Techtastic Corp. is a small computer consulting business. The company is organized as a corporation and provides consulting services, computer system installations, and custom program development. Techtastic Corp. showed the following alphabetized post-closing trial balance at February 28, 2014. Accounts payable Account Accounts receivable. Accumulated depreciation, machinery... Cash Machinery Retained earnings Share capital Note: Balance 50,000 131,000 3,500 133,500 52,500 82,000 181,500 There were 18,000 shares issued and outstanding on February 28, 2014. Depreciation on the machinery is $1,250 per month. Techtastic Corp.'s salaries expense is a total of $900 per day for each work day (Monday-Friday) in the month (for simplicity, please ignore all statutory holidays). The following source documents are from March: Deposit slip (March 1) Receipt 8855 Receipt 8856 Inter-Office Memo 3 Receipt 8854 Invoice 9173 Receipt from Bonnie's Diner Inter-Office Memo 1 Inter-Office Memo 2 Purchase Order 3764 Receipt from Carter's Diner Customer Statement for BetaCo Purchase Order 1654 Invoice 2682 Receipt 1388 Invoice 2683 Toronto Public Utilities Bill OnPace Advertising Bill Inter-Office Memo 4 Inter-Office Memo 5 a) Analyze each of the preceding source documents and prepare journal entries using this information only. Note that some source documents may not require an entry. Also, all bills are recorded in the journal on the day they are received. Enter an appropriate description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (ie. January 15 would be 15/Jan). Techtastic Corp. 10519 Franklin Street Toronto, Ontario NIR 1W4 Cash D(M) BetaCo 8260 57 Street Toronto, Ontario P1Z5D4 Cheques (re 10,000 shares issued today) si Total Deposits Techtastic Corp. 10619 Franklin Street Toronto, Ontario NIR 1W4 Customer: Techtastic Corp. 10519 Franklin Street Recept 6054 mr Of Memo1 Date: March 1, 2014 Receipt No.: 8854 Dale March 1, 2014 From: Kent Brannan To: Office Assistant 30 Toronto, Ontario N1R 1W4 Customer ABC Co Rep: Linda Champion 3388 Sesame Avenue Date: March 1, 2014 Account No.: 3489 Invoice No: Verba Toronto, Ontario RSQ 419 Qty Description 6 Installation of new network component per hour Subject: Cash Disbursement Please write a cheque to XYZCO in the amount of $8.400. This will pay for rent for the next 12 months Thanks, Kent Brennan Unit Price Total $111 $666 Techtastic Corp 10619 Franklin Streal Toronto, Ontario N1R TW Vendor Carrie's Computer 1526 76 Street Toronto, Ontario ZBP 4R4 Hem No. Ordered COM163 1 Date: March 2, 2014 PO No.: 1654 Ship To: Technic Co 10519 Franklin Street Toronto, Ontario N1R 1W4 Unit Price Description Total Computare $20,400 $20,400 Estimated useful life: 10 $25.000 $25.000 Date March 3, 2014 Invoice No.: 2682 Techtastic Corp. 10519 Franklin Street Toronto, Ontario N1R 1W4 Customer: TrexCo 14083 31 Street Toronto, Ontario X409-44 BetaCo 13884 Sesame Road Toronto, Ontario ASH BAS Qty Description Rep Susan West PO No: Verbal 40 Iniis consultation to determine new program requirements, per hour 32 Follow-up consultation to confirm proposed program specification, per hour 24 System wide eating on new program, per hour 8 Training on new computer software, par hour Unit Total Price Qty $111 $4.440 $111 $3.552 $111 $2.664 $111 5888 Total: $666 Paid: $668 Balance Due: 6055 March 3, 2014 Date: Receipt No.: 8855 Description Rep: Andrew Martin 7 Ongoing consulting regarding security, per month. To begin immediately and end September 30, 2014 Carrie's Computers 1526 76 Street Toronto, Ontario ZBP 4R4 Customer Techlastic Corp 10619 Franklin Street Toronto, Ontario N1R 1W4 Unit Price Total Qty $1,800 $12,600 Total: $12,600 Paid: $12,000 Balance Due 50 Description 17 Date: Estimated residual value $3,120 Sub- Total: Shinglen $20,400 Inter-Office Memo 2 Date: March 6, 2014 From: Kent Brennan March 5, 2014 To: Invoice No.: 9173 Rep Kent Brennan PO No.: 1654 Office Assistant Subject: New Hire Jan Taylor has accepted our job offer and will begin employment with us on April 1. Please get everything ready for that date. Thanks, Kent Brennan Unit Total Price 1 Computers as ordered on March 2, 2014 $20,400 $20,400 Estimated useful fe: 10 years. Estimated residual value: $3,120. Sub- Total: $20,400 Freight: 0 Total: $20,400 Dallas' Fix-It 10534 Paper Crescent Toronto, Ontario H40 7C6 Customer: Techtastic Corp. 10519 Franklin Street Toronto, Ontario N1R 1W4 Qty Description 1 Repairs to machinery Techlastic Corp. 10519 Franklin Street Toronto, Ontario N1R 1W4 Vendor: BetaCo 12615 Elm Crescent Toronto, Ontario 11S 4T2 Item Ordered No. Date: March 8, 2014 Receipt No.: 1388 Techtastic Corp. 10519 Franklin Street Toronto, Ontario N1R 1W4 Customer: WestCo In 2683 Date: March 12, 2014 Invoice No.: 2683 Techtastic Corp. 10519 Franklin Street Toronto, Ontario N1R 1W4 Customer WestCo Rec850 March 13, 2014 Date: Receipt No.: 8856 Rep: Kevin Smith Server: Jan Table: 39 Receipt from Bonnie's Diner Bonnie's Diner 10972 33 Street Toronto, Ontario 827-4956 Check #: 111005 Date: March 17, 2014 Time: 12:57 Rep: Kent Brennan Rep: Kevin Smith 6973 49 Avenue 6973 49 Avenue Toronto, Ontario V1P 5W2 Unit Price Total Qty $500 $500 PO No.: Verbal Toronto, Ontario V1P 5W2 Description Unit Price Total Qty Description Balance forward 32 Initial consultation to determine new program requirements, per hour $65 $2,080 1 Invoice #2683 (on March 12, 2014) Total: $500 Paid: $500 40 Follow-up consultation to confirm proposed program specification, per hour $65 $2,600 Balance Due: $0 si 24 System wide testing on new program, per hour $65 $1,560 24 Training on new computer software, per $65 $1,560 Purchase Order 3784 Description hour Unit Price Total 3 Pop $0 2 Fettucini alfredo $7,800 $7,800 2 Beef dip Balance Due: Total: $7,800 Paid: $7,800 $0 3.00 22.00 20.00 Total: $45.00 Cash Received: $45.00 Thank you for dining with us! x Date: March 21, 2014 OnPace Advertising Tommi Publi Imer-Omice Memo 3 X PO No.: 3764 Toronto Public Utilities 9143 Elm Road Ship To: Toronto, Ontario IBD ZM7 Customer Name: Techtastic Corp Account No.: Service Period: Invoice Date: OnPace Advertising 9832 Elm Roed 5771237 01/Mar-22/Mar March 22, 2014 Toronto, Ontario D3E 116 Customer Name: Techtastic Corp Account No.: 6273445 Service Period: 01/Mar - 22/Mar Invoice Date: March 22, 2014 Date: March 25, 2014 From: Kent Brennan To: Office Assistant Subject: Cash Disbursement Please prepare a cheque for salaries owed to employees for the period March 1 to March 25. Techtastic Corp. 10519 Franklin Street Toronto, Ontario N1R 1W4 Unit Price Total Previous Charges Previous balance forward Payment on February 28 Total previous charges $650 $-650 50 $111 $4,440 Current Charges Previous Charges Previous balance forward Payment on February 28 Total previous charges Current Charges $500 $-500 50 Thanks, Kent Brennan Water and sewage $200 Natural Gas $400 Electricity $100 Total current charges $700 Sub- Total: TV advertising campaign Radio advertising campaign Print advertising campaign Total current charges $250 $250 $200 $700 $4,440 Amount Due: $700 Shipping: 0 Amount Due: $700 5R14 40 Product training to begin on April 1, 2014, per hour Total: $4,440 1 Server: Jerry Table: 49 Receipt from Carter's Diner Carter's Diner 2847 Paper Trail Toronto, Ontario 808-5514 Check #: 301502 2 Draft, Domestic 2 Pop 3 Hamburger 2 Sleak sandwich 1 Club sandwich 3 Fettucini alfredo Techtastic Corp. Customer Statement for BetaCo 10519 Franklin Street Toronto, Ontario N1R 1W4 Inter-Office Memo 41 X Date: March 31, 2014 Date: March 31, 2014 From: Kent Brennan To: Office Assistant Customer: BetaCo Date: March 30, 2014 13884 Sesame Road Time: 12:57 Toronto, Ontario ASH 6A5 6.00 6.00 Date Description Amount 24.00 March 1 Balance forward Balance $0 28.00 March 3 Invoice #2682 $11,544 $11,544 9.00 36.00 Total: $107.00 Cash Received: $107.00 Thank you for dining with us! Inter-Omco Mamo 5 Date: March 31, 2014 From: Kent Brennan To: Office Assistant Subject: Cash Disbursement Please prepare a cheque to pay dividends of $0.50 per share to shareholders of record on today's date. Thanks, Kent Brennan Amount Due: $11,544 Subject: Cash Disbursement Please prepare a cheque to pay the Toronto Public Utilities bill received on March 22. Thanks, Kent Brennant Choose an Account or Heading Categories:Accounts and Headings: All Assets Liabilities Equity Accounts Payable Accounts Receivable Accumulated Depreciation, Automobiles Accumulated Depreciation, Boats Accumulated Depreciation, Building Revenues Accumulated Depreciation, Equipment Expenses Accumulated Depreciation, Furniture Equity Other Accumulated Depreciation, Land Improvements Accumulated Depreciation, Machinery Accumulated Depreciation, Trucks Advertising Expense Boats Bonds Payable Building Cash Commissions Earned Computers Consulting Revenue Earned Choose an Account or Heading Categories:Accounts and Headings: All Assets Liabilities Equity Equity Copyright Depreciation Expense, Automobiles Depreciation Expense, Boats Depreciation Expense, Building Depreciation Expense, Equipment Revenues Depreciation Expense, Furniture Expenses Depreciation Expense, Machinery Other Depreciation Expense, Trucks Dividends Equipment Food and Drinks Expense Furniture Income Summary Insurance Expense Interest Earned Interest Expense Interest Payable Interest Receivable Choose an Account or Heading Categories:Accounts and Headings: All Investment in Bonds Land Long-Term Notes Payable Long-term Investment in Shares Assets Liabilities Land Improvements Equity Equity Revenues Expenses Other Notes Receivable Machinery Mortgage Payable Office Supplies Expense Patents Prepaid Advertising Prepaid Insurance Prepaid Interest Prepaid Rent Property Taxes Expense Property Taxes Payable Rent Earned Rent Expense Rent Receivable Repair Expense Retained Earnings Salaries Expense Salaries Payable Share Capital Short-Term Notes Payable Supplies Supplies Expense Trademark Trucks Unearned Consulting Revenue Unearned Rent Utilities Expense