The information provided in this test allows you to set up all ledgers for an Ontario company named ASSINIBOINE specializes in sales of large purebred and pedigreed dogs. In addition, they sell cages or dog houses, and high quality pet food. Some of the pet food is purchased from a supplier in the United States. The manager of the store provides some basic dog grooming services while the assistant works mostly in store sales and caring for the animals that are for sale. Two divisionssales and servicesare set up to allocate expenses and revenues. All ledgers are used.

Not all steps will carry marks, but each step is important to enable you to complete Project 2, which also serves as the base for completing Project 3.

All reports have to be printed in the format of Excel 2007.

1. Using Sage 50, form a new company file using the following information:

Company Name: ASSINIBOINE

Address: 460 Woof St.

Kenora, Ontario, N9L 4B6

Phone: (519) 523-1918 Fax: (519) 525-8819

Fiscal start: 04-01-2025

Earliest transaction date: 04-01-2025

Fiscal end: 06-30-2025

Email: a..e@shaw.ca Web site: www.ASSINIBOINE.ca

Select: form a new company

Select: Let me build the list of accounts myself after the company is created

Industry: Retail

1. Select: I will update my tax information myself.
2. Store company files in a new folder named ASSINIBOINE and use ASSINIBOINE as the file name.
3. Change the default settings if necessary to include the following:

User Preferences

- Options Use Accounting Terms

Automatically save changes to suppliers, customers & other records

Show list buttons

- View Turn off Checklists and Daily Business Manager at startup

and after changing session date

Show Change Session Date at startup

- Transaction Turn on Confirmation Message Box

Company Settings:

- Information Business No: 388 123 909

- System Do not allow transactions dated before 04-01-2025

Allow transactions in future

- Backup Backup frequency: Weekly; turn off automatic backups

- Features All features used

- Forms Next Sales Invoice number 1121

Next Sales Quote number 45

Next Receipts number 1522

Next Customer Deposits number 36

Next Purchase Order number 1001

Next Direct Deposit Stubs- Employee number 34

Allow printing in batches for all forms

- Date Format MM-DD-YYYY; Use long date format on the screen and in reports

1. Create accounts to match the following Chart of Account:

Account types are shown in brackets beside the account.

(A) = Subgroup (S) = Subgroup total (H) = Heading(T) = Total (X) = Current Earnings

All other accounts (unmarked) are Group accounts.

Allow division allocations for all revenue and expense accounts

Edit the current earnings account

ASSINIBOINE Chart of Accounts

1000 CURRENT ASSETS (H)

1050Test Balance

1060 Undeposited Cash & Cheques

1080 Bank: CAD Chequing

1090 Bank: USD Chequing

1100 Bank: Credit Card

1200 Accounts Receivable

1240 Advances Receivable

1260 Purchase Prepayments

1280 Food Supplies

1300 Other Supplies

1390 TOTAL CURRENT ASSETS (T)

1400 INVENTORY (H)

1420 Purebred Dogs

1440 Dog Food

1460 Dog Houses

1490 TOTAL INVENTORY (T)

1500 PLANT & EQUIPMENT (H)

1550 Computer/Cash Register

1580 Store Fixtures and Cages

1590 TOTAL PLANT & EQUIPMENT (T)

2000 CURRENT LIABILITIES (H)

2100 Bank Loan

2150 Credit Card Payable

2200 Accounts Payable

2250 Prepaid Sales and Deposits

2300 Vacation Payable

2310 EI Payable (A)

2320 CPP Payable (A)

2330 Income Tax Payable (A)

2340 Receiver General Payable (S)

2400 RRSP Payable

2420 Medical-MSP Payable

2460 WSIB Payable

2650 HST Charged on Sales (A)

2670 HST Paid on Purchases (A)

2750 HST Owing (Refund) (S)

2900 TOTAL CURRENT LIABILITIES (T)

3000 EQUITY (H)

3560 H.Poodle, Capital

3600 Net Income (X)

3690 TOTAL EQUITY (T)

4000 REVENUE (H)

4020 Revenue from Sales

4050 Revenue from Services

4100 Sales Discounts

4200 Freight Revenue

4390 TOTAL REVENUE (T)

5000 EXPENSES (H)

5010 Bank & Credit Card Fees

5015 Exchange Rate Differences

5020 Cleaning and Maintenance

5030 Adjustment Write-Off

5040 Item Assembly Costs

5060 Cost of Goods Sold

5070 Cost of Services

5100 Purchase Discounts

5200 Freight Expense

5220 Dog Food Used

5240 Rent

5260 Utilities

5280 Veterinary Consultation

5300 Wages

5310 EI Expense

5320 CPP Expense

5330 WSIB Expense

5400 Medical-MSP Expense

5420 Car Expenses

5490 TOTAL EXPENSES (T)

Note: Check validity of accounts before proceeding

Print the Chart of Accounts

1. Add account balances from the following Trial Balance:

ASSINIBOINE

Post-Closing Trial Balance: April 1, 2025

1080 Bank: CAD Chequing $24 289

1090 Bank: USD Chequing 860 (CAD) 845 USD

1100 Bank: Credit Card 2 200

1200 Accounts Receivable 1 500

1280 Food Supplies 540

1300 Other Supplies 400

1420 Purebred Dogs 5 200

1440 Dog Food 3 500

1460 Dog Houses 3,600

1550 Computer/Cash Register 6 500

1580 Store Fixtures and Cages 4 500

2150 Credit Card Payable $ 1 200

2200 Accounts Payable 3 800

2310 EI Payable 81

2320 CPP Payable 217

2330 Income Tax Payable 661

3560 H. Poodle, Capital ______ 47 130

$53 089 $53 089

Print the Trial Balance

1. Add foreign currency. Allow transactions with United States suppliers in US dollars.

Use account 5015 to track exchange rate differences.

Enter 1.02 as the exchange rate for April 1, 2025. Display the reminder if the rate is one day old.

1. Edit the Account Classes.

Undeposited Cash & Cheques. Change the account class to Cash.

CAD Chequing account. Change the account class to Bank.

Enter 501 as the next cheque number and 14 as next deposit No.

USD Chequing account.Change the account class to Bank and enter 1023 as the next cheque number.

Change the currency to USD and enter $845 as the USD balance.

Bank: Credit Card. Change the account class to Bank.

Accounts Receivable. Change the account class to Accounts Receivable

Inventory Accounts: Change the account class to Inventory

Credit Card Payable. Change the account class to Credit Card Payable.

Accounts Payable. Change the account class to Accounts Payable

Expense accounts: Change the account class to Expense for all Expense Group accounts.

1. Set up credit cards as follows:

Cards Accepted: Credit Card Name: Shop More

Currency: CAD

Linked Asset Account: 1100

Discount Fee: 3.5%

Linked Expense Account: 5010

Cards Used: Credit Card Name: Shop More

Linked Payable Account: 2150

Linked Expense Account: 5010

1. Enter Sales Taxes and Tax Codes

Tax - HST: Not Exempt, Not Taxable, Use 2670 to track tax paid on purchases

Use 2650 to track taxes charged on sales, Report on taxes

Code - H: Tax HST, Taxable, Rate 13%, Not included, Refundable

Code - HI: Tax HST, Taxable, Rate 13%, Included, Refundable

1. Enter the ledger settings.

Leave unused linked accounts blank. Allow account classes to change.

General: Linked Accounts Retained Earnings 3560

Net Income 3600

Payables Settings: Address Kenora, Ontario, Canada

- Linked Accounts Principal Bank Account for CAD 1080

Principal Bank Account for USD 1090

Accounts Payable 2200

Freight Expense 5200

Early Payment Purchase Discount 5100

Prepayments and Prepaid Orders 1260

Receivable Settings: Address Kenora, Ontario, Canada

- Options Aging periods: 10, 30 and 45 days

No interest charges on overdue accounts

Include invoices paid in last 31 days

Default tax code for new customers is H

- Discount Payment terms: 2% after tax discount in 10 days; net 30 days

Line discounts are not used

- Comments On Sales Invoices: Thank you.

- Linked Accounts Principal Bank Account for CAD 1060

Principal Bank Account for USD 1090

Accounts Receivable 1200

Default Revenue Leave blank

Freight Revenue 4200

Early Payment Sales Discount 4100

Deposits and Prepaid Orders 2250

Employee & Payroll Settings:

Names - Income & Deductions Income 1: Salary

Income 2: Commission

Income 3: No. Dogs

Income 4: Car Expense

Delete other Income names

Deduction 1: RRSP

Delete other Deduction names using Incomes set up tool

Names - Additional Payroll Worker's Comp: WSIB

User Defined Expense 2: Medical-MSP (this is an employee benefit)

Delete other User-Defined Expense names

Entitlement 1: Vacation

Entitlement 2: Sick Leave

Delete other Entitlement names

Incomes Overtime 1: (Type - Hourly rate)

Calculate tax, EI, Insurable Hours, CPP and vacation

Salary: (Type - Income)

Calculate tax, EI, Insurable Hours and CPP

Commission: Type - Income

Calculate tax, EI and CPP

No. Dogs: (Type - Piece Rate; Unit of measure - Number)

Calculate tax, EI, CPP and vacation

Car Expense: (Type - Reimbursement) No taxes apply

Deductions RRSP by amount after calculating tax , EI, CPP and vacation

Taxes: EI factor is 1.4

WSIB rate is 2.54 (for existing and new employees)

Entitlements Vacation: Track - 8%; Maximum - 25 days; Do not clear at Year-end

Sick Leave: Track - 2.5%; Maximum - 10 days; Clear at Year-end

Linked Accounts - Incomes Bank 1080

Vacation Owed 2300

Advances & Loans 1240

Use 5300 for Vacation Earned, Regular, Overtime 1, Salary, Commission and No. Dogs

Use 5420 for Car Expense

- Deductions RSP 2400

- Taxes: EI (Payable) 2310

CPP (Payable) 2320

Tax (Payable) 2330

WSIB (Payable) 2460

EI (Expense) 5310

CPP (Expense) 5320

WSIB (Expense) 5330

- User-defined Expenses: Payable- 2420 Medical-MSP

Expense -5400 Medical-MSP

Inventory Settings:

- Options Inventory Costing Method: Average costing method

Sort by description

Profit evaluation by markup

Do not allow inventory to drop below zero.

- Linked Accounts Item Assembly Costs 5040

Adjustment Write-off 5030

Division Settings: Allocate payroll transactions by percentage

Warn if allocation is not complete

Allow access to Allocate field using Tab key

Please refer to the chapter about Division settings in Sage 50 textbook

1. Create the following supplier accounts with historical information:

Name (Contact), Address Phone/Fax Options, Tax, Account

Hound Krumble Belinda Munch) Tel: (716) 492-2826 Terms: 2/15, n/30 (after tax)

88 Ben Cres., Ithica, New York, USA 14209 Fax: (716) 492-6418 Tax Code: H

Currency: USD

Web site: www.krumble.com/dogs Supplier Since 04/01/2018

Pethome PLACE (Bev Meow) Tel: (519)774-9017 Tax Code: H

Tax ID: 533 766 457 RT0001 Fax:(519)774-9977

E-mail: h..e@php.com Supplier Since 03/01/02017

Pets Veterinarian Services (MaryTimber) Tel: (519) 526-1971 Terms: 2/5, n/15 (after tax)

33 Lab St., Kenora ON N9R 2V7 Tax Code: H

Tax ID: 533 766 457 RT0001 Expense Account:

E-mail: m..r@pvs.com 5280 Veterinary Consultation Supplier Since 02/04/2017

Historical Supplier Invoices and Payments

Name Terms Date Invoice/Chq Amount

Hound Krumble 2/15, n/30 after tax Mar 15/25 HK-402 $290 USD

(300) CAD

Pethome Place 1/10, n/30 (after tax) Mar 25/25 PP-6621 $5 500

Mar 28/25 Chq 488 -3 000

Mar 30/25 PP-6808 1 000

Balance owing $3 500

Grand Total $3 800

Print the Supplier Aged Detail Report. Include terms. (Correct entries: 20 marks)

1. Create the following customer accounts and add the historical information:

The credit limit for all customers is $5 000.The terms for all customers are 2/10, n/30 after tax.

The tax code for all customers is H. If information is not provided, leave fields blank.

Name (Contact), Address Phone/Fax

Nicole Rush Tel: (519) 762-7612

55 Wiggy Tale., Kenora, ON N8P 7D3

Pet Shows (Bob Swallow) Tel: (519) 592-1009

Preferred Price List Fax: (519) 592-1999

110 Torrent St., Kenora, ON N9C 9A1 Customer Since 03/01/2017

Web site: www.petshows.com

Historical Customer Invoices and Payments

Name Terms Date Invoice/Chq Amount

Nicole Rush 2/10, n/30 Mar 28/25 1104 $2 500

Mar 29/25 Chq 32 -1 000

Balance owing $1 500

Print the Customer Aged Detail Report. Include terms. (Correct entries: 20 marks)

1. Enter the following employee information: Use the linked payroll accounts.

Personal Elaine Siamese Bill Collie

Address 345 Bunny Cres. 29 Square Dr.

Kenora, ON N8E 4C9 Kenora, ON N9F 2D4

(519) 459-2217 (519) 388-7218

SIN# 468 321 765 532 719 721

Birth Date Jan. 30, 1980 June 6, 1989

Date of Hire Jan. 1, 2010 April 1, 2025

Taxes

Tax Table Ontario Ontario

Federal Claim $13,229 $13,229

Provincial Claim $10,783 $10,783

Federal claim subject to indexing $13,229 $ 13,229

Provincial claim subject to indexing $10,783 $ 10,783

Deduct EI (Factor) Yes (1.4) Yes (1.4)

Deduct CPP Yes Yes

Historical Income Tax $1 981.36

Historical EI Premiums $241.18

Historical CPP Contributions $651.04

Income

Benefits (medical-MSP plan) $13.50 $6.58

Historical benefits $81

Vacation Rate (0%) 4 weeks 6% retained

Salary $2 250 semi-monthly (do not use)

Historical salary $13 500

Regular Wage (do not use) $16/hr Regular

Overtime wage (do not use) $24/hr Overtime

Hours per period 80 (Salary hours) 35 (Regular hours)

Commission 1% of all sales (do not use)

Commission historical amount $440

No. Dogs do not use $7

Car Expense historical amount $240

Pay Periods per Year 24 52

Deductions

RSP deduction per pay $50 $20

Historical RRSP Contributions $300

WSIB and Other Expenses

WSIB rate 2.54% 2.54%

Medical-MSP per pay $13.50 $6.58

Historical Medical-MSP $81

Entitlements (entitlements are not cleared at year-end)

Vacation 8%, 25 days maximum 0

Historical Vacation days 20 do not clear 0

Sick Leave 2.5%, 10 days max, clear 2.5%, 10 days max, clear

Historical Sick Leave days 4 0

Direct Deposit Yes Yes

Branch No. 44588 59001

Institution No. 204 302

Account Number 610092 100873

Percentage deposited to this account 100% 100%

T4 and RL-1 Reporting

Historical EI Insurable Earnings$13 940

Historical Pensionable Earnings$14 021

Print the Employee Summary Report for both employees. (Correct entries: 20 marks)

1. Set up a payroll authority.

Create a new supplier record for the Receiver General for Canada as the payroll authority for Income Tax, EI and CPP.

Leave the remaining supplier record fields blank.

Settings- Payroll: Remittance and suppliers - Receiver General for Canada

Remitting frequency - Monthly

End of remittance period - April 15, 2025

1. Set up job categories.

Create two job categories named Sales and Other.

Persons in the Sales category are salespersons. Assign the employee Elaine Siamese to the Sales category.

Persons in the Other category are not salespersons. Assign the employee Bill Collie to the Other category.

Select Siamese as the Salesperson for all sales.

1. Create the following inventory accounts:

Allow account classes to change.

There is no year-to-date information (No Statistics).

Foreign prices (in USD) are not required.

Variance accounts will not be required. Leave the variance account field blank.

Taxes: HST is charged on inventory and service items.

Inventory Items Reg (Pref) Opening Linked Accounts

Description No. Unit Min Price (Price) Qty Value Asset RevC.O.G.S.

Labradoodle 101 Each 0 $1 750 ($1 500) 4 $1 900 14204020 5060

Collie 102 Each 0 1 600(1 450) 4 1 600 14204020 5060

Bernese 103 Each 0 1 150 (1 000) 4 1 700 14204020 5060

Mature Dog Chow 201 10kg 5 $45 ($40) 30 $ 630 14404020 5060

Puppy Chow 202 5kg 10 20 (15) 100 770 14404020 5060

Regular Chow 203 10kg 10 28 (25) 200 2 100 14404020 5060

Steel Wire Cage 301 Each 1 $260 ($220) 10 $1 050 14604020 5060

Wooden Dog House Kit 302 Each 1 560 (470) 10 2 550 14604020 5060

Services

Reg (Pref) Linked Accounts

Description No. Unit Price(Price) Tax Exempt Rev Expense

Clipping - large dog 401 Each $100($90) HST No 4050 5070

Clipping - small dog 402 Each 50 (45) HST No 4050 5070

House Assembly 403 Each 100 (90) HST No 4050 5070

Shampooing 404 Each 28 (24) HST No 4050 5070

Note: Web Price is the same as regular price.

Print the Inventory List and the Inventory Summary Report. (20 marks)The information provided in this test allows you to set up all ledgers for an Ontario company named ASSINIBOINE specializes in sales of large purebred and pedigreed dogs. In addition, they sell cages or dog houses, and high quality pet food. Some of the pet food is purchased from a supplier in the United States. The manager of the store provides some basic dog grooming services while the assistant works mostly in store sales and caring for the animals that are for sale. Two divisionssales and servicesare set up to allocate expenses and revenues. All ledgers are used.

Not all steps will carry marks, but each step is important to enable you to complete Project 2, which also serves as the base for completing Project 3.

All reports have to be printed in the format of Excel 2007.

1. Using Sage 50, create a new company file using the following information:

Company Name: ASSINIBOINE

Address: 460 Woof St.

Kenora, Ontario, N9L 4B6

Phone: (519) 523-1918 Fax: (519) 525-8819

Fiscal start: 04-01-2025

Earliest transaction date: 04-01-2025

Fiscal end: 06-30-2025

Email: a..e@shaw.ca Web site: www.ASSINIBOINE.ca

Select: Create a new company

Select: Let me build the list of accounts myself after the company is created

Industry: Retail

1. Select: I will update my tax information myself.
2. Store company files in a new folder named ASSINIBOINE and use ASSINIBOINE as the file name.
3. Change the default settings if necessary to include the following:

User Preferences

- Options Use Accounting Terms

Automatically save changes to suppliers, customers & other records

Show list buttons

- View Turn off Checklists and Daily Business Manager at startup

and after changing session date

Show Change Session Date at startup

- Transaction Turn on Confirmation Message Box

Company Settings:

- Information Business No: 388 123 909

- System Do not allow transactions dated before 04-01-2025

Allow transactions in future

- Backup Backup frequency: Weekly; turn off automatic backups

- Features All features used

- Forms Next Sales Invoice number 1121

Next Sales Quote number 45

Next Receipts number 1522

Next Customer Deposits number 36

Next Purchase Order number 1001

Next Direct Deposit Stubs- Employee number 34

Allow printing in batches for all forms

- Date Format MM-DD-YYYY; Use long date format on the screen and in reports

1. Create accounts to match the following Chart of Account:

Account types are shown in brackets beside the account.

(A) = Subgroup (S) = Subgroup total (H) = Heading(T) = Total (X) = Current Earnings

All other accounts (unmarked) are Group accounts.

Allow division allocations for all revenue and expense accounts

Edit the current earnings account

ASSINIBOINE Chart of Accounts

1000 CURRENT ASSETS (H)

1050Test Balance

1060 Undeposited Cash & Cheques

1080 Bank: CAD Chequing

1090 Bank: USD Chequing

1100 Bank: Credit Card

1200 Accounts Receivable

1240 Advances Receivable

1260 Purchase Prepayments

1280 Food Supplies

1300 Other Supplies

1390 TOTAL CURRENT ASSETS (T)

1400 INVENTORY (H)

1420 Purebred Dogs

1440 Dog Food

1460 Dog Houses

1490 TOTAL INVENTORY (T)

1500 PLANT & EQUIPMENT (H)

1550 Computer/Cash Register

1580 Store Fixtures and Cages

1590 TOTAL PLANT & EQUIPMENT (T)

2000 CURRENT LIABILITIES (H)

2100 Bank Loan

2150 Credit Card Payable

2200 Accounts Payable

2250 Prepaid Sales and Deposits

2300 Vacation Payable

2310 EI Payable (A)

2320 CPP Payable (A)

2330 Income Tax Payable (A)

2340 Receiver General Payable (S)

2400 RRSP Payable

2420 Medical-MSP Payable

2460 WSIB Payable

2650 HST Charged on Sales (A)

2670 HST Paid on Purchases (A)

2750 HST Owing (Refund) (S)

2900 TOTAL CURRENT LIABILITIES (T)

3000 EQUITY (H)

3560 H.Poodle, Capital

3600 Net Income (X)

3690 TOTAL EQUITY (T)

4000 REVENUE (H)

4020 Revenue from Sales

4050 Revenue from Services

4100 Sales Discounts

4200 Freight Revenue

4390 TOTAL REVENUE (T)

5000 EXPENSES (H)

5010 Bank & Credit Card Fees

5015 Exchange Rate Differences

5020 Cleaning and Maintenance

5030 Adjustment Write-Off

5040 Item Assembly Costs

5060 Cost of Goods Sold

5070 Cost of Services

5100 Purchase Discounts

5200 Freight Expense

5220 Dog Food Used

5240 Rent

5260 Utilities

5280 Veterinary Consultation

5300 Wages

5310 EI Expense

5320 CPP Expense

5330 WSIB Expense

5400 Medical-MSP Expense

5420 Car Expenses

5490 TOTAL EXPENSES (T)

Note: Check validity of accounts before proceeding

Print the Chart of Accounts

1. Add account balances from the following Trial Balance:

ASSINIBOINE

Post-Closing Trial Balance: April 1, 2025

1080 Bank: CAD Chequing $24 289

1090 Bank: USD Chequing 860 (CAD) 845 USD

1100 Bank: Credit Card 2 200

1200 Accounts Receivable 1 500

1280 Food Supplies 540

1300 Other Supplies 400

1420 Purebred Dogs 5 200

1440 Dog Food 3 500

1460 Dog Houses 3,600

1550 Computer/Cash Register 6 500

1580 Store Fixtures and Cages 4 500

2150 Credit Card Payable $ 1 200

2200 Accounts Payable 3 800

2310 EI Payable 81

2320 CPP Payable 217

2330 Income Tax Payable 661

3560 H. Poodle, Capital ______ 47 130

$53 089 $53 089

Print the Trial Balance

1. Add foreign currency. Allow transactions with United States suppliers in US dollars.

Use account 5015 to track exchange rate differences.

Enter 1.02 as the exchange rate for April 1, 2025. Display the reminder if the rate is one day old.

1. Edit the Account Classes.

Undeposited Cash & Cheques. Change the account class to Cash.

CAD Chequing account. Change the account class to Bank.

Enter 501 as the next cheque number and 14 as next deposit No.

USD Chequing account.Change the account class to Bank and enter 1023 as the next cheque number.

Change the currency to USD and enter $845 as the USD balance.

Bank: Credit Card. Change the account class to Bank.

Accounts Receivable. Change the account class to Accounts Receivable

Inventory Accounts: Change the account class to Inventory

Credit Card Payable. Change the account class to Credit Card Payable.

Accounts Payable. Change the account class to Accounts Payable

Expense accounts: Change the account class to Expense for all Expense Group accounts.

1. Set up credit cards as follows:

Cards Accepted: Credit Card Name: Shop More

Currency: CAD

Linked Asset Account: 1100

Discount Fee: 3.5%

Linked Expense Account: 5010

Cards Used: Credit Card Name: Shop More

Linked Payable Account: 2150

Linked Expense Account: 5010

1. Enter Sales Taxes and Tax Codes

Tax - HST: Not Exempt, Not Taxable, Use 2670 to track tax paid on purchases

Use 2650 to track taxes charged on sales, Report on taxes

Code - H: Tax HST, Taxable, Rate 13%, Not included, Refundable

Code - HI: Tax HST, Taxable, Rate 13%, Included, Refundable

1. Enter the ledger settings.

Leave unused linked accounts blank. Allow account classes to change.

General: Linked Accounts Retained Earnings 3560

Net Income 3600

Payables Settings: Address Kenora, Ontario, Canada

- Linked Accounts Principal Bank Account for CAD 1080

Principal Bank Account for USD 1090

Accounts Payable 2200

Freight Expense 5200

Early Payment Purchase Discount 5100

Prepayments and Prepaid Orders 1260

Receivable Settings: Address Kenora, Ontario, Canada

- Options Aging periods: 10, 30 and 45 days

No interest charges on overdue accounts

Include invoices paid in last 31 days

Default tax code for new customers is H

- Discount Payment terms: 2% after tax discount in 10 days; net 30 days

Line discounts are not used

- Comments On Sales Invoices: Thank you.

- Linked Accounts Principal Bank Account for CAD 1060

Principal Bank Account for USD 1090

Accounts Receivable 1200

Default Revenue Leave blank

Freight Revenue 4200

Early Payment Sales Discount 4100

Deposits and Prepaid Orders 2250

Employee & Payroll Settings:

Names - Income & Deductions Income 1: Salary

Income 2: Commission

Income 3: No. Dogs

Income 4: Car Expense

Delete other Income names

Deduction 1: RRSP

Delete other Deduction names using Incomes set up tool

Names - Additional Payroll Worker's Comp: WSIB

User Defined Expense 2: Medical-MSP (this is an employee benefit)

Delete other User-Defined Expense names

Entitlement 1: Vacation

Entitlement 2: Sick Leave

Delete other Entitlement names

Incomes Overtime 1: (Type - Hourly rate)

Calculate tax, EI, Insurable Hours, CPP and vacation

Salary: (Type - Income)

Calculate tax, EI, Insurable Hours and CPP

Commission: Type - Income

Calculate tax, EI and CPP

No. Dogs: (Type - Piece Rate; Unit of measure - Number)

Calculate tax, EI, CPP and vacation

Car Expense: (Type - Reimbursement) No taxes apply

Deductions RRSP by amount after calculating tax , EI, CPP and vacation

Taxes: EI factor is 1.4

WSIB rate is 2.54 (for existing and new employees)

Entitlements Vacation: Track - 8%; Maximum - 25 days; Do not clear at Year-end

Sick Leave: Track - 2.5%; Maximum - 10 days; Clear at Year-end

Linked Accounts - Incomes Bank 1080

Vacation Owed 2300

Advances & Loans 1240

Use 5300 for Vacation Earned, Regular, Overtime 1, Salary, Commission and No. Dogs

Use 5420 for Car Expense

- Deductions RSP 2400

- Taxes: EI (Payable) 2310

CPP (Payable) 2320

Tax (Payable) 2330

WSIB (Payable) 2460

EI (Expense) 5310

CPP (Expense) 5320

WSIB (Expense) 5330

- User-defined Expenses: Payable- 2420 Medical-MSP

Expense -5400 Medical-MSP

Inventory Settings:

- Options Inventory Costing Method: Average costing method

Sort by description

Profit evaluation by markup

Do not allow inventory to drop below zero.

- Linked Accounts Item Assembly Costs 5040

Adjustment Write-off 5030

Division Settings: Allocate payroll transactions by percentage

Warn if allocation is not complete

Allow access to Allocate field using Tab key

Please refer to the chapter about Division settings in Sage 50 textbook

1. Create the following supplier accounts with historical information:

Name (Contact), Address Phone/Fax Options, Tax, Account

Hound Krumble Belinda Munch) Tel: (716) 492-2826 Terms: 2/15, n/30 (after tax)

88 Ben Cres., Ithica, New York, USA 14209 Fax: (716) 492-6418 Tax Code: H

Currency: USD

Web site: www.krumble.com/dogs Supplier Since 04/01/2018

Pethome PLACE (Bev Meow) Tel: (519)774-9017 Tax Code: H

Tax ID: 533 766 457 RT0001 Fax:(519)774-9977

E-mail: h..e@php.com Supplier Since 03/01/02017

Pets Veterinarian Services (MaryTimber) Tel: (519) 526-1971 Terms: 2/5, n/15 (after tax)

33 Lab St., Kenora ON N9R 2V7 Tax Code: H

Tax ID: 533 766 457 RT0001 Expense Account:

E-mail: m..r@pvs.com 5280 Veterinary Consultation Supplier Since 02/04/2017

Historical Supplier Invoices and Payments

Name Terms Date Invoice/Chq Amount

Hound Krumble 2/15, n/30 after tax Mar 15/25 HK-402 $290 USD

(300) CAD

Pethome Place 1/10, n/30 (after tax) Mar 25/25 PP-6621 $5 500

Mar 28/25 Chq 488 -3 000

Mar 30/25 PP-6808 1 000

Balance owing $3 500

Grand Total $3 800

Print the Supplier Aged Detail Report. Include terms. (Correct entries: 20 marks)

1. Create the following customer accounts and add the historical information:

The credit limit for all customers is $5 000.The terms for all customers are 2/10, n/30 after tax.

The tax code for all customers is H. If information is not provided, leave fields blank.

Name (Contact), Address Phone/Fax

Nicole Rush Tel: (519) 762-7612

55 Wiggy Tale., Kenora, ON N8P 7D3

Pet Shows (Bob Swallow) Tel: (519) 592-1009

Preferred Price List Fax: (519) 592-1999

110 Torrent St., Kenora, ON N9C 9A1 Customer Since 03/01/2017

Web site: www.petshows.com

Historical Customer Invoices and Payments

Name Terms Date Invoice/Chq Amount

Nicole Rush 2/10, n/30 Mar 28/25 1104 $2 500

Mar 29/25 Chq 32 -1 000

Balance owing $1 500

Print the Customer Aged Detail Report. Include terms. (Correct entries: 20 marks)

1. Enter the following employee information: Use the linked payroll accounts.

Personal Elaine Siamese Bill Collie

Address 345 Bunny Cres. 29 Square Dr.

Kenora, ON N8E 4C9 Kenora, ON N9F 2D4

(519) 459-2217 (519) 388-7218

SIN# 468 321 765 532 719 721

Birth Date Jan. 30, 1980 June 6, 1989

Date of Hire Jan. 1, 2010 April 1, 2025

Taxes

Tax Table Ontario Ontario

Federal Claim $13,229 $13,229

Provincial Claim $10,783 $10,783

Federal claim subject to indexing $13,229 $ 13,229

Provincial claim subject to indexing $10,783 $ 10,783

Deduct EI (Factor) Yes (1.4) Yes (1.4)

Deduct CPP Yes Yes

Historical Income Tax $1 981.36

Historical EI Premiums $241.18

Historical CPP Contributions $651.04

Income

Benefits (medical-MSP plan) $13.50 $6.58

Historical benefits $81

Vacation Rate (0%) 4 weeks 6% retained

Salary $2 250 semi-monthly (do not use)

Historical salary $13 500

Regular Wage (do not use) $16/hr Regular

Overtime wage (do not use) $24/hr Overtime

Hours per period 80 (Salary hours) 35 (Regular hours)

Commission 1% of all sales (do not use)

Commission historical amount $440

No. Dogs do not use $7

Car Expense historical amount $240

Pay Periods per Year 24 52

Deductions

RSP deduction per pay $50 $20

Historical RRSP Contributions $300

WSIB and Other Expenses

WSIB rate 2.54% 2.54%

Medical-MSP per pay $13.50 $6.58

Historical Medical-MSP $81

Entitlements (entitlements are not cleared at year-end)

Vacation 8%, 25 days maximum 0

Historical Vacation days 20 do not clear 0

Sick Leave 2.5%, 10 days max, clear 2.5%, 10 days max, clear

Historical Sick Leave days 4 0

Direct Deposit Yes Yes

Branch No. 44588 59001

Institution No. 204 302

Account Number 610092 100873

Percentage deposited to this account 100% 100%

T4 and RL-1 Reporting

Historical EI Insurable Earnings$13 940

Historical Pensionable Earnings$14 021

Print the Employee Summary Report for both employees. (Correct entries: 20 marks)

1. Set up a payroll authority.

Create a new supplier record for the Receiver General for Canada as the payroll authority for Income Tax, EI and CPP.

Leave the remaining supplier record fields blank.

Settings- Payroll: Remittance and suppliers - Receiver General for Canada

Remitting frequency - Monthly

End of remittance period - April 15, 2025

1. Set up job categories.

Create two job categories named Sales and Other.

Persons in the Sales category are salespersons. Assign the employee Elaine Siamese to the Sales category.

Persons in the Other category are not salespersons. Assign the employee Bill Collie to the Other category.

Select Siamese as the Salesperson for all sales.

1. Create the following inventory accounts:

Allow account classes to change.

There is no year-to-date information (No Statistics).

Foreign prices (in USD) are not required.

Variance accounts will not be required. Leave the variance account field blank.

Taxes: HST is charged on inventory and service items.

Inventory Items Reg (Pref) Opening Linked Accounts

Description No. Unit Min Price (Price) Qty Value Asset RevC.O.G.S.

Labradoodle 101 Each 0 $1 750 ($1 500) 4 $1 900 14204020 5060

Collie 102 Each 0 1 600(1 450) 4 1 600 14204020 5060

Bernese 103 Each 0 1 150 (1 000) 4 1 700 14204020 5060

Mature Dog Chow 201 10kg 5 $45 ($40) 30 $ 630 14404020 5060

Puppy Chow 202 5kg 10 20 (15) 100 770 14404020 5060

Regular Chow 203 10kg 10 28 (25) 200 2 100 14404020 5060

Steel Wire Cage 301 Each 1 $260 ($220) 10 $1 050 14604020 5060

Wooden Dog House Kit 302 Each 1 560 (470) 10 2 550 14604020 5060

Services

Reg (Pref) Linked Accounts

Description No. Unit Price(Price) Tax Exempt Rev Expense

Clipping - large dog 401 Each $100($90) HST No 4050 5070

Clipping - small dog 402 Each 50 (45) HST No 4050 5070

House Assembly 403 Each 100 (90) HST No 4050 5070

Shampooing 404 Each 28 (24) HST No 4050 5070

Note: Web Price is the same as regular price.

Print the Inventory List and the Inventory Summary Report. (20 marks)