Problem 3A
You will perform the operating procedures necessary to maintain
stock items and process purchase orders. purchase invoices, and cash
ont transactions for the week of March 8 through March 14 for Hayes Appli
Answer Audit Questions 3-A on pages 139-140 as you complete this prob-
Delay reports as necessary to answer the questions, and click Info on the
har for helpful check figures to audit your work.
Step 1: Start up Integrated Accounting 7e.
2 Load opening balances flle 1A7 Problem 03-A.
Step 3: Enter your name in the Your Name text box and click OK.
Step 4 Save the file with a file name of 03-A Your Name.
Step 5: Enter the inventory stock item maintenance data.
Add Stock No. 4030; GC Electric Range; unit of measure, EA (Each);
reorder point, 5; retail price, $465.50 to the stock item file.
Add Stock No. 4040: GC Gas Range; unit of measure, EA (Each);
reorder point, 5; retail price $538.79 to the stock item file.
Change the retail price of S by S 29 CF. Refrig. (Stock No. 3040) to
$1.859.00
Change the reorder point of GC Washer (Stock No. 1010) to 12 and
the retail price to $339.95.
Step 6: Enter the following purchase order and purchase invoice
transactions.
Weekly Purchase Order and Purchase Invoice Transactions
Mar 08 Ordered the following merchandise from ICY Refrigeration Co., terms
2/10, n/30. Purchase Order No. 505.
Description
Quantity
Unit Cost
12
225.00
Micro Refrig
18 Received the following merchandise for purchase Order No. 501 from
SPOTLESS Mig, Inc., terms 2/10,n/30. Purchase Invoice No. 921.
Description
Quantity
Unit Cost
319.00
SPOTLESS Washer
e Print the spreadsheet report.
Save your spreadsheet data with a file name of 03-A Your Name
& End your spreadsheet session
Step 20: Optional word processing integration activity,
The list should include the last cost and retail price for each item on the
Complete a memorandum that lists inventory items currently on order
a. Display and copy the Inventory List report to the clipboard in
list. Refer to Figure 3.30 as a guide if necessary.
b. Start your word processing software and load template file IA7
Wordprocessing 03-S (load as a text file).
c. Paste the contents of the clipboard into the memorandum at the
d. Enter your name and today's date where indicated.
e. Remove the report heading and align the column headings. Remove
all inventory items that do not have on-order quantities and format
the information as necessary.
f. Print the memorandum.
8. Save the memorandum document with a file name of 03-A Your
Name.
h. End your word processing session.
If you have access to the Internet, use your browser to find information
about entrepreneur start-up businesses or a list of some of the top small
businesses in the United States. Hint: Use business opportunities entrepre-
neur as your search string. Report on your findings. Be sure to include the
source and the URL (Web address) of your search.
Step 21: End the Integrated Accounting 7e session.
We border
en
Step 8: Display the purchase order and purchase involce registers for
the period of March 8 through March 14.
Display an inventory List report.
Step :
Step 10: Display the general, purchases, and cash payments journals
for the period of March 8 through March 14.
Step 71: Display a general ledger report for the Merchandise Inventory
and Accounts Payable accounts.
Step 12: Display a schedule of accounts payable.
Step 73: Display an accounts payable ledger for all vendors.
Step 14: Display the inventory transactions report for the period of
March 8 through March 14.
Step 15: Display the inventory Exceptions report.
Step 16: Generate a Most Profitable Inventory Items graph and a least
Profitable Inventory Items graph.
Step 17: Save your data to disk.
step 18: Use the Check toolbar button to check your work.
Step 19: Optional spreadsheet integration activity.
Use a spreadsheet to prepare a report showing the current retail value
of each stock item in Hayes Appliances's inventory. Use the optional
spreadsheet integration activity in Sample Problem 3-S and Figure 3.29
as a guide if necessary.
a Display and copy the Inventory List report to the clipboard in
spreadsheet format
b. Start your spreadsheet software and load template file IA7 Spread-
sheet 03-S.
c. Select cell Al as the current cell, and paste the Inventory List report
from the clipboard into the spreadsheet.
din Cell B4 enter: Value at Retail
In cell 17 cater: Value, and in cell 18 enterar Retail
Enter the formula to calculate the value at retail in cell 110, then
copy it to each of the following inventory items.
Enter the appropriate formula for your spreadsheet software to sum
the Value at Retail column at the end of the report.
Unit
Oy
On the greator IDEAL Appliance
Archase ordero
Cathy
Step 10
Unit Com
426.3
1112.30
0 Received the following merchandise for purchase Order No. 503
from MINT Refrigerator, in terms 2/10, 1/30. Purchase invoice
Quantity
4
Step 11:
No 22
Description
1 Door 22 CF. Refrig
5 by 5 29 CF Refrig
Step 12:
10 Ordered the following merchandise from RKC Production, Inc.,
Unit co
230.00
220.00
3
Step 13
terms 2/10, 1/30. Purchase Order no. 507.
Quantity
Description
Trash Compactor
Mini Electric Dryer
3
Step 14
Returned the following merchandise to ICY Refrigeration, Co.
Unit Cost
23795
Quantity
2
Step 15
You
77
Purchase Invoice No. R919.
Description
Mini Fr. & Refrig.
Step 10
12 Received the following merchandise from Purchase Order No. 502
from RKC Production, Inc., terms 2/10, n/30. Purchase invoice No.
Step 1
Quantity
7
Unit Cost
310.00
Step
923
Description
RKC Gas Range
Step
Ordered the following merchandise from ICY Refrigeration, Co.,
13
Unit Cost
terms 2/10, n/30. Purchase Order No. 508.
Description
Quantity
12
285.00
ICY 20 CF. Freezer
14
14
Received the following merchandise for Purchase Order No. 504
from MNT Refrigerators, Inc., terms 2/10, n/30. Purchase Invoice
Quantity
Unit Cost
No. 924.
Description
Top MNT 21 CF. Refrig.
4
455.00
Step 7: Enter the Cash Payment Transactions shown below.
Weekly Cash Payment Transactions
Mar 12 Paid invoice 917 to GC Manufacturing, Inc., $1,590.00, no
discount. Check No. 4735.
13 Paid invoice 920 to IDEAL Appliance Mfg., $710.25, less 2%
discount, $14.21. Check No. 4736.
146 Paid invoice 921 to SPOTLESS Mfg., Inc., $1,914.00, less 2%
discount, $38.28. Check No. 4737.
Purchase answer to see full
attachment