ACC2385 Microcomputer Applications in Accounting Assignment

Reference no: EM132854858

ACC2385 Microcomputer Applications in Accounting Assignment - Algonquin College, Canada

Course Learning Requirements - This Project relates to the following Course Learning Requirements:

CLR1: Using accounting software, identify ad use the basic features, modules and aids to produce reliable and accurate financial information.

CLR2: Using accounting software, record all transaction in the accounting cycle.

CLR3: Using accounting software, establish and maintain payroll for a company.

CLR4: Using accounting software, produce and export management reports and financial statements.

Objective of this Project - The objective of this Project is to test the students' ability to input source documents and create financial reports for small business using all the modules. It will include Customer and Vendor Records; Account and Ledger Setup; Payroll and Inventory and Inputting Historical data.

Project Scenario - In this project, you will be entering inventory transactions for Sparkles, a company located in Toronto Ontario, owned and operated by Rubie Diamond. The Jewelry store sells diamond jewelry in unique gold setting and male customized setting for the precious gem. As a child, Diamond experiments with many media. She created original and interesting jewelry with ceramics and modelling clay. But the sparkle of diamonds always held the most interest for her, so she completed a jewelry making and design program at the community college. There she learned how to work with gems and to make original gold settings. Diamond will use the inventory features of QuickBooks after closing the books at the end of 2019 and submitting all payroll and tax liabilities.

SOURCE DOCUMENTS - Using the Sparkles QuickBooks data file (Sparkles.qbw or Sparkles), record entries for the source documents for January 2020. If you have completed the source documents for this company in the text or the Additional Transactions exercise, please recopy the data file from the Data CD before starting.

Reports to be submitted -

1. Print the Trial Balance from January 1 to February 06, 2020.

2. Print Journal Entries for all journals from January 1 to February 6, 2020.

3. Print Balance Sheet at Feb 6, 2020.

4. Print Profit and Loss Statement from January 1 to February 6, 2020.

5. Print Accounts Receivable Detail - February 6, 2020.

6. Print Accounts Payable Detail - February 6, 2020.

7. Print Employee Earnings Summary - January 1 - 31, 2020.

8. Print Payroll Summary ending February 6, 2020.

9. Print Inventory Valuation Summary at February 6, 2020.

10. Print Bank Reconciliation - Chequing Account.

11. Print Visa Reconciliation - Report.

Attachment:- Microcomputer Applications in Accounting Assignment Files.rar

Reference no: EM132854858

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