to be paid on our instruction. If we have written a cheque or one should be sent we will inform you accordingly. All costs of printed course material are to be expensed if it is for a customized course as we rarely have a second use for customized material. Recorded as inventory at the time of purchase are instructional booklets, as we can return these materials or use them again. Inventory is not adjusted until year end. All staff is on contract and each has a GST number. We pay them and ourselves $400/ day plus mileage at $0.50/km beginning this month as they all travel to their teaching sites. We summarize their invoices for you on a spread sheet at the end of every month for immediate payment. All instructors' costs including when owners teach a class are included in Subcontract Expense and Travel Costs Expense. There are only 4 paid staff on salary. They are the owners (Arif Chowdhury \& M. Lasker), our logistic coordinator, (Zul Ismail) and you (Bill Bugnay), our Bookkeeper. The Owners are paid Teaching Salaries for the work done teaching (CPP is not separated for this portion) and a fixed extra amount over and above the teaching for administration. Therefore, the coordinator, bookkeeper and the owners (administration portion only) are recorded as Wages \& Benefits. Owners are not subject to EI. Manual Bookkeeping Course Prepare manual entries and complete the general and subsidiary ledgers. Prepare an account receivable and account payable reconciliation of the subsidiary ledger accounts to the control account. Compare it to the Trial Balance provided Make all required adjusting entries for the D3ecember 31, 20XX Year End Prepare financial statements at December 31 . 1. Record all the transactions previously done manually into 2. Sage 50 and QuickBooks and create and print the identical financial statements, aged accounts receivable and accounts payable reports. Ensure they match the Manual Component results. General Journal: Record all required documents in this journal purposes. Ledgers: An Accounts Receivable and the Accounts Payable Subsidiary Ledgers and the General Ledger have opening balanees. Where applicable for the tax module additional information is shown in the description's column along with additional and more detailed entries. Information Pages: This page provides additional instructions to help you complete the practicum. Record the transactions on the dates you are instructed. EAST WEST COLILEGE Account Title Acc. No:- Revenue Customized Training 4100 General Training 4200 Costs of Goods Sold Course Materials -Purchased Inter materials-Printing Cost Subcontract Travel Costs 5010 5020 5100 5150 Variable Expenses Advertising and promotion Amortization Bad Debts Bank Charges and Interest Donations Insurance Interest on L/T Debt Meals and Entertainment 0% deductible Meals and Entertainment 50% Deductible Meals and Entertainment 100\% Deductible Memberships Miscellaneous Occupancy Costs Professional Fees Repairs \& Maintenance Wage \& Benefits-Salaries Wage \& Benefits-CPP Expenses Wage \& Benefits-EI Expenses Wage \& Benefits-Holiday Pay Expenses 5200 5230 5260 5290 5320 5330 5340 5360 5370 5380 5450 5480 5540 5580 5610 5640 5650 5660 5670 Non-Operating Income \& Expenses Interest Income Gain/Loss on Disposal Income Taxes Expenses 5900 5920 5990 ACCOUNTS PAYABLE SUBSIDIARY LEDGER Account Name Oncolytics Biotech D2C Corporation High Arctic Limited HR Accountant Ltd. Enbridge Inc. Mercer Inc. MEMORANDIM MEMORANDUM TO: Bill Bugnay MEMO \#112 From: Arif Chowdhury December 1,20XX Please issue me cheque to M. Lasker to cover his Spring Break Holidays airfare. The amount of $1680 is broken down as follows airfare is \$1680 (5\% GST included) (CHQ 2111) Please issue a cheque to Bath and Body Inc. for the new hot tube installed in my backyard on the weekend. The invoice for $2,835 includes the GST. (CHQ 2112) Thanks Dee MEMORANDUM MEMOH115 To: Bill Bugnay December 1, 20XX FROM: Arif Chowdhury Please deposit the $50000 cheque into our bank account for the sale of our investment recording it as a gain/loss on disposal that the accountant said they will adjust at year end. (D/S\#01-12) The purpose of this exercise is to prepare our students with real life examples testing your manual bookkeeping skills, using your software application knowledge. All work performed is on account (unless stated otherwise) and GST of 5% is charged(wherever applicable). All input Tax Credits and all amounts charged are to be recoded in GST Payable. Remember GST is NOT recoverable for personal expenses paid by the company and is NOT recoverable on golfing and is only 50% recoverable for meals and entertainment. All billings sent to use are subject to GST and all supplier invoices are to be paid on our instruction. If we have written a cheque or one should be sent we will inform you accordingly. All costs of printed course material are to be expensed if it is for a customized course as we rarely have a second use for customized material. Recorded as inventory at the time of purchase are instructional booklets, as we can return these materials or use them again. Inventory is not adjusted until year end. All staff is on contract and each has a GST number. We pay them and ourselves $400/ day plus mileage at $0.50/km beginning this month as they all travel to their teaching sites. We summarize their invoices for you on a spread sheet at the end of every month for immediate payment. All instructors' costs including when owners teach a class are included in Subcontract Expense and Travel Costs Expense. There are only 4 paid staff on salary. They are the owners (Arif Chowdhury \& M. Lasker), our logistic coordinator, (Zul Ismail) and you (Bill Bugnay), our Bookkeeper. The Owners are paid Teaching Salaries for the work done teaching (CPP is not separated for this portion) and a fixed extra amount over and above the teaching for administration. Therefore, the coordinator, bookkeeper and the owners (administration portion only) are recorded as Wages \& Benefits. Owners are not subject to EI. Accounting software Courses 1. Record all the transactions previously done manually into 2. Sage 50 and QuickBooks and create and print the identical financial statements, aged accounts receivable and accounts payable reports. Ensure they match the Manual Component results. General Journal: Record all required documents in this journal purposes. Ledgers: An Accounts Receivable and the Accounts Payable Subsidiary Ledgers and the General Ledger have opening balances. Where applicable for the tax module additional information is shown in the description's column along with additional and more detailed entries. Information Pages: This page provides additional instructions to help you complete the practicum. Record the transactions on the dates you are instructed. Account Title Acc. No:- Revenue Customized Training General Training 4100 4200 Costs of Goods Sold Course Materials -Purchased Inter materials-Printing Cost Subcontract Travel Costs 5010 5020 5100 5150 Variable Expenses Advertising and promotion Amortization Bad Debts Bank Charges and Interest Donations Insurance Interest on L/T Debt Meals and Entertainment 0% deductible Meals and Entertainment 50% Deductible Meals and Entertainment 100\% Deductible Memberships Miscellaneous Occupancy Costs Professional Fees Repairs \& Maintenance Wage \& Benefits-Salaries Wage \& Benefits-CPP Expenses Wage \& Benefits-EI Expenses Wage \& Benefits-Holiday Pay Expenses 5200 5230 5260 5290 5320 5330 5340 5360 5370 5380 5450 5480 5540 5580 5610 5640 5650 5660 5670 Non-Operating Income & Expenses Interest lncome Gain/Loss on Disposal Income Taxes Expenses 5900 5920 5990 MEMORANDUM MEMO\#116 TO: Bill Bugnay December 1, 20XX FROM: Arif Chowdhury A cheque was written to Hart Property Management for December totaling \$12180 for the monthly oftice lease including the occupancy costs and the GST. (CHQ 2114) Record the expenses as Occupancy Costs and Separate out the GST. Thanks The purpose of this exercise is to prepare our students with real life examples testing your manual bookkeeping skills, using your software application knowledge. All work performed is on account (unless stated otherwise) and GST of 5% is charged(wherever applicable). All input Tax Credits and all amounts charged are to be recoded in GST Payable. Remember GST is NOT recoverable for personal expenses paid by the company and is NOT recoverable on golfing and is only 50% recoverable for meals and entertainment. All billings sent to use are subject to GST and all supplier invoices are to be paid on our instruction. If we have written a cheque or one should be sent we will inform you accordingly. All costs of printed course material are to be expensed if it is for a customized course as we rarely have a second use for customized material. Recorded as inventory at the time of purchase are instructional booklets, as we can return these materials or use them again. Inventory is not adjusted until year end. All staff is on contract and each has a GST number. We pay them and ourselves $400/ day plus mileage at $0.50/km beginning this month as they all travel to their teaching sites. We summarize their invoices for you on a spread sheet at the end of every month for immediate payment. All instructors' costs including when owners teach a class are included in Subcontract Expense and Travel Costs Expense. There are only 4 paid staff on salary. They are the owners (Arif Chowdhury \& M. Lasker), our logistic coordinator, (Zul Ismail) and you (Bill Bugnay), our Bookkeeper. The Owners are paid Teaching Salaries for the work done teaching (CPP is not separated for this portion) and a fixed extra amount over and above the teaching for administration. Therefore, the coordinator, bookkeeper and the owners (administration portion only) are recorded as Wages \& Benefits. Owners are not subject to EI. Manual Bookkeeping Course Prepare manual entries and complete the general and subsidiary ledgers. Prepare an account receivable and account payable reconciliation of the subsidiary ledger accounts to the control account. Compare it to the Trial Balance provided Make all required adjusting entries for the D3ecember 31, 20XX Year End Prepare financial statements at December 31 . 1. Record all the transactions previously done manually into 2. Sage 50 and QuickBooks and create and print the identical financial statements, aged accounts receivable and accounts payable reports. Ensure they match the Manual Component results. General Journal: Record all required documents in this journal purposes. Ledgers: An Accounts Receivable and the Accounts Payable Subsidiary Ledgers and the General Ledger have opening balanees. Where applicable for the tax module additional information is shown in the description's column along with additional and more detailed entries. Information Pages: This page provides additional instructions to help you complete the practicum. Record the transactions on the dates you are instructed. EAST WEST COLILEGE Account Title Acc. No:- Revenue Customized Training 4100 General Training 4200 Costs of Goods Sold Course Materials -Purchased Inter materials-Printing Cost Subcontract Travel Costs 5010 5020 5100 5150 Variable Expenses Advertising and promotion Amortization Bad Debts Bank Charges and Interest Donations Insurance Interest on L/T Debt Meals and Entertainment 0% deductible Meals and Entertainment 50% Deductible Meals and Entertainment 100\% Deductible Memberships Miscellaneous Occupancy Costs Professional Fees Repairs \& Maintenance Wage \& Benefits-Salaries Wage \& Benefits-CPP Expenses Wage \& Benefits-EI Expenses Wage \& Benefits-Holiday Pay Expenses 5200 5230 5260 5290 5320 5330 5340 5360 5370 5380 5450 5480 5540 5580 5610 5640 5650 5660 5670 Non-Operating Income \& Expenses Interest Income Gain/Loss on Disposal Income Taxes Expenses 5900 5920 5990 ACCOUNTS PAYABLE SUBSIDIARY LEDGER Account Name Oncolytics Biotech D2C Corporation High Arctic Limited HR Accountant Ltd. Enbridge Inc. Mercer Inc. MEMORANDIM MEMORANDUM TO: Bill Bugnay MEMO \#112 From: Arif Chowdhury December 1,20XX Please issue me cheque to M. Lasker to cover his Spring Break Holidays airfare. The amount of $1680 is broken down as follows airfare is \$1680 (5\% GST included) (CHQ 2111) Please issue a cheque to Bath and Body Inc. for the new hot tube installed in my backyard on the weekend. The invoice for $2,835 includes the GST. (CHQ 2112) Thanks Dee MEMORANDUM MEMOH115 To: Bill Bugnay December 1, 20XX FROM: Arif Chowdhury Please deposit the $50000 cheque into our bank account for the sale of our investment recording it as a gain/loss on disposal that the accountant said they will adjust at year end. (D/S\#01-12) The purpose of this exercise is to prepare our students with real life examples testing your manual bookkeeping skills, using your software application knowledge. All work performed is on account (unless stated otherwise) and GST of 5% is charged(wherever applicable). All input Tax Credits and all amounts charged are to be recoded in GST Payable. Remember GST is NOT recoverable for personal expenses paid by the company and is NOT recoverable on golfing and is only 50% recoverable for meals and entertainment. All billings sent to use are subject to GST and all supplier invoices are to be paid on our instruction. If we have written a cheque or one should be sent we will inform you accordingly. All costs of printed course material are to be expensed if it is for a customized course as we rarely have a second use for customized material. Recorded as inventory at the time of purchase are instructional booklets, as we can return these materials or use them again. Inventory is not adjusted until year end. All staff is on contract and each has a GST number. We pay them and ourselves $400/ day plus mileage at $0.50/km beginning this month as they all travel to their teaching sites. We summarize their invoices for you on a spread sheet at the end of every month for immediate payment. All instructors' costs including when owners teach a class are included in Subcontract Expense and Travel Costs Expense. There are only 4 paid staff on salary. They are the owners (Arif Chowdhury \& M. Lasker), our logistic coordinator, (Zul Ismail) and you (Bill Bugnay), our Bookkeeper. The Owners are paid Teaching Salaries for the work done teaching (CPP is not separated for this portion) and a fixed extra amount over and above the teaching for administration. Therefore, the coordinator, bookkeeper and the owners (administration portion only) are recorded as Wages \& Benefits. Owners are not subject to EI. Accounting software Courses 1. Record all the transactions previously done manually into 2. Sage 50 and QuickBooks and create and print the identical financial statements, aged accounts receivable and accounts payable reports. Ensure they match the Manual Component results. General Journal: Record all required documents in this journal purposes. Ledgers: An Accounts Receivable and the Accounts Payable Subsidiary Ledgers and the General Ledger have opening balances. Where applicable for the tax module additional information is shown in the description's column along with additional and more detailed entries. Information Pages: This page provides additional instructions to help you complete the practicum. Record the transactions on the dates you are instructed. Account Title Acc. No:- Revenue Customized Training General Training 4100 4200 Costs of Goods Sold Course Materials -Purchased Inter materials-Printing Cost Subcontract Travel Costs 5010 5020 5100 5150 Variable Expenses Advertising and promotion Amortization Bad Debts Bank Charges and Interest Donations Insurance Interest on L/T Debt Meals and Entertainment 0% deductible Meals and Entertainment 50% Deductible Meals and Entertainment 100\% Deductible Memberships Miscellaneous Occupancy Costs Professional Fees Repairs \& Maintenance Wage \& Benefits-Salaries Wage \& Benefits-CPP Expenses Wage \& Benefits-EI Expenses Wage \& Benefits-Holiday Pay Expenses 5200 5230 5260 5290 5320 5330 5340 5360 5370 5380 5450 5480 5540 5580 5610 5640 5650 5660 5670 Non-Operating Income & Expenses Interest lncome Gain/Loss on Disposal Income Taxes Expenses 5900 5920 5990
