help with exercise on quickbooks chapter 5 1

Exercise 5-1: Follow the instructions below to complete Exercise 5-1:

If necessary start QBO.
Add the following customers

Company:
Main Office Depot

Display name as:
Main Office Depot

Print on check as
(Use display name)

Phone:
312-555-8911

Street:
4123 Broadway

City/Town:
Chicago

State:
IL

ZIP:
60290

Country:
USA

Shipping address
(Same as billing address)

Company:
WebPro

Display name as:
WebPro

Print on check as
(Use display name)

Phone:
505-555-5311

Street:
18 Alameda Road

City/Town:
Santa Fe

State:
NM
page 245

ZIP:
87501

Country:
USA

Shipping address
(Same as billing address)

To enter the 12/1 checks and ATM, use the transaction register. Before entering checks, make sure your Checking account register shows the same 11/30 balance, $61,469.59, as the transaction register. (Hint: Chart of Accounts displays > 101 Checking.) When necessary, type the appropriate payment amounts, ATM, and check number.

After recording the 12/1 transactions, display the Bank Register for Account 101 Checking. (Hint: From the Navigation bar, select Accounting > on the Chart of Accounts double-click 101 Checking.) Make sure your ending balance is $61,001.16. If not, edit checks.Before entering the transactions on the next page, make sure the Checking account register shows $61,001.16.

page 246

If needed, Checks can be edited by drilling down from the Vendors Page or Audit Log.

Comment: Payments to vendors are similar to receiving payments from customers. Go to the Vendor’s page, select the appropriate bill and then make a payment.

Date
Description of Transaction

12/1/20XX
Paid the vendor, AmpleStore Inc. for Bill No. AS7, $300, Ref no. 1041. (Hint:Expenses > Vendors > AmpleStore > Make payment. When you uncheck Bill # AS12, the bill you want to pay, AS7, is checked.)

Click <Save and new>.
Exercise 5-2: Follow the instructions below to complete Exercise 5-2:

Export these reports to Excel and PDF. Run most of the reports from 10/1/20XX to 12/1/20XX, or as shown below. (Hint: When the report needs as As of date, use 12/1/20XX)

page 249
Check Your Figures (from 10/1/20XX to 12/1/XX):

Account 101 Checking, $63,581.16
Account 105 Accounts Receivable, $1,410.00
Account 115 Merchandise Inventory, $10,155.00
Account 201 Accounts Payable, $16,900.00
Account 401 Sales, $24,330.00
Account 501, Cost of Goods Sold, $9,165.00
Account 621 Office Supplies, $460.42
Total Liabilities and Equity, $94,146.16
Net Income, $12,246.16

 
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