requirement: display a trial balance, schedule of accounts payable, and schedule of accounts receivable.
Problem 11-A In this problem, you will set up the accounting, fixed assets, payroll, inventory, and budgeting data for Schaff Irrigation Co. Schaff Irrigation Co. is a merchandising business organized as a sole proprietorship; is not departmentalized; has payroll voluntary deductions for health insurance, dental insurance, and credit union; prepares checks manually; generates the income statement by fiscal period; uses a perpetual inventory system (merchandising business with CGS account); uses the FIFO method to value its inventory; and uses a standard accounting system. The trial balance, schedule of accounts payable, schedule of accounts receivable, budget amounts, fixed assets, employees, and inventory data required to setup the opening balances as of January 1 of the current year are provided as follows: Custorners Cardinal Sprinkler inc. Delia Irrigation Green Lands ape Co. Maxx's Lawn Care: Rain Cloud Sprinkler Co: Webb Lawn Sprinklers: \begin{tabular}{|rr} \hline Budget Amounts & Budget Amount \\ & $620,000.00 \\ $420,000.00 \\ & $2,500.00 \\ $725.00 \\ $9.52,100.00 \\ & $5,250.00 \\ $1,000.00 \\ & $15,000.00 \\ & $25,000.00 \\ & $50,000.00 \\ & $45,000.00 \\ & $5,000.00 \\ & $7,250.00 \\ \hline \end{tabular} $521 Montoe St. bilene, TX 796052100 Note: Because the payroll system is being established on the first day of a new calendar yeary it is not necessary to whokitsi current, quarter-to-date, or year-to-date opening balances data. Inventory Historical Data Problem 11-A In this problem, you will set up the accounting, fixed assets, payroll, inventory, and budgeting data for Schaff Irrigation Co. Schaff Irrigation Co. is a merchandising business organized as a sole proprietorship; is not departmentalized; has payroll voluntary deductions for health insurance, dental insurance, and credit union; prepares checks manually; generates the income statement by fiscal period; uses a perpetual inventory system (merchandising business with CGS account); uses the FIFO method to value its inventory; and uses a standard accounting system. The trial balance, schedule of accounts payable, schedule of accounts receivable, budget amounts, fixed assets, employees, and inventory data required to setup the opening balances as of January 1 of the current year are provided as follows: Custorners Cardinal Sprinkler inc. Delia Irrigation Green Lands ape Co. Maxx's Lawn Care: Rain Cloud Sprinkler Co: Webb Lawn Sprinklers: \begin{tabular}{|rr} \hline Budget Amounts & Budget Amount \\ & $620,000.00 \\ $420,000.00 \\ & $2,500.00 \\ $725.00 \\ $9.52,100.00 \\ & $5,250.00 \\ $1,000.00 \\ & $15,000.00 \\ & $25,000.00 \\ & $50,000.00 \\ & $45,000.00 \\ & $5,000.00 \\ & $7,250.00 \\ \hline \end{tabular} $521 Montoe St. bilene, TX 796052100 Note: Because the payroll system is being established on the first day of a new calendar yeary it is not necessary to whokitsi current, quarter-to-date, or year-to-date opening balances data. Inventory Historical Data
