the last digit of the student number is 6

Some invoices, payments and taxes will require you to use a part of your student number. For example: the owner contributes to the company 300 times the last digit of your student number in a piees of equipment or has sales of SI,N00. If your student number is 123894567 , the owner's contribution is $2,100 ( $300 times 7=$2,100) and the sales is $1,700 where the last digit of your student number replaces the X in S1,X00, students with 0 as the last digit must use 4 as the last digit for all transactions. Required: Prepare the accounting records for The Science Bunch Note: this task is based on the analysis of very extensive narrative and detailed project documents. The next pages have all the documents that Sally brought to you in a shocbox so you can prepare the financial statements of her company (use 2 decimal places, if necded round up the figures to the next cent). Students with the last digit being (zero), must use 4 as if it were the last digit for all transactions in this Part II of the term project. STEP 1: Prepare the Financial Statements by doing the following: 1. Check and use the Chart of Accounts provided (do not create new accounts), 2. Prepare the bank and cash reconciliation for September 30t2022 3. Prepare the General Joumal for the month of September (all journal entries including AE). Prepare Closing Entries for the month of September to continues seriod. 5. Prepare the Financial Staternents in good form for the contingency disclosures that are exclusive of the transactions of this case (do not include general notes). Prepare an Income Statement, a Statement of Owners Equity (Retained Eamings), required. STEP 2: Analyze the financial statements and answer the following questions: 1. Make one clear suggestions of how the business can improve its net income? 2. With the data of the financial statements that you have completed, is the business sustainable? Explain. STEP 3: Do the assignments (eClass Quiz) where you type (fill in the blanks) the amounts reported in the financial statements, provide answers to step 2 questions and upload a file with only the specific document required (bank and cash reconciliation, general journal of September, T-accounts as of September 30th. Income Statement of September, or Statement of Financial Position as of September 30th). Note: keep the working papers and other documentation of the work you have done to complete this part of the term project in case your professor asks. To protect the academie integrity of programs, courses and assignments, professons rely on comparing students' working papers or draft work. The documents can be requested at any point during the term, so keep them organized. The Science Bunch Service Ltd. Statement of Retained Earnings The Science Bunch Service Ltd. Financial Statements: The Science Bunch Sonvirs Ltd For services rendered in connection with the incorporation of The Science Bunch Service Lid. including but not limited to: - Filing application for articles of incorporation as a Canada Business Corporation. - Securing tradermark protection on the name The Science Bunch - Filing necessary documents with the Canadian Registrar of Companies - Filing appropriate documents as required under the Ontario Diroctors' Act to name corporate directors - Registering the Internet domain name (www.thesciencebunch.ca) - Various legal advice on these and other matters The amount of $1,250 The 6 LAW-Barristers \& Solicitors Certified Document To: Dally's selences Services From: Perry Mason Date: July 1T, 202a Re: initial contribution Hereby l certify the following items were agreed and happened with me as a witness: - The Science Bunch Service Ltd. has issuod 900 shares. - Mrs. Sally Thoron contributed the amount of $2,000 in exchange for 200 shares of the company. - The contribution was made in cash and deposited in the banks account of the company. - Mrs. Charleen Thoron contributed the amount of $2,000 in exchange for 200 shares of the company. - The contribution was made 70% in cash and 30% in supplies to be used to provide tho services. The cash contribution was doposited in the bank account of the company Sally Thoron paid to Harpeet Sing the amount of $900 for designing and hosting the fabulous website and app of The Science Bunch. Paid on July 1st2022. This document acts as a receipt to both parties that the service has been delivered in full and paid in full. Salfy Thoron Harpeet Sing Notes: (1) The amount must be equal to 186 times the last digit of your student number (rent) (3) The amount must be equal to $1,X00 where X is the last digit of your student number (equipment) (4) The amount must be cqual to 125 times the last digit of your student number (supplies) (5) The amount must be equal to 70 fimes the last digit of your student number (cleaning schools) (9) The amount must be equal to 1800 times the last digit of your student number is revenue collected in each for senvices provided in September plus 550 times the last digit of your student number is revenue collocted in cash for the sale of merchandise in September phis 450 times the Lst digit of your stodent number is for prepaid revenues (money collected but services not provided yet) received in September plus collected 90% of accounts receivables that were outstanding on Augunt 31", 2022 (11) $X,000 were bomowed from Line of Credit, X is the last digit of your student number (12) The amount must be equal to 20 times the last digit of your student number (bank fee) Sally Thoron representing The Science Bunch Ltd. Agrees to pay Sally Thoron (the individual owner of car used to support the development of commercial activities of The Science Bunch) the sum of (1) for renting the car during the months of September 2032, October 2022 and November 2022. This document acts as a receipt to both parties that the service has been agreed and paid in advance. Sally Thioron YOUR PREMIUM IS DUE AND PAYABLEON EFFECTIVE DATE OF POLICY Coverage is cancelled if not pald in fuil for the 12 morkns by October 152022 (2) The amount must be equal to 160 times the last digit of your student number (insurance) The Science Guy supplies Educational Laboratory scientific supplies and Equipment Paid with Cheque # 19 term5: Payable in cash or certified cheque upon delivery No return accepted without prior written outhorization. All claims must be mode within 5 days following receipt of Goods INVOICE/FACTURE (3) The amount must be equal to $1,X00 where X is the last digit of your student number (cquipment) The Science Guy Supplies Educational Laboratory scientific Supplies and Equipment terms: Payable in cash or certified cheque upon delivery No return occepted without prior written outhorization. All claims must be mode within 5 doys following receipt of Goods INVOICEFFACTURE Supplies paid in full with Cheque #20 Volac of ayppict exilable as? Seplenter 30 (4a) Sippties left owe beftume Septerber 2022 aere all aned 4 daving Septexter (4) The amount must be oqual to 125 times the hast digit of your stadent number (ropplies) (43) The amount mast be cyual to 38 times the lat digit of your stuident number (supplies). Spotless Uleaning services (5) The amount must be cqual to 70 times the last digit of your student number (eleaning schools) Awesome Stuff We hame what you do not need, brit wamt. 105 lakeshore drive Teronto, ON M3ST2T phone 416-878-9532 fax:4108789533 Please make cheque payable to Awesome Stuff 4009 Keele St - Unit 11 Toronto ON M3J 1P3 Valse of ayptios axilible at Septender 30: (6a) (6) The amount must be equal to $28X where X is your last digit of student number (merchandising) (6a) The amount must be equal to 5K5 where X is your last digit of student number (merchandising) INSTAPRINT Blit To: The Science Bunch invoce=invoceDate.TORD230Juy5m,2022 Payment condions: 10% when ordering the rest at time of delivery Please make checue payable to: Paid with O Instaprint, 48 Burgess Ave. Scarborough, ON M7Z 1W9 Desivery: the brochures and posters are ready to pick up on ay 5 th 2022 Mamber of brictares distribated: Ualg: 5 breckiores: Haguest: 8 drectiores Seplember: (7) bruatares (7) The amoent must be equal to X where X is the last digit of your stud ent number (promotion) Sally Thoron representing the company The Science Bunch Ltd. paid to Sally Thoron the amount of $40 per hour of (8) hours of presentations at local schools during the month of September. This document, issued on September 30th, 202. acts as a receipt to both parties that the service has been delivered in full and paid in full. Saffy Tfioron Paid with Cheque # 22 (8) The amount must be equal to 21 times the last digit of your student number (employees) (9) The amount must be cqual to 3900 times the last digit of your student numiter and the annount breaks down as follows: 1800 times the last digit of your student number is tevenue colloctod in eash for servises provided in September 1100 times the last digit of your student number is revenue utill not collocted but services have been provided in Scptember \$50 times the last digit of your student number is revenue collectod in cash for the ale of merchandise in Septeraber 450 times the last digit of your stadent number is for prepaid revenaes (moncy collectod bet icricer not provided yet) received in Septcmber (9a) In September, Sally collected 90% of accounts receivables that ware gubtanding on Awgast 314,2022 (96) In September, Sally provided services to 80 . of prepaid revenoes that were cutitanding on: August 314,2022 To: Sally@emailservices,ca From: Charleen@theaccountant.ca Subject: estimated income tax for September 2022 Date: September 30,2022 11,59pm Sally, The purpose of this e-mail is to inform you that I have estimated your income tax liability for the operations of the month of September to be (10). Please prepare the cheque and due date of payment is October 15,2022 . Please note that August's income tax payment cheque (CHQ# 16) was mailed and received by CRA on September 10, 2022. The Accountant (10) The amount must be equal to 193 times the last digit of your student number (income tax) your communication partner Account Summary for Sally Thoron September 30, 2022 Pre-paid Account $300 deposit received on July 1, 2022 Current charges (for September usage) Sample General Journal (assuming the last digit of your student number is 1) 22 Some invoices, payments and taxes will require you to use a part of your student number. For example: the owner contributes to the company 300 times the last digit of your student number in a piees of equipment or has sales of SI,N00. If your student number is 123894567 , the owner's contribution is $2,100 ( $300 times 7=$2,100) and the sales is $1,700 where the last digit of your student number replaces the X in S1,X00, students with 0 as the last digit must use 4 as the last digit for all transactions. Required: Prepare the accounting records for The Science Bunch Note: this task is based on the analysis of very extensive narrative and detailed project documents. The next pages have all the documents that Sally brought to you in a shocbox so you can prepare the financial statements of her company (use 2 decimal places, if necded round up the figures to the next cent). Students with the last digit being (zero), must use 4 as if it were the last digit for all transactions in this Part II of the term project. STEP 1: Prepare the Financial Statements by doing the following: 1. Check and use the Chart of Accounts provided (do not create new accounts), 2. Prepare the bank and cash reconciliation for September 30t2022 3. Prepare the General Joumal for the month of September (all journal entries including AE). Prepare Closing Entries for the month of September to continues seriod. 5. Prepare the Financial Staternents in good form for the contingency disclosures that are exclusive of the transactions of this case (do not include general notes). Prepare an Income Statement, a Statement of Owners Equity (Retained Eamings), required. STEP 2: Analyze the financial statements and answer the following questions: 1. Make one clear suggestions of how the business can improve its net income? 2. With the data of the financial statements that you have completed, is the business sustainable? Explain. STEP 3: Do the assignments (eClass Quiz) where you type (fill in the blanks) the amounts reported in the financial statements, provide answers to step 2 questions and upload a file with only the specific document required (bank and cash reconciliation, general journal of September, T-accounts as of September 30th. Income Statement of September, or Statement of Financial Position as of September 30th). Note: keep the working papers and other documentation of the work you have done to complete this part of the term project in case your professor asks. To protect the academie integrity of programs, courses and assignments, professons rely on comparing students' working papers or draft work. The documents can be requested at any point during the term, so keep them organized. The Science Bunch Service Ltd. Statement of Retained Earnings The Science Bunch Service Ltd. Financial Statements: The Science Bunch Sonvirs Ltd For services rendered in connection with the incorporation of The Science Bunch Service Lid. including but not limited to: - Filing application for articles of incorporation as a Canada Business Corporation. - Securing tradermark protection on the name The Science Bunch - Filing necessary documents with the Canadian Registrar of Companies - Filing appropriate documents as required under the Ontario Diroctors' Act to name corporate directors - Registering the Internet domain name (www.thesciencebunch.ca) - Various legal advice on these and other matters The amount of $1,250 The 6 LAW-Barristers \& Solicitors Certified Document To: Dally's selences Services From: Perry Mason Date: July 1T, 202a Re: initial contribution Hereby l certify the following items were agreed and happened with me as a witness: - The Science Bunch Service Ltd. has issuod 900 shares. - Mrs. Sally Thoron contributed the amount of $2,000 in exchange for 200 shares of the company. - The contribution was made in cash and deposited in the banks account of the company. - Mrs. Charleen Thoron contributed the amount of $2,000 in exchange for 200 shares of the company. - The contribution was made 70% in cash and 30% in supplies to be used to provide tho services. The cash contribution was doposited in the bank account of the company Sally Thoron paid to Harpeet Sing the amount of $900 for designing and hosting the fabulous website and app of The Science Bunch. Paid on July 1st2022. This document acts as a receipt to both parties that the service has been delivered in full and paid in full. Salfy Thoron Harpeet Sing Notes: (1) The amount must be equal to 186 times the last digit of your student number (rent) (3) The amount must be equal to $1,X00 where X is the last digit of your student number (equipment) (4) The amount must be cqual to 125 times the last digit of your student number (supplies) (5) The amount must be equal to 70 fimes the last digit of your student number (cleaning schools) (9) The amount must be equal to 1800 times the last digit of your student number is revenue collected in each for senvices provided in September plus 550 times the last digit of your student number is revenue collocted in cash for the sale of merchandise in September phis 450 times the Lst digit of your stodent number is for prepaid revenues (money collected but services not provided yet) received in September plus collected 90% of accounts receivables that were outstanding on Augunt 31", 2022 (11) $X,000 were bomowed from Line of Credit, X is the last digit of your student number (12) The amount must be equal to 20 times the last digit of your student number (bank fee) Sally Thoron representing The Science Bunch Ltd. Agrees to pay Sally Thoron (the individual owner of car used to support the development of commercial activities of The Science Bunch) the sum of (1) for renting the car during the months of September 2032, October 2022 and November 2022. This document acts as a receipt to both parties that the service has been agreed and paid in advance. Sally Thioron YOUR PREMIUM IS DUE AND PAYABLEON EFFECTIVE DATE OF POLICY Coverage is cancelled if not pald in fuil for the 12 morkns by October 152022 (2) The amount must be equal to 160 times the last digit of your student number (insurance) The Science Guy supplies Educational Laboratory scientific supplies and Equipment Paid with Cheque # 19 term5: Payable in cash or certified cheque upon delivery No return accepted without prior written outhorization. All claims must be mode within 5 days following receipt of Goods INVOICE/FACTURE (3) The amount must be equal to $1,X00 where X is the last digit of your student number (cquipment) The Science Guy Supplies Educational Laboratory scientific Supplies and Equipment terms: Payable in cash or certified cheque upon delivery No return occepted without prior written outhorization. All claims must be mode within 5 doys following receipt of Goods INVOICEFFACTURE Supplies paid in full with Cheque #20 Volac of ayppict exilable as? Seplenter 30 (4a) Sippties left owe beftume Septerber 2022 aere all aned 4 daving Septexter (4) The amount must be oqual to 125 times the hast digit of your stadent number (ropplies) (43) The amount mast be cyual to 38 times the lat digit of your stuident number (supplies). Spotless Uleaning services (5) The amount must be cqual to 70 times the last digit of your student number (eleaning schools) Awesome Stuff We hame what you do not need, brit wamt. 105 lakeshore drive Teronto, ON M3ST2T phone 416-878-9532 fax:4108789533 Please make cheque payable to Awesome Stuff 4009 Keele St - Unit 11 Toronto ON M3J 1P3 Valse of ayptios axilible at Septender 30: (6a) (6) The amount must be equal to $28X where X is your last digit of student number (merchandising) (6a) The amount must be equal to 5K5 where X is your last digit of student number (merchandising) INSTAPRINT Blit To: The Science Bunch invoce=invoceDate.TORD230Juy5m,2022 Payment condions: 10% when ordering the rest at time of delivery Please make checue payable to: Paid with O Instaprint, 48 Burgess Ave. Scarborough, ON M7Z 1W9 Desivery: the brochures and posters are ready to pick up on ay 5 th 2022 Mamber of brictares distribated: Ualg: 5 breckiores: Haguest: 8 drectiores Seplember: (7) bruatares (7) The amoent must be equal to X where X is the last digit of your stud ent number (promotion) Sally Thoron representing the company The Science Bunch Ltd. paid to Sally Thoron the amount of $40 per hour of (8) hours of presentations at local schools during the month of September. This document, issued on September 30th, 202. acts as a receipt to both parties that the service has been delivered in full and paid in full. Saffy Tfioron Paid with Cheque # 22 (8) The amount must be equal to 21 times the last digit of your student number (employees) (9) The amount must be cqual to 3900 times the last digit of your student numiter and the annount breaks down as follows: 1800 times the last digit of your student number is tevenue colloctod in eash for servises provided in September 1100 times the last digit of your student number is revenue utill not collocted but services have been provided in Scptember \$50 times the last digit of your student number is revenue collectod in cash for the ale of merchandise in Septeraber 450 times the last digit of your stadent number is for prepaid revenaes (moncy collectod bet icricer not provided yet) received in Septcmber (9a) In September, Sally collected 90% of accounts receivables that ware gubtanding on Awgast 314,2022 (96) In September, Sally provided services to 80 . of prepaid revenoes that were cutitanding on: August 314,2022 To: Sally@emailservices,ca From: Charleen@theaccountant.ca Subject: estimated income tax for September 2022 Date: September 30,2022 11,59pm Sally, The purpose of this e-mail is to inform you that I have estimated your income tax liability for the operations of the month of September to be (10). Please prepare the cheque and due date of payment is October 15,2022 . Please note that August's income tax payment cheque (CHQ# 16) was mailed and received by CRA on September 10, 2022. The Accountant (10) The amount must be equal to 193 times the last digit of your student number (income tax) your communication partner Account Summary for Sally Thoron September 30, 2022 Pre-paid Account $300 deposit received on July 1, 2022 Current charges (for September usage) Sample General Journal (assuming the last digit of your student number is 1) 22