REFERENCE BOOK

CHAPTER

INSTRUCTIONS,

FLOWCHARTS

AND LEDGERS BOOK

HAND-IN*

1 & 2

3

PART 1

You are following Option 1 on pages 10 and 11 of the Instructions, Flowcharts and Ledgers book.

Read Introductory information, pages 3-12, 16 and scan 25-43. Scan through all documents in the Documents Folder. Your instructor will tell you which version of Document No. 1 to use – blue or green. Destroy the other version.

Carefully read Option 1, page 10.

Go through all transactions on the transactions list (Document No. 1) and write S & CR, P & CD, or PR beside each transaction as follows:

$ Sale, sales return, cash receipt, or charge-off (S & CR)

$ Purchase of goods or services or cash disbursement, except for payroll (P & CD)

$ Payroll (PR)

Every transaction must be identified as one of these three types.

Sales and Cash Receipts

Study flowcharts on pages 18-21.

Complete the seven-step process for recording a transaction on pages 11 and 12 for all sales and cash receipts transactions on the transactions list.

Complete WAREN’S MONTH-END PROCEDURES 1, 2, 5, 6, and 7 on pages 12 and 13 for sales and cash receipts only.

Complete WAREN’S YEAR-END PROCEDURE 6 on page 15 (accounts receivable aged trial balance only using an excel spreadsheet. Make sure this spreadsheet is uploaded separately or included as a worksheet tab with your electronic worksheet and financial statements that you will hand in at the end of the whole assignment.)

Due: ____________________________

Schedules showing balances in the following general ledger accounts: 10100, 10200, 10300, 30100, 30200, 30300.

Accounts receivable aged trial balance.

Sales and cash receipts journals, finalized.

4 & 6

PART 2

Purchases and Cash Disbursements

Study flowcharts on pages 22 and 23.

Complete the seven-step process for recording a transaction on pages 11 and 12 for purchases and cash disbursements on the transactions list.

Complete WAREN’S MONTH-END PROCEDURES 1, 2, 5 and 6 on pages 12 and 13 for purchases and cash disbursements only.

Complete WAREN’S YEAR-END PROCEDURE 6 on page 15 (accounts payable and fixed asset trial balances only).

Due:

Schedules showing balances in the following general ledger accounts: 10100, 10800, 20100, 30500, 30600, 30700, 30800, 40200, 40300, and 41000.

Accounts payable and fixed asset trial balances.

Purchases and cash disbursements journals, finalized.

5

PART 3

Payroll and Month-end Procedures

Study flowchart on page 24.

Complete the seven-step process for recording a transaction on pages 11-12 for all payroll transactions on the transactions list.

Complete all WAREN’S MONTH-END PROCEDURES on pages 12 and 13 not yet completed.

Due:

Payroll journal, finalized.

1

PART 4

Year-end Procedures and Completing the Project

Complete all WAREN’S YEAR-END PROCEDURES on pages 13 through 15 not yet completed.

For the worksheet and financial statements, do the Electronic Spreadsheet assignment. Even though you have adjusting entries in the electronic worksheet, you must still write in the adjusting journal entries into the general journal and post them to the general ledger accounts by hand.

Do WRAPPING UP on page 15.

DO not forget to do closing entries in the general journal and post the to the general ledger accounts. Remember close (zero out) all revenue, expense, dividend accounts. The offsetting amounts increase or decrease retained earnings.

Do WRAPPING UP on page 15.

Due:

Entire project including all schedules, ledgers, journals, and filed documents and records.

Exception: Do not turn in Reference book.

*All documents and records are to be filed following the instructions on the front of the Documents Folder.