Case

On april 1, 2015 lynn garcia started her business, lynn’s music studio, as a music instructor. she began by depositing 10,000 cash in a bank account in the business name. she also contributed a piano and some gitars. the musical instruments have an outstanding note balance of 2,000, which will now be assumed by the business. the cash, musical instruments, note payable, and capital have all been recorded in the opening balances of the books. Lynn anticipates spending the beginning of the month setting up her studio and expects to provide piano and guitar lessons laer in the months. Record the transactions listed below for the month of april.

1.Open the company file CH2 Lynn’s Music Studio.QBW.

2. Make a backup copy of the company file LMS2 [Your Name] Lynn’s

Music Studio.

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3. Restore the backup copy of the company file. In both the Open Backup

Copy and Save Company File as windows, use the file name LMS2

[Your Name] Lynn’s Music Studio.

4. Change the company name to LMS2 [Your Name] Lynn’s Music Studio.

5. Add the following vendors to the Vendor Center:

VENDOR NAME: Pioneer Phone

OPENING BALANCE: 0 AS OF April 1, 2014

COMPANY NAME: Pioneer Phone

First Name: Customer

Last Name: Service

Main Phone: 570-555-6000

Fax: 570-555-6500

Main Email: pioph@emcp.net

BILLED FROM: 1000 Route 6

Carbondale, PA 18407

PAYMENT TERMS: Net 15 Days

VENDOR NAME: Steamtown Electric

OPENING BALANCE: 0 AS OF April 1, 2014

COMPANY NAME: Steamtown Electric

First Name: Customer

Last Name: Service

Main Phone: 570-555-2500

Fax: 570-555-3000

Main Email: steam@emcp.net

BILLED FROM: 150 Vine Lane

Scranton, PA 18501

PAYMENT TERMS: Net 15 Days

Delete the following vendor:

Universal Electric

Edit the following vendor:

Mutual Insurance Company telephone number: 570-555-5600

6. Using the appropriate window, record the following transactions for

April 2014:

Apr. 2 Received bill for rent for the month of April from

Viewhill Realty Management, $600, paid immediately,

Check No. 1. Do not print check.

Apr. 2 Received a bill for a 1-year insurance policy on account

from Mutual Insurance Company, Invoice No. 4010102,

$1,200, Net 30 Days.

Apr. 5 Purchased furniture on account from Mills Family

Furniture, Invoice No. 1257, $2,500, Net 30 Days.

Apr. 6 Purchased a computer system on account from Computer

Town, Invoice No. X234, $3,000, Net 30 Days.

Apr. 9 Purchased music supplies on account from Strings,

Sheets, & Such, Invoice No. 1290, $500, Net 15 Days.

vendors 2-39

Apr. 9 Received bill for tuning of piano and guitars from Tune

Tones, $100, paid immediately, Check No. 2. Tune

Tones is a new vendor:

VENDOR NAME: Tune Tones

OPENING BALANCE: 0 AS OF April 1, 2014

COMPANY NAME: Tune Tones

First Name: Tony

Last Name: Tune

Main Phone: 570-555-1111

Fax: 570-555-2222

Main Email: TUNE@emcp.net

BILLED FROM: 500 Monroe Ave.

Dunmare, PA 18512

PAYMENT TERMS: Net 30 Days

Apr. 9 Purchased office supplies on account from Paper, Clips,

and More, Invoice No. 01-1599, $400, Net 30 Days.

Apr. 12 Received the telephone bill from Pioneer Phone, Invoice

No. pp401, $50, Net 15 Days.

Apr. 13 Received utilities bill from Steamtown Electric, Invoice

No. SE401, $70, Net 15 Days.

Apr. 20 Paid in full Strings, Sheets, & Such, Invoice No. 1290

(Check No. 3). Do not print check.

Apr. 23 Received a credit memo from Paper, Clips, and More,

Invoice No. CM250, $50, for office supplies returned.

Apr. 26 Paid in full Pioneer Phone, Invoice No. pp401 (Check

No. 4).

Apr. 27 Paid in full Steamtown Electric, Invoice No. SE401

(Check No. 5).

Apr. 30 Made a partial payment of $1,000 to Mills Family

Furniture (Check No. 6).

Apr. 30 Made a partial payment of $1,000 to Computer Town

(Check No. 7).

Apr. 30 The owner, Lynn Garcia, withdrew $1,000, for personal

use (Check No. 8).

7. Display and print the following reports for April 1, 2014, to April 30, 2014:

a. Unpaid Bills Detail

b. Vendor Balance Detail

c. Vendor Contact List

d. Journal

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