Reference no: EM13491699
1. Examine Bellwether Garden Supply's chart of accounts. Are all of the account types in accordance with usual accounting procedures? If not, list the accounts that could be classified differently.
2. What is the balance in Account No. 89500, Purchase Disc-Expense Item? Is it a debit or credit balance? Why? (Hint: Display the General Ledger report; select Options. In the Time Frame period, select all. Select the filter GL Account ID from 89500 to 89500.) Explain.
3. How do you compute the sales discount? How does Sage 50 compute the sales discount?
4. How do you change a sales discount?
5. What types of entries are recorded in Bellwether's general journal?
6. How does Sage 50 identify these windows? Identify the software module and journal.
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Module
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Window
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Journal
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Purchases/Receive
Inventory
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Sales/Invoicing
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Payments
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Receipts
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General Journal Entry
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7. There are two ways to access backup and restore. Explain both.
8. On the Payroll Entry window, what are the differences between the amounts in the Taxes-Benefits-Liability area that have minus signs in front of them and amounts that do not show a minus sign?
9. Does Bellwether track Overtime pay in a separate account? Briefly explain.
10. What type of Accounting Method does Bellwether use? How do you find that out and what does it mean?
11. What is the Business Status Navigation Center? Can it be customized? Does the Business Status Center show your security settings? Can access be limited to the Sage 50's Navigation Centers?
12. Is the net income shown on the Business Status Navigation Center for the month or year to date? How do you check that?
13. What report verifies the balance in Account No. 11000 Accounts Receivable? What is the Accounts Receivable balance in the General Ledger and in the Customer Ledgers? Why is there a difference? (Hint: Look in the journals for Customers & Sales module.)
14. What report verifies the balance in Account No. 20000 Accounts Payable? What is the Accounts Payable balance in the General Ledger and in the Vendor Ledgers? Why is there a difference? (Hint: Look in the journals for the Vendors & Payables module.)
15. If you want to view a report that shows the changes made to maintenance items and transactions, what report would you look at?
Part II: BGS Analysis
2. Write a four to five (4-5) page paper in which you:
a. Analyze the financial condition of Bellwether Garden Supply, and interpret the result for company leaders.
b. Submit a copy of the firm's key financial statements and reports (balance sheet, income statement, statement of retained earnings, statement of changes in financial position, and customer ledger) in one (1) Excel document.
c. Make recommendations for how management should address major business decisions or directions for the company over the next two (2) years.
d. Use at least two (2) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources.
Attachment:- Financial-Statement.xlsx