QuickBooks Accountant 2015 for Accounting (14th Edition)

Complete chapter 7 assignment 2 (Central Coast Cellular)

Using QuickBooks Accountant 2015 for Accounting (14th Edition) Show all steps Chapter 7, Problem 2A Bookmark OFF Post a question Answers from our experts homework questions Problem Enter question ADDING MORE INFORMATION: CENTRAL COAST CELLULAR Restore the file Central Coast Cellular Ch 7 (Backup) that you downloaded from the text web site, and then add the following transactions. (Hint: You may want to disable the warning about transaction dates being greater than 90 days from the current system date, this is done in the Accounting Preferences section.) Continue 2 questions My Textbook Sol sole proprietorship Solutions Solutie by Chegg by Che merchandisin Usin Usin Quic Quic 14th Edition View all solutions Event # Date Business Event 14th Editic 1 1/3/14 Mr. Van Morrison deposited $200,000 of his personal funds into the company checking account. (Remember, this is a sole proprietorship.) Use the Opening Balance Equity account to record this transaction. 2 1/3/14 Signed a lease with Central Coast Leasing (2830 McMillan Ave. #7, San Accounting Ch who can help Luis Obispo, CA 93401, 805-544-2875) to rent retail space at $3,000 a month for five years. Payment is due on the 13th of the month. 3 1/6/14 The company temporarily invested S75,000 by writing Check No. 3001 to Schwab Investments (a new vendor located at 1194 Pacific St. San Luis Obispo, CA 93401, 805-788-0502). (Hint: You will need to create an other bank type account named Short-Term Investments.) Sand IIT Bomb 4 1/7/14 The company borrowed and then deposited $125,000 from Wells Vaibh Rosary S Fargo Bank (a new vendor located at 665 Marsh St., San Luis Obispo, CA 93401, 805-541-0143), due in five years with annual interest of 8% and payments made monthly. (Hint: You will need to create a long-term liability account named Loan Payable.) ESCP Eu 5 1/8/14 e company purchased furniture & equipment by writing Check No. 3002 for $20,000 to Russco (a new vendor located at 3046 S Higuera St. #A, San Luis Obispo, CA 93401, 805-547-8440). Find me 6 1/9/14 e company ordered inventory from the following vendors: Vendor Ericsson, Inc. Nokia Mobile Purchase Order # Product Quantity 40 60 25 50 15 101 Ericsson LX588 Ericsson T19LX Nokia 328.5 Nokia 8290 Nokia 8890 102 Phones Event # Date Business Event 7 1/10/14 The company purchased supplies from Russco for $3,000 using Check No. 3003. These supplies are expected to last over the next year. Hint: You will need to create a new other current asset type account named Supplies.) 8 1/13/14 he company wrote Check No. 3004 to Central Coast Leasing for 6,000 (S3,000 for January's rent and $3,000 as a security deposit). (Hint: You will need to create a new other asset type account named Security Deposit.) 9 1/14/14 The company received and deposited an advance payment of $10,000 from the City of San Luis Obispo (a customer) as part of a consulting contract to begin in February 10 1/15/14 The company received a shipment of phones from Ericsson, Inc., on Purchase Order No. 101. Items were received and a bill was recorded that is due in 30 days 11 1/16/14 The company created Sales Receipt No. 501 to record 50 hours of consulting services and the sale of 25 Ericsson LX588 phones to Sterling Hotels Corporation. A check was received and deposited for 7,425 12 1/17/14 The company paid semi-monthly payrollstarting with Check No.3005 for the period January 1 to January 15, 2014. Jay Bruner and Alex Rodriguez worked the month on salary. Megan Paulson worked 80 hours during the period. Payroll tax information is shown in Table 7.3 Table Eningithholing Alex Jay Megan 960.0 -144.0 7.3 em 1,500.00 -225.00 93.00 21.75 -75.00 7.50 1.50 93.00 21.75 4.80 18.00 1,077.75 2,000.00 -300.00 -124.00 29.00 -100.00 10.00 2.00 124.00 29.00 640 24.00 1,437.00 Payroll Information for Central Earnings Federal Withholding Coast Cellular Social Security Employee Medicare Employee CA Withholding CA Disability Employee CA Employee Training Tax Social Security Company Medicare Company Federal Unemployment CA Unemployment Check Amount 59.52 -13.92 -48.00 -4.8 0.9 59.52 13.92 3.07 11.52 689.7 Print the following as of 1/17/14 a. Profit & Loss Standard b. Balance Sheet Standard C. Transaction List by Date Using QuickBooks Accountant 2015 for Accounting (14th Edition) Show all steps Chapter 7, Problem 2A Bookmark OFF Post a question Answers from our experts homework questions Problem Enter question ADDING MORE INFORMATION: CENTRAL COAST CELLULAR Restore the file Central Coast Cellular Ch 7 (Backup) that you downloaded from the text web site, and then add the following transactions. (Hint: You may want to disable the warning about transaction dates being greater than 90 days from the current system date, this is done in the Accounting Preferences section.) Continue 2 questions My Textbook Sol sole proprietorship Solutions Solutie by Chegg by Che merchandisin Usin Usin Quic Quic 14th Edition View all solutions Event # Date Business Event 14th Editic 1 1/3/14 Mr. Van Morrison deposited $200,000 of his personal funds into the company checking account. (Remember, this is a sole proprietorship.) Use the Opening Balance Equity account to record this transaction. 2 1/3/14 Signed a lease with Central Coast Leasing (2830 McMillan Ave. #7, San Accounting Ch who can help Luis Obispo, CA 93401, 805-544-2875) to rent retail space at $3,000 a month for five years. Payment is due on the 13th of the month. 3 1/6/14 The company temporarily invested S75,000 by writing Check No. 3001 to Schwab Investments (a new vendor located at 1194 Pacific St. San Luis Obispo, CA 93401, 805-788-0502). (Hint: You will need to create an other bank type account named Short-Term Investments.) Sand IIT Bomb 4 1/7/14 The company borrowed and then deposited $125,000 from Wells Vaibh Rosary S Fargo Bank (a new vendor located at 665 Marsh St., San Luis Obispo, CA 93401, 805-541-0143), due in five years with annual interest of 8% and payments made monthly. (Hint: You will need to create a long-term liability account named Loan Payable.) ESCP Eu 5 1/8/14 e company purchased furniture & equipment by writing Check No. 3002 for $20,000 to Russco (a new vendor located at 3046 S Higuera St. #A, San Luis Obispo, CA 93401, 805-547-8440). Find me 6 1/9/14 e company ordered inventory from the following vendors: Vendor Ericsson, Inc. Nokia Mobile Purchase Order # Product Quantity 40 60 25 50 15 101 Ericsson LX588 Ericsson T19LX Nokia 328.5 Nokia 8290 Nokia 8890 102 Phones Event # Date Business Event 7 1/10/14 The company purchased supplies from Russco for $3,000 using Check No. 3003. These supplies are expected to last over the next year. Hint: You will need to create a new other current asset type account named Supplies.) 8 1/13/14 he company wrote Check No. 3004 to Central Coast Leasing for 6,000 (S3,000 for January's rent and $3,000 as a security deposit). (Hint: You will need to create a new other asset type account named Security Deposit.) 9 1/14/14 The company received and deposited an advance payment of $10,000 from the City of San Luis Obispo (a customer) as part of a consulting contract to begin in February 10 1/15/14 The company received a shipment of phones from Ericsson, Inc., on Purchase Order No. 101. Items were received and a bill was recorded that is due in 30 days 11 1/16/14 The company created Sales Receipt No. 501 to record 50 hours of consulting services and the sale of 25 Ericsson LX588 phones to Sterling Hotels Corporation. A check was received and deposited for 7,425 12 1/17/14 The company paid semi-monthly payrollstarting with Check No.3005 for the period January 1 to January 15, 2014. Jay Bruner and Alex Rodriguez worked the month on salary. Megan Paulson worked 80 hours during the period. Payroll tax information is shown in Table 7.3 Table Eningithholing Alex Jay Megan 960.0 -144.0 7.3 em 1,500.00 -225.00 93.00 21.75 -75.00 7.50 1.50 93.00 21.75 4.80 18.00 1,077.75 2,000.00 -300.00 -124.00 29.00 -100.00 10.00 2.00 124.00 29.00 640 24.00 1,437.00 Payroll Information for Central Earnings Federal Withholding Coast Cellular Social Security Employee Medicare Employee CA Withholding CA Disability Employee CA Employee Training Tax Social Security Company Medicare Company Federal Unemployment CA Unemployment Check Amount 59.52 -13.92 -48.00 -4.8 0.9 59.52 13.92 3.07 11.52 689.7 Print the following as of 1/17/14 a. Profit & Loss Standard b. Balance Sheet Standard C. Transaction List by Date