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Solution Manual For Computer Accounting with QuickBooks Online, 2nd Edition

Solution Manual For Computer Accounting with QuickBooks Online, 2nd Edition helps you grasp fundamental concepts with detailed textbook-based explanations.

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    PRACTICE QUIZ 1 Q1.1 Answer c Q1.2 Answer a Q1.3 Answer b Q1.4 Answer a, c Q1.5 Answer a Q1.6 Answer d Q1.7 Answer a, b Q1.8 Answer d Q1.9 CHAPTER 1 QUICKBOOKS ONLINE NAVIGATION AND SETUP SOLUTIONS E1. 1

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    Answer a. 3 b. 2 c. 4 d. 1 Q1.10 Answer d Q1.11 Answer a, c CHAPTER 1 QUICKBOOKS ONLINE NAVIGATION AND SETUP SOLUTIONS E1. 2

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    EXERCISES 1 E1.1 Company Settings: Company E1.2 Company Settings: Sales E1.3 Company Settings: Expenses E1.4 Company Settings: Advanced 1. Not sure/Other/None 2. noreply@quickbooks.com 3. 123 Sierra Way, San Pablo, CA 87999 1. Net 30 2. O ff 3. On 4. On 5. O ff 6. On 7. On 1. On 2. On 3. On 4. On 1. January 2. Same as fiscal year 3. Accrual 4. O ff 5. On CHAPTER 1 QUICKBOOKS ONLINE NAVIGATION AND SETUP SOLUTIONS E1. 3

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    E1.5 Chart of Accounts E1.6 Chart of Accounts E1.7 Register 6. On 7. On 8. On 9. United States Dollar 10. On 1. Bank 2. Credit Card 3. Accounts Receivable (A/R) 4. Expenses 5. Other Current Assets 6. Income 1. Name 2. Type 3. Detail Type 4. QuickBooks Balance 5. Bank Balance 6. Action 1. Ref No. Type 2. Payee Account 3. Memo 4. Payment 5. Deposit 6. Balance CHAPTER 1 QUICKBOOKS ONLINE NAVIGATION AND SETUP SOLUTIONS E1. 4

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    E1.8 Transactions E1.9 QBO SatNav 1. Other 2. Employees 3. Vendors 4. Customers 5. Employees 6. Other 7. Vendors 8. Customers 9. Vendors 10. Vendors 11. Customers 12. Customers 1. QBO Reports 2. QBO Settings 3. QBO Transactions 4. QBO Reports 5. QBO Transactions 6. QBO Reports CHAPTER 1 QUICKBOOKS ONLINE NAVIGATION AND SETUP SOLUTIONS E1. 5

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    E1.10 QBO Tools 1. Create (+) 2. Gear 3. Create (+) 4. Gear 5. Create (+) 6. Gear 7. Create (+) 8. Gear 9. Create (+) 10. Create (+) 11. Create (+) 12. Create (+) 13. Gear 14. Create (+) 15. Gear 16. Create (+) CHAPTER 1 QUICKBOOKS ONLINE NAVIGATION AND SETUP SOLUTIONS E1. 6

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    CHAPTER 1 QUICKBOOKS ONLINE NAVIGATION AND SETUP SOLUTIONS E1. 7

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    PROJECT 1.1 P1.1.1 Set Up QBO P1.1.2 Company Settings: Sales P1.1.3 Company Settings: Expenses ______________________ MookieTheBeagle.com 2017 Carl K. Yazigi. All Rights Reserved. Used with Permission. MookieTheBeagle.com™, Mookie The Beagle™, and the Mookie character, names, and related indicia are trademarks of Carl K. Yazigi and used with permission. 1. e. Same as company name 1. Net 30 2. O ff 3. O ff 4. On 5. O ff 6. On 7. On 1. On 2. O ff 3. O ff 4. Change to On 5. O ff 6. Change to On CHAPTER 1 QUICKBOOKS ONLINE NAVIGATION AND SETUP SOLUTIONS P1. 1

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    P1.1.4 Company Settings: Advanced P1.1.5 Chart of Accounts 1. January 2. Same as fiscal year 3. Accrual 4. O ff 5. Small business corporation, two or more owners (Form 1120S) 6. O ff 7. On 8. On 9. O ff 10. On 11. United States Dollar 12. On 1. Other Current Assets 2. Equity 3. Equity 4. Income 5. Income 6. Income 7. Cost of Goods Sold 8. Expenses 9. Expenses 10. Expenses 11. Expenses 12. Expenses 13. Expenses CHAPTER 1 QUICKBOOKS ONLINE NAVIGATION AND SETUP SOLUTIONS P1. 2

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    14. Expenses 15. Expenses 16. Expenses 17. Expenses 18. Expenses 19. Expenses 20. Expenses 21. Expenses 22. Expenses 23. Expenses 24. Expenses 25. Expenses 26. Expenses CHAPTER 1 QUICKBOOKS ONLINE NAVIGATION AND SETUP SOLUTIONS P1. 3

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    PRACTICE QUIZ 2 Q2.1 Answer a, d Q2.2 Answer a, b Q2.3 Answer d Q2.4 Answer b Q2.5 Answer d Q2.6 Answer d Q2.7 Answer a CHAPTER 2 QBO CHART OF ACCOUNTS SOLUTIONS E2. 1

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    Q2.8 Answer a. 3 b. 2 c. 4 d. 1 Q2.9 Answer b Q2.10 Answer b Q2.11 Answer c Q2.12 Answer a Q2.13 Answer c Q2.14 Answer a CHAPTER 2 QBO CHART OF ACCOUNTS SOLUTIONS E2. 2

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    EXERCISES 2 E2.1 COA: Types of Accounts 1. Expenses 2. Expenses 3. Accounts Receivable (A/R) 4. Expenses 5. Income 6. Expenses 7. Accounts Payable (A/P) 8. Credit Card 9. Bank 10. Other Current Liabilities 11. Other Current Asset 12. Equity 13. Equity 14. Other Income 15. Income 16. Income 17. Income 18. Other Current Asset 19. Cost of Goods Sold 20. Long Term Liabilities 21. Expenses 22. Expenses 23. Expenses 24. Income CHAPTER 2 QBO CHART OF ACCOUNTS SOLUTIONS E2. 3

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    E2.2 Aligning COA and Tax Return E2.3 Display and Enter Account Numbers 1. Schedule C Line 4 2. Schedule C Line 8 3. Schedule C Line 17 4. Schedule C Line 21 5. Schedule C Line 18 6. Schedule C Line 20 7. Schedule C Line 23 8. Schedule C Line 25 1. c. Number 2. 1001 Checking 1002 Savings 1003 Accounts Receivable (A/R) 1004 Inventory Asset 1005 Prepaid Expenses 3. 2001 Accounts Payable (A/P) 2002 Mastercard 2003 Visa 2004 Arizona Dept. of Revenue Payable 2005 Board of Equalization Payable 2006 Loan Payable 2007 Notes Payable 4. 3001 Opening Balance Equity 3002 Retained Earnings CHAPTER 2 QBO CHART OF ACCOUNTS SOLUTIONS E2. 4

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    E2.4 COA: Add Accounts 5. 4001 Billable Expense Income 4002 Design Income 4003 Fees Billed 4004 Landscaping Services 4005 Other Income 4006 Pest Control Services 4007 Sales of Product Income 4008 Services 6. 5001 Cost of Goods Sold 5002 Advertising 5003 Automobile 5004 Bank Charges 5005 Commissions & Fees 5006 Disposal Fees 5007 Dues & Subscriptions 5008 Equipment Rental 5009 Insurance 5010 Job Expenses 5011 Legal & Professional Fees 5012 Maintenance & Repair 5013 Meals and Entertainment 5014 O ffi ce Expenses 5015 Promotional 5016 Purchases 5017 Rent or Lease 5018 Stationary & Printing 5019 Supplies 5020 Taxes & Licenses 5021 Travel 5022 Travel Meals 5023 Utilities 1. b. Detail Type: Interest Paid CHAPTER 2 QBO CHART OF ACCOUNTS SOLUTIONS E2. 5

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