Yes

26 Received all the goods that Waren authorized Eastern Wisconsin University (EWU) to return on EWU's return request No. R8034for credit against their account balance.

Process and record the sales return now.

Yes

26 Received check No. 49326 (Doc. No. 8) for $10,000 from Eastern Wisconsin University in partial payment of the remaining amount (after sales return) on charge invoice No. 729, and deposited the check.

Do not finalize a deposit slip until you determine whether there are other cash receipts on the same day.

A

Yes ²⁶ Received vendor invoice No. 34719 (Doc. No. 18) from Velocity Sporting Goods for goods ordered December 18 and received December 22.

Follow the flowchart steps on page 22.

Upon receiving the invoice, you can now record the purchase using the date on which Waren incurred the liability for the goods, December 22.

Yes

26 Issued check (Doc. No. 20) to Interstate Motor Freight for the amount of the freight bill (Doc. No. 19) for the Velocity Sporting Goods shipment received December 22.

Follow the flowchart steps on page 23.

Yes

26 Received check No. 65891 (Doc. No. 8) for $7,855 and customer purchase order No. D9794 (Doc. No. 4) in the mail from Andrews College for a cash sale. All goods ordered were shipped and the cash sale was processed and recorded.

Carrier & number: Interstate Motor Freight; Carrier number 62XY404

Freight charges: Collect (i.e., paid by Andrews College)

Route: Direct

Truck & driver Truck 64, Brian Ward Freight rate: $19.00 per 100 lbs.

Shipment: 5 cartons/basketballs @ 35 lbs./carton

2 cartons/hip, tail, arm pad sets @ 7 lbs./carton

4 cartons/footballs @ 19 lbs./carton

Start with the flowchart on page 21.

Yes

26 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

#15 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.

28. Yes

    Issued check (Doc. No. 20) to Velocity Sporting Goods for payment in full of their invoice No. 34719 for goods received December 22.

Consider the credit terms before making the payment.

29. Yes

    Printed and reviewed payroll time record reports (Doc. No. 21) for Ford and Adams for the time period ended December 31 and prepared the payroll for all three employees, including paychecks.

Paychecks are considered "Mailed/Given to Outsiders."

Time record reports are filed in the "Accounting" file tab.

Recall that federal income tax withholding amounts were listed earlier with employee pay rate increases.

A

Yes ²⁹ Received the 11-inch tablets ordered on Waren's purchase order No. 325 (Doc. No. 16) and vendor invoice No. 2423 (Doc. No. 18) from Chicago Office Supply. The tablets were received in new and undamaged condition and taken directly to the office. The estimated useful life is 5 years with no salvage value.

Yes

29 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.

Purchase orders are not issued for services that Waren purchases.

MONTH-END PROCEDURES - After you have recorded all the transactions, go to page 12 of the Instructions, Flowcharts, and Ledgers book and complete all the month-end procedures. An additional month-end requirement for this project is:

Yes

Monthly 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, Flowcharts, and Ledgers book and complete all the year-end procedures. Additional information for the year-end procedures is:

No

Ending Inventory - A physical inventory was taken 1/1/18, before business began for the new year. Merchandise on hand cost $191,645.00

No

Bad Debt Expense - The expense for bad debts is estimated at the end of the year as two-fifths of one percent ( 0.0040 ) of net sales.

No

Marketable Securities - At December 31, 2017, 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

Sales Journal - What is the credit to Accounts Receivable (A/C #10200) for the December 26 return of goods by Eastern Wisconsin University?

Cash Receipts Journal - What is the debit to Cash (A/C #101200) for the December 26 cash sale to Andrews College?

Cash Receipts Journal - Which accounts receivable subsidiary account number was affected by the December 26 collection from Eastern Wisconsin University?

Purchases Journal - Which account was debited for the December 26 purchase from Chicago Office Supply?

Purchases Journal - Which account was debited for the December 29 purchase from Chicago Office Supply?

Cash Disbursements Journal - What is the amount of the purchase discount for the 12/28 check written to Velocity Sporting Goods?

Payroll Journal - How much F.i.C.A. tax was withheld from Nancy Ford's December 29 paycheck?

Payroll Journal -What is Jim Adams' overtime pay on his December 29 paycheck?

Payroll Journal - What is Nancy Ford's regular pay on her December 29 paycheck?

Payroll Journal - What is the total net pay for all employees for all of December?