General Comments

1. The important aspects to learn from the Systems Understanding Aid (SUA) are document and transaction flows. Keep this in mind as you complete the assignments. It is suggested that the journals, ledgers, documents and schedules be neatly prepared in pencil to facilitate corrections. Any type of paper can be used for the schedules as long as they are neatly prepared and can be easily read.
2. A word to the wise: Be careful if you drink a Coke while completing this assignment. One student in the past turned over his drink, ruined all the forms that he had completed (from the carbon paper) and had to buy a new packet and start over.
3. When you turn in the assignment, please hand in your SUA folder with all completed documents and the Instructions, Flowcharts and Ledgers book (IFL). DO NOT TURN IN THE REFERENCE BOOK. You will need the reference book for studying before I get the assignment graded and returned. There will be a ten point deduction for not following this requirement.
4. Selected check figures for the assignment have been included.
5. Remember, this is an individual project. Any questions should be directed to me, not your classmates. Anyone found collaborating on the assignment will receive a zero (0) on the assignment.
6. The completed assignment is due at the beginning of class on October 3, 2000 Late assignments will not be accepted. Do not wait until the last minute to do this assignment. It will take you at least 10-15 hours to complete (according to the authors).
7. You may use this EXCEL file to help you complete the worksheet.

 

Check Figures

Financial Statements

Current Assets	150,852.91
Total Assets	262,137.11
Net Revenues	622,497.05
Operating Expenses (excluding COGS and federal income taxes)	144,059.29
Net Income	31,948.62
Net Cash Provided by Operating Activities	10,556.98
Net Increase in Cash	54,288.98

 Accounts Receivable Aging

Total Accounts Receivable	18,913.00
Current Accounts Receivable	14,665.00

Bank Reconciliation

Outstanding Checks	23,647.29
Unadjusted Cash Balance (for bank reconciliation)	64,149.65

Year-end Worksheet

12-31-9X unadjusted trial balance total	923,559.22
Adjustments Column Total	548,176.66*

 Journals

Sales Journal credit to # 30100	39,081.00
Purchases Journal debit to #30500	17,675.00
Cash Receipts Journal debit to #10100	133,131.88
Cash Disbursements Journal credit to #10100	63,601.11
Payroll Journal debit to #40500	7,920.06

General Ledger Account Balances

#10100 - Cash	64,121.15
#30100 - Sales (pre-closing)	659,289.50
#30500 - Purchases (pre-closing)	474,131.00
#30400 - Cost of Goods Sold (pre-closing)	441,126.15

*Your adjustments column will not add to this figure if you classify adjustments and closing entries differently from the authors.

If these figures do not agree with yours, please let me know (just in case I made an error).

This page was last modified on 08/17/00 .