Posted: April 24th, 2023

ACT 430 Accounting Information Systems

Total: 25 marks
ACT 430
Accounting Information Systems
Fall, 2022-2023
Lab Project
Course Code: ACT430Lec1 Course Name: Accounting Information Systems
Due Date (Time): Wednesday November 30, 2022 – 11:59PM Instructor: Dr. Kweh Qian Long
Number of Students: 16 Pages: 24
No Course Learning Outcomes PLO
1 Explain basic concepts of Accounting Information Systems, business
processes and the application of Accounting Information Systems in
businesses and organizations.
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2 Prepare and use information systems documentation techniques to
understand and document information systems.
4
3 Develop skills in using cloud accounting system. 1 X
4 Critically evaluate internal controls, fraud, cybercrime and information
system controls in a business.
4
X
NAME OF STUDENT: ID:
INSTRUCTIONS – READ CAREFULLY
▪ Write your answer on this booklet.
▪ Programmable calculators with graphing capabilities are not allowed.
▪ Mobile phones, books, or other communication devices are not permitted in the examination
room.
▪ Use of unauthorized material and attempts to cheat or plagiarize will automatically result in a
grade of zero for this examination and appropriate disciplinary measures.
Required:
You need to submit financial reports after completing the following transactions and events. You can
modify the tax rate or information accordingly for the UAE context. Include proofs of your work, too.
Throughout this text, you’ll follow the establishment, setup, and growth of a fictitious company called
Green Tree Landscapes. Green Tree Landscapes is a new business founded by Jon Arbor and Alice
Green.
Together they each own 50% of Green Tree Landscapes Inc. Jon is a landscape architect and Alice is a
construction manager. Together, they hope to build a strong partnership. They hope to grow Green Tree
Landscapes into the top landscape company in the Toronto are.
Thecompany wasfoundedonJanuary 1st of thisyear. They setupthecompany tomeet the growing
demand for landscape construction and maintenance services in their area. Their company is based in
Mississauga,ON.TheywillservicetheGreaterTorontoArea.
Jon and Alice are starting small by offering simple home services like lawn maintenance, snow removal
andother landscapeservices. Eventually Jonand Alice want tooffer landscape design, constructionand
maintenanceservicestobothresidentialandbusiness customers.
Theyhope to grow their business sufficiently in thefirst half of the year, sothey can offer these new
services, buy equipment, and hire a team of people.
Jon and Alice have made their first wise business decision-they’ve decided to hire you as their
bookkeeper. You’ll be required to setup their books in QuickBooks, enter their day-to-day
transactions andmaintain theiraccounting records. You’ll berequired toperform the important monthly
tasks like:
• Enter sales transactions
• Enter expense and purchase transactions
• Reconcile accounts
• File sales taxes
• Create financial reports
Jon and Alice have hired a year-end accountant named, Andrea Fernandes. Andrea’s firm, AF CPA will
create the corporate tax return and financial statements for Green Tree Landscapes. You’ll be required
toprovideinformationtoAndreaandherteamtohelpthemcompletetheyear-end process.
It’s your first day on the job and Green Tree Landscapes is up and running. Tom and Alice have asked
you to setup the books, so they can get off to a good start. They’ve met with Andrea, their
accountant, and they’ve provided you with all the information that you need to setup
QuickBooks.
Required:
1. Setupanewcompany called Green TreeLandscapes.NOTE:Choose thefollowingoptions when
setting up:
a. Send and trackinvoices
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b. Organize yourexpenses
c. Track your retailsales
d. Track your sales tax Do notselect:
a. Pay your employees
b. Track hours
2. The contact information for the company is the following: Green Tree Landscapes
5100 Spectrum Way Mississauga, ON. L4W 5S2
HINT: This should be updated in the Account and Settings.
3. Theaccountant has registered the business with the Canada Revenue Agency andreceived the
businessnumber.Thebusinessnumber is111234567RT0001.Enter it intheappropriate place in
QuickBooks.
4. Theaccountantalsoregisteredthebusiness tocollectandremit HST.TheCRArequiresthat the
company files the HST monthly. Enable sales tax for the company (Hint: choose monthly as the filing
frequency). Enter the required information.
5. Alice likes the logo that she had created and has asked you to add it to the QuickBooks. Add the
company logo. NOTE: See the resources page to download the logo.
6. Andrea, theaccountant,hasaskedyoutoenableseveralsettingstosetuptheaccounting correctly.
a. Green Tree Landscapes willhavethe fiscal year thesameas thecalendar year.
b. Tosecure the accounting records, theaccountant asks you to set a Closing date as Dec. 31st of
the last calendar year.
7. Fromtheirpreviousbusiness contacts,Jonand Alice havealistofcustomers that they’dlike to enter
intoQuickBooks.Create a customer list with 10 related details.
8. Alice and Jon have opened a bank account at a local bank called Toronto Savings & Loan. They
deposited Dh10,000 to get started on January 10th of last year. Alice loaned the money to the
company. (Hint: To track the money Alice deposited you can setup a new liability account
called Due to Alice. Deposit the money to the Toronto Savings & Loan account with the From
account being Due to Alice). See your instructor for more details if required or if you have
questions.
Additional Review
Sinceyou’rejust getting started in QuickBooks, there isalot tolearn. Dothe following exercises to
practice navigating QuickBooks Online.
1. Visit the QuickBooks Sign inpage:qbo.intuit.com. Bookmarkthesign-inpagetomakeit easy to sign in for future work in QuickBooks Online.
2. Hint:ClicktheHidebuttontoclosethegettingstartedicons. ClicktheDashboardand review the
following sections:
a. Dashboard including Income, Expenses, Profit and Loss, and Sales
b. Bank Accounts
3. To make your dashboard private, slide the Privacy button on to minimize the information displayed
on the dashboard. Make the dashboard private. Try this and compare the differences between
the two views.
4. Review the left-hand navigation bar:
a. Click to review the Sales Centre and then choose All Sales.
b. Click to review the Customer List. Print the list as a test.
c. Hover over the Accounting centre and review the Chart of Accounts.
5. In the Taxes centre, review the sales tax rates in your company.
6. Get familiar with the Create menu:
a. Open the Enter Bills window (no need to create a transaction).
b. Open and review the Pay Bills window.
c. Open and review the Invoice window.
d. Open and review the Journal Entry window.
Now that you’ve setup Green Tree Landscapes and have a basic understanding of how to navigate
QuickBooks Online,you’rereadytotakeyourknowledgetothenext level.AliceandJon are ready to
start delivering services to their customers.
It’s been a slow start, but winter has arrived and with it the largest snowfall of the season.
The blizzard hascustomers calling for snow removal services. You’ve foundyour first paying customers
who’vesignedupformonthly snowremovalservices. Newresidentialcustomersare callingtohaveone timesnow removal services. Commercialcustomersarecalling tohavetheir parking lots cleaned, and
their drivewayscleared.
1. Create the following new customers:
Contact:
Kevin Johnson
400Willowview Lane Toronto, ON. M3H 4J1 Phone:705-835-9701
Terms: Due on Receipt
Contact:
Chuck Henry 3185 Acton Ave.
Toronto, ON. M3H 4J1 Phone: 416-545-9810
Terms: Due on Receipt
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Contact:
Janis McBriderton
4710 Merton St. Toronto,ON.M3H4J1
Terms:DueonReceipt
Contact:
Bryce Trout
289 Speers Road Oakville, ON. L6J 3X4 Phone: 416-627-0116
Terms: Due on Receipt
Contact:
Huron Park Community Association 1891 Eglinton Ave.
Toronto, ON. M4P 1A6 Phone: 416-627-0119
Terms: Due on Receipt
Contact:
Parker Property Management 1478 Wellington St.
Toronto, ON. M9C 3J5 Phone: 905-212-2762
Terms: Net 30
Contact:
Brookstone SeniorCareCentres4652Bay St.
Toronto, ON. M5H 2S8 Phone: 416-238-2840
Terms: Net 30
2. GreenTreeLandscapeshaschosentostartwithseveralsnowremovalservices.Createthefollowing
services:
Name: Monthly Snow Removal Services
Jon wants the invoice description to read, Monthly Snow removal including driveways, patios,
sidewalk, and other areas as needed. The standard price will be Dh250/month. Andrea wants
to track the sales of this service to the Sales account (HINT: Always use the Sales account for
all services sold in the business). The services are taxable.
Name: One-time Snow Removal
The description should read, One-time snowremoval. Theprice will vary foreach customer (Hint:
leave the field blank). The service is taxable.
Name: Parking Lot Snow Clearing
Jon wants the invoice description to read, Parking lot snow clearing including entryways, lot
surface and adjacent sidewalks. Snow will be piled in specified location for removal. Price will vary
for each customer. The service is taxable.
Now that you’ve setup your new customers and added your basic snow removal services,
you’re ready to record sales. The snow keeps falling so the customers keep
calling.
3. Create following invoices using the information listed below:
Customer:ParkerPropertyManagement Date: February 10th of last year Services: One timesnow removal
Description:One-timesnow removalatapartmentcomplex Price: Dh1,000 + tax
Customer:ParkerPropertyManagement Date: February 10th of last year Services:One timesnow removal
Description: One-time snow removal at duplex Price: Dh600 + tax
Customer: Brookstone Senior Care Centres Date: February 10th of last year
Services: One-time snow removal
Description:One-timesnowremovalatcare centre in northToronto Price: Dh339 +
tax
Customer: Huron Park Community Association Date: February 15th of last year
Services:Monthly Snow Removal Services Description: Preset description
Price: Dh1200/month + tax
4. JonandAlicearefortunate that theirnewcustomersarehappywiththeirservicesand they’repaying
fortheirservicesinatimelyfashion.Recordthefollowingpaymentsfrom customers:
• ParkerPropertyManagementpaidfortheir invoicesinfullonFebruary16thoflast year.They
paidwithCheque#4758.Deposit toUndepositedFunds.
• Brookstone Senior Care Centres paid for their invoice in full on February 17th of last year. They
paid with Cheque #9989. Deposit to Undeposited Funds.
• HuronParkCommunityAssociationpaidfor their invoiceinfullonFebruary17thoflast year.
Theypaid with Cheque #328890. Deposit to Undeposited Funds.
5. Alicelikestohaveasmuch cashinthebankaspossible, soshedeposits thefollowing cheques to the
Toronto Savings & Loan on February 18th oflast year:
• Cheque #4758
• Cheque #9989
• Cheque #328890
(HINT: Ensure that you only make one deposit with all three customer payments included on
the samedeposit.)
AliceandJonhaveagoodreputation,soalotof their formercustomersarecallingfor their
services. The following customers signed up for monthly snow removal in February (Hint:
they’reexistingcustomersalreadyintheCustomerlist).Createthefollowinginvoices:
Customer:MainStreetShoppingPlaza Date:February24thoflast year
Services: Monthly Snow Removal Services Description: Preset description
Price: Dh2,000/month + tax
Customer:TroyPropertyManagement Date:February24thoflast year
Services: Monthly Snow Removal Services Description: Preset description
Price: Dh3,650/month + tax
Customer: Jackson Property Management Date: February 24th of last year
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Services: Monthly Snow Removal Services Description: Preset description
Price: Dh1,080/month + tax
Customer: Sheraton Cavalier Markham Date: February 24th of last year
Services: Monthly Snow Removal Services including parking lots on property. Description:
Preset description
Price: Dh4,020/month + tax
Cashflow istightbut fortunately thecustomers keeppaying. Record the following payments:
• Troy Property Management paid for their invoices in full on February 27th oflast year. They paid
withcheque #3422. Deposit to Undeposited Funds.
• Main Street Shopping Plaza paid for their invoice in full on February 27th oflast year. They paid
with cheque #489. Deposit to Undeposited Funds.
• JacksonPropertyManagementpaidfortheirinvoiceinfullonFebruary28thoflast year.They
paid with cheque#59801.Deposit toUndepositedFunds.
• Sheraton Cavalier Markham paid for their invoice in full on February 28th oflast year. They paid
with cheque #908763. Deposit to Undeposited Funds.
Alice deposited the followingchequestotheTorontoSavings&LoanAccountonFebruary 28th
of lastyear.
• Cheque #3422
• Cheque #489
• Cheque #59801
• Cheque #908763
Jon and Alice have been working long hours providing all the services themselves in the
startup phase. They’re just getting around to managing their expenses for the first time (For
this exercise assume that they incurred their startup expenses in month two of their
business).
Tostart the business, Green Tree Landscapes incurred several costs. Toget started they met
withtheir lawyer,accountantandotherprofessionals. Theyalsosetuptheirsmallofficeto get
started. To get started setup the following suppliers:
Contact:
Andrea Fernandes AF CPA
400 Main St. Whitby, ON. L8L 7T4 647-555-9811
Contact:
LegalEaseLaw2058Fargo Drive
Watford, ON. N0M 2S0 647-555-0032
Contact:
Bain Business Services
2054 Fallon Drive Watford, ON. N0M 2S0 647-555-4999
Contact:
TorontoSavings&Loan
399 BaySt.
Toronto, ON. M4P 1A6
Contact:
Art of Accounting
2349 Fairview St.
Burlington, ON. L7R 2E3
You’vereceivedseveralbillstocover thebusinessstartupcosts.Jonkeptalistofhis preferredlistof
suppliersin excelformat. Tospeedupthedataentry,import the Supplier List (see the Student
Resources for the excel spreadsheet).
NOTE:Assumeallexpensesaretaxable(unlessotherwisestated).Enter thefollowingbills on the 15th of
February of lastyear.
1. Legal Ease sent you a bill for legal fees. The cost was Dh875.
2. AF CPA sent you a bill for accounting fees. The cost was Dh1,489.
3. Bain Business services helped you setup the business. They provide management consulting
services. Their fees were Dh1,649.
4. You asked for bookkeeping consulting from Art of Accounting. The owner was very generous
with hertimeandsentyouabillforDh500.Tracktheexpensetoprofessionalfees.
5. AliceandJonsignedupformobilephoneservice.TheyreceivedabillfromTalkMobilityfor
Dh339. Use Telephone expense or something similar.
Alice and John setup debit cards for the business. After they received their cards, they each recorded
several expenses. Record thefollowing debit card transactions. NOTE: Addtaxtoeach transaction
amount – exclusive of tax unless otherwise indicated.
1. Alice bought office supplies at Staples for Dh85.89. Track office supply purchases to Office
Expenses. Date February 22nd, of last year.
2. Jonpurchasedsomesmall toolsandsuppliesincludingshovels, rakes,andother items from Johnson
Supply. The cost of the supplies was Dh498.87. Track supplies to the Supplies account. Date:
February 15th, of last year.
3. Green Tree wrote a handwritten cheque to purchase a vehicle insurance policy from Insurance
Experts. The policy cost was Dh1800. Cheque #100. Date February 25th, of last year. NOTE:
this transaction is exempt from tax.
4. Alice purchased Dh250 of fuel at Fuel Stop. Note: Setup a new account if necessary, to track
fuel purchases. Date: February 10th, of last year.
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5. Alice decided to rent a truck from Budget for the first 3 months of the business. She paid for the truck
on February 1st, of last year. She paid for 3 months of rental using her debit card. The cost was
Dh4,500. You’renotsurehowtotracktheexpense.Createanewsupplierandaccount totrackthe
expense.
6. Jon purchased a business license for Dh45 from the City of Mississauga on the last day of February
last year. Enter the debit card transaction. Choose the correct account to track the expense. NOTE:
Make this transaction tax exempt.
7. Jondecided torunafew advertisements using Google AdWords onFebruary 10th oflast year. Record
the Dh345 expense.
8. Alice liked the idea of Advertising, so she ran some Facebook ads for Dh2,670 on the 17th of
February, of lastyear.
9. Jon decided to print some business cards for the company on the 25thoflastmonth. He spent
Dh80 on business card printing. He purchased the business cards from Staples. Use the
Stationery and Printing account to track the expense.
Jon and Alice decided to pay some bills. Pay the following bills in full using handwritten cheques. Write
the cheques onthe last day of themonth.The first cheque numberwasCheque#101.
1. Bain Business Services.
2. Legal Ease
3. AF CPA
Jonand Alicewouldliketoseehowmuchtheyowetheir suppliers. Createandprint theAP Aging Report.
After thesecond month of Green TreeLandscapes, thebusiness isgrowing rapidly. Jon and Alicewant to
make sure that they keep QuickBooks organized. After meeting with Andrea, the accountant, she asks
youtomakesomechanges totheimportant lists in QuickBooks.
GreenTreelandscapeshaspurchasedafewassetstohelpthebusinessgrow.Janeasksyou to record the
assetpurchases.In addition to the purchase of the fixed assets, Green Tree takesout a loan to purchase
atruck.Buyingatruckwillsavethemmoneythey’respendingon truck rental.
The snow keeps falling so Alice and Jon are busy with new customer accounts. Andrea wantstomakea
fewchangestotheQuickBookschartof accounts.Followtheaccountant’s instructions below.
1. OntheChartofAccounts,Andreaasks youtoremovetheDetail Typecolumntomakeit easier to
read.
2. Theaccountantwantsyoutoopenasavingsaccount.NametheaccountTorontoSavings& Loan
Savings.NOTE:ChooseCategoryTypeBank,andthenchooseDetailType,Savings.
3. The accountant wants you to delete the following accounts:
a. Refunds – Allowances
b. Promotional
c. Other General and Administrative expenses
d. OtherPortfolioIncome
e. Otherordinary Income
f. Shipping and Delivery Income
4. The accountant asks you to make the Liability and Disability insurance accounts sub-account of
Insurance.
5. Add two expense accounts to track Facebook Ads and Google Adds (Tip: Make these two accounts
subaccounts ofAdvertising).
6. Andreahasdiscovered acoupleofduplicateaccounts. MergethePurchases-COSaccount intothe
Other Costs-COS account (NOTE: Keep the Other Costs-COS account).
7. Alice purchased a new Ford truck for the business. The truck cost Dh28,750 + tax. Green
Tree Landscapes made a down payment for Dh2,875.00. They’re financing the remainder of the
cost of the vehicle. They’ve received a loan from Ford (Tip: Setup Ford as a supplier). Setup the
accounts to track the original cost and depreciation of the new asset. Write a cheque to pay for the
asset (Tip: record the loan amount at the same time as writing the cheque). Use thenextcheque
number in sequence. Make the entry on March 10th of last year. (NOTE: the total of the
transaction willbeDh6,612.50to account for sales tax on the purchase).
8. Alice purchased a snow blower from John Deere. She purchased a SB13-3 snowblower. Setup the
appropriate accounts to track the new snowblower. Make the entry on March 15th of last year. Alice
used her debit card to pay Dh2,995.00 in cash for the machine. (NOTE: Use name the
account Machinery & Equipment).
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9. Marchsawabigincreaseinmonthlysnowremovalcustomers.Createthefollowinginvoices dates on
March 15th of last year:
Customer: Main Street Shopping Plaza Services: Monthly Snow Removal Services
Description: preset description
Price: Dh2,000/month + tax
Customer: Troy Property Management Services: Monthly Snow Removal Services
Description: preset description
Price: Dh3,650/month + tax
Customer: Jackson Property Management Services: Monthly Snow Removal Services
Description: preset description
Price: Dh1,080/month + tax
Customer: Community Church
Services: Monthly Snow Removal Services Description:presetdescription
Price: Dh450/month + tax
Customer: The Wedding Centre Toronto Services: Monthly Snow Removal Services
Description: preset description
Price: Dh678/month + tax
Customer: Parsons Community Centre Services: Monthly Snow Removal Services
Description: preset description
Price: Dh880/month + tax
Customer:JohnCooper (Tip:Addnewcustomerwithoutdetails) Services: Monthly Snow
Removal Services
Description: preset description Price: Dh240/month + tax
Customer: Barker Design
Services: Monthly Snow Removal Services Description: preset description
Price: Dh300/month + tax
10. The following customers paid in full by cheque on March 28th oflast year:
a. Barker Design, Cheque#34
b. John Cooper, Cheque#35
c. The Wedding Centre, Cheque #958
d. Community Church, Cheque#599
e. Jackson Property Management, Cheque #484
f. Troy Property Management, Cheque #299
11. Deposit the cheques listed above on March 31st, of last year.
12. Jon made the following expense transactions in the month of March oflast year. Record all
transactions to thechequing.
a. Fuelpurchase at Fuel Stop for Dh210.00 + tax. Date: March 12th oflast year.
b. Home Depot for Supplies for Dh98.78 + tax. Date: March 15th oflast year.
c. Canadian Tire for Supplies for Dh348.78 + tax. Including memo to read Salt and deicer for
residential use. Date: March 17th of last year.
d. OfficesuppliesatOffice SuppliesDepot for45.98+tax.Date:March20thoflastyear.
e. Supplies from Johnson Supply Company for Dh1200 + tax. Date: March 22nd of last
year. Description to read: 2 pallets of salt for parking lot snow services.
f. Powerhouse Staffing for temporary labour services (Tip: Setup subcontractors expense account to
trackifit’snot there).AmountwasDh2,300.00. Date:March28thoflastyear.
g. Jon signed up for some liability insurance at Insurance Experts. The cost of the policy is going to
be billed every month for Dh223.00/month.
April is a very busy month as the spring has arrived. New customers are calling for a variety of lawn
services.Tobemoreefficient,theaccountanthasaskedyoutosetuponlinebanking.
1. Create a new credit card account called Mastercard.
2. Uploadtheonlinebankingstatement tocreateaconnectedaccount in QuickBooks. Choose the
Mastercard credit card account to import the transactions.
3. Andreatheaccountanthasaskedyoutocategorizeallthetransactionsinonlinebanking centre.
CategorizeeachtransactioninQuickBooksincludingallexpensesandincome.
4. Create a bank rule with the following conditions:
a. Money going out in all accounts
b. Description contains Office Supplies Depot
c. Amount is less than Dh50.00
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d. Transaction Type Expense
e. Tax Code: H
5. ReconcilethenewMastercardaccountasofApril30oflastyear.Usethefollowing information:
a. Ending Balance: Dh907.47
b. Ending Date: April 30th of last year
6. Create a Reconciliation Report of the Mastercard account.
The business continues to grow, and sales are growing rapidly. Green Tree Landscapes is adding
newcustomerseveryday.JonandAlicehavestartedtooffertheirspringservices.
7. Alice purchased 4 lawnmowers for Dh995.00 + tax from John Deere. Setup the appropriate accounts
to track the lawnmowers original cost and depreciation. Make the entry on April 28th of last year.
Alice used her debit cards to pay for the lawnmowers in cash. (NOTE: Use the Machinery &
Equipment accounts)
8. Alice purchased the following equipment:
a. Blue Bird Power Rake. You purchased 3 of the same item.
i. Cost: Dh1,799.95 + tax
ii. Date: April 15th of last year
iii. Supplier: Blue Bird Equipment
iv. You paid using your debit card.
b. Ryan Lawn Aire V Aerator. You purchased 2 of the same item.
i. Cost: Dh3,499.78 + tax
ii. Date: April 17th of last year
iii. Supplier: Ryan Garden Products (setup new)
iv. You paid using your debit card.
c. Stihl Lawn Trimmer. You purchased 3 of the same item.
i. Cost: Dh489.78 +tax
ii. Date: April 19th + tax
iii. Supplier: Toronto SmallEngines
iv. You paid using your Debit card.
9. You setup several new services for the lawn business. Setup the following:
a. Weekly LawnMaintenance:Jon wants the invoice to read Weekly Lawn Maintenance including cut,
trim, edge and debris removal. The price will be Dh45 per week. Andrea, the accountantwantsto
trackthesalesofthisservicetotheSalesaccount.Theservice
is taxable.
b. Spring Cleaning: Alice wants the sales form to read Spring-Cleaning including power raking, cut,
trim, edge, hedge trimming, aeration, and fertilizer. The prices is Dh295. Track the sales of
this service to the Sales account. The service is taxable.
c. Fertilizer: Alice wants the sales form to read 1 Fertilizer Application. The price is Dh88.95. Track
the salesof thisservicetotheSalesaccount.Theserviceistaxable.
d. HedgeTrimming:Thedescriptionof this serviceshouldreadHedgeTrimming.The prices is not
a fixed fee and will be determined by the size of the job that needs to be completed. Track the
sales ofthisservicetotheSalesaccount.Theserviceistaxable.
e. Core Aeration: The description of this service should read Core Aeration of front and backyard.
The salespriceisafixedfeeofDh150.Trackthesalesof thisservicetotheSales account. The
service is taxable.
10. A customer has asked Green Tree Landscapes to do a small landscape renovation. A customer
has asked for bark chips to be added to some flower beds on their property. They’ve also asked
for someconcretetobereplacedinthebackyard.Createthefollowing itemstotrack these new
items (NOTE:SetupitemsasNon-Inventory parts).
a. CedarBarkChips:Thedescription of this services shouldreadCedarBarkChips.The priceisnot
afixedfeeandwillbedeterminedbythesizeof thejobthatneedstobe done.Trackthesalesof
thisservicetotheSalesaccount.Theserviceistaxable.(NOTE: This item type will be different
than the previous items from thischapter.)
b. Concrete: The descriptionof this service should readConcrete Installation. The price is not
afixed fee and will be determined by the size of job that needs to be done. Track the sales of this
service totheSalesaccount.Theserviceistaxable.(NOTE:Thisitemtypewill bedifferent than
previous items from this chapter.)
11. Nowthat you’veaddedthebasicsof thespringservices, you’reready torecordthesales in April.
Record the following sales (Hint: Record Sales Receipts).
a. Bryce Trout – Green Tree Landscapes performed a Spring Cleaning on April 20th oflast year. Paid
with Cheque #454.
b. Kevin Johnson – Green Tree Landscapes performed a Spring Cleaning on April 26th of last year.
Paid with Cheque#9982.
c. BergenAdventures–GreenTreeLandscapesperformedaSpringCleaningonApril20th oflast
year. Paid with Cheque #29388.
d. CommunityChurch–GreenTreeLandscapesperformedaSpringCleaningonApril21st oflast
year. Paid with Cheque #1299. Price: Dh3,900.
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12. Make one deposit of the above cheques on April 29th of last year.
13. Several customers have asked you to invoice them for the work that you’ve completed at their
homes. Create invoices for the following customers:
a. Huron Park Community Association – Green Tree Landscapes provided a landscape renovation
for this customer. The price of their landscape renovation was Dh25,000 + tax. They
purchased Cedar Bark Chips. Edit the description to read: Landscape renovation including
removal of old flower beds and installation of bark chips. Record the sale of the April 5th of last
year.
b. HuronParkpaidtheinvoiceinfullonApril10thoflastyear.Deposit thepaymentdirectly tothe
TorontoSavings&Loanviabanktransfer(HINT:useReceivePaymentwindow).
14. Janis McBriderton – Weekly Lawn Maintenance. Janis was a difficult customer, so you charge her twice
theregularpriceforweeklymaintenance.Theservicesaretaxable.Janiswants youtoemail the
invoicetoher.NOTE:Emailtheinvoicetoyourinstructor.Recordthesaleonthe9thoflastmonth.
15. New customer – Janis’ neighbor loves the work that Green Tree Landscapes is doing. Setup the new
customer on the invoice as you go.
a. Contact:
Robert Hitchcock 4714 Merton St. Toronto,ON.M1L3K7Phone:267-555-9811
Terms: Due on Receipt
b. Green Treeperformed aSpring Cleaning at their location. Recordthesalesonthe April 11th of last
year. The cost is Dh985 + tax.
16. Elizabeth Barker ofBarker Designs – Hedge Trimming. Price: Dh175 + tax. Date: April 8th of last year.
17. ParsonsCommunityCentre–Coreaeration.Price:Dh300+tax.DateApril12thoflastyear.
18. Main Street Shopping Centre – Weekly Lawn Maintenance. Green Tree Landscapes provided weekly
lawnmaintenance 4times thismonth. Youchargedtheregularpriceforeachweekly visit. Date: April
12th of lastyear.
19. You received several cheques from customers for payment against their invoices. Receive the following
cheques from customers and hold them in the undeposited funds account. The date was April 20th
of lastmonth.
a. Customerpayment from JanisMcBriderton. Paid infull. Paid with Cheque #948.
b. Customer payment from Parsons Community Centre. Paid in full. Cheque #99 (NOTE: Paid all
invoices infull).
20. Deposit the above payments on April 21st of last year.
21. Youreceived3additionalchequesonApril30thoflastyear.Receivethefollowingpayments:
a. Main Street Shopping Centre – paid in full with Cheque #899
b. Elizabeth Barker – paid in full with Cheque #322
c. RobertHitchcock– thiscustomerpaidhalfof theoutstandinginvoicewithCheque#44
22. Deposit these payments on April 30th of last year.
GreenTreeLandscapeshascompletedthespring-cleaningwork.They’vestarteddelivering weekly lawn
maintenance services. Manycustomers arepaying viacreditcard on thelast dayof themonthforweekly
services.Recordthefollowingsalesreceiptsusingthefollowing information:
• Date: May 31st of last year
• Service: Weekly LawnMaintenance
• Quantity: 4 services delivered per month
• Service is taxable
• Deposit to UndepositedFunds
• Payment method: VISA
• NOTE: use the service as it is setup unless noted below
1. Create Sales Receipts for the following customers:
• Hewitt & Packer Office Complex. Price per service is Dh200.
• Anderson & Associates
• Big Time Constructions. Price per service is Dh100.
• Jackson Property Management. Price per service is Dh375.
• Johnson & JohnsonEvents
• Karlson Travel
• Melissa Helms of Sherwood Park Commons. Price per service is Dh550.
2. Make one deposit on May 31st oflast year for all of the above customers.
3. Aliceand Jondetermine that they needto offer discounts. Enable discounts in QuickBooks and make
sure they’re tracked to the Sales account.
4. AliceandJonwanttoedit theirinvoicenumbers.MakethechangeintheAccount & Settings.
5. Theaccountant does not want you to automatically apply credits against the oldest customers
invoices. She wants you to be able to apply the credits to specific invoices. Make the change in
QuickBooks.
6. Create invoices for the following customers using the weekly lawn maintenance service item. Note the
specific circumstances for each customer:
16
• Date: May 25th of last year
• Service: Weekly LawnMaintenance
• Taxable
• Qty: 4
7. Create invoices for the following customers:
• Barker Design (apply a 10% discount)
• White Wedding Chapel (apply a 15% discount)
• Sheraton Cavalier Markham (apply a 5% discount)
8. Elizabeth Barker emailed Jon and complained about the weekly services she’s been receiving.
She’s not happy. Even though she already received a discount, Jon decided to credit heraccount for
two weekly maintenance visits. Issue and credit memo and apply the credit memo against her
account. Enter the date as the May 31st.
9. Receive apayment from Elizabeth Barker for thedifference and deposit to undeposited funds on May
31st of last year. She paid with her visa card.
10. Receive payments in full from White Wedding Chapel and Sheraton Cavalier Markham on May 31st.
Both customers paid with Visa.
11. Deposit the3payments from ElizabethBarker,WhiteWeddingChapelandthe Sheraton Cavalier
Markham together on May 31st.
12. Robert Hitchcock called requesting a Dh50 refund because Alice broke a sprinkler head last month
that needstobereplaced.IssuetherefundonMay20thoflastyearviaDirectDebit.
13. JonwantstocreateStatementforcustomers.Createatransactionstatementforallcustomers.
14. Creating invoices and sales receipts is becoming challenging. Services are being missed and as a
result sales are being missed. Andrea, the accountant, suggests using the Delayed Charge
transactions. You decide to test the delayed charge before using for all customers. Create delayed
charges for the following customer:
• Customer: The MedievalCentre
• Dates: May 2nd, 9th, 16th, 23rd, 30th
• Service: Weekly LawnMaintenance
• Taxable
15. Createaninvoicefor theMedievalCentreusingtheDelayedChargesonthelastdayofMay of last
year.
16. Anewcustomerhasaskedforanestimate. Create anestimate foranewcustomer:
• Contact:
Russell Martinson Blue Jay Properties 500 Yonge St.
Toronto, ON. M4P 1A6
17. Create the estimate for May 1st oflast year using the following items:
• Hedge Trimming –Dh780
• Spring Cleaning –Dh4,500
• Fertilizer – Dh2,897
• Core Aeration –Dh1,200
18. Russell Martinson has approved the estimate. Mark it as accepted.
19. Copy the estimate to a new invoice dated on May 31st oflast year. NOTE: Copy the entire estimate to
theinvoice.
Tohelp manage their cashflow andspending, Green TreeLandscapes has signed upfor two visa cards.
1. Create a visa credit card for both Jon and Alice.
2. Record the following credit card transactions for Jon:
a. Office Suppliesat Office SuppliesDepotonthefirstdayofJunelast year. Amount:
Dh24 + tax.
b. Fuel at Fuel Step on June 5th of last year for Dh68 + tax.
c. Supplies at Home Depot on the June 10th of last year for Dh348 + tax.
d. Disposalfeefrom Waste UnlimitedonJune15th oflast year. AmountDh697+tax.
e. MealsandEntertainment fromSandwichLunchCo.onJune17thoflastyear.Amount:
Dh38.44 + tax.
3. Jonreturnedsomesupplies to HomeDepot forDh27.00+tax.Recordthecreditcardcredit. Date:
June 15th, of lastyear.
4. Entera billfrom Insurance Experts for liability insurance. The amount is Dh1,200. This isnot a
taxable expense. Enter the transaction on the 20th of June last year.
5. KarenfromInsuranceexpertsrealizedthequotewasoverstated,sosheissuedacreditfor
Dh200. Apply the credit against the bill and pay the bill to Insurance Experts and pay the bill on
June 25th oflast year. Use the next cheque in sequence.
6. Green Tree Landscapes has rented some space to setup a landscape yard as they are growing
quickly.TheywillpayrentofDh4,500+taxamonthtotheirnewlandlord.The landlordis
Brookfield
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Rentals.AddthenewsupplierandentertheexpenseforrentonfirstofJuneoflastyear.
7. Toautomate thistransaction, makethisarecurring entry in QuickBooks onthefirst dayof every
month from Toronto Savings & Loan. The lease is indefinite so there will be no end date to the
transaction.
8. Enter the following bills from suppliers in QuickBooks:
a. Canada Small Engine Repair
• Amount: Dh878.88 +tax
• Date:June25thoflastyear
• Account: Repair &Maintenance
b. Hank’s Courier
• Amount: Dh139 +tax
• Date: June 15th of last year
• Account: Freight andDelivery
c. Powerhouse Staffing
• Amount: Dh4,000 +tax
• Date: June 20th of last year
• Account: Subcontractors
d. Trash Unlimited
• Amount: Dh588 +tax
• Date: June 24th of last year
• Account: Disposal Fees
e. Talk Mobility
• Amount: Dh128.88
• Date: June 17th of last year
• Account: Telephone
9. Paythebills infullonthelast dayof Juneoflast year.(Handwrite chequesusing thenext cheque
number insequence.)
After rentingtheiradditional space, Green TreeLandscapes hasdecidedtoopenasmall landscape
centre to sell yard and garden products. This requires inventory tracking in QuickBooks. Each item for
salesthat’llbetracked,mustbesetupasaninventorypart.
1. Enable inventory tracking.
2. Create the following products using the following setup:
a. Sales Account: Sales
b. Inventory Account: InventoryAsset
c. Purchasing Account: Cost of Goods Sold
d. Initial Quantity on Hand: 0
e. As of Date: July 1st of last year
3. Name: Turf Edger
a. Sales Description: TurfEdger
b. Sales Price: Dh399.95
c. Tax: Taxable
d. Purchase Price: Dh187.66
e. Reorder Point: 5
f. Initial Quantity on hand: 0
4. Name: Gas Hedge Trimmer
a. Sales Description: Gas Hedge Trimmer
b. Sales Price: Dh299.95
c. Tax: Taxable
d. Purchase Price: Dh128.88
e. Reorder Point: 5
f. Initial Quantity on hand: 0
5. Name: Garden Shovel
a. Sales Description: GardenShovel
b. Sales Price: Dh39.95
20
c. Tax: Taxable
d. Purchase Price: Dh16.00
e. Reorder Point: 15
f. Initial Quantity on hand: 0
6. Name: PrunerLopper
a. Sales Description: PrunerLopper
b. SalesPrice:
Dh89.94
c. Tax: Taxable
d. Purchase Price: Dh32.87
e. Reorder Point: 10
f. Initial Quantity on hand: 0
7. Name: Stihl 2000 Lawn Trimmer
a. Sales Description: Stihl 2000 Lawn Trimmer
b. SalesPrice:
Dh299.95
c. Tax: Taxable
d. Purchase Price: Dh128.88
e. Reorder Point: 5
f. Initial Quantity on hand: 0
8. Name: HondaLawnmower
a. Sales Description: HondaLawnmower
b. SalesPrice:
Dh499.95
c. Tax: Taxable
d. Purchase Price: Dh277.10
e. Reorder Point: 5
f. Initial Quantity on hand: 0
9. Name: Evergreen Fertilizer
a. Sales Description: EvergreenFertilizer
b. Sales Price:
Dh39.95
c. Tax: Taxable
d. Purchase Price: Dh11.88
e. Reorder Point: 50
f. Initial Quantity on hand: 0
10. Name: True Blue Leaf Blower
a. Sales Description: True Blue Leaf Blower
b. Sales Price: Dh299.95
c. Tax: Taxable
d. Purchase Price: Dh130.09
e. Reorder Point: 10
f. Initial Quantity on hand: 0
11. Enable Purchase Orders if they’re not already enabled.
12. Createa Purchase Order forJohnson Suppliesfor the1stofJulyoflastyear.Order the following
inventoryparts: NOTE: Enablepurchaseorders(ifnotalreadyenabled).
a. Turf Edger –10
b. Evergreen Fertilizer – 100 bags
13. Create a newsupplier:
a. Contact:
Hanson Garden Supplies 723 Speers Road Oakville, ON. L6L 2X5
14. Order the followingitemsfromHansonon Garden SuppliesonJuly10thoflastyear.
a. Pruner Lopper – 15
b. GardenShovel –25
c. Gas Hedge Trimmer – 10
d. TrueBlueLeafBlower–15
e. Honda Lawnmower – 10
15. Receive against the PO for Johnson Supplies. Receive it in full on July 10th oflast year. Use the bill
form to receive the purchase order.
16. ReceivetheagainstthePurchaseOrderforHansonSuppliesonJuly20thoflastyear.You receivedall
theitemsexceptforthefollowingitemswerereceiveinpartialquantities:
a. True Blue Leaf Blower – 11 items
b. Garden Shovel –23
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17. Pay the bills for Johnson Supplies and Hanson Supplies in full on the last day of July oflast year. Use
the next cheque number in sequence.
18. Alicenoticescustomersarebuying severalgardentools at onetime. Shehas theideato bundle
several tools together as a Lawn Care Starter Kit. Create the Lawn Care Starter Kit with the
following items and quantities:
a. Honda Lawnmower – 1
b. Gas Hedge Trimmer -1
c. True Blue Leaf Blower – 1
d. Sales Description – Lawn Care Starter Kit
19. Createaninvoice for Robert Hitchcockfor theLawn Care StarterkitonJuly20thoflast year.
20. Receivepayment fromRobertHitchcockforpaymentagainst theaboveinvoiceonJuly31st. Deposit
itdirectly tothe Toronto SavingsandLoanaccount. ShepaidwithCheque #1381.
21. There was a heavy rainstorm at the Green Tree Landscapes yard and the roof of the inventory
shed was leaking. As a result, 3 Gas Hedge Trimmers were damaged. They cannot be sold and will
need to be disposed immediately. Andrea, the accountant, has asked you to write off the inventory
asof thelastdayofJulyoflast year.Maketheinventory adjustment toaccount for thedamaged
inventory items. Andrea, the accountant, asked you to use an Inventory Write-Off expense account
(Tip:youmayhavetousetheChartofAccountsto create the newaccount).
22. Alice and Jon want to know the value of the inventory. Create the report and save it as a customized
report call Inventory Valuation Detail July.
23. Alice wants to count the inventory each month. She’d like a list ofinventory parts of today. Save the
report as a custom report name: Inventory Count Report July.
After7busymonths,JonandAliceneedtoreviewtheirbusiness indetail.They’regoingtocreate several
reports to review and make important decisions.
1. Createa Balance Sheet asof August 1st oflast year. Savethecustomized report asBalance Sheet
August 1st.
2. Createa Profit& Lossreport fromJanuary1st toJuly31stoflastyear.Savethecustomized report as
Profit & Loss Year-to-Date.
3. Create an Accounts Receivable Aging Summary as of July 31st last year. Save the customized report AR
Aging Summary July 31st.
4. CreateanAccountsPayableAgingSummaryasofJuly31st.SavethecustomizedreportAP Aging
Summary August31st.
5. CreateaSalesbyCustomerDetail report for thedaterangeofJanuary1st toJuly31stoflast year.
Save the reports as Sales by Customer Detail Year-to-Date.
6. Alice loves using Microsoft Excel to do data analysis. She asks for the Profit & Loss in excel format.
Create the report in Excel and email if to your instructor.
7. Andrea wants to see the Profit & Loss report in .pdfformat. Create the report and email it to your
instructor.
8. Andrea wants to receive weekly reports mailed to her every Monday morning. Setup a group of all the
above listed reports and schedule them to be sent to your instructor on a regular schedule (See
instructor for further instructions).
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