Homework answers / question archive / Source Documents Chapter 3 June 1 – June 7, 2023 ? SD1: Bank Credit Memo #CM-8902 Dated June 1, 2023 102 From Literary Credit Union, a $5,000

Source Documents Chapter 3 June 1 – June 7, 2023 ? SD1: Bank Credit Memo #CM-8902 Dated June 1, 2023 102 From Literary Credit Union, a $5,000

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Source Documents
Chapter 3
June 1 – June 7, 2023
? SD1: Bank Credit Memo #CM-8902 Dated June 1, 2023
102 From Literary Credit Union, a $5,000.00 short term loan at 6 percent interest approved
for a large book purchase. Amount deposited to the Bank Chequing account.
You will
use the Account Register to enter this transaction. You can access the Account Register
from the Chart of Accounts.
? SD2: Memo #6-1 Dated June 1, 2023
108 From Owner: The owner withdrew $250.00 cash to buy birthday gifts for his twin
daughters. Create a new equity account: Drawings, Bob Bestseller. Add a General
Journal icon to the Icon bar.
SD3: Write Cheque Dated June 1, 2023
To pay for purchase received with Bill #CC-201 from Canvas Crafts for $440.00 plus $66.00
HST for printed canvas book bags. The bill totalled $506.00. Wrote Cheque #436 to pay
the bill in full. Remember to click the Print Later box to remove the checkmark and turn
this option off so that the cheque will not be available for batch printing.
SD4: Write Cheque Dated June 1, 2023
To pay for purchase received with Bill #BCH-211 from Book Clearing House (use Quick
Add to add the new vendor) for $4,200.00 plus $210.00 HST (as indicated earlier in the
chapter, only 5% HST is paid on books) for remaindered books. The bill totalled $4,410.00.
Wrote Cheque #437 to pay the bill in full.
SD5: Sales Receipt #615 Dated June 4, 2023
Sold to Shelley Byron (use Quick Add to add the new customer) for $270.00 plus $13.50
HST for books and $20.00 plus $3.00 HST for canvas book bags. The total of $306.50 was
paid in full by Cheque #138 and deposited to the Bank Chequing account. Remember to
click the Print Later box to remove the checkmark and turn this option off so that the sales
receipt will not be available for batch printing.
SD6: Memo #6-2 Dated June 5, 2023
From Owner: Add the Sales Receipt icon to the Icon bar and customize the Sales Receipt
Journal by removing the Quantity and Rate columns.
SD7: Write Cheque Dated June 5, 2023
To pay for purchase received with Bill #S-444 from Signals for $750.00 plus $112.50 HST
for designing ads to run in a local newspaper. The bill totalled $862.50. Wrote Cheque
#438 to pay the bill in full.
SD8: Memo #6-3 Dated June 5, 2023
From Owner: Owner withdrew $150.00 cash to buy decorations and cake for daughters’
birthday party.
Notes
Source Documents with
a ? indicate that step-by-step
instructions for entering these
transactions can be found in the
chapter. The number underneath
these boxes indicates the
page number where the source
document is found.
Notes
Turn the Print Later option
off for ALL cheques entered in
this chapter.
Notes
Turn the Print Later
option off for ALL Sales
Receipts entered in this lesson.
2 Source Documents – Chapter 3
SD9: Sales Receipt #616 Dated June 7, 2023
Sales to cash customers in past week, $4,490.00 plus $224.50 HST for books and $260
plus $39.00 HST for book bags. All customers paid cash for their purchases. Sales
totalling $5,013.50 were deposited to the Bank Chequing account.
? SD10: Memo #6-4 Dated June 7, 2023
115 From Owner: Memo #6-3 (entered in SD8) was entered incorrectly. The amount withdrawn
for personal reasons was $180.00. Edit the journal entry for Memo #6-3 to make the correction.
Do not change the date of the original journal entry.
? SD11: Bank Debit Memo #DM-3771 Dated June 7, 2023
116 From Literary Credit Union: For monthly bank service charges, $25.00 was withdrawn from the
Bank Chequing account. Create a new Expense account: Bank Charges (leave tax code blank).
SD12: Bank Debit Memo #DM-3779 Dated June 7, 2023
From Literary Credit Union: For interest on long term loan, $180.00 was withdrawn from
the Bank Chequing account.
SD13: Memo #6-5 Dated June 7, 2023
From Owner: Paid $280.00 in cash to various customers for books during the week. No
HST was included in the purchase because the customers were not registered to collect
HST. Use the General Journal for this transaction and choose Cash Customers in the Name
field. Be sure to leave the Billable column unchecked.
June 8 – June 14, 2023
SD14: Sales Receipt #617 Dated June 9, 2023
Sold to Chaucer Shakespeare (use Quick Add for the new customer), $860.00 plus $43.00
HST for books and $40.00 for book bags plus $6.00 HST. Sales total of $949.00 was paid
by Cheque #684 and deposited to the Bank Chequing account.
SD15: Memo #6-6 Dated June 12, 2023
From Owner: Water entered the store from an open window and damaged a number of
books in the store. The value of damaged inventory was estimated at $620.00. Create a
new Expense account: Inventory Losses.
SD16: Write Cheque Dated June 13, 2023
To pay for purchase received with Bill #SHN-3095 from Signal Hill News (use Quick Add
for the new vendor) for $900.00 plus $135.00 HST for weekly series of ads to run for three
months. The bill totalled $1,035.00. Wrote Cheque #439 to pay the bill in full. Charge to
Prepaid Advertising.
SD17: Bank Debit Memo #DM-4982 Dated June 14, 2023
From Literary Credit Union: Preauthorized payment of $1,500.00 to reduce principal
owing on short term bank loan was withdrawn from the Bank Chequing account.
SD18: Write Cheque Dated June 14, 2023
To pay for purchase received with Bill #OAC-718 from Oswald’s Auto Centre (use Quick
Add for the new vendor) for $80.00 plus $12.00 HST for fuel and $110.00 plus $16.50 HST
for regular maintenance service of business automobile. The bill totalled $218.50. Wrote
Cheque #440 to pay the bill in full. Create new Expense account: Vehicle Maintenance
(choose H as the default tax code).
Source Documents – Chapter 3 3
SD19: Sales Receipt #618 Dated June 14, 2023
Sales to cash customers in past week, $6,200.00 plus $310.00 HST for books and $300.00
plus $45.00 HST for book bags. All customers paid cash for their purchases. Sales totalling
$6,855.00 were deposited to the Bank Chequing account.
June 15 – June 21, 2023
SD20: Write Cheque Dated June 15, 2023
To pay for purchase received with Bill #SC-98998 from Signal Communications for
$210.00 plus $31.50 HST for monthly telephone bill, including Internet and mobile phone
charges. The bill totalled $241.50. Wrote Cheque #441 to pay the bill in full.
SD21: Memo #6-7 Dated June 15, 2023
From Owner: Another small batch of water-damaged books was found. The value of damaged
inventory was revised to $750.00. Edit Memo #6-6 to make the correction.
SD22: Memo #6-8 Dated June 15, 2023
From Owner: Paid $380.00 in cash to various customers for books during the week. No
HST was included in the purchases because the customers were not registered to collect
HST. Use the General Journal for this transaction and choose Cash Customers in the Name
field. Be sure to leave the Billable column unchecked.
SD23: Sales Receipt #619 Dated June 18, 2023
Sold to Austen Bronte (use Quick Add for the new customer), $530.00 plus $26.50 HST for
books and $40.00 plus $6.00 HST for canvas book bags. Sales total $602.50 paid in full by
Cheque #6102 and deposited to the Bank Chequing account.
SD24: Write Cheque Dated June 20, 2023
To pay for purchase received with Bill #OE-216 from Office Essentials for $240.00 plus
$36.00 HST for printer cartridges, paper, and invoice forms. The bill totalled $276.00.
Wrote Cheque #442 to pay the bill in full.
SD25: Sales Receipt #620 Dated June 21, 2023
Sales to cash customers in past week, $5,900.00 plus $295.00 HST for books and $420.00
plus $63.00 HST for book bags. All customers paid cash for their purchases. Sales totalling
$6,678.00 were deposited to the Bank Chequing account.
SD26: Bank Debit Memo #DM-5118 Dated June 21, 2023
From Literary Credit Union: For interest on short term bank loan, $45.00 was withdrawn
from the Bank Chequing account.
SD27: Write Cheque Dated June 21, 2023
To pay for purchase received with Bill #KCMS-455 from Keep Clean Maintenance Services
(use Quick Add for the new vendor) for $440.00 plus $66.00 HST for contracted store cleaning
service for one month. The bill totalled $506.00. Wrote Cheque #443 to pay the bill in full.
June 22 – June 30, 2023
SD28: Memo #6-9 Dated June 22, 2023
From Owner: Paid $445.00 in cash to various customers for books during the week. No
HST was included in the purchase because the customers were not registered to collect
HST. Use the General Journal for this transaction and choose Cash Customers in the Name
field. Be sure to leave the Billable column unchecked.
4 Source Documents – Chapter 3
SD29: Sales Receipt #621 Dated June 25, 2023
Sold to Atwood Ondaatje (use Quick Add for the new customer), $380.00 plus $19.00 HST
for books and $20.00 plus $3.00 HST for canvas book bags. Sales totalling $422.00 were
paid in full by Cheque #249 and deposited to the Bank Chequing account.
SD30: Write Cheque Dated June 26, 2023
To pay for purchase received with Bill #MU-1649 from Memorial University (use Quick
Add for the new vendor) for $1,250.00 plus $62.50 HST for used books. The bill totalled
$1,312.50. Wrote Cheque #444 to pay the bill in full.
SD31: Write Cheque Dated June 28, 2023
To pay for purchase received with Bill #OAC-1020 from Oswald’s Auto Centre for $70.00
plus $10.50 HST for fuel for business automobile. The bill totalled $80.50. Wrote Cheque
#445 to pay the bill in full.
SD32 Sales Receipt #622 Dated June 29, 2023
Sales to cash customers in past week, $6,900.00 plus $345.00 HST for books and $360.00
plus $54.00 HST for book bags. All customers paid cash for their purchases. Sales totalling
$7,659.00 were deposited to the Bank Chequing account.
SD33: Memo #6-10 Dated June 30, 2023
From Owner: Paid $310.00 in cash to various customers for books during the week. No
HST was included in the purchase because the customers were not registered to collect
HST. Use the General Journal for this transaction and choose Cash Customers in the Name
field. Be sure to leave the Billable column unchecked.
? SD34: Memo #6-11 Dated June 30, 2023
120 Complete an adjusting entry for the following inventory and supplies used during the month:
SD35: Memo #6-12 Dated June 30, 2023
From Owner: Enter the adjustments for the following expired prepaid expenses:
Advertising $1,100.00
Insurance 1,250.00
Rent 850.00
? SD36: Memo #6-13 Dated June 30, 2023
122 From Owner: Complete an adjusting entry for six months of depreciation on fixed assets.
Create a new Expense account: Depreciation Expenses (leave the sales tax code blank). Use
the calculator to calculate the total depreciation amount.
Books $11,900.00
Canvas Bags 500.00
Paper and Plastic Bags 245.00
Office Supplies 140.00
Automobile $2,295.00
Computer Equipment 1,020.00
Store Furniture and Fixtures 1,425.00