Sage 50 Accouting 2018 Chapter 1

Challenge Exercise 01 C1-1, Driving School (COMPANY Review) 1 > Refer to Exercise 1-15 to unzip the 01 C1-1 Driving.exe file. 2 > Open the 01 C1-1 Driving file. The Driving School is a sole proprietorship business, owned by Tanya Gauci. You should record the following transactions in the General Journal (double-entry accounting). You will learn how to record some of these entries more efficiently in the RECEIVABLES and PAYABLES modules in Chapters 2A, 2B, 3A and 3B. The fiscal year is Jan 1 to Dec 31. Use appropriate additional Info and comment fields in 3 transactions Note: This assignment does not involve HST. similar to Photos Company, This business uses the Track Additional Transaction Details feature where necessary 3 > Record and Post the following transactions in the General Journal for the month of January using the double-entry method. Jan 2 Purchased $80.00 worth of office supplies from Kanwal Supplies and issued cheque #652 Note that these supplies are assumed to be used up by the end of the month. Jan 2 issued $80.00 invoice #324 to YOUR name (your name in the comment line) for 2 hours of driving lessons before your driving test. Cheque #113 received. Jan 3 Issued $600.00 cheque #653 to Uptown Mall for rent of a store in the mall. Jan 5 Issued $50.00 invoice #325 and received cheque #748 from Vito Campize for one-hour driving lesson ($40.00) and rule book test ($10.00) for his daughter. Jan 6 Issued $320.00 cheque #654 to Capilano Advertising for advertisements being delivered to homes in the area today. Jan 8 A new client, Naomi Regalea, took a 3-hour driving lesson. Received her $120.00 cheque #522 for invoice #326. Jan 9 Issued $120.00 cheque #655 to Morton Medina (driving teacher) for wages. Jan 11 Purchased 2 driving lesson DVDs at $75.00 each for use in the Beginners Driving Lesson course approved by the government. They will be used in the course starting tomorrow. Cheque #656 issued to Major Film Labs. Jan 12 Record the $308.00 Bank Debit memo for a payment on the bank loan. This amount includes interest of $32.40 Jan 12 Beginners Driving Lessons course started today. Received $250.00 cash from customers and deposited $250.00 in the bank today