Requirement: step nos. 13, 16, 19, 26, 27, 28,
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 Step 10: Enter the account subtotals data (account number ranges) to provide the following subtotals: Total Current Assets Total Fixed Asrets Total Current Liabiilies Totaf Long-Term Labilites (iff 11: titles and balances shown at the beginning of this problem. 4 12 Enter budget amounts. 19 13: Display a chart of accounts, vendor list, and customer list. 14. Save your data with a file name of 11-A Your Name. 15: Enter the fixed assets. 16. Display the fixed assets list report. 17: Save the data to your disk. 18: Enter the employee data. 19: Display the employee list. 10 20: Enter a 1.5% city tax rate and .062 in the employer $5 rate in the payroll tax tables. 21: Save the data to your disk. yp 222. Enter the inventory stock items. 4 23: Enter the purchase order historical data. 4pe 24: Enter the purchase invoice historical data. 90p 25: Enter the sales invoice historical data. 94 26. Display an inventory list report. App27: Display an inventory transaction report. 4p 28: Display a trial balance, schedule of accounts payable, and schedule of accounts receivable. 4n 29: Save your data to disk. If you have access to the Internet, use your browser to find information about a current business acquisition. Hint Use business acquisition as your search string. Report your findings. Be sure to include the sources, includ. ing URL (Web addresses), of your reported findings. lie 30: End the Integrated Accounting Be session. 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 Step 10: Enter the account subtotals data (account number ranges) to provide the following subtotals: Total Current Assets Total Fixed Asrets Total Current Liabiilies Totaf Long-Term Labilites (iff 11: titles and balances shown at the beginning of this problem. 4 12 Enter budget amounts. 19 13: Display a chart of accounts, vendor list, and customer list. 14. Save your data with a file name of 11-A Your Name. 15: Enter the fixed assets. 16. Display the fixed assets list report. 17: Save the data to your disk. 18: Enter the employee data. 19: Display the employee list. 10 20: Enter a 1.5% city tax rate and .062 in the employer $5 rate in the payroll tax tables. 21: Save the data to your disk. yp 222. Enter the inventory stock items. 4 23: Enter the purchase order historical data. 4pe 24: Enter the purchase invoice historical data. 90p 25: Enter the sales invoice historical data. 94 26. Display an inventory list report. App27: Display an inventory transaction report. 4p 28: Display a trial balance, schedule of accounts payable, and schedule of accounts receivable. 4n 29: Save your data to disk. If you have access to the Internet, use your browser to find information about a current business acquisition. Hint Use business acquisition as your search string. Report your findings. Be sure to include the sources, includ. ing URL (Web addresses), of your reported findings. lie 30: End the Integrated Accounting Be session
