217 Week 5 HA Problem 3-A

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217 Week 5 HA Problem 3-A


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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.
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