CHAPTER 6
Malin’s Makeovers
TRANSACTION EXERCISE
1.
Using the Malin’s Makeovers QuickBooks data file (Malin.qbw or Malin), record entries for the source documents for February 2019.
If you have completed the source documents for this company in the text, please recopy the data file from the Data CD before starting.
SD1: Invoice Dated February 1, 2019
Invoice #3125 to Chances Agency (Set up new customer)
4 Clothing style consultations $190.00 each $760.00
7 Makeovers 390.00 each 2,730.00
7 Reports 90.00 each 630.00
HST 13% 535.60
Invoice Total $4,655.60
Terms: Net 15 days
Chances Agency
115 Hollywood Line
Kanata, ON K5C 1R5
Contact: Ida Wheeler
Phone: (613) 462-3658
Fax: (613) 462-4482
Email: [email protected]
Tax Code: HST
Terms Net 15
Credit Limit: $5,000
Pay by: Cheque
SD2: Customer Payment Dated February 5, 2019
From OTV News, cheque #189 for $2,139.30 in payment of account. Reference Invoice #3097. Cheque held for deposit
SD3: Bill Dated February 6, 2019
Bill #F-5420 received from Faces Inc., $340.00 plus $44.20 HST for makeup and cosmetics supplies. Be sure to delete the
Uncategorized Expense
account on the Expenses tab of the bill. The bill totals $384.20. Terms Net 30 days.
SD4: Sales Receipt #5 Dated February 7, 2019
To Cash Sales customers
Payment Method: Cash
5 Clothing style consultations $190.00 each $950.00
9 Hair consultations 150.00 each 1,350.00
4 Makeup consultations 120.00 each 480.00
2 Makeovers 390.00 each 780.00
3 Reports 90.00 each 270.00
HST 13% 497.90
Sales receipt total cash held for deposit $4,327.90
Memorize the transaction with weekly reminders starting February 14, 2019.
SD5: Memo #5 Dated February 7, 2019
From Partners: Deposit all cheques and cash held for weekly deposit to
Bank Chequing
account. Total deposit is $6,467.20.
SD6: Bank Debit Memo #CB-6215 Dated February 10, 2019
From Capital Bank: Cheque #189 for $2,139.30 from OTV News for invoice #3097 was returned as NSF. The bank charged $25.00 as an NSF fee. Record the bounced cheque and pass on the $25.00 NSF fee you were charged by the bank to the customer.
SD7: Invoice Dated February 12, 2019
Invoice #3127 to Jammers, $390.00 plus $50.70 HST for a two-hour customized seminar for sales staff on trends for the new season and how to assist customers on finding their best look. Invoice totals $440.70. Terms Net 15 days.
SD8: Sales Receipt #6 Dated February 14, 2019
To Cash Sales customers
Payment Method: Cash
4 Clothing style consultations $190.00 each $760.00
3 Hair consultations 150.00 each 450.00
8 Makeup consultations 120.00 each 960.00
4 Makeovers 390.00 each 1,560.00
4 Reports 90.00 each 360.00
HST 13% 531.70
Sales receipt total cash held for deposit $4,621.70
Use the memorized transaction.
SD9: Customer Payment Dated February 14, 2019
From OTV News, cheque #263 for $2,167.55 in payment of account and NSF charges. Reference Invoice #3126. Cheque held for deposit
SD10: Customer Payment Dated February 15, 2019
From Chances Agency, cheque #605 for $4655.60 in payment of account. Reference Invoice #3125. Cheque held for deposit
SD11: Memo #7 Dated February 15, 2019
From Owner: Invoice #3127 to Jammers was entered incorrectly. The seminar price was $290.00 plus $37.70 HST. Invoice totaled $327.70. Edit the invoice to make the correction and then print the corrected invoice.
SD12: Memo #8 Dated February 15, 2019
From Partners: Deposit all cheques and cash held for weekly deposit to the
Bank Chequing
account. Total deposit is $11,444.85.
2.
Print the Trial Balance from February 1 to February 15, 2019
3.
Print the Journal from February 1 to February 15, 2019
4.
Print the A/R Aging Detail Report at February 15, 2019
5.
Review the Sales Graph for February 1 to February 15, 2019