University of Toronto Accounts Payable and Checklist and Transactions I need help with my assignment -accounting entries but needs to be done with sage 50

University of Toronto Accounts Payable and Checklist and Transactions I need help with my assignment -accounting entries but needs to be done with sage 50 accounting 2018 software i will provide all required information how to download this software if necessary. Assignment # 2 : Accounts Payable – Checklist and Transactions
Note: This assignment is covered in recordings made 6/29/19 & 7/2/19
Checklist:
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Complete all Transactions (Listed Below)
PART I – Print and Submit the following reports in PDF format
?Purchase Journal Entries – May 1 – May 31
?Payment Journal Entries – May 1 – May 31
?General Journal Entries – May 1 – May 31
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Grading for ALL Entries TOTAL 44 Marks
?Supplier Aged Detail for All Suppliers – May 31 (5 Marks)
?Screen Capture the Accounts Payable Linked Accounts from the Set Up Menu
(Ensure the screen capture includes your name in the company name) (5 Marks)
?PART II – In a word document answer the following questions – submit to Blackboard (BB)
1. Referencing the Screen Capture of the Accounts Payable Linked Accounts – Describe
the role/function that the General Ledger 2200 Accounts Payable Account plays in the
functionality of the General Ledger and Accounts Payable Subledger. Why are the
accounts linked? (5 Marks)
2. Referencing the Supplier Aged Detail Report for All Suppliers – State 3 different ways
that this report could be used by the Accounts Payable Clerk. (6 Marks)
3. Reference the Entries for GROEN Fields – Is it possible to Adjust a posted cheque
payment at any time? Why or why not? Be specific. (5 Marks)
?Submit your Final Company Backup File – YOUR ASSIGNMENT WILL NOT BE
GRADED WITHOUT THE COMPANY BACKUP FILE. The Backup Version of the
file can only be submitted via Blackboard. Blackboard will not accept folders.
Transactions
Below is a list of all the transactions done in Chapter 3 Bihn’s Bins.
The ones with the checkmarks were completed in the class recordings.
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CHART OF POSTABLE ACCOUNTS
GROEN FIELDS
> 1570 Greenhouse
1580 Buildings & Property
> REVENUE
4100 Revenue from Sales
ASSETS
1080 Chequing Bank Account
1300 Seed Supplies
1310 Fertilize
1320 Plant Care Supplies
1330 Ofice Supplies
1420 Annual Bedding Plants
1440 Perennial Plant Stock
1460 Tree Inventory
1480 Planters and Hangers
1510 Computer Software
1520 Computer Equipment
1540 Ofice Furniture
1560 Farming Equipment
5130 Data Management
5140 Interest Expense
5150 Soil Treatment Expenses
5160 Property Tales
5190 Telephone and Internet
5220 Payroll Services
LIABILITIES
2100 Bank Loan
2200 Accounts Payable
2650 HST Charged on Sales
2670 HST Paid on Purchases
2850 Mortgage Payable
EXPENSE
5020 Advertising and Promotion
5040 Bank Charges
5050 General Expense
5060 Cleaning Expenses
5070 Maintenance and Repairs
5080 Cost of Goods Sold
5090 Purchase Discounts
5100 Entertainment Expense
5110 Supplies Expense
5120 Hydro Expense
EQUITY
3100 GF, Capital
3150 GF, Drawings
3600 Net Income ?
NOTES: The Chart of Accounts indudes only postable accounts and the Net Income or Current Earnings account Sage 50 uses the Net Income
account for the income Statement to calculate the difference between revenue and expenses before closing the books

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