instructions

You don't want your work on the C: drive because other people can access it and because that would force you to be on the same computer every time. By saving your work to the H: drive, you and only you can access it from any computer in BUSI 209 or in the General Lab in BUSI 212. In software like Word and Excel, you save your work by making menu selections such as: File / Save or Save As. But Peachtree software saves as you work, e.g. the actions of pressing the Enter key, or clicking on the Post icon, or even exiting a screen triggers the software to save. You will not be aware that Peachtree is saving.

Before using Peachtree in BUSI 209, you'll need to copy your Bellwether Garden Supply data in the folder named BCS from C:\Program Files\Peachtree\Company to your student H:\Peachtree folder. You'll have to create the Peachtree folder on your H: drive.

To copy the BCS folder from C:/Program Files\Peachtree\Company & create a Peachtree folder H:\Peachtree:
Select Start / My Computer / C: / double click on the Program Files folder / double click on the Peachtree folder / double click on the Company folder / right mouse click on the BCS folder / select Copy / change to the H: student drive ST_USERNAME on "NetApp..."/ right mouse click & select New / Folder/ type: Peachtree. Double click the Peachtree folder you just created, then right mouse click & select Paste to transfer a copy of the BCS folder to your new Peachtree folder on your H: drive.

When opening an existing company's data (a previously created company), Peachtree saves your work back to the same location from which you opened the file. Therefore, you will want to access the sample company data, Bellwether Garden Supply, from H:\Peachtree (instead of the sample company files on the C: drive) so that Peachtree will automatically save to H:\Peachtree as you enter data.

Start reading/working your way through Chapter 1 of your text but first read through the NOTE: and TURN IN: sections below.

NOTE:
-- Chapter 1 requires a lot of reading, very little "doing". Be sure to add yourself as an employee (pg. 38) as well as adding Leif Fowler (pg. 49).

-- After completing page 49, you will need to change the name of the company so that your printouts will show your name. Select menu item Maintain / Company Information / type "your name - Bellwether" Example: John Smith - Bellwether Click on OK.

-- Print the Employee List after you have completed page 49 and changed the company name to include yours. (To print the list, select Reports / Payroll / highlight Employee List by clicking on it once. To print, click on the Print icon. If necessary, select the correct printer in the list box, and then click on OK.)

TURN IN:
Read the True/Make True statements pgs. 46-48. On a sheet of paper, rewrite the four false statements making them true. (It is not necessary to write anything other than the four statements and your name at the top of the sheet of paper. Your responses do not have to be typed; however, they do need to be complete sentences and legible.) Turn in these true statements along with your printout of the employee list. Be sure your name shows at the top of your printout (3 portrait pages) as indicated in the notes above.

NOTE:
-- Pg. 53 There is a misstatement in the first sentence of the last paragraph. Substitute the word "receives" for "orders". Ordering inventory (Purchase Order) does not affect Bellwether's account balances, but receiving inventory will (Pg. 55 last paragraph)

-- Pg. 54 There is no need to restore your files. Open your file from H: drive as indicated above.

-- Pg. 72 ADD THESE INSTRUCTIONS: 7. Item #5 above indicates that when you click on the save icon the Payment posts to the Cash Disbursements Journal. Let's see if that's true. From the menu bar, select Reports, then Accounts Payable. Double click Cash Disbursements Journal. Find the invoice you previously marked to be paid. (March 17, 2007 Invoice: AA107 $45.00) Notice that no check number is showing because it has not yet been printed. Double click on top of this transaction. This will return you to the "Payments" window. In the Memo section type your name. Click on Save. This will cause your name to print in the MEMO section of the check. Close out the "Payments" window. Close the Cash Disbursements Journal. Continue working on page 72. (The printers in room 209 might pause for a change in paper stock. If so, push the GO button on the printer.)

-- Pg. 85-86 Complete Exercise 2-1 #3 (There is no reason to restore your file. Simply open it from H: drive.) and Exercise 2-2, placing your name in the Memo section of the check.

-- Posted transactions may be edited or erased using the Edit and Erase icons. However, transactions in the Purchases window with subsequent payments posted in the Payments window cannot be edited in the Purchases window. The subsequent payment in the Payments window must be erased before the program allows for editing in the Purchases window. This holds true for posted journal entries in the Sales/Invoicing window where there was a subsequent collection in the Receipts window.

TURN IN:
Submit the two checks you printed with your name in the Memo section of each check (pg. 72 and pg. 86) and the Vendor Ledger you printed in #4 of Exercise 2-2 on pg. 86.

Exam #1 covers Chapters 1 & 2 and the internal control topics indicated in the Exam Review.

-- In addition to working through the chapter, do the exercises 3-1 & 3-1 on pgs. 127-128.

Turn in the collection letter for Tidmore Real Estate (pg. 120)This "canned" software will only produce a letter for William Industries. Just put your name on it and submit it; and after completing the chapter and Exercises 3-1 & 3-2, print and submit the customer ledger on pg. 128.

NOTE:
-- In addition to working through the chapter, do Exercises 4-1 and 4-2 pg. 156.
-- The general ledger includes all accounts, showing for each account the beginning balance along with all the increases and decreases to that account and that account's ending balance. You don't have to print the details of all the accounts; it will take pages and pages to print it all. You can print a specific account, a range of accounts, specific types of accounts, by departments or active/inactive accounts.

To print the details of just one account in the general ledger, select: Reports / General Ledger and then double click on General Ledger in the Report List: Click on the Options icon and then specify the account number in the General Ledger Account ID filter row.

For example, to print the Payroll Checking Account:
From: 10300 To: 10300

-- To add GL Account Descriptions select: Reports / Payroll and then double click on Payroll Journal in the Report List: Click on the Options icon. Select the Fields tab. Add a checkmark in front of GL Account Descriptions by clicking in front of it. Click on OK. (The Design icon displays the "blue tic" marks to "shrink" the column widths if needed.) You can limit the report to a specific date and specific employee by selecting that date and that person's Employee ID on the Filter tab. For example: From: March 29, 2007 To: March 29, 2007 Employee ID From: CLEDUC-01 To: CLEDUC-01

Social Security (FICA) and Medicare Tax
The employer must match the tax imposed on each employee. The same tax rate and dollar limitations apply to the employer's portion of the tax. In effect, the Social Security tax is 12.4% with 6.2% paid by the employee and 6.2% paid by the employer. The Medicare tax is 2.9% with one half (1.45%) paid by each party.

Federal Unemployment Tax Act (FUTA)
The federal government requires that every employer contribute into the federal unemployment tax plan. The fund is used to supplement the state unemployment funds, especially in periods of high unemployment. The rate is .08% (.008) of the first $7,000 of each employee's pay annually. There is no matching employee contribution. The employer can reduce the rate by paying state unemployment taxes on time and/or by having low numbers of employees filing for unemployment.

State Unemployment Tax Act (SUTA or SUI)
Each state requires that an employer contribute into a state unemployment fund. This fund is used to pay unemployment benefits to those temporarily out of work. The rate varies based on the employer's experience (usage) rate and the maximum amount varies from state to state. Some states impose a tax on the employee in addition to the employer tax, which is then withheld from the employee's pay (not in Texas).

TURN IN:
After completing the chapter and Exercise 4-1 and Exercise 4-2 pg. 156, print the General Ledger for just account 10300 - Payroll Checking Account. DO NOT print the entire General Ledger; just account #10300. Also print the Payroll Journal, showing GL Account Descriptions, for just Conrad C. Lipinski's 3/29/07 payroll check. [Compare your printout with the journal entries on pg. 150. Be prepared to explain the differences.]


Exam #2 covers Chapters 3 & 4 and the internal control topics indicated in the Exam Review.

NOTE:
-- In addition to working through the chapter, do Exercise 5-1 and 5-2 pg. 186-187
.
-- To print the Inventory Unit Activity Report select menu item Reports / Inventory and double click Inventory Unit Activity Report. Click on the Options icon. On the Filter tab filter by Item ID From: AVRY To: AVRY.

-- Proper assignment of the account type is essential because the account balances flow into the financial statements according to the account type. For example, if an expense account is inadvertently classified as a Cash type, it will appear on the Balance Sheet instead of the Income Statement.

-- There are available 16 account types in PCA (Peachtree Complete Accounting) are:

~ASSETS are what a business owns.
1) Cash - used for any accounts that involve cash - funds on hand in the firm and funds on deposit in banks. Funds on hand include not only currency and coin but also cash equivalents such as checks and money orders received from customers. Some firms maintain just one cash account, but others have a variety of cash accounts such as Cash on Hand, Petty Cash, Regular Checking Account, Payroll Checking Account and Money Market Savings.

2) Accounts Receivable - the amounts owed to a business by its customers for goods or services sold on credit.

3) Inventory - the stock of goods on hand. In a merchandising business, inventory is the stock of goods that the firm has purchased for resale to customers.

4) Other Current Assets - considered current assets - assets that will be used up or turned into cash within one year. Examples of Other Current Assets are Office Supplies and Prepaid Insurance.

5) Fixed Assets - also known as Plant Assets, Long-Term Assets, and Property, Plant & Equipment, are physical assets that will be used by the business for more than a year in order to operate the business. Examples: Equipment, Trucks, Buildings, Land.

6) Accumulated Depreciation - in order to match the cost of fixed assets against the revenue those assets help to produce, fixed assets (land is an exception) are depreciated -- systematically allocating/expensing their cost to operations during each accounting period of their useful lives.

7) Other Assets - assets that are neither current or fixed assets. Examples: intangibles such as Goodwill, Patents, Trademarks, Copyrights, Franchises

~LIABILITIES are what a business owes.
8) Accounts Payable - the amounts the business owes to creditors for goods and services that the business purchased on credit.

9) Other Current Liabilities - debts due for payment within one year. Examples: Salaries Payable, Taxes Payable, Short-Term Notes Payable, Interest Payable

10) Long Term Liabilities - debts that extend for more than one year. Examples: Morgage Payable, Long-term Notes Payable

~EQUITY is the difference between what a business owns and what it owes.
11) Equity--Doesn't Close - Capital accounts of a sole proprietorship or partnership and the capital stock accounts of a corporation. Account title examples: J. Jones, Capital or Common Stock or Beginning Balance Equity.

12) Equity--Retained Earnings - Revenues, Expenses & Dividends close to this account at the end of each accounting period. Account title examples: Retained Earnings or J. Jones, Equity.

13) Equity--Does Close - used to record owner contributions and distributions of earnings to owners both of which are closed at the end of each accounting period. Account title examples: J. Jones, Drawing, or J. Jones, Investments or Dividends.

~REVENUE is what a business receives when it sells goods or provides a service, typically increasing Cash or Accounts Receivable.
14) INCOME - in Peachtree, all revenues including interest revenue are considered income accounts. Contra Sales accounts like "Sales Discounts" and "Sales Returns & Allowances" are Income accounts in PCA. (Example: A debit to "Sales Discounts" increases the account but reduces "Net Sales".)

~EXPENSES are the costs a business incurs to produce revenue.
15) Cost of Sales - applies to merchandising and manufacturing businesses (not to service businesses). Also known as Cost of Goods Sold, this account records the cost of purchasing or making the goods that were sold during an accounting period. Examples: Purchases, Purchase Returns & Allowances, Purchase Discounts, Transportation In. (Debits increase Purchases & Transportation In accounts, increasing Cost of Sales while credits increase Purchases Discounts & Purchases Returns and Allowances decreasing Cost of Sales.)

16) Expenses - includes all operating expenses such as rent, salaries, transportation out and interest.

These 16 account types appear in alphabetical order in PCA's Maintain Chart of Accounts.

-- Debits and credits are at the heart of the double-entry accounting system.

Increase with Debits: (left side)
Assets
Dividends / Drawing
Expenses

Increase with Credits: (right side)
Capital / Common Stock
Liabilities
Revenues / Retained Earnings

Contra accounts are increased opposite of their related accounts. Example: Contra Asset accounts like Accumulated Depreciation and Allowance for Doubtful Accounts increase with credits (since Assets increase with debits) and Contra Revenue accounts like Sales Discounts and Sales Returns & Allowances are increased by debits (since Income accounts are increased by credits).

CLICK HERE to get the Chapter 5 Assignment sheet you will need to complete and submit.

TURN IN:
After completing the chapter and Exercise 5-1 and Exercise 5-2, print the general ledger trial balance as instructed on pg. 187. Also print the Inventory Unit Activity Report for just the items whose item ID starts with AVRY. Print the Chapter 5 assignment sheet (see link above), complete and submit.


Exam #3 covers Chapter 5 and the internal control topics indicated in the Exam Review.

Chapter 6 - Job Costing

NOTE:
-- In addition to working through the chapter, do Exercise 6-1 and Exercise 6-2, pg. 203.

TURN IN:
After completing Exercise 6-1 pg. 203, print the Job Profitability Report showing General Ledger Account Descriptions. To make sure there is room to print on one page, remove the "Phase ID" and/or "Cost Code ID" columns of the report if necessary. You will also need to click on the "Setup" icon on that same screen and select PORTRAIT. If you don't, it will print landscape orientation. (The Design icon displays the "blue tic" marks to "shrink" the column widths if needed.)

Go to "Peachtree Today / My Business" (click on the Today icon, bottom right-hand corner) Which customer owes you the most and how many days overdue is their account? Print the Sales & Receipts - Aged Receivables showing this information and circle the name of the customer. Turn in this printout. (You may need to write your name on your printout to identify it as yours.) (Right mouse click on the area showing the pie chart and select "Print".)

TURN IN:
Compare your financial statement printouts with those in the text. Turn in the Balance Sheet and Income Statement. Make the changes necessary so that your financial statements don't show accounts with zero balances.

Chapter 8 - Time & Billing - pgs. 229 -231 only

NOTE:
Lawyers and accountants frequently maintain time & billing softwares to track how much time/expense has been expended per client, job (up to 63 jobs per client), or for non-billable administrative tasks, giving the partners the information they need in order to determine the amount to charge each client. This chapter is an example of such software. This chapter is not tested.

TURN IN: There is nothing to submit.

When creating a new company, Peachtree by default will save to the C: drive. Therefore, after you have created your new company, you will need to move your company's files from the C: drive to the H: drive. This will enable you to open your company from any computer and will eliminate the chance of someone damaging your work on the C: drive. (Anyone can delete/alter files left on the C: drive in the labs.) To copy the company you created from C: to H:/Peachtree:

NOTE:
-- Use your name for the company name (pg. 249 - Example: John Smith, Graphic Artist) and for the Capital & Drawing accounts (pg. 258-259). Be sure to use WI as the state so your taxes will match the printouts in the book.

-- Caution: Be sure of your dates in the Monthly Accounting Periods screen on page 253 before proceeding because you cannot change it later.

-- If the Deposit Ticket ID is the same, even though there is a different date in the date field, the account reconciliation will "lump" them together as one transaction. If you don't use separate Deposit ticket ID's, you may have problems with your bank reconciliation if some of them don't clear. Since they all appear as the net amount in only one transaction, you can't select specific ones to mark as having cleared the bank while leaving others as not having cleared.

-- Add the general ledger account descriptions to the right of the account ID's in the Cash Receipts Journal and the Cash Disbursements Journal printouts. If you don't remember how to do this, see Chapter 4 notes and add the use of the Move Up button to place GL Acct Descriptions just below Acct ID#'s. (The Design icon displays the "blue tic" marks to "shrink" the column widths if needed.)

-- Posted transactions may be edited or erased using the Edit and Erase icons. However, transactions in the Purchases window with subsequent payments posted in the Payments window cannot be edited in the Purchases window. The subsequent payment in the Write Checks/Payments window must be erased before the program allows for editing in the Purchases window. This holds true for posted journal entries in the Sales/Invoicing window where there was a subsequent collection in the Receipts window.

-- Print your General Ledger Trial Balance and compare with page 295. If your numbers don't match (just because your total debits/credits match does not mean that the balances in each of the accounts are correct; check each one), find and correct your errors.

-- You don't need to do the exercises at the end of this or any other chapter from here forward.

TURN IN:
Turn in your corrected (if you found errors in your Trial Balance) Cash Disbursements Journal showing general ledger Account Descriptions to the right of Account ID's along with the October Cash Account Register pg. 291 and your Balance Sheet (at the end of the chapter). Don't show accounts with zero balances (unused accounts) in your Balance Sheet print out.

-- Text error (page 316) Other Deductions (ATM's): 11/14/04 $200 Date should be: 11/16/04

-- Print both account reconciliations (pgs. 318 & 327) along with the unadjusted trial balance (pg. 320).

-- Be sure to uncheck the boxes on page 342 to prevent the printing of your General Ledger.

-- Back up your data before closing at year end. Year end closings purge information details and they cannot be recovered without restoring from your back up disks.

-- Find yourself needing to correct an entry in a previous period? Accounting periods can be changed by choosing: Tasks / System / Change Accounting Periods. After making the correction, be sure to change the accounting period again. PCA is designed to maintain books for up to 2 years without closing as indicated in the "Year-End Wizard-Welcome" screen pg. 344. Remember, the General Ledger report shows all activity in each account for any time period you designate (before closing) so this is a good place to hunt for errors.

-- In this chapter you will use the General Journal to enter adjusting entries. End-of-the period adjusting entries normally do not involve the cash account. All transactions involving cash should be entered in the Cash Disbursements Journal (Write Checks/Payments Windows) or the Cash Receipts Journal (Receipts Window). Debits or credits to the cash account entered through the General Journal will appear in the Add<Less>Other category of the account reconciliation screen.

-- Find yourself needing an unadjusted trial balance after you've prepared adjusting entries? Backing up prior to entering adjustments will help (pg. 329-330).

CLICK HERE to get the Chapter 10 Assignment sheet you will need to complete and submit.

TURN IN:
Print and submit the Unadjusted Trial Balance (pg. 320), Account Reconciliations (pg. 318 & 327), Adjusted Trial Balance (pg. 334), and Post-Closing Trial Balance (pg. 346). Print the Chapter 10 assignment sheet (see link above), complete and submit.

It is expected that Projects 1 & 2 will be done without discussion with other students. Do not compare entries. This work is to be your own.

Instructions on how to transfer your new company from the C: drive to the H: drive can be found at the beginning of Chapter 9 instructions.

Use your name, Consultant (pg. 357) for the company name and your name in the Capital and Drawing accounts (pg. 359).

TURN IN:
Print and submit the Account Reconciliation for December; the Unadjusted, Adjusted and Post-Closing Trial Balances; the Balance Sheet, Income Statement, and Statement of Retained Earnings (don't show unused accounts, i.e., those with zero balances); and to demonstrate your ability to alter reports, add the GL Account Descriptions to the right of the Acct ID's for the Cash Receipts Journal, the Cash Disbursements Journal and the Dec. 31, 2004 General Journal (print all in portrait orientation).

Exam #5 covers Chapters 9 & 10 and the internal control topics indicated in the Exam Review.

Chapter 11 - Accounts Payable (Chapter 2 also covered Accounts Payable topics)

After you have created this new company, transfer the files from the C: drive to the H: drive. Instructions can be found at the beginning of Chapter 9 of these instructions.

NOTE:
-- Pg. 373, be sure to use your first name Service Merchandise when you start the new company, and also use your name in place of Matt Lowe for the Capital & Drawing accounts on pg. 379.

-- As you recall, the entry of a Purchase Order does not affect general ledger account balances because no items have been received and no liability has been incurred or paid.

-- Do not do the exercises at the end of this or any of the other remaining chapters.

TURN IN:
Read the True/Make True statements at the end of the chapter. On a separate sheet of paper, rewrite the four false statements, making them true.
Also print the Purchase Journal (pg. 411), Cash Disbursements Journal (pg. 412) showing the general ledger Account Descriptions to the right of the account ID, and the general ledger Trial Balance (pg. 414) after finishing the chapter.

Chapter 12 - Accounts Receivable (Chapter 3 also covered Accounts Receivable topics.)

NOTES:
-- Do not do the exercises at the end of this or any of the other remaining chapters.
-- You must print your sales invoices so an invoice number will be assigned and so the invoice will update the Sales Journal and the appropriate general ledger accounts.
-- Posted transactions may be edited or erased using the Edit and Erase icons. However, transactions in the Purchases window with subsequent payments posted in the Payments window cannot be edited in the Purchases window. The subsequent payment in the Payments window must be erased before the program allows for editing in the Purchases window. This holds true for posted journal entries in the Sales/Invoicing window where there was a subsequent collection in the Receipts window.
-- To record a cash sale without the customer's name, simply type Cash Sale to the right of Name in the "Receipts" Window.

TURN IN:
Print the Sales Journal, showing general ledger Account Descriptions to the right of the Account ID's (pg. 466); the Cash Receipts Journal, showing general ledger Account Descriptions to the right of the Account ID's (pg. 467); and the general ledger Trial Balance (pg. 469).

Exam #6 covers Chapters 11 & 12 and the topics indicated in the Exam Review.

Chapter 13 - Merchandise Inventory (Chapter 5 also covers Inventory topics.)

NOTES:
-- Do not do the exercises at the end of this or any of the other remaining chapters.

-- CLICK HERE to get the Chapter 13 Assignment sheet you will need to complete and submit.

TURN IN:
Compare your printouts with those in the text and make any necessary corrections. Turn in your Sales Journal (pg. 494) and Cash Receipts Journal (pg. 495) both showing general ledger account descriptions to the right of account ID's, and the general ledger Trial Balance (pg. 500). In addition, complete the Chapter 13 Assignment sheet and submit it.

NOTE:
-- Do not do the exercises at the end of this or any of the other remaining chapters.

-- Previous versions of Peachtree contained payroll tax tables. Now to compute payroll tax amounts automatically, you have to subscribe to Peachtree Payroll Tax Service which means you send them money and they send you a disk containing the tax tables. These tables are quickly, easily loaded into your PCA program.
Social Security (FICA) and Medicare Tax
The employer must match the tax imposed on each employee. The same tax rate and dollar limitations apply to the employer's portion of the tax. In effect, the Social Security tax is 12.4% with 6.2% paid by the employee and 6.2% paid by the employer. The Medicare tax is 2.9% with one half (1.45%) paid by each party. Social Security taxes are paid on individual annual earnings up to $87,900. Medicare taxes are paid on all individual earnings.

Federal Unemployment Tax Act (FUTA)
The federal government requires that every employer contribute into the federal unemployment tax plan. The fund is used to supplement the state unemployment funds, especially in periods of high unemployment. The rate ranges from .08% (.008) to 5.4% (.054) of the first $7,000 of each employee's pay annually. There is no matching employee contribution. The employer can reduce the rate by paying state unemployment taxes on time and/or by having low numbers of employees filing for unemployment.

State Disability Insurance (SDI)
Disability insurance is an insurance policy purchased by the employer to compensate employees who are unable to work due to illness or injury. These payments are in lieu of wages. The cost of the policy is based upon the number of employees working multiplied by a set rate per weeks worked. In some states, the employer is allowed to withhold a small amount from the employee's paycheck to offset part of the cost of the policy.

QUARTERLY REPORTS
Employer's Quarterly Federal Tax Return - Form 941
This is a quarterly report submitted to the Internal Revenue Services which details the total wages paid for the quarter, the total federal income tax withheld, and the employer's and employee's Social Security and Medicare Tax liabilities. If there are any unpaid tax liabilities at the end of the quarter, the employer will remit the balance with this form.

State Unemployment Tax Act Report
Most states require a quarterly report indicating the total wages subject to state unemployment tax. The employer usually will be required to remit the tax with this report.

YEAR END REPORTS
Federal Unemployment Tax Act Report - Form 940
All employers are required to submit an annual report calculating their liability for Federal Unemployment Tax. The employer will be required to remit payments during the course of the year. Any balance remaining will be paid with the report.

Wage and Tax Statement - Form W-2
Employers are required to prepare a year-end statement of wages paid and deductions taken for each employee. In addition, a copy of the report is furnished to the Social Security Administration, allowing that agency to update the social security benefit records of each employee.

As the employer and employee records are updated in PCA, all the reports are available for viewing and printing when needed. However, it may be necessary to copy the figures onto government issued forms and documents.

CLICK HERE to get the Chapter 14 Assignment sheet you will need to complete and submit.

TURN IN:
Print the Payroll Journal, adding general ledger Account Descriptions to the right of the general ledger Account ID's (pg. 532-534) and print the general ledger Trial Balance (pg. 535). Print the Chapter 14 assignment sheet (see link above), complete and submit.

NOTE:
-- Pg. 616 Using MS Excel, print the income statement. This is the only printout that is acceptable in landscape orientation.
(It's okay if your amounts differ from the text. I just want you to see how easy it is to transfer PCA data to an Excel spreadsheet.)

Exam #7 covers Chapters 13, 14, & 17 and the topics indicated in the Exam Review.

Complete the Project 4 pg. 651-669.
It is expected that Projects 1 & 4 will be done without discussion with other students. Do not compare entries. This work is to be your own.

NOTE:
Instructions on how to transfer your new company from the C: drive to the H: drive can be found at the beginning of Chapter 9 instructions.

Use your name, Wood Manuf., Inc. (pg. 651) for the corporation name.

TURN IN:
Print and submit:
Account Reconciliation Reports- Bank of Philadelphia and Penn Savings;
Financial Statements- Balance Sheet, Income Statement, Statement of Retained Earnings (do not show unused accounts, i.e. those with zero balances)
Reports- Job Profitability and Inventory Profitability
Journals-Payroll, Purchase, Cash Disbursement, Sales, Cash Receipts, General (add GL Account Descriptions to the right of the Acct ID# to any journal that doesn't have them) [transaction descriptions are not the same as Account Descriptions]

Exam #8 (Final Exam) is comprehensive, covering material in previous exams.
You were given an opportunity to review each exam the class day following each exam. See Exam Review for final exam topics.