03 Jul Ind. Project
- Set up the new company Farm Branch Rentals in the computerized accounting system software you selected with the information in the table that follows.
- Set up the chart of accounts listed below; currently all accounts are going to begin with a zero balance.
- Run an accounts listing of the chart of accounts and save in PDF format for submission.
| Name of Company: | Farm Branch Rentals |
| Address: | 201 Farm Branch Road,
Rocky Mount NC 27811 |
| Phone Number | 555-897-7752 |
| Federal ID Number | 56-4785965 |
| Business Entity | Corporation |
| Web Address: | www.farmbranchrentals.com |
| Email: | farmbranchrentals@abc.com |
| Chart of Accounts | |
| Cash | Income Taxes Payable |
| Accounts Receivable | Common/Capital Stock |
| Prepaid Rent | Retained Earnings |
| Prepaid Insurance | Dividends |
| Office Supplies | Rental Fees Earned |
| Rental Equipment | Salaries Expense |
| Accumulated Depreciation: Rental Equipment | Utilities Expense |
| Notes Payable | Rent Expense |
| Accounts Payable | Office Supplies Expense |
| Interest Payable | Depreciation Expense |
| Salaries Payable | Interest Expense |
| Dividends Payable |
Income Taxes Expense
Dividend Expense
|
| Unearned Rental Fees | |
- Set up an account for the new company using the computerized accounting system selected.
- Use December 2014 as the first accounting period for the computerized accounting system selected.
- Revise, and set up the chart of accounts to match the chart of accounts provided by Samantha and Larry.
- After opening the company,
- Click “Company” from the menu bar,
- Then click “Chart of Accounts” in the Company section of the Home page.
- Right click the account, then select “Edit Account.”
- Run an account listing prior to saving.
- From the menu at the top of the window, select File & Save as PDF.
- Save the file as P1-IP_LASTNAME on your computer or external device.
- Submit your PDF.
For assistance with your assignment, please use your text, Web resources, and all course materials.
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