Homework answers / question archive / ACCT 152 – Assignment 2 – AP Module Part A: Download the Database file from Blackboard:  Go to Quizzes and Test on your blackboard site,  Click on Assignment 2 and download the company file

ACCT 152 – Assignment 2 – AP Module Part A: Download the Database file from Blackboard:  Go to Quizzes and Test on your blackboard site,  Click on Assignment 2 and download the company file

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ACCT 152 – Assignment 2 – AP Module

Part A: Download the Database file from Blackboard: 

1. Go to Quizzes and Test on your blackboard site, 
2. Click on Assignment 2 and download the company file. (Company file will be downloaded as a zipped file)
3. Locate the downloaded file, copy the folder to C Drive or on your desktop
4. Unzip the folder 
5. Open the 03 C3B-2 China file using Sage 50 2018.0 with session date as March 01. 
6. Once you are inside the company file, rename the company to “China– Your first and last name”

Please Note: 

• • Any report saved without the name will be marked as Zero
  • All reports must be in PDF format, when you export the report, make sure you select the report type as PDF.

Part B: Company’s background: 

The China Company sells various kinds and sizes of china for everyday use and for special occasions. Apply 13% HST to sales. Terms for non-retail sale customers are 2/10, net 30. Vendor invoices normally have terms of 2/10, net 30, except where additional information is given. 

All sales invoices and cheques are issued in numerical order. China Company does not print invoices or cheques. The company does not use the Shipped field in Purchase Invoices. Cash discounts when appropriate are calculated on the cost price before HST. You normally work on March 5, 12, 19, 26 and March 31. You advance the session date when you open the data file.

Part C: Enter the following transactions: 

 

Mar 1	Issued Purchase order #106 to BNS Printing Ltd. for new invoices with a revised logo. Delivery date is Mar 5. Cost of the new invoices will be $100.00, plus HST, with terms 2/10, net 30.
Mar 1	Advertisement in today's issue of Yourtown Newspaper, a new vendor, 5569 Ace Avenue, Yourtown, Ontario L5N 1X6, contact Stanley Faria. Invoice #1099 received for $200.00, plus HST. Terms Net 15 days. Use an appropriate account for the default Expense field.
Mar 2	Purchased 30 dinner plates, code DP-01, at $25.00 each, plus HST, from Specialty

Manufacturer Ltd. All plates were received in good condition. Invoice #361 dated today with terms of 2/10, net 30.

Mar 3	Sold on invoice #5270, one Luncheon Service, code LSS-01, to a new customer, Your Actual Name, 85 Lake Avenue, Rockton, Ontario L6N1B9. The selling price is $1,000.00, plus HST.  Your Actual Name will pay the net amount in 15 days. Credit limit $3,000.00.
Mar 5	The new invoices from BNS Printing ordered on PO#106 are received in good condition with invoice #875 dated today.
Mar 5	We returned 4 plates from the Mar 2 order from Specialty Manufacturer Ltd., because the pattern is not centred. Original cost of the plates was $25.00 each, plus HST.
Mar 6	Sold 1 dozen soup bowls, SB-01, at $15.00 per bowl, plus HST, to Plates and More. Normal terms.
Mar 6	Issued cheque to pay Receiver General the HST owing at the end of February. You may have to click the All Accounts button at the bottom of the Select Account window, to display other accounts.
Mar 7	Plates and More returned 5 of the soup bowls because they arrived damaged. We have called the shipping company to determine what happened. Plates and More have requested a reduction to their account. We accepted the returned bowls by issuing a credit note with the original Invoice number as a reference.
Mar 8	Issued an $800.00 cheque to Mary Opal, owner, based on a memo received. The money is for personal expenses.
Mar 12 Issued cheque to Specialty Manufacturer Ltd. to pay only for dinner plates purchased, after

returns, on invoice #361.

Mar 15  Issued cheque to pay BNS Printing Ltd. for invoice #875.

Part F: Export the required reports 

1. Create a folder on your desktop or C drive “ACCT_A2_Reports_Backup”
2. Export the following reports as a PDF:  (Please see the guide to save and export the report as

PDF)

1. 1. All Journal entries for month of Mar (Mar 01 to Mar 15 (no correction) (File Name

“R1_Yourlastname_All_JEs.”)

1. 2. Cash flow projections for next 30 days (File Name “R2_Yourlastname_cash_flow”)

Part G: Save the backup file:

1. Save the backup file on your desktop
2. Go to file -> click on backup ->
   1. File name: “A2_China_yourlastname”
   2. Location – Save the file at the same place you saved other reports.

Part H: Upload the files on blackboard

1. Go to Quizzes & tests -> Assignment 2 -> A2 dropbox
2. Scroll down to Assignment Submission, click on brose my computer 
3. Locate the files saved under Part C and D
   1. R1_Yourlastname_All_JEs (PDF)
   2. R2_Yourlastname_cash_flow (PDF) 
   3. A2_China_yourlastname (company datafile backup)
4. And then click Submit. 

Note: All assignments are to be completed independently by you, any coping or using somebody’s else files will be considered as Plagiarized and could result into academic penalty for both the students.