C10 Lime Light
Ch 10 Payroll -- Lime Light Laundry
This chapter covers Payroll.
When the program opens Lime Light Laundry’s data file, make sure the date is in month/day/year format (January 1, 2008).
The Source Documents start on page 354; the instructions start on 359.
After the last entry on January 21 (page 356), write, “CHECK KEY!”
Make sure you follow the instructions as you do the entries!
Change the company name so it starts with your initials.
- Setup / System Settings / Company Information / Name
Add your initials to the
source document number.
Chapter Work & Evaluation
Add your first name to the beginning of the description for the first entry.
A key is provided for the chapter work (pages 354 to 356). To help you learn:
1. do the entry,
2. then check the key,
3. then post it!
When you finish the last entry on January 31, print the report requested below.
· General Ledger: Reports/Financials/General Ledger/Select All, January 1 to January 21.
· "All" Journal: Reports/Journals/ January 1 to January 21. (with corrections)
Please--do not hand in this report; take it to Evans or Grace if you want help checking it against the key.
Note:
1.
Page 335, Employee Time Sheet #1, always read the a., b., and c. points
before making any entries.
2.
Page 227, Sales Invoice #107, always allow customers to go over their
credit limits.
3.
Page 338, Memo #3, essentially, the Daily Business Manager will create a
“To-Do” list for you. However, at this stage, and the way it is presented in
the text, it is more confusing than helpful. Just ignore the Daily Business
Manager, and do the transactions as listed in the text.
4.
Page 338, Cheque Copy #91, check the Trial Balance on page 329. You want
to reduce the two GST accounts down to “0” and send the Receiver General a
cheque for the difference.
GST Charged on Services 1,890 To offset
Credit balance
Cash 1260 To
offset Debit balance
GST Paid on Purchases 630 Difference
to Receiver General
5.
Page 338, Sales Due: Cash Receipts #36, 37, 38, no discount for Kinglsey
Inn as this is a partial payment.
6.
Page 340, Memo #9, check the Trial Balance on page 329, note that the
Prepaid Insurance is a 12 month policy bought on Dec 31. One month of insurance
costs ($2,400 / 12 = $200). In this entry reduce the assets by $200 and
increase the expense by $200.
When you finish the last entry on January 31, print the reports requested below.
Hand in the following, stapled into one package:
- General Ledger, all accounts (double check), show corrections, for the full
time span (at top of package)
- "All" Journal, for the full time span, show corrections, (at bottom of package)
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This chapter is worth approximately 4% of OA2430
-
-10% if all the posted accounts are not in the ledger
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-10% each for Journal Entry Errors
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-10% for initials not on specified entries--or assignment nor accepted
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-10% each for wrong report, additional report, or report submitted out-of-order
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-10% for not handing in work stapled in the correct order
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Assignments due on last scheduled day of chapter
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Late assignments accepted if in Evans' hands before marking is completed
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Trays in the classroom are used to return work, not hand work in