Homework answers / question archive / In this exercise, you will be catching up on Melanie’s bookkeeping and will complete any outstanding recurring transactions and make bill payments and receive payments to prepare for the reconciliation of her bank account through the end of July 2026

In this exercise, you will be catching up on Melanie’s bookkeeping and will complete any outstanding recurring transactions and make bill payments and receive payments to prepare for the reconciliation of her bank account through the end of July 2026

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In this exercise, you will be catching up on Melanie’s bookkeeping and will complete any outstanding

recurring transactions and make bill payments and receive payments to prepare for the reconciliation

of her bank account through the end of July 2026.

1. Use the recurring transaction for the loan payment transfer to post July’s transfer.

2. Record cheque #10025 for prepaid rent expense to We Work Space for the period of July

to December 2026, dated July 1, 2026, in the amount of $3,300 plus HST.

3. Record a journal entry dated July 31, 2026, to allocate the July portion of the rent to the

Rent or lease payments expense account and make it recurring for the next five months to

December 31, 2026.

Hint: You can use the preexisting recurring transaction for rent you already had, that expired,

then edit it for the new period.

4. Receive payment via e-transfer (add a new payment method) from H2H for six weeks

of their weekly flowers; $1,220.40 goes directly into the TD Operating Accounting on

June 23, 2026.

5. Post the weekly invoices for H2H for all of June and July 2026, starting date June 5, 2026;

use your recurring transaction.

Hint: You can also use the Copy function in the More menu after posting the first transaction.

Ba CHECK FIGURE Your figures should match those shown here, as at July 31, 2026:

TD Operating $3,662.24

Accounts Payable | $982.60

TD VISA $633.14

TD Savings $1,000.00
Reconcile the Bank Account

) In this exercise, you will reconcile the TD Operating account for the months of January 2026 through

July 2026. Melanie has given you the bank statements. Looking at them, you notice that Melanie has

a $5/month bank charge that starts at the end of January.

1. Beginning with January 2026, get the TD statements from your Chapter 06 folder and

prepare to reconcile the TD Operating account for each month individually, up to July 2026.

2. Enter the $5 bank charge in the service charge or interest area, dated the end of each

month, before you start reconciling. Remember to do this for each month you are

reconciling.

Enter the service charge or interest earned, if necessary

Deto* Service charge Expense account

re cherges

3. Complete the seven reconciliations. Keep in mind that even though a cheque has been

written on one date, it isn’t necessarily cashed in the same month.

4. Runa reconciliation report for the month of July 2026; to do this, you must go to the Bank

Register and click Export to Excel, saving in your Chapter 06 folder as: CHO6 July

Bank Recon

5. Runa Transaction List by Date report for all dates, grouping by transaction type; export

to Excel, saving in your Chapter 06 folder as. CHO6 Transactions to

Date July

EZ CHECK FIGURE Your figures should match those shown here as at July 31, 2026:

ac

TD Operating Account $3,627.24

Accounts Payable $982.60

Apply Your Skills 171

meee

REINFORCE YOUR SKILLS 6-3

Rec

oncile the Credit Card Statement

Melanie has given

ou the recent .

 

use the store y creait card statement from TD VISA. In this exercise, you will

 

ment, shown here and included in your Chapter 06 fold

 

reconcile the credit card | p older as CHO06 TD VISA Stmt, to

 

; cara account with the QuickBooks account.

TD VISA

Statement Date July 31, 2026

Mak .

axe payments to: Oue Date August 31, 2026

TD VISA -

Toronto, ON CANADA Minimum Due $14.00

Balance $ 633.14

 

SR I

Transaction

 

Date Posting Date Description Debits Credits and Payments

01/07/26 01/07/26 Annual Fee 20.00

 

05/07/26 05/07/26 M. Tierney 163.85

 

07/07/26 07/07/26 Special Events 439.68

 

10/07/26 10/07/26 Special Events 53.39

 

15/07/26 15/07/26 AW Accounting 113.00

 

25/07/26 25/07/26 Payment Rec'd 50.00

 

736.53 103.38

633.14

 

Beginning

Balance Payments New Charges New Balance

$ - $ 50.00 § 736.53 $ 633.14

 

1. Click Reconcile>Get Started—Let's Do It.

 

2. Enter the statement ending balance and date and then click Start Reconciling.

 

3. Verify that a checkmark is placed to the right of each transaction that appears on the

statement and that the Difference Is 0.00. You may need to uncheck a transaction that is

not on your statement.

 

=. Chart of accounts > Credit carc egister > Reconcile

Reconcile TDVISA. -$73653 $103.37 © $000, Gane GED

: Statement ending date: July 31, 2026 4 CHARGES 2 PAYMENTS DIFFERENCE

- a Snow me 370.7

o we X Statement ending date Clear filter / View -

a oATE CLEARED DATE «TYPE REFNO. ACCOUNT PAYEE MEMO (} —s cHARGE(C PAYMENT( «=

01/07/2026 01/07/2026 Expense Bankcharges Annual Fee 0 moe 9

05/67/2025 05/07/2026 _ Expense Dues and Subse... MichaelT-- oD 1603 85 ©)

67/07/2026 67/07/2026 a "Expense Supplies and ma... Special Ey _ iO 239.08 ©

10/07/2026 10/07/2026 “Credit. Supplies end me... SpecielEv. a 337 G

15/07/2026 15/07/2026 Expense Legelandprofe... AWAcco... AW Accounting is "308 ©

fie — a eee tenn nee tema eae tem e a ne TT (= 50 00 ©)

25/07/2026 25/07/2026 Transfer TD Operating A... Transfer IN 0

4. Click Finish Now and then click Done. ,

it | S:

ae ve it in your Chapter 06 folder a

5 Run the Reconciliation report, export it to PDF and sa y

CHO6 Reconciliation

— Reinforce Your Skills 169