11 May WHAT TYPES OF ENTRIES ARE RECORDED IN BELLWETHER’S GENERAL JOURNAL?
Assignment 2: Accounting Analysis Project
The
Accounting Analysis Project is based on the completion of the Bellwether Garden
Supply (BGS) project and consists of two (2) separate parts textbook
questions, and an analysis in response to the BGS project.
Part I: BGS
Textbook Questions
1. Answer
the fifteen (15) questions regarding the Bellwether Garden Supply scenario.
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.
Module
Window
Journal
Purchases/Receive
Inventory
Sales/Invoicing
Payments
Receipts
General
Journal Entry
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 firms 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. Attached.
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.
Assignment 2: Accounting Analysis ProjectThe
Accounting Analysis Project is based on the completion of the Bellwether Garden
Supply (BGS) project and consists of two (2) separate parts textbook
questions, and an analysis in response to the BGS project.Part I: BGS
Textbook Questions1. Answer
the fifteen (15) questions regarding the Bellwether Garden Supply scenario. 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.ModuleWindowJournalPurchases/ReceiveInventorySales/InvoicingPaymentsReceiptsGeneral
Journal Entry7.
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