help with exercise on quickbooks chapter 5 1

Exercise 5-1: Follow the instructions below to complete Exercise 5-1:


  1. If necessary start QBO.
  2. Add the following customers
  1. To enter the 12/1 checks and ATM, use the transaction register. Before entering checks, make sure your Checking account register shows the same 11/30 balance, $61,469.59, as the transaction register. (Hint: imageChart of Accounts displays > 101 Checking.) When necessary, type the appropriate payment amounts, ATM, and check number.
  2. After recording the 12/1 transactions, display the Bank Register for Account 101 Checking. (Hint: From the Navigation bar, select Accounting > on the Chart of Accounts double-click 101 Checking.) Make sure your ending balance is $61,001.16. If not, edit checks.Before entering the transactions on the next page, make sure the Checking account register shows $61,001.16.

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If needed, Checks can be edited by drilling down from the Vendors Page or Audit Log.


Date Description of Transaction
12/1/20XX Paid the vendor, AmpleStore Inc. for Bill No. AS7, $300, Ref no. 1041. (Hint:Expenses > Vendors > AmpleStore > Make payment. When you uncheck Bill # AS12, the bill you want to pay, AS7, is checked.)


Click <Save and new>.

Exercise 5-2: Follow the instructions below to complete Exercise 5-2:

  1. Export these reports to Excel and PDF. Run most of the reports from 10/1/20XX to 12/1/20XX, or as shown below. (Hint: When the report needs as As of date, use 12/1/20XX)

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  2. Check Your Figures (from 10/1/20XX to 12/1/XX):
    • Account 101 Checking, $63,581.16
    • Account 105 Accounts Receivable, $1,410.00
    • Account 115 Merchandise Inventory, $10,155.00
    • Account 201 Accounts Payable, $16,900.00
    • Account 401 Sales, $24,330.00
    • Account 501, Cost of Goods Sold, $9,165.00
    • Account 621 Office Supplies, $460.42
    • Total Liabilities and Equity, $94,146.16
    • Net Income, $12,246.16
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