Omnis Mus Problem Advanced A1 (--> use with TXBASE01.MDB)
General journal entries can be entered using either transaction analysis format or debit credit format. Transaction analysis format is the initial setting. This preference can be changed from the Main Menu (click Options), and/or from the keyboard used to input numbers in a general journal transaction (click Format).
1. Enter the following transactions into the general journal.
All of the following may be dated June 12.
1a. Purchased $1,526.39 of Supplies on account for use in the business. Your journal entry should increase Account 20200 Miscellaneous Accrued Expense payable.
1b. A cash payment of $1,301.58 was made for previously accrued expenses. Your journal entry should decrease Account 20200 Miscellaneous Accrued Expense payable.
1c. Record cash payment for the following expenses:
- $151.55 for Property Taxes expense
- $128.32 for Utilities expense
2. Order Processing
Open the Orders form. The orders form functions as a sales journal. Orders become sales when the order is shipped and shipping charges are entered into the order.
a: Enter shipping charges for the following orders:
(Click Options, Edit Order in Record mode. Shortcut: double-click the shipping field)
- 1007 $28.17
- 1008 $19.25
- 1009 $15.00
- 1010 $48.72
b: Post Sales (shipped orders)
To post orders, click Options and then click Post. Only orders with shipping charges (meaning that the order has been shipped) will be posted.
3. Order Processing - Additional Transactions
Enter the following items into the Orders form.
None of these orders have been shipped.
Order number 1011
Customer: Swan Games (12144)
Date: 6/12
Order type: phone
Items:
30 3023469877 Molly's Bridge
40 4655412007 Bridge Assistant
26 7800100100 Omar'sBridge
30 8077680800 Network Bridge
Order number 1012
Customer: Game Village (12142)
Date: 6/12
Order type: fax
Items:
100 2090515010 BridgeChamp
60 4098048900 CheckerBrain
40 5400922555 SpaceBridge
Order number 1013
Customer: Arrow Electronic (12139)
Date: 6/12
Order Type: mail
Items:
10 6088806500 VisualChess
25 8077680800 Network Bridge
Order number 1014
Customer: Video Boutique (12103)
Date: 6/12
Order Type: phone
Items:
100 0834210205 BridgeGuest
120 8923405000 BridgePrince
Order number 1015
Customer: Bridge Things (12145)
Date: 6/12
Order Type: fax
Items:
15 6088805600 VisualBridge
200 7034554666 Bridge Mus
20 8077680800 Network Bridge
30 8097643400 Omnus Bridge
Order number: 1016
Customer: Queen's (12131)
Date: 6/12
Order Type: email
Items:
40 1713621000 ChessBrain
24 2090515020 ChessChamp
30 2304500010 Interactive Chess
210 4098048900 CheckerBrain
30 4509833050 ChessStar
10 6088806500 VisualChess
4. Receipts on Account
Open the Receipts on Account form.
a: Enter the following receipts.
Number: 1009
Customer: 12146 Brainy Games
Date: 6/12
Credit: 26.50
Cash: 1,200.00
Number: 1010
Customer: 12131 Queen's
Date: 6/12
Credit: 10.00
Cash: 1,300.00
Number: 1011
Customer: 12122 Gamemeister
Date: 6/12
Credit: 140.00
Cash: 8,000.00
Number: 1012
Customer: 12145 Bridge Things
Date: 6/12
Credit: 304.00
Cash: 1,250.27
Number: 1013
Customer: 12142 Game Village
Date: 6/12
Credit: 0.00
Cash: 2,500.00
b: Post Receipts
To post receipts, click Options and then click Post.
Only receipts not previously posted will be posted.
5. Purchases
Open the Purchases form.
a: Enter freight charges for the following purchase orders:
(Click Options, Edit Order in Record mode. Shortcut: double-click the shipping field)
- 1007 $12.25
- 1008 $2.15
- 1009 $3.50
- 1010 $4.80
b: Post Purchases
To post purchase orders, click Options and then click Post. Only orders with freight charges (meaning that the purchase order has been received ) will be posted.
6. Purchase Order Processing - Additional Transactions
Enter the following Purchase Orders. None of these purchase orders have been received.
Number: 1011
Vendor: 17136 MollyWare
Date 6/12
Order type: fax
Items:
50 1713620500 BridgeBrain
12 1713621000 ChessBrain
Number: 1012
Vendor: 45098 Game Bits
Date: 6/12
Order type: fax
Items:
60 4509833050 ChessStar
40 4509833100 BridgeStar
Number: 1013
Vendor: 46554 Eagle Software
Date: 6/12
Order type: fax
Item:
24 4655412007 Bridge Assistant
Number: 1014
Vendor: 80776 Bytes are Fun
Date: 6/12
Order type: fax
Item:
36 8077680800 Network Bridge
Number: 1015
Vendor: 60888 Kiss Sofware
Date: 6/12
Order type: fax
Items:
40 6088805600 VisualBridge
20 6088806500 VisualChess
Number: 1016
Vendor: 30234 Hollin Company
Date: 6/12
Order type: phone
Items:
40 3023469877 Molly's Bridge
7. Payments to Vendors
Open the Payments to Vendors form.
a: Enter the following payments.
Number 1007
Vendor 23045 Snow Software
Date: 6/15
Credit 50.00
Cash: 950.00
Number 1008
Vendor 70345 Good Stuff
Date: 6/15
Credit 0.00
Cash: 900.00
Number 1009
Vendor 23312 Fine Programs
Date: 6/15
Credit 0.00
Cash: 3,000.00
Number 1010
Vendor 15212 SpaceCat
Date: 6/15
Credit 60.00
Cash: 700.00
b: Post Payments
To post payments, click Options and then click Post. Only payments not previously posted will be posted.
8. Order Processing on June 30
Open the Orders form.
a: Enter shipping charges for the following orders:
- 1011 $102.39
- 1012 $75.49
- 1013 $52.00
- 1014 $18.25
- 1015 $50.00
- 1016 $50.00
b: Post Sales orders (shipped orders)
To post orders, click Options and then click Post.
9. Purchase Order Processing on June 30
Open the Purchase form.
a: Enter freight charges for the following orders:
- 1011 $5.48
- 1012 $16.36
- 1013 $1.89
- 1014 $88.18
- 1015 $25.25
- 1016 $2.35
b: Post Purchase Orders
To post purchase orders, click Options and then click Post.
10. Enter the following transactions in the general journal.
All of the following may be dated June 30.
10a. Record the payroll for the month:
Total Salaries are $10,500.00. Of this, $898.50 is being withheld as Accrued Payroll-Taxes, and $543.14 is being withheld as Accrued Payroll-Other. The remainder is payable to employees and should be recorded in the liability account Accrued Payroll.
10b. Record the employer's payroll tax expense, which is 10% of total salaries for the month. Increase Payroll Taxes expense and the liability account 20300 Taxes Payable
10c. Record Depreciation expense of $1,200 for the month.
10d. Record $300.00 cash received for services on June 30 as Other Revenue.
10e. An aging analysis was performed to estimate bad debts expense. There should be a $750 allowance for bad accounts as of June 30.
10f. Supplies were counted and found to be $2,800 at June 30.
10g. The following items were paid in cash on June 30: $500.00 for Janitorial expense; $500.00 for Advertising expense.
10h. Record a cash payment of $1,871.98 made for liabilities which were previously recorded as Miscellaneous Accrued Expense.
10i. Record a $12,000.00 cash payment made to reduce Long Term Debt.
10j. Declared a cash dividend of $1,250, payable July 31. (35009 Dividends Declared is a contra-equity account)
10k. Accrue the following expenses. Increase the liability account 20200 Miscellaneous Accrued Expense for each expense unless there is a specific liability account for the expense in the general ledger. If an expense has a prepaid balance in the general ledger, properly reflect the reduction of the prepaid balance in your journal entry.
- 10k1. Insurance expense $350.00
- 10k2. Interest expense $1,250.00
- 10k3. Miscellaneous expense $128.75
- 10k4. Rent expense $1,250.00
- 10k5 Shipping expense $1,200.68
11. Close Accounts: Prepare Statements
Open the general ledger, and click Options. Click Close Accounts. Financial statements may be viewed after closing from the Report form. Review the financial statements, and correct any errors as necessary.
If you make any corrections, then you must Close Accounts again to have the financial statements updated for your corrections. You may Close Accounts as often as you wish.
PLEASE NOTE:
Post Closing Entries will zero all revenue and expense accounts. Do not Post Closing Entries until you are certain that you are finished with your assignment. If in doubt, do not Post Closing Entries. You do NOT have to post Closing Entries to produce financial statements.