ACCT 251 DEVRY ENTIRE COURSE,ACCT 251 DEVRY ENTIRE CLASS,ACCT 251 DEVRY TUTORIAL,ACCT 251 DEVRY ASSIGNMENT Flashcards
DEVRY ACCT 251 Entire Course with Final Exam
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ACCT 251 Week 1 Peachtree Assignment ACCT 251 Week 1 DQ 1 ACCT 251 Week 1 DQ 2 ACCT 251 Week 2 Peachtree Assignment ACCT 251 Week 2 DQ 1 ACCT 251 Week 2 DQ 2 ACCT 251 Week 3 Peachtree Assignment ACCT 251 Week 3 DQ 1 ACCT 251 Week 3 DQ 2 ACCT 251 Week 3 Quiz ACCT 251 Week 4 Peachtree Assignment ACCT 251 Week 4 DQ 1 ACCT 251 Week 4 DQ 2 ACCT 251 Week 5 Peachtree Assignment ACCT 251 Week 5 DQ 1 ACCT 251 Week 5 DQ 2 ACCT 251 Week 6 Peachtree Assignment ACCT 251 Week 6 DQ 1 ACCT 251 Week 6 DQ 2 ACCT 251 Week 6 Quiz ACCT 251 Week 7 Peachtree Assignment ACCT 251 Week 7 DQ 1 ACCT 251 Week 7 DQ 2 ACCT 251 Final Exam ACCT 251 Project and Project Report
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DEVRY ACCT 251 Final Exam
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The Final Exam has 3 pages and is worth 270 points total. This first page has all Multiple Choice questions.
Question 1.1. (TCO 1) To display the size of your backup file, you can use the Windows program called: (Points : 5)
Windows Explorer
Scan disk
Defrag
Windows Accessories
Windows Defender
Question 2.2. (TCO 1) The Edit menu allows you to do the following: (Points : 5) cut copy paste clear find transactions
Question 3.3. (TCO 1) The balance sheet lists: (Points : 5)
assets, liabilities, and capital of a business.
revenues and expenses of a business.
the percentage of revenue at the end of the year.
the percentage of debt at the end of the year.
cash disbursements.
Question 4.4. (TCO 1) Business managers and owners depend on financial statements because: (Points : 5)
Peachtree automatically calculates accurate financial statements.
financial statements are for internal use only.
they have primary responsibility for the business.
they can evaluate cash and make appropriate decisions.
they can use account balances to customize financial statements.
Question 5.5. (TCO 2) The sample company, Bellwether Garden Supply, uses which method of posting? (Points : 5) Batch posting Real-time posting Cash basis posting Accrual basis posting Just-in-time posting
Question 6.6. (TCO 2) The posting method used by the business in Chapter 9 is: (Points : 5)
batch posting
real-time posting
a combination of batch posting and real-time posting.
accrual posting
cash basis posting
Question 7.7. (TCO 2) The account type specified on the chart of accounts is also the account classification for the: (Points : 5) balance sheet and income statement general ledger general journal cash receipts journal receipts
Question 8.8. (TCO 3) In Chapter 11, the \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_is completed before recording and posting the end-of-quarter adjusting entries. (Points : 5) adjusted trial balance cash disbursements journal unadjusted trial balance cash receipts journal post-closing trial balance
Question 9.9. (TCO 3) The best time to record adjusting entries is: (Points : 5) the end of the quarter. the end of each month. six month intervals. the end of the year only. during the month.
Question 10.10. (TCO 4) To change accounting periods, you need to make the following menu bar selections: (Points : 5)
Tasks; System, Change Accounting Period
Tasks; Default, Change Accounting Period
Tasks; Maintain, Defaults
Maintain; System, Change Accounting Period
Maintain; User Security
Question 11.11. (TCO 4) If your journals do not agree with the textbook illustrations, use the following Peachtree feature: (Points : 5) Maintain; defaults, general ledger Edit journal transactions Tasks; general journal transaction Maintain chart of accounts Company page; link to restore
Question 12.12. (TCO 5) The account credited on the Receipts window is: (Points : 5)
Account No. 1020, Checking Account
The GL Account selected
Account No. 1040, IRA Savings
The Receipts window does not need to have an account credited.
Account No. 1010, Money Market
Question 13.13. (TCO 5) In Chapter 10, you do the following: (Points : 5)
Set up a retail business.
Select November 2010 as the accounting period.
Record deposits, checks, and ATMs.
Print the chart of accounts.
Record purchase invoices.
Question 14.14. (TCO 6) On the Navigation Bar, make the following selections to enter a sales invoice: (Points : 5)
Customers & Sales page; click on the Customers icon and select View and Edit Customers.
Customers & Sales page; click on the Sales Invoices icon and select Set Up Invoice Defaults.
Tasks; Purchases/Receive Inventory.
Customers & Sales page; click on the Sales Invoices icon and select New Sales Invoice.
Inventory & Services page; click on the Invoice icon, select View and Edit Invoices.
Question 15.15. (TCO 6) The standard sales discount, in terms of number of days, for Bellwether Garden Supply is: (Points : 5)
no sales discount is offered.
a discount if balance is paid in full within 10 days.
a discount if balance is paid in full within 15 days.
a discount if balance is paid in full within 20 days.
a discount if balance is paid in full within 25 days.
Question 16.16. (TCO 6) You need to set up a Job ID for Franklin Botanical Gardens in Chapter 6, so that you can track: (Points : 5)
the employees’ expenses and miles driven to the job.
how much the merchandise cost.
how much the merchandise sold for.
the supplies and employee hours charged to this customer.
employee expenses and cost of inventory.
Question 17.17. (TCO 6) The Sales/Invoicing window is also known as the: (Points : 5) purchase journal cash receipts journal sales journal cash disbursements journal general ledger
Question 18.18. (TCO 6) On the Navigation Bar, make the following selections to record a sales return: (Points : 5)
Customers & Sales page; click on the Credits and Returns icon and select Make Payment to Customer, select the customer, type the invoice number
Customers & Sales page; click on the Credits and Returns icon and select New Credit Memo
Customers & Sales page; click on the Sales Invoices icon and select New Sales Invoice
Customers & Sales page; click on the Credits and Returns icon and select View and Edit Credit Memos
Tasks page; select Maintain Customers/Sales Reps, Defaults
Question 19.19. (TCO 6) On the Navigation Bar, make the following selections to record a cash sale: (Points : 5)
On the Customers & Sales page, click on the Sales Invoices icon and select New Sales Invoice.
On the Customers & Sales page, click on the Receive Money icon and select View and Edit Payments Receive, Apply to Revenues tab, record the cash sale.
On the Customers & Sales page, click on the Receive Money icon and select Receive Money From Customer, Apply to Revenues tab, record the cash sale.
On the Banking page, click on the Receive Money icon and select Receive Money From Customer, Apply to Revenues tab, record the cash sale.
On the Inventory & Services page, select Inventory Adjustments.
Question 20.20. (TCO 6) The Franklin Botanical Gardens job has the following special circumstance: (Points : 5)
It is a motel overlooking a freeway.
It is a hotel near the airport.
It is a new building overlooking a park.
It is an apartment complex with surrounding gardens.
A newly remodeled building.
Question 1.1. (TCO 7) On the Navigation Bar, make the following selections to enter inventory item maintenance information: (Points : 5)
Inventory & Services page; click on the Inventory Items icon, select View and Edit Inventory items and record inventory information
Vendors & Purchases page; click on the Purchase Orders icon, select New Purchase Orders and record inventory information
Inventory & Services page; click on the Inventory Items icon, select New Inventory Item and record inventory information
Maintain; Defaults, Inventory Items, record inventory information
Vendor & Purchases; select Pay Bills, New Bill
Question 2.2. (TCO 7) The LIFO (last in, first out) method of inventory assumes: (Points : 5)
the lowest amount of net loss.
the highest amount of net income.
cost of sales is based on current replacement.
beginning inventory is sold first.
overall Average cost.
Question 3.3. (TCO 7) On the Navigation Bar, make the following selections to make a general journal entry: (Points : 5)
Company page; click on the Chart of Accounts icon and select View and Edit Accounts
Company page; link to General Journal Entry
Banking page; click on the Write Checks icon and select New Check
Company page; link to Restore a backup and click on the General Journal Entry icon
Maintain; select General Journal record
Question 4.4. (TCO 7) If your GL Account columns and A/P Account field are not displayed on the
Purchases/Receive Inventory window, you need to: (Points : 5)
check the Tasks windows.
check the maintenance menus.
click on Options; Global and uncheck the three boxes in the Hide General Ledger Accounts section.
reset the defaults in the Accounting Behind the Screens selection.
accounting Behind the Screens cannot be changed.
Question 5.5. (TCO 9) An organized body of related information is called a/an: (Points : 5) feature of the software software function accounting software application Peachtree Complete Accounting database
Question 6.6. (TCO 9) The Payments window is also known as the: (Points : 5) Cash Receipts Journal Purchase Journal Sales Journal Cash Disbursements Journal General Journal
Question 7.7. (TCO 9) The following accounts are debited and credited when you purchase inventory on account: (Points : 5)
Dr. Inventory account, credit Account Receivable/vendor.
Dr. Accounts Payable/Vendor; Cr. expense account.
Dr.Inventory account; Cr. Accounts Payable/Vendor.
Dr. Accounts Receivable/Customer; Cr. Sales account.
Dr. Accounts Payable/Vendor; Cr. Inventory account.
Question 8.8. (TCO 9) Sharon’s Service Merchandise is a partnership owned by: (Points : 5) Sharon Stewart and David Becker Constance Molina and Sally Sweeney Charles Anderson and Sharon Walters Karen Hart and Maria Stanton Richard Williams and Carol Dash
Question 9.9. (TCO 9) The Purchases/Receive Inventory window is also called the: (Points : 5) cash disbursements journal sales journal cost of goods sold journal purchase journal general journal
Question 10.10. (TCO 9) Sharon’s Service Merchandise accounting records are set up to begin on: (Points : 5) November 1, 2010 December 1, 2010 January 1, 2009 January 1, 2010 December 1, 2009
Question 11.11. (TCO 10) Processing payroll is automatic once \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ are set up correctly. (Points : 5) defaults tasks employees/sales rep tasks payroll tables manually recorded payroll deductions
Question 12.12. (TCO 10) The employee deductions display as negative amounts on the Payroll Entry window because: (Points : 5)
they are added to the paycheck amount.
they are not used to compute the paycheck.
they are deducted from the employee’s gross pay.
the employer always pays deductions from the paycheck.
employee deductions display as positive amounts.
Question 13.13. (TCO 10) The account number used to record employees’ regular pay is: (Points : 5) 77500 77600 77700 77800 77900
Question 14.14. (TCO 10) On the Navigation Bar, make the following selections to enter employee maintenance information: (Points : 5)
Employees & Payroll page; click on the Employees icon and select Write Letters to Employees
Employees & Payroll page; click on the Employees icon and select New Employee
Employees & Payroll page; click on the Pay Employees icon and select Set Up Payroll Service
Tasks; Payroll Entry
Tasks; Payroll Entry, View and Edit Employee Payments
Question 1. 1. (TCO 2, 3, & 4) The following selected accounts with normal balances appeared in the unadjusted trial balance of Bellwether Garden Industries:
Accounts receivable $176,000
Prepaid rent 69,000
Prepaid insurance 36,000
Equipment 280,000
Accumulated depreciation-equipment 30,000
Unearned service revenue 24,000
Salary expense 130,000
REQUIRED: Prepare the necessary year-end adjusting entries as of December 31, 2011 for each part. Be sure to note which account is debited and credited.
– Part A: One-half of the revenue received in advance has been earned by December 31, 2011.
– Part B: The prepaid insurance represents three years’ premium on a policy providing coverage starting September 1, 2011.
– Part C: Since the last payday, employees have earned an additional $2,500 which has not yet been paid or recorded.
– Part D: The equipment has an estimated life of 10 years and no expected value at the end of its life.
– Part E: Services performed but unbilled and uncollected at year-end amount to $6,500.
– Part F: The prepaid rent relates to one-half of a year beginning on October 1, 2011.
(Points : 25)
Question 2. 2. (TCO 2, 4, & 5) Prepare any journal entries based on the following data regarding the bank reconciliation prepared by Titon Com for the month of April 20XX:
Part A. The unadjusted balance in the cash account on Titon’s books was $8,715.71.
Part B. The April 30 balance shown on Titon’s bank statement was $8,472.36.
Part C. A customer that owed Titon $700 on a note paid the $700, and $35 for interest directly to Titon’s bank. Titon did not know about this payment prior to receiving its bank statement.
Part D. Titon had made a deposit of $1,635.25 near the end of April that had not cleared the bank when it prepared Titon’s bank statement.
Part E. Titon discovered that a check it had written for $153.15 had been erroneously recorded in its books as $135.15. This check had been written to pay an account payable.
Part F Three checks that Titon had written during April had not cleared the bank by April 30. The amounts of these checks were $147.90, $372.15, and $209.45.
Part G. Titon has a checking account that earns interest on the minimum monthly balance. The bank statement showed that $35.12 of interest was earned during April.
Part H The bank statement showed that a check written by one of Titon’s customers was returned for NSF. The check was for $79.72. Titon did not know about the NSF check before receiving its bank statement.
Part I. The bank charged Titon a $10.00 service charge for the month of April.
REQUIRED: Prepare the necessary reconciliation entries for each part. Be sure to note which account is debited and credited. (Points : 25)
Question 3. 3. (TCO 2, 4, & 7) Inventory data for Midwest Logistics Company for June 20XX are as follows:
June 1 balance 80 units at $25
June 10 purchase 100 units at $28
June 15 sale 120 units
June 21 purchase 90 units at $32
June 30 sale 130 units
REQUIRED: Using the FIFO cost method, compute ending inventory as of June 30, 20XX and determine cost of goods sold for June. Be sure to show your calculations. (Points : 25)
Question 4. 4. (TCO 2, 4, & 8) On January 2, 20XX, Bellwether Garden Supply purchased a delivery truck for $34,000. The estimated useful life of the truck is 5 years, with an estimated salvage value of $4,000. The truck is expected to be driven 200,000 miles during its useful life.
Part A. Compute the amount of depreciation expense that the company will recognize in a year in which the truck is driven 47,000 miles, assuming the company uses the units-of-production method.
Part B. Compute the book value of the asset at the end of the Third year, assuming the company uses the straight-line method.
Part C. Determine the balance in the Accumulated Depreciation account at the end of the Second year that it owns the asset, assuming the company uses the double-declining-balance method.
REQUIRED: For each part, compute the results. Be sure to show your calculations. (Points : 25)
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DEVRY ACCT 251 Project and Progress Report
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Course Project: Peachtree Project
Note!
Submit your assignment to the Dropbox located on the silver tab at the top of this page.
(See the Syllabus section “Due Dates for Assignments & Exams” for due dates.)
Your Assignment| Grading Rubrics
Your Assignment
Students will be required to complete a project in this class that tests their knowledge & skills in managing the books for a small business using Peachtree Complete Accounting 2010. The assignments that you will be completing during Week 1 – 4 focus on specific Peachtree skills; however, this assignment allows you to use what you have learned about Peachtree to manage the books for a firm without \’step-by-step\’ guidance, which is typical for assignments you will see in the workplace.
You will complete Project 1 (Susan Watson Accounting), which is located at the end of Chapter 11. As part of this project, you will generate the required reports as listed in the textbook as well as the Check Your Progress worksheet (which you will create in Excel) at the end of the project.
• If you fail to submit the “Check Your Progress” worksheet, you will lose 20%. Once you have submitted your project and it has been graded, you cannot resubmit it.
• You will need to generate the reports when requested per the project for you cannot assume that every report is generated at the end of the project.
You do not need to submit the reports as listed as “Optional”. All of the instructions for completing the project are listed in the textbook.
When you are done, you will submit one Excel workbook titled “ACCT251PeachProject” that contains an Excel worksheet for each of the reports required, as well as one worksheet that contains the Check Your Progress worksheet.
• Failure to submit one workbook that contains everything will result in a penalty of 15%. Once you have completed Peachtree Project, you will post your assignment to the Peachtree Project drop box. If you post it to the wrong drop box, your assignment will not be graded.
Hint: Here are the minimum number of reports that you will need to submit for this project:
Checklist of Printouts, Project 1: Mesa Computer Club
1 Chart of Accounts
2 Account Reconciliation
3 Account Register
4 General Ledger Trial Balance (unadjusted)
5 December 31, 2010 General Journal
6 Cash Disbursement Journal
7 General Ledger Trial Balance (adjusted)
8 General Ledger
9 Balance Sheet
10 Income Statement
11 Statement of Retained Earnings
12 Statement of Cash Flow
13 Statement of Changes in Financial Position
14 Postclosing Trial Balance
Once you have completed this assignment, you will post your assignment to the Course Projectdrop box. If you post it to the wrong drop box, your assignment will not be graded. In addition, once the project has been submitted and graded, you cannot resubmit to include missing documents. See Syllabus/”Due Dates for Assignments & Exams” for due dates.
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DEVRY ACCT 251 Week 1 to Week 7 All Assignment
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ACCT 251 Week 1 DQ 1 ACCT 251 Week 1 DQ 2 ACCT 251 Week 2 DQ 1 ACCT 251 Week 2 DQ 2 ACCT 251 Week 3 DQ 1 ACCT 251 Week 3 DQ 2 ACCT 251 Week 4 DQ 1 ACCT 251 Week 4 DQ 2 ACCT 251 Week 5 DQ 1 ACCT 251 Week 5 DQ 2 ACCT 251 Week 6 DQ 1 ACCT 251 Week 6 DQ 2 ACCT 251 Week 7 DQ 1 ACCT 251 Week 7 DQ 2
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DEVRY ACCT 251 Week 1 To Week 7 All DQ’s
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ACCT 251 Week 1 DQ 1 ACCT 251 Week 1 DQ 2 ACCT 251 Week 2 DQ 1 ACCT 251 Week 2 DQ 2 ACCT 251 Week 3 DQ 1 ACCT 251 Week 3 DQ 2 ACCT 251 Week 4 DQ 1 ACCT 251 Week 4 DQ 2 ACCT 251 Week 5 DQ 1 ACCT 251 Week 5 DQ 2 ACCT 251 Week 6 DQ 1 ACCT 251 Week 6 DQ 2 ACCT 251 Week 7 DQ 1 ACCT 251 Week 7 DQ 2
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DEVRY ACCT 251 Week 3 Quiz
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TCO 1) The name of the sample company or companies included in the Peachtree Complete Accounting 2010 software is/are:
Pavilion Garden Supply.
Bellwether Garden Supply and Stone Arbor Landscaping.
Berkeley Custom Pools & Spas.
Stone Arbor Landscaping.
Fabrikam, Inc. and Northwind Traders.
Question 2. Question : (TCO 1) To display the size of your backup file, you can use the Windows program called: Windows Explorer. scan disk. defrag. Windows Accessories. Windows Defender.
Question 3. Question :
(TCO 1) The Options menu has selections that allow the user to:
check global settings and define an Internet connection.
Back up.
print reports.
enter journal entries.
post to the general ledger.
Question 4. Question : (TCO 2) In the computer accounting cycle, the following report is not included: adjusted trial balance. unadjusted trial balance. worksheet. financial statements. statement of cash flow.
Question 5. Question : (TCO 6) The customer ID for Teesdale Real Estate is: TEESDALE-01. TEESDALE. Teesdale-01. Teesdale 01. Teesdale Estate.
Question 6. Question :
(TCO 6) On the Navigation Bar, make the following selections to enter a sales invoice:
Customers & Sales page; click on the Customers icon and select View and Edit Customers.
Customers & Sales page; click on the Sales Invoices icon and select Set Up Invoice Defaults.
Tasks; Purchases/Receive Inventory.
Customers & Sales page; click on the Sales Invoices icon and select New Sales Invoice.
Inventory & Services page; click on the Invoice icon, select View and Edit Invoices.
Question 7. Question :
(TCO 6) The standard sales discount, in terms of number of days, for Bellwether Garden Supply is:
no sales discount is offered.
a discount if balance is paid in full within 10 days.
a discount if balance is paid in full within 15 days.
a discount if balance is paid in full within 20 days.
a discount if balance is paid in full within 25 days.
Question 8. Question :
(TCO 7) On the Navigation Bar, make the following selections to make a general journal entry:
Company page; click on the Chart of Accounts icon and select View and Edit Accounts.
Company page; link to General Journal Entry.
Banking page; click on the Write Checks icon and select New Check.
Company page; link to Restore a backup and click on the General Journal Entry icon.
Maintain; select General Journal record.
Question 9. Question : (TCO 7) To transfer money to the money market fund, make the following type of entry: General Journal. Payments. Receipts. Tasks. Maintenance.
Question 10. Question :
(TCO 7) If your GL Account columns and A/P Account field are not displayed on the
Purchases/Receive Inventory window, you need to:
check the Tasks windows.
check the maintenance menus.
click on Options; Global; uncheck the three boxes in the Hide General Ledger Accounts section.
reset the defaults in the Accounting Behind the Screens selection.
do nothing; Accounting Behind the Screens cannot be changed.
Question 11. Question : (TCO 9) The contact name for the vendor Anderson’s Landscaping is: Jesse Wood. Jerry Johnson. Steven Cole. Frank Anderson. Lilio Chomette.
Question 12. Question :
(TCO 9) The purchase account for Anderson’s Landscaping is:
57200, Materials Cost.
57000, Direct Labor.
57000 – LS, Direct Labor – Landscaping.
57200 – LS, Materials Cost – Landscaping.
14700, Other Current Assets.
Question 13. Question :
(TCO 9) The following accounts are debited and credited when you purchase inventory on account:
Dr. Inventory account; Cr. Accounts Receivable/Vendor.
Dr. Accounts Payable/Vendor; Cr. Expense account.
Dr. Inventory account; Cr. Accounts Payable/Vendor.
Dr. Accounts Receivable/Customer; Cr. Sales account.
Dr. Accounts Payable/Vendor; Cr. Inventory account.
Question 14. Question :
(TCO 10) To set up specific guidelines for individual employees, make these selections:
Employee tasks; click Employees, Employee Maintenance, make appropriate selection.
Tasks; Select for Payment, select Employee.
Maintain; Default Information, Employees.
Employees & Payroll page, click Employees, View and Edit Employees.
Tasks; Payroll for one employee.
Question 15. Question :
(TCO 10) To look at an employee’s record, display this window:
Payroll Entry window.
Tasks; Employees.
Maintain Employees & Sales Reps.
Company; General Journal entry.
Employees & Tasks page; click Employees.
Question 16. Question :
(TCO 10) On the Employee Defaults window, the Employee Fields tab is for:
liability accounts that are related to employee deductions.
assets accounts that are related to employee deductions.
expense accounts that are related to employee deductions.
lability accounts that are related to employer deductions.
expense accounts that are deducted from liabilities.
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DEVRY ACCT 251 Week 6 Quiz
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(TCO 1) The balance sheet lists:
: assets, liabilities, and capital of a business.
revenues and expenses of a business.
the percentage of revenue at the end of the year.
the percentage of debt at the end of the year.
cash disbursements.
Question 2. Question :
(TCO 1) The Income Statement’s net income or (net loss) is also shown on the:
: income statement’s revenue section.
balance sheet’s capital section.
departmental gross profit totals.
cash balance at the end of the period.
general ledger trial balance.
Question 3. Question :
(TCO 1) To use Peachtree’s masking feature, do the following to an account number.
: Add a prefix.
Add a suffix.
Add an account number.
Change the account in the general journal.
Change the account type.
Question 4. Question :
(TCO 2) The sample company chart of accounts that you use as the model for Chapter 9’s business is:
: accounting practice.
general contractor.
gift shop.
service company.
retail company.
Question 5. Question :
(TCO 2) The chart of accounts is:
: the accounts shown on the income statement.
the accounts shown on the balance sheet.
a list of accounts in the general ledger.
a list of accounts in the general journal.
a list showing account beginning balances.
Question 6. Question :
(TCO 2) The account type for Account No. 3920 (Vernon Firestone) [or your name] capital is:
: cash.
equity-gets closed.
equity-doesn’t close.
retained earning.
other current liabilities.
Question 7. Question :(TCO 3) In Chapter 11, the ______________________________ is completed before recording and posting the end-of-quarter adjusting entries.: adjusted trial balance
cash disbursements journal
unadjusted trial balance
cash receipts journal
post-closing trial balance
Question 8. Question :
(TCO 3) To print a post-closing trial balance, you need to:
: select Tasks; System, change accounting periods.
select Reports & Forms; Accounts Receivable, print reports.
select Options; Default Information.
select Help; About Peachtree Accounting.
close the fiscal year, then print a trial balance.
Question 9. Question :
(TCO 4) If your journals do not agree with the textbook illustrations, use the following Peachtree feature:
: Maintain; defaults, general ledger.
Edit journal transactions.
Tasks; general journal transaction.
Maintain chart of accounts.
Company page; link to restore.
Question 10. Question :
(TCO 4) The December 31 balance in Mr. Firestone’s retained earnings account (Account No. 3910) is:
: Revenue minus expenses.
assets minus liabilities plus owner’s equity.
year-to-date net income plus the total of the drawing account.
year-to-date net income minus the total of the drawing account.
capital minus drawing.
Question 11. Question :
(TCO 5) To change an entry on the Write Checks window or Receipts window, do this:
: make a completely new entry.
delete the record.
add a transaction line.
select Maintain; Chart of Accounts.
edit the record.
Question 12. Question :
(TCO 5) The Write Checks window automatically debits the following account:
: Account No. 1020, Checking Account.
the Expense account selected.
You need to select the account credited, not debited.
Account No. 1040, IRA Savings.
Account No. 1010, Money Market.
Question 13. Question :(TCO 5)
In Chapter 10, you do the following:: set up a retail business.
select November 2010 as the accounting period.
record deposits, checks, and ATMs.
print the chart of accounts.
record purchase invoices.
Question 14. Question :
(TCO 6) On the Navigation Bar, make the following selections to apply the sale of an irrigation system to the Franklin Botanical Gardens job:
: Customers & Sales page; click on the Sales Invoices icon and select New Sales Invoice.
Customers & Sales page; click on the Sales Invoices icon and select View and Edit Sales Invoices.
Vendor & Purchases page; click on Purchase Orders and select new Purchase Order.
Customers & Sales page; click on the Jobs icon and select New Jobs.
Inventory & Services page; select the Inventory Items icon, then select View and Edit.
Question 15. Question :
(TCO 6) The start date for the Franklin Botanical Gardens job is:
: January 3, 2010.
February 3, 2010.
March 3, 2010.
March 4, 2010.
April 3, 2010.
Question 16. Question : (TCO 6) After completing the exercises in Chapter 5, restore the following backup to start Chapter 6: \: Chapter 5.ptb. Exercise 5.ptb. Exercise 5-2.ptb. Exercise 5-1.ptb. Bgs.ptb.
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