Treat this Homework as an independent scenario in order to respond to questions. Check Preference Items and Inventory and make sure it is turned on. If you turned on Sales Tax, make everything non-taxable. Load your homework company. Check your preferences to make sure that. inventory is active. Create item, Part X -- Type=Inventory, Manufactuer's Part number= MFG Part, Purchase Information description= purchase description, Sales Information description = sales information description. Purchase price = $10. COGS account choose the COGS account, sales price = $20, accounting services. Asset account choose the inventory account, reorder point=10. - Create item, Ereight In -- Type=Other Charge, Description= Freight.Amount = 0. Account -- choose the COGS account. - Create item, Document Fees -- Type=Service, Description= Document Fees Rate=$25. Account -- choose the Professional Fees expense account. - Modify your vendor, "Your Name - vendor" (you should have Quickadded this earlier). Select a default payment terms = 2/10 n30. Create a Purchase Order for your vendor. Order 10 Part Xs, with 2 hours for document fees and $20 freight. Modify your vendor, "Your Name - vendor" (you should have Quickadded this earlier). Select a default payment terms = 2/10 n30. - Create a Purchase Order for your vendor. Order 10 Part Xs, with 2 hours for document fees and $20 freight. Select yes to update the item. - Display the Item Listing Report. What is the cost and price shown for Freight In? 0.00, 0.00 tic 20.00, 0.00 0.06, 20.00 aanaa Receive the PO you created with a bill" REF=VINV1. - Display the report, Inventory Valuation Detail. Which items show up on this report? Select all that apply. Part X Freight in Document Fees All of the above - - Create an "expense" bill for your vendor for $75. Charge to Office Supplies. REF=VINV2. - Display the report Vendor Balance Detail. What is the balance for your vendor? 75 170 245 Go back to your original PO. What is the status of the PO? Open Invoice Partially Received Received in Full None of tPaid in Fullhe above Run your trial balance (check the dates). What is the amount for Office Supplies? 759 2,500 0 5,000 Treat this Homework as an independent scenario in order to respond to questions. Check Preference Items and Inventory and make sure it is turned on. If you turned on Sales Tax, make everything non-taxable. Load your homework company. Check your preferences to make sure that. inventory is active. Create item, Part X -- Type=Inventory, Manufactuer's Part number= MFG Part, Purchase Information description= purchase description, Sales Information description = sales information description. Purchase price = $10. COGS account choose the COGS account, sales price = $20, accounting services. Asset account choose the inventory account, reorder point=10. - Create item, Ereight In -- Type=Other Charge, Description= Freight.Amount = 0. Account -- choose the COGS account. - Create item, Document Fees -- Type=Service, Description= Document Fees Rate=$25. Account -- choose the Professional Fees expense account. - Modify your vendor, "Your Name - vendor" (you should have Quickadded this earlier). Select a default payment terms = 2/10 n30. Create a Purchase Order for your vendor. Order 10 Part Xs, with 2 hours for document fees and $20 freight. Modify your vendor, "Your Name - vendor" (you should have Quickadded this earlier). Select a default payment terms = 2/10 n30. - Create a Purchase Order for your vendor. Order 10 Part Xs, with 2 hours for document fees and $20 freight. Select yes to update the item. - Display the Item Listing Report. What is the cost and price shown for Freight In? 0.00, 0.00 tic 20.00, 0.00 0.06, 20.00 aanaa Receive the PO you created with a bill" REF=VINV1. - Display the report, Inventory Valuation Detail. Which items show up on this report? Select all that apply. Part X Freight in Document Fees All of the above - - Create an "expense" bill for your vendor for $75. Charge to Office Supplies. REF=VINV2. - Display the report Vendor Balance Detail. What is the balance for your vendor? 75 170 245 Go back to your original PO. What is the status of the PO? Open Invoice Partially Received Received in Full None of tPaid in Fullhe above Run your trial balance (check the dates). What is the amount for Office Supplies? 759 2,500 0 5,000
