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? Please see the papers. There you will find screenshots from armonddaltoncloud.com that will give you an idea of what kind of that project. If you’re interested to do this job, I will give my login and password for armonddaltoncloud.com, and I will have the same login and password. So I will be able to see the progress of the work. Once into the eSUA website, you will have access to all the detailed instructions, documents, files, etc. An important overview of the whole Accounting Cycle process is found in the Reference Book on page 10. The Reference book is a VERY USEFUL resource.

The E-SUA project consists of four parts:

Activity 1. Sales/Cash receipts cycle: Fill out the necessary source documents and then record the journal entry for each transaction in the appropriate journal (Sales, Cash receipts, or General journal).

Activity 2. Purchases/Cash Disbursements cycle: Fill out the necessary source documents and then record the journal entry for each transaction in the appropriate journal (Purchases, Cash disbursements, or General journal).

Activity 3. Payroll cycle and Month End Procedures: Complete the payroll for the end of December and then complete the Month End procedures including finish posting all amounts from journals to the general ledgers and prepare Dec 31 bank reconciliation.

Activity 4. Year-End Procedures: Complete the year-end procedures which include: prepare the unadjusted TB, then year-end adjusting entries, prepare adjusted TB, prepare formal financial statements, prepare AR aging TB, AP TB, Fixed Asset TB, and finally prepare the closing journal entry and post to the general ledger to zero out temporary (income statement accounts and dividend account (if applicable) to retained earnings.

If you’re interested, please see the attachment. There you will find full detailed E-SUA INSTRUCTION and Transaction List for project, and Website Instructions armonddaltoncloud.com Please let me know ASAP if you’re interested to do this job, and make your offer for a price for this work. The due day for the project is June 20.

Attachments
Systems Understanding Aid (10th Edition)
Document Answer Key

Transactions #1 to #11
(Dec 16- Dec 22)

ACCOUNTING INFORMATION SYSTEMS

PROF. RAN LI, CPA, CGMA

#1: Dec 16,2022. Received customer purchase order No. 53426 (Doc. No.4) from Rosemont
University, approved their credit and shipped the goods. All goods ordered were shipped, except
that only 45 shoulder pad sets were available for shipment.

First, generate Bill of Lading based on the customer’s
purchase order…

Second, generate sale invoice – use the “selling price” on Document No. 3 “Price Lists”
to identify unit selling price, then calculate the total invoice amount.

Third, Journal entry for sales
Dr. Accounts Receivable (10200)– Rosemont University (406)—-14,610.00
Cr. Sales———————————————————————————————-14,610.00

Action: Go to “Ledgers” book, pg 16: 406 Rosemont University Acct Receivable Subsidiary ledger

Third, Journal entry for sales
Dr. Accounts Receivable (10200)– Rosemont University (406)—-14,610.00
Cr. Sales——————————————————————14,610.00

As we know there is sales journal in Waren Sports Company, so we record in journal.

#2. Dec 16, 2022. Received an email notification from First American Bank and
Trust for an ACH payment from Branch College. ACH payment received was
$1,622.88 for payment in full of charge sale invoice No. 730.

First, look at the Sales Journal for invoice No. 730.
Dec 13, Dr. A/R (10200)- Branch College———-$1,656
Cr. Sales (30100)————————————————-$1,656

Second, input the cash
receipts into “Cash
Receipts Prelist”—–good
internal control

So. JE on 12/16 should be
12/16 Dr. Cash ——————————————–$1622.88
Sales discount Taken (30300)—————33.12
Cr. A/R (10200)——————————————-$1,656

So. JE on 12/16 should be
12/16 Dr. Cash ——————————————–$1622.88
Sales discount Taken (30300)—————33.12
Cr. A/R (10200)——————————————-$1,656

#3. Dec 16, 2022. Ordered inventory on account from Velocity Sporting Goods, using purchase
order No. 328 (Doc No. 16)

No receiving or recording occurs at this point.
Send vendor copy to the vendor, then keep
accounting copy.

#4. Dec 19, 2022. 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 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.

12/19/2022 Dr. Office supplies expense (40300) ————$830.25
Cr. Acct Payable(20100) – Chicago Office Supplies (253)—————$830.25

I look at the purchase journal, since it is a purchase…

12/19/2022 Dr. Office supplies expense (40300) ————$830.25
Cr. Acct Payable(20100) – Chicago Office Supplies (253)—————
$830.25

#5. Borrowed $90,000 from First American Bank and Trust by issueing a two-year note payable (Doc No. 14)
with a stated annual interest rate of 5.5%. First American electronically deposited the full loan proceeds of
$90,000 into Waren’s checking account.

12/19/2022 Dr. Cash (10100)——————————-$90,000
Cr. Notes Payable (21100)—————————$90,000

#6. Received sales return request No. R8034 (Doc No12) from Eastern Wisconsin University (EWU). The
request was approved, and the acknowledgement copy mailed to EWU.

#7. Dec 20, 2022. Received vendor invoice No. 105963 (Doc. No.18) from First Security
Insurance for the forth quarter’s health insurance coverage for employees and immediately
issued a check (Doc No.20) for payment in full.

12/20/2022 Dr. Other operating expense (41000)———————–$1,710
Cr. Cash—————————————————————–$1,710

#7. Dec 20, 2022. Received vendor invoice No. 105963 (Doc. No.18) from First Security
Insurance for the forth quarter’s health insurance coverage for employees and immediately
issued a check (Doc No.20) for payment in full.

12/20/2022 Dr. Other operating expense (41000)———————–$1,710
Cr. Cash—————————————————————–$1,710

————————————————————————————————————————————————
————

#8. Dec 20, 2022. Increase employee pay rates effective for the Dec 16-31 semimonthly pay period. There
were no changes in filing status or withholding allowances.

#9: Received merchandise from
Velocity Sporting Goods as listed on
purchase order No. 328.

All merchandise listed on the
purchase order was received in
good condition and in the
quantities ordered, except that
only 87 (in your worksheet, it is
85 ) basketball pole pads (Item No.
BB-019) were received.

The goods were placed immediately
in the inventory warehouse.

Note: You don’t record a purchase yet
because the invoice hasn’t been
received.

#10. Filled the backorder quantity of 30 shoulder pad sets for Rosemount University’s customer purchase order
No.
53426 (Doc. No.4). Approved Rosemont’s credit and shipped the back ordered shoulder pad sets. Prepared a
new charge sales invoice (Doc No.6) for the sales to Rosemont.

Dr. Acct Receivable———–$3,690 (30 x $123)
Cr. Sale————————————-$3,690

Dr. Acct Receivable———–$3,690 (30 x $123)
Cr. Sale————————————-$3,690

#11: Received vendor invoice No. 34719(Doc. No. 18) from Velocity Sporting goods for goods
ordered December 16th and received Dec 20.

Step 1: Revise the invoice to reflect BB-019 only
received 85 items, not 115. Then revised all
related amount, and initial Jim Adams.

Step 2: Upon receiving the invoice, record the
purchase using the date on receiving goods (Dec
20 in transaction #9) to record liability.

12/20/22 Dr. Purchase Inventory—– 22,703
Cr. Account Payable——–
22,703

Step 2: Upon receiving the invoice, record the purchase using the date on receiving goods (Dec
20 in transaction #9) to record liability.

12/20/22 Dr. Purchase Inventory—– 22,703
Cr. Account Payable——–22,703

Step 2: Upon receiving the invoice, record the purchase using the date on receiving goods (Dec
20 in transaction #9) to record liability.

12/20/22 Dr. Purchase Inventory—– 22,703
Cr. Account Payable——–22,703

Step 1: check how much AR subledger balance for Stevenson College as of today. See the result below.

Step 2: consider the journal entry
12/23/22 Dr. Allowance for Doubtful Accounts—————–$2,900
Cr. Acct Receivable-Stevenson—————————-$2,900

Note: since no journal for ”Allowance for doubtful accounts” set up, we will input the journal entry into
“Journals” book, “General Journal” part.

Step 3: Update A/R Subledger in Stevenson College, making sure after the JE, AR-Stevenson ending balance is
zero.

Step 1: Based on the “Approved Returned Request” in
Tran. #6, warehouse generate Receiving Report #74

Step 2: Generate credit memo

Step 3: Journal Entry

12/23/2022 Dr. Sales Return————–$4,550
Cr. Acct Rec – Eastern Wisconsin Univ.———-$4,550

Step 3: Journal Entry

12/23/2022 Dr. Sales Return————–$4,550
Cr. Acct Rec – Eastern Wisconsin Univ.———-$4,550

See transaction 15 at the same day for
receiving another check and deposit.

Dr. Cash $12,000
Cr. Accts Receivable–$12,000

Dr. Cash $12,000
Cr. Accts Receivable–$12,000

1. Cash received. Input in Cash Receipt Prelist; write at the back for “Deposit Only, Warren
Supply”;

2. Generate Bill of Lading
3. Record Cash Receipt journal

Cash payment for
advertising expense
(40200)

Then post in cash disbursement journal.

Dr. Accounts Payable $22,703
Cr. Purchase Discount————-$454.06

Cash ( $22,703 x 98%)——— $22,248.94

12/29/2022 Dr. Accounts Payable $22,703
Cr. Purchase Discount—————–$454.06
Cash ( $22,703 x 98%)———

$22,248.94

Dr. Purchase- fixed assets(10800)———–$1,256.10
Cr. Accts Payable- Chicago Office Supplies——–$1,256.10

Dr. Purchase- fixed assets(10800)———–$1,256.10
Cr. Accts Payable- Chicago Office Supplies——–
$1,256.10


 

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