Systems Understanding Aid

10th Edition I am working on Transactions List A (the blue sheet) .

can any one help me out to solve the transaction list A with the journals?

Document No. 1 Transactions List December 16-31, 2022 Complete each of the following transactions in accordance with the seven-step process on pages 11-12 of the Instructions and Flowcharts book (step 5). Remember the importance of the flowcharts on pages 18-24 for details as to (a) documents to prepare, (b) approvals and other internal control procedures, (c) account- ing entries, and (d) filing. You are to perform the roles of Ray Kramer, Nancy Ford, and Jim Adams. Flowchart page references are included in the third column of the transactions list where appropriate. Some of the following events require the preparation or modification of documents and some do not. Although documents accompany most business transactions, you are asked to prepare and work with only a representative sample in this project. Each event on the transactions list includes one of two sym- bols, which determine whether documents from the loose document set in this project must be prepared or used: You are required to prepare or modify documents from the loose document set for this event. An accounting entry may or may not be required. No You are not required to prepare or modify documents from the loose document set because documents would not normally be prepared or modified for this type of event. An accounting entry is required, with one exception: the annual change in employee pay rates. Hints are provided in boxed areas like this. Trans. # Dec. 1 16th Yes Document? Flowchart Description Received customer purchase order No. 53426 (Doc. No. 4) from Rosemont University, approved their credit and shipped the goods. All goods ordered were shipped, except that only 50 shoulder pad sets were available for shipment. p. 18-19 Carrier & number: Allied Trucking; Carrier number 2154 Freight charges: FOB shipping point (i.e., will be paid by Rosemont) Route: Express Truck & driver: Truck 2961XZ, John Arens Freight rate: $37.00 per 100 lbs. Shipment: 5 cartons/goal and rim sets @ 42 lbs./carton 2 cartons/backboards @123 lbs./carton 10 cartons/shoulder pad sets @ 30 lbs./carton 4 cartons/football helmets @32 lbs./carton Rosemont's credit limit is documented in their subsidiary ledger account. You will use several documents and record an entry in the sales journal and the accounts receivable subsidiary ledger for this transaction. For guidance in preparing the bill of lading, see pages 35-36 of the Reference book. A 1 Trans. # Dec. 2. 16th || D0 BC 3 16th Document? Flowchart Description Yes Received an email notification from First American Bank and Trust for an ACH payment from Branch College. ACH payment received was $1,622.88 for payment in full of charge sale invoice No. 730. p.21 Because Branch College paid within ten days of the original sale, be sure to record the applicable discount. Yes Ordered the following inventory on account from Velocity Sporting Goods, using purchase order No. 328 (Doc. No. 16). Units Item # Description 115 p. 22 BB-019 Basketball pole pad 125 BB-538 Basketball bag 75 BB-431 Whistle and lanyard - set of 6 50 BB-399 Basketball net 100 FB-027 Shoulder pad set (to cover back order and inventory restock) Vendor address: 1285 Colgrove Ave., Pierre, SD 57501 Freight carrier: Interstate Motor Freight Freight charges: FOB shipping point (i.e., will be paid later by Waren) Allowances: None Use purchase order No. 325 (Doc. No. 16) as a guide. Use the price list (Doc. No. 3). No receiving or recording occurs at this point for this transaction. Tear document apart and file, following the flowchart guidance. Yes Received office supplies from Chicago Office Supply as listed on purchase order No. 327 (Doc. No. 16), a copy of which is being held in accounting. Chicago Office Supply's vendor invoice No. 2378 (Doc. No. 18) was received with the goods. All supplies ordered were received in good condition and taken directly to the office, p. 22 but the invoice was not paid. 4 19th Borrowed soon from First American Bank and Trust bu issuing twear note C 4 19th Yes 125 BB-538 Basketball bag 75 BB-431 Whistle and lanyard - set of 6 50 BB-399 Basketball net 100 FB-027 Shoulder pad set (to cover back order and inventory restock) Vendor address: 1285 Colgrove Ave., Pierre, SD 57501 Freight carrier: Interstate Motor Freight Freight charges: FOB shipping point (i.e., will be paid later by Waren) Allowances: None Use purchase order No. 325 (Doc. No. 16) as a guide. Use the price list (Doc. No. 3). No receiving or recording occurs at this point for this transaction. Tear document apart and file, following the flowchart guidance. Received office supplies from Chicago Office Supply as listed on purchase order No. 327 (Doc. No. 16), a copy of which is being held in accounting. Chicago Office Supply's vendor invoice No. 2378 (Doc. No. 18) was received with the goods. All supplies ordered were received in good condition and taken directly to the office, but the invoice was not paid. Borrowed $90,000 from First American Bank and Trust by issuing a two-year note payable (Doc. No. 14) with a stated annual interest rate of 5.5%. Received an email notification from the bank that the $90,000 proceeds were electronically deposited into Waren's checking account. Reviewed the terms and conditions of the note and signed it (Ray Kramer) as the borrower. Follow the ACH deposit procedures in the flowchart. File the note in the Shipping/Banking file tab. Received sales return request No. R8034 (Doc. No. 12) from Eastern Wisconsin University (EWU). The request was approved, and the acknowledgment copy mailed to EWU. p. 22 5 19th Yes p21 6 19th Yes p. 20 You can't record the sales return yet because the goods have not yet been received from Eastern Wisconsin University. Received vendor invoice No. 105963 (Doc. No. 18) from First Security Insurance for the fourth quarter's health insurance coverage for employees and immediately issued a check (Doc. No. 20) for payment in full. 7 20th Yes p. 23 Purchase orders are not issued for services that Waren purchases. A 2 Trans. # Dec. 8 20th 9 20th Document? Flowchart Description Increased employee pay rates effective for the December 16th-31st semimonthly No pay period. There were no changes in filing status or withholding allowances. New Pay Rate NA Ray Kramer $3,575 semimonthly Jim Adams $22.50 per hour Nancy Ford $18.30 per hour No accounting entries are necessary, but you must update the pay rate history information in the Employee Earnings Subsidiary Ledger Yes Received merchandise from Velocity Sporting Goods as listed on purchase order No. 328. All merchandise listed on the purchase order was delivered in good condition and in the quantities ordered, except that only 71 basketball pole pads (Item No. BB-019) were received. The goods were placed immediately in the p. 22 inventory warehouse. You can't record a purchase yet because the invoice hasn't been received. Yes Filled the backorder quantity of 25 shoulder pad sets for Rosemont University's customer purchase order No. 53426 (Doc. No. 4). Approved Rosemont's credit and shipped the back ordered shoulder pad sets. Prepared a new charge sale invoice (Doc. No. 6) for the sale to Rosemont. Carrier & number: Allied Trucking; Carrier number 2154 Freight charges: FOB shipping point i.e., will be paid by Rosemont) Route: Express Truck & driver: Truck 2988XZ, Jennifer Hansen Freight rate: $37.00 per 100 lbs. Shipment: 5 cartons/shoulder pad sets @ 30 lbs./carton Rosemont's credit limit is documented in their subsidiary ledger account. You will use several documents and record an entry in the sales journal and the accounts receivable subsidiary ledger for this transaction. For guidance in preparing the bill of lading, see pages 35-36 of the Reference book. Yes Received vendor invoice No. 34719 (Doc. No. 18) from Velocity Sporting Goods for goods ordered December 16th and received December 20th. 10 21st p. 18-19 11 22nd p. 22 12 23rd No Upon receiving the invoice, you can now record the purchase using the date on which Waren incurred the liability for the goods, December 20th. Received legal notification from Benson, Rosenbrook, and Martinson, P.C., attorneys at law, that Stevenson College had filed bankruptcy and will most likely be unable to pay any of its outstanding debts to its suppliers. Write off the account as a bad debt. Remember that Waren Sports Supply uses the "Allowance" method rather than "Direct write-off" for accounting for bad debts. p 19 Trans. # Dec. 13 23rd 14 27th Yes 15 27th Document? Flowchart Description Yes Received all goods that Waren had authorized Eastern Wisconsin University (EWU) to return on EWU's return request No. R8034 for credit against their account balance. p. 20 Process and record the sales return now. For guidance on completing the sales return request, see page 42 of the Reference book. Received check No. 49326 (Doc. No. 8) for $12,000 from Eastern Wisconsin University in partial payment of the remaining amount (after sales return) on charge sale invoice No. 729. p21 Restrictively endorse means to write the following on the back of the check: "For deposit only. Waren Sports Supply." Cash receipts prelist is Doc. No. 9. Do not finalize a deposit slip (Doc. No. 10) until you determine whether there are other cash receipts in the form of checks on the same day. Received check No. 47852 (Doc. No. 8) for $5,835 and customer purchase order No. Yes H8241 (Doc. No. 4) in the mail from Hawkins College for a cash sale. All goods ordered were shipped and the cash sale was processed and recorded. Made a bank deposit for this cash sale plus today's collection from Eastern Wisconsin University. p. 21 Received validated deposit receipt (Doc. No. 11) from the bank after deposit was made. Carrier & number: Interstate Motor Freight; Carrier number 62XY404 Freight charges: FOB shipping point (i.e., will be paid by Hawkins College) Route: Direct Truck & driver: Truck 64, Regina Rexrode Freight rate: $37.00 per 100 lbs. Shipment: 3 cartons/basketballs @ 14 lbs./carton 15 cartons/hip, tail, and arm pad sets @32 lbs./carton 5 cartons/footballs @ 24 lbs./carton Record this cash receipt and process the bank deposit for the day. File Doc. No. 9 and Doc. No. 11 in the Temporary file tab. Yes Received vendor invoice No. 72654 (Doc. No. 18) from University Athletic News for advertisements Waren ran during the Christmas season and immediately issued a check (Doc. No. 20) for payment in full. p. 23 16 28th 17 28th Yes Received freight bill 26245 (Document No. 19) from Interstate Motor Freight for the Velocity Sporting Goods shipment received December 20th. Issued check (Doc. No. 20) to Interstate Motor Freight for the full amount of the freight bill. p. 23 18 29th Yes Issued an electronic payment to Velocity Sporting Goods using ACH Payment Authorization No. E-53431 (Doc. No. 21) for payment in full of their invoice No. 34719 (Doc. No. 18) for goods received December 20th. p. 23 Consider the credit terms before determining the amount of the electronic payment. A 4 Trans. # Dec. 19 29th Document? Flowchart Description Yes Received the standing workstations ordered on Waren's purchase order No. 325 (Doc. No. 16) and vendor invoice No. 2423 (Doc. No. 18) from Chicago Office Supply. The workstations were received in new and undamaged condition and p. 22 taken directly to the office. The estimated useful life is 5 years with no salvage value. 20 30th Yes p. 24 Printed and reviewed payroll time record reports (Doc. No. 22) for Ford and Adams for the time period ended December 31st and prepared the payroll for all three employees, including paychecks. Federal and state withholding amounts for each employee are as follows: Income Tax Withholding Amounts Federal State of Illinois Ray Kramer $312.00 $167.58 Jim Adams $220.00 $104.16 Nancy Ford $ 78.00 $ 74.74 Paychecks are considered "Mailed/Given to Outsiders." Time record reports are filed in the "Accounting" file tab. MONTH-END PROCEDURES - After you have recorded all the transactions, go to page 12 of the Instructions and Flowcharts book and complete all the month-end procedures. An additional month-end requirement for this project is: Monthly Statement Prepare a monthly statement (Doc. No. 15) for Branch College. Yes YEAR-END PROCEDURES - After completing all the month-end procedures, go to page 14 of the Instructions and Flowcharts book and complete all the year-end procedures. Additional information for the year-end procedures is: No Ending Inventory - A physical inventory was taken 1/1/23, before business began for the BA-507 Paychecks are considered "Mailed/Given to Outsiders. Time record reports are filed in the "Accounting" file tab. MONTH-END PROCEDURES - After you have recorded all the transactions, go to page 12 of the Instructions and Flowcharts book and complete all the month-end procedures. An additional month-end requirement for this project is: 6 of 6 ly Statement - Prepare a monthly statement (Doc. No. 15) for Branch College. YEAR-END PROCEDURES - After completing all the month-end procedures, go to page 14 of the Instructions and Flowcharts book and complete all the year-end procedures. Additional information for the year-end procedures is: No Ending Inventory - A physical inventory was taken 1/1/23, before business began for the new year. Merchandise on hand cost $ 201,604.00. No Bad Debt Expense - The expense for bad debts is estimated at the end of the year as one-quarter of one percent (0.0025) of net sales. No Marketable Securities - At December 31, 2022, the market value of marketable securities held by Waren approximated the cost of the securities. The project is now complete. Good work! Review your materials to make certain everything is finalized. Complete the filing of documents, records, and working papers using the file tabs and the envelope in which the Aid is packaged. File all materials as indicated in the flowcharts. A 5 Document No. 3 PRICE LISTS CURRENT AS OF DECEMBER 1, 2022 VELOCITY SPORTING GOODS Item No. Description Cost Selling Price Baseball items: BA-054 Premium aluminum bat $ 139.00 $ 219.00 BA-158 Baseballs - 12 game balls 42.00 65.00 BA-199 Fielding glove 46.00 68.00 BA-281 BA.281 60 lb. dry line marker 65.00 97.00 BA.445 BA-445 Catcher's mask 24 48.00 71.00 Baseball equipment bag 27.00 2700 29.00 38.00 BA-667 Ball bucket with seat-set of 3 23.00 2200 30.00 BA-694 Batting gloves - 1 pair 24.00 33.00 BA-807 Pitching machine 164.00 239.00 BA-859 Set of bases 111.00 174.00 Basketball items: BB-008 Basketball 25.00 35.00 BB-019 Basketball pole pad 94.00 135.00 BB-113 BR.142 Scoreboard and timer 258.00 400.00 De BB-267 Goal and rim set OF 95.00 140.00 De aco BB-358 83.00 1990 123.00 DD 200 BB-399 400 Basketball net 10.00 16.00 DD 120 2500 BB-431 Whistle and lanyard - set of 6 25.00 32.00 BB-538 Basketball bag 26.00 41.00 BB-688 Portable inflation pump 69.00 107.00 BB-926 Trainer's first aid kit 30.00 42.00 Football items: FB-027 Shoulder pad set 89.00 133.00 FB-091 Hip, tail, arm pad set 39.00 58.00 FB-225 Football helmet 55.00 89.00 FB-344 Football 21.00 29.00 Portable storage locker 135.00 223.00 FB-573 Kicking tees - set of 6 16.00 24.00 FB-650 Football post pad 96.00 144.00 FB-812 Collapsible cones - set of 8 27.00 37.00 FB-874 Sideline repair kit 83.00 122.00 FB-952 Portable hand warmer 26.00 41.00 Backboard FB-513 CHICAGO OFFICE SUPPLY Item No. Description Cost 4126 4733 5207 8509 e 5302 6211 6218 2342 6277 7246 Laser printer toner cartridge Copier paper - box Manila file folders - box of 50 16 GB Flash Drive - 3 pack Invoice forms - 100 Legal pad - box of 12 Correction tape - box of 6 Black ink pens - box of 12 Pencils - box of 24 Business envelopes - box of 1000 $ 124.75 39.95 12.50 19.25 16.50 7.95 13.25 12.75 2.25 19.50 11477 17144 15321 27" LED QHD monitor Standing workstation 146 GB rack server $ 272.00 395.00 6,950.00 Approved by Ray Kramer Document No. 1 Transactions List December 16-31, 2022 Complete each of the following transactions in accordance with the seven-step process on pages 11-12 of the Instructions and Flowcharts book (step 5). Remember the importance of the flowcharts on pages 18-24 for details as to (a) documents to prepare, (b) approvals and other internal control procedures, (c) account- ing entries, and (d) filing. You are to perform the roles of Ray Kramer, Nancy Ford, and Jim Adams. Flowchart page references are included in the third column of the transactions list where appropriate. Some of the following events require the preparation or modification of documents and some do not. Although documents accompany most business transactions, you are asked to prepare and work with only a representative sample in this project. Each event on the transactions list includes one of two sym- bols, which determine whether documents from the loose document set in this project must be prepared or used: You are required to prepare or modify documents from the loose document set for this event. An accounting entry may or may not be required. No You are not required to prepare or modify documents from the loose document set because documents would not normally be prepared or modified for this type of event. An accounting entry is required, with one exception: the annual change in employee pay rates. Hints are provided in boxed areas like this. Trans. # Dec. 1 16th Yes Document? Flowchart Description Received customer purchase order No. 53426 (Doc. No. 4) from Rosemont University, approved their credit and shipped the goods. All goods ordered were shipped, except that only 50 shoulder pad sets were available for shipment. p. 18-19 Carrier & number: Allied Trucking; Carrier number 2154 Freight charges: FOB shipping point (i.e., will be paid by Rosemont) Route: Express Truck & driver: Truck 2961XZ, John Arens Freight rate: $37.00 per 100 lbs. Shipment: 5 cartons/goal and rim sets @ 42 lbs./carton 2 cartons/backboards @123 lbs./carton 10 cartons/shoulder pad sets @ 30 lbs./carton 4 cartons/football helmets @32 lbs./carton Rosemont's credit limit is documented in their subsidiary ledger account. You will use several documents and record an entry in the sales journal and the accounts receivable subsidiary ledger for this transaction. For guidance in preparing the bill of lading, see pages 35-36 of the Reference book. A 1 Trans. # Dec. 2. 16th || D0 BC 3 16th Document? Flowchart Description Yes Received an email notification from First American Bank and Trust for an ACH payment from Branch College. ACH payment received was $1,622.88 for payment in full of charge sale invoice No. 730. p.21 Because Branch College paid within ten days of the original sale, be sure to record the applicable discount. Yes Ordered the following inventory on account from Velocity Sporting Goods, using purchase order No. 328 (Doc. No. 16). Units Item # Description 115 p. 22 BB-019 Basketball pole pad 125 BB-538 Basketball bag 75 BB-431 Whistle and lanyard - set of 6 50 BB-399 Basketball net 100 FB-027 Shoulder pad set (to cover back order and inventory restock) Vendor address: 1285 Colgrove Ave., Pierre, SD 57501 Freight carrier: Interstate Motor Freight Freight charges: FOB shipping point (i.e., will be paid later by Waren) Allowances: None Use purchase order No. 325 (Doc. No. 16) as a guide. Use the price list (Doc. No. 3). No receiving or recording occurs at this point for this transaction. Tear document apart and file, following the flowchart guidance. Yes Received office supplies from Chicago Office Supply as listed on purchase order No. 327 (Doc. No. 16), a copy of which is being held in accounting. Chicago Office Supply's vendor invoice No. 2378 (Doc. No. 18) was received with the goods. All supplies ordered were received in good condition and taken directly to the office, p. 22 but the invoice was not paid. 4 19th Borrowed soon from First American Bank and Trust bu issuing twear note C 4 19th Yes 125 BB-538 Basketball bag 75 BB-431 Whistle and lanyard - set of 6 50 BB-399 Basketball net 100 FB-027 Shoulder pad set (to cover back order and inventory restock) Vendor address: 1285 Colgrove Ave., Pierre, SD 57501 Freight carrier: Interstate Motor Freight Freight charges: FOB shipping point (i.e., will be paid later by Waren) Allowances: None Use purchase order No. 325 (Doc. No. 16) as a guide. Use the price list (Doc. No. 3). No receiving or recording occurs at this point for this transaction. Tear document apart and file, following the flowchart guidance. Received office supplies from Chicago Office Supply as listed on purchase order No. 327 (Doc. No. 16), a copy of which is being held in accounting. Chicago Office Supply's vendor invoice No. 2378 (Doc. No. 18) was received with the goods. All supplies ordered were received in good condition and taken directly to the office, but the invoice was not paid. Borrowed $90,000 from First American Bank and Trust by issuing a two-year note payable (Doc. No. 14) with a stated annual interest rate of 5.5%. Received an email notification from the bank that the $90,000 proceeds were electronically deposited into Waren's checking account. Reviewed the terms and conditions of the note and signed it (Ray Kramer) as the borrower. Follow the ACH deposit procedures in the flowchart. File the note in the Shipping/Banking file tab. Received sales return request No. R8034 (Doc. No. 12) from Eastern Wisconsin University (EWU). The request was approved, and the acknowledgment copy mailed to EWU. p. 22 5 19th Yes p21 6 19th Yes p. 20 You can't record the sales return yet because the goods have not yet been received from Eastern Wisconsin University. Received vendor invoice No. 105963 (Doc. No. 18) from First Security Insurance for the fourth quarter's health insurance coverage for employees and immediately issued a check (Doc. No. 20) for payment in full. 7 20th Yes p. 23 Purchase orders are not issued for services that Waren purchases. A 2 Trans. # Dec. 8 20th 9 20th Document? Flowchart Description Increased employee pay rates effective for the December 16th-31st semimonthly No pay period. There were no changes in filing status or withholding allowances. New Pay Rate NA Ray Kramer $3,575 semimonthly Jim Adams $22.50 per hour Nancy Ford $18.30 per hour No accounting entries are necessary, but you must update the pay rate history information in the Employee Earnings Subsidiary Ledger Yes Received merchandise from Velocity Sporting Goods as listed on purchase order No. 328. All merchandise listed on the purchase order was delivered in good condition and in the quantities ordered, except that only 71 basketball pole pads (Item No. BB-019) were received. The goods were placed immediately in the p. 22 inventory warehouse. You can't record a purchase yet because the invoice hasn't been received. Yes Filled the backorder quantity of 25 shoulder pad sets for Rosemont University's customer purchase order No. 53426 (Doc. No. 4). Approved Rosemont's credit and shipped the back ordered shoulder pad sets. Prepared a new charge sale invoice (Doc. No. 6) for the sale to Rosemont. Carrier & number: Allied Trucking; Carrier number 2154 Freight charges: FOB shipping point i.e., will be paid by Rosemont) Route: Express Truck & driver: Truck 2988XZ, Jennifer Hansen Freight rate: $37.00 per 100 lbs. Shipment: 5 cartons/shoulder pad sets @ 30 lbs./carton Rosemont's credit limit is documented in their subsidiary ledger account. You will use several documents and record an entry in the sales journal and the accounts receivable subsidiary ledger for this transaction. For guidance in preparing the bill of lading, see pages 35-36 of the Reference book. Yes Received vendor invoice No. 34719 (Doc. No. 18) from Velocity Sporting Goods for goods ordered December 16th and received December 20th. 10 21st p. 18-19 11 22nd p. 22 12 23rd No Upon receiving the invoice, you can now record the purchase using the date on which Waren incurred the liability for the goods, December 20th. Received legal notification from Benson, Rosenbrook, and Martinson, P.C., attorneys at law, that Stevenson College had filed bankruptcy and will most likely be unable to pay any of its outstanding debts to its suppliers. Write off the account as a bad debt. Remember that Waren Sports Supply uses the "Allowance" method rather than "Direct write-off" for accounting for bad debts. p 19 Trans. # Dec. 13 23rd 14 27th Yes 15 27th Document? Flowchart Description Yes Received all goods that Waren had authorized Eastern Wisconsin University (EWU) to return on EWU's return request No. R8034 for credit against their account balance. p. 20 Process and record the sales return now. For guidance on completing the sales return request, see page 42 of the Reference book. Received check No. 49326 (Doc. No. 8) for $12,000 from Eastern Wisconsin University in partial payment of the remaining amount (after sales return) on charge sale invoice No. 729. p21 Restrictively endorse means to write the following on the back of the check: "For deposit only. Waren Sports Supply." Cash receipts prelist is Doc. No. 9. Do not finalize a deposit slip (Doc. No. 10) until you determine whether there are other cash receipts in the form of checks on the same day. Received check No. 47852 (Doc. No. 8) for $5,835 and customer purchase order No. Yes H8241 (Doc. No. 4) in the mail from Hawkins College for a cash sale. All goods ordered were shipped and the cash sale was processed and recorded. Made a bank deposit for this cash sale plus today's collection from Eastern Wisconsin University. p. 21 Received validated deposit receipt (Doc. No. 11) from the bank after deposit was made. Carrier & number: Interstate Motor Freight; Carrier number 62XY404 Freight charges: FOB shipping point (i.e., will be paid by Hawkins College) Route: Direct Truck & driver: Truck 64, Regina Rexrode Freight rate: $37.00 per 100 lbs. Shipment: 3 cartons/basketballs @ 14 lbs./carton 15 cartons/hip, tail, and arm pad sets @32 lbs./carton 5 cartons/footballs @ 24 lbs./carton Record this cash receipt and process the bank deposit for the day. File Doc. No. 9 and Doc. No. 11 in the Temporary file tab. Yes Received vendor invoice No. 72654 (Doc. No. 18) from University Athletic News for advertisements Waren ran during the Christmas season and immediately issued a check (Doc. No. 20) for payment in full. p. 23 16 28th 17 28th Yes Received freight bill 26245 (Document No. 19) from Interstate Motor Freight for the Velocity Sporting Goods shipment received December 20th. Issued check (Doc. No. 20) to Interstate Motor Freight for the full amount of the freight bill. p. 23 18 29th Yes Issued an electronic payment to Velocity Sporting Goods using ACH Payment Authorization No. E-53431 (Doc. No. 21) for payment in full of their invoice No. 34719 (Doc. No. 18) for goods received December 20th. p. 23 Consider the credit terms before determining the amount of the electronic payment. A 4 Trans. # Dec. 19 29th Document? Flowchart Description Yes Received the standing workstations ordered on Waren's purchase order No. 325 (Doc. No. 16) and vendor invoice No. 2423 (Doc. No. 18) from Chicago Office Supply. The workstations were received in new and undamaged condition and p. 22 taken directly to the office. The estimated useful life is 5 years with no salvage value. 20 30th Yes p. 24 Printed and reviewed payroll time record reports (Doc. No. 22) for Ford and Adams for the time period ended December 31st and prepared the payroll for all three employees, including paychecks. Federal and state withholding amounts for each employee are as follows: Income Tax Withholding Amounts Federal State of Illinois Ray Kramer $312.00 $167.58 Jim Adams $220.00 $104.16 Nancy Ford $ 78.00 $ 74.74 Paychecks are considered "Mailed/Given to Outsiders." Time record reports are filed in the "Accounting" file tab. MONTH-END PROCEDURES - After you have recorded all the transactions, go to page 12 of the Instructions and Flowcharts book and complete all the month-end procedures. An additional month-end requirement for this project is: Monthly Statement Prepare a monthly statement (Doc. No. 15) for Branch College. Yes YEAR-END PROCEDURES - After completing all the month-end procedures, go to page 14 of the Instructions and Flowcharts book and complete all the year-end procedures. Additional information for the year-end procedures is: No Ending Inventory - A physical inventory was taken 1/1/23, before business began for the BA-507 Paychecks are considered "Mailed/Given to Outsiders. Time record reports are filed in the "Accounting" file tab. MONTH-END PROCEDURES - After you have recorded all the transactions, go to page 12 of the Instructions and Flowcharts book and complete all the month-end procedures. An additional month-end requirement for this project is: 6 of 6 ly Statement - Prepare a monthly statement (Doc. No. 15) for Branch College. YEAR-END PROCEDURES - After completing all the month-end procedures, go to page 14 of the Instructions and Flowcharts book and complete all the year-end procedures. Additional information for the year-end procedures is: No Ending Inventory - A physical inventory was taken 1/1/23, before business began for the new year. Merchandise on hand cost $ 201,604.00. No Bad Debt Expense - The expense for bad debts is estimated at the end of the year as one-quarter of one percent (0.0025) of net sales. No Marketable Securities - At December 31, 2022, the market value of marketable securities held by Waren approximated the cost of the securities. The project is now complete. Good work! Review your materials to make certain everything is finalized. Complete the filing of documents, records, and working papers using the file tabs and the envelope in which the Aid is packaged. File all materials as indicated in the flowcharts. A 5 Document No. 3 PRICE LISTS CURRENT AS OF DECEMBER 1, 2022 VELOCITY SPORTING GOODS Item No. Description Cost Selling Price Baseball items: BA-054 Premium aluminum bat $ 139.00 $ 219.00 BA-158 Baseballs - 12 game balls 42.00 65.00 BA-199 Fielding glove 46.00 68.00 BA-281 BA.281 60 lb. dry line marker 65.00 97.00 BA.445 BA-445 Catcher's mask 24 48.00 71.00 Baseball equipment bag 27.00 2700 29.00 38.00 BA-667 Ball bucket with seat-set of 3 23.00 2200 30.00 BA-694 Batting gloves - 1 pair 24.00 33.00 BA-807 Pitching machine 164.00 239.00 BA-859 Set of bases 111.00 174.00 Basketball items: BB-008 Basketball 25.00 35.00 BB-019 Basketball pole pad 94.00 135.00 BB-113 BR.142 Scoreboard and timer 258.00 400.00 De BB-267 Goal and rim set OF 95.00 140.00 De aco BB-358 83.00 1990 123.00 DD 200 BB-399 400 Basketball net 10.00 16.00 DD 120 2500 BB-431 Whistle and lanyard - set of 6 25.00 32.00 BB-538 Basketball bag 26.00 41.00 BB-688 Portable inflation pump 69.00 107.00 BB-926 Trainer's first aid kit 30.00 42.00 Football items: FB-027 Shoulder pad set 89.00 133.00 FB-091 Hip, tail, arm pad set 39.00 58.00 FB-225 Football helmet 55.00 89.00 FB-344 Football 21.00 29.00 Portable storage locker 135.00 223.00 FB-573 Kicking tees - set of 6 16.00 24.00 FB-650 Football post pad 96.00 144.00 FB-812 Collapsible cones - set of 8 27.00 37.00 FB-874 Sideline repair kit 83.00 122.00 FB-952 Portable hand warmer 26.00 41.00 Backboard FB-513 CHICAGO OFFICE SUPPLY Item No. Description Cost 4126 4733 5207 8509 e 5302 6211 6218 2342 6277 7246 Laser printer toner cartridge Copier paper - box Manila file folders - box of 50 16 GB Flash Drive - 3 pack Invoice forms - 100 Legal pad - box of 12 Correction tape - box of 6 Black ink pens - box of 12 Pencils - box of 24 Business envelopes - box of 1000 $ 124.75 39.95 12.50 19.25 16.50 7.95 13.25 12.75 2.25 19.50 11477 17144 15321 27" LED QHD monitor Standing workstation 146 GB rack server $ 272.00 395.00 6,950.00 Approved by Ray Kramer