2. 2 Exploring QuickBooks with Rock Castle Construction CHAPTER 2 QUICK CHECK CHAPTER 2 * Chart of Accounts (Account Listing) EXERCISE 2.1 * Task 3: Statement of Cash Flows * Task 4: To Do List EXERCISE 2.2 * Task 3: Revised Chart of Accounts EXERCISE 2.3 Your Choice: List of Industry-Specific Features EXERCISE 2.4 Schedule C Tax Form 1120S Tax Form PROJECT 2 QUICK CHECK PROJECT 2 * Chart of Accounts (Account Listing) * Statement of Cash Flows
Chapter 2 Customizing QuickBooks and the Chart of Accounts 2. 3 CHAPTER 2 CHART OF ACCOUNTS (ACCOUNT LISTING)
2. 4 Exploring QuickBooks with Rock Castle Construction
Chapter 2 Customizing QuickBooks and the Chart of Accounts 2. 5 EXERCISE 2.1 TASK 3 STATEMENT OF CASH FLOWS
2. 6 Exploring QuickBooks with Rock Castle Construction EXERCISE 2.1 TASK 4 TO DO LIST
Chapter 2 Customizing QuickBooks and the Chart of Accounts 2. 7 EXERCISE 2.2 TASK 3 REVISED CHART OF ACCOUNTS
2. 8 Exploring QuickBooks with Rock Castle Construction EXERCISE 2.3 YOUR CHOICE: LIST OF INDUSTRY-SPECIFIC FEATURES Students are to select two sample companies of their choice (other than a sample product-based business or a sample service-based business) and list the different industry-specific features.
Chapter 2 Customizing QuickBooks and the Chart of Accounts 2. 9 EXERCISE 2.4 SCHEDULE C TAX FORM
2. 10 Exploring QuickBooks with Rock Castle Construction
Chapter 2 Customizing QuickBooks and the Chart of Accounts 2. 11 EXERCISE 2.4 1120S TAX FORM
2. 12 Exploring QuickBooks with Rock Castle Construction
Chapter 2 Customizing QuickBooks and the Chart of Accounts 2. 13
2. 14 Exploring QuickBooks with Rock Castle Construction
Chapter 2 Customizing QuickBooks and the Chart of Accounts 2. 15
2. 16 Exploring QuickBooks with Rock Castle Construction PROJECT 2 CHART OF ACCOUNTS (ACCOUNT LISTING) t 2 Larry's Landscaping Account Type Balance Total Description Accnt. # Tax Line Barter Account Bank 0.00 Business to Business Barter <Unassigned> Cash Expenditures Bank 225.23 Wash acct for cash expenses <Unassigned> Checking Bank 99,250.02 Great Statewide Bank <Unassigned> Savings Bank 5,987.50 Great Statewide Bank <Unassigned> 1200 Accounts Receivable Accounts Receivable 35,810.02 1200 <Unassigned> Employee advances Other Current Asset 100.00 <Unassigned> Prepaid Insurance Other Current Asset 500.00 <Unassigned> 1300 Inventory Asset Other Current Asset 6,937.08 1300 <Unassigned> 1400 Undeposited Funds Other Current Asset 110.00 1400 <Unassigned> 1500 Truck Fixed Asset 12,025.00 1500 <Unassigned> 1500 Truck:1510 Original Purchase Fixed Asset 13,750.00 Purchase Price of Asset 1510 <Unassigned> 1500 Truck:1520 Accumulated Depreciation Fixed Asset -1,725.00 1520 <Unassigned> 2000 Accounts Payable Accounts Payable 2,578.69 2000 <Unassigned> QuickBooks Credit Card Credit Card 70.00 Platinum MasterCard <Unassigned> QuickBooks Credit Card:QBCC Field Office Credit Card 45.00 QBCC for Field Office Manager <Unassigned> QuickBooks Credit Card:QBCC Home Office Credit Card 25.00 QBCC for Management Office <Unassigned> QuickBooks Credit Card:QBCC Sales Dept Credit Card 0.00 QBCC for Sales Office <Unassigned> 2100 CalOil Card Credit Card 1,403.99 2100 <Unassigned> Payments on Account Other Current Liability -1,520.00 Deposits rec'd from customers <Unassigned> 2102 Payroll Liabilities Other Current Liability 5,520.47 2102 <Unassigned> 2111 Direct Deposit Liabilities Other Current Liability 0.00 2111 <Unassigned> 2300 Sales Tax Payable Other Current Liability 2,086.50 2300 <Unassigned> Bank of Anycity Loan Long Term Liability 19,932.65 <Unassigned> Equipment Loan Long Term Liability 3,911.32 <Unassigned> 2400 Bank Loan Long Term Liability 5,369.06 Recapitalization Loan 2400 <Unassigned> 3000 Owner's Equity Equity -5,000.00 3000 <Unassigned> 3000 Owner's Equity:3010 Owner's Draw Equity -5,000.00 3010 <Unassigned> 3000 Owner's Equity:3020 Owner's Contributions Equity 0.00 3020 <Unassigned> 3100 Retained Earnings Equity 3100 <Unassigned> 3200 Opening Bal Equity Equity 151,970.07 3200 <Unassigned> Retail Sales Income <Unassigned> Service Income <Unassigned> 4100 Landscaping Services Income 4100 Schedule C: Gross receipts or sales 4100 Landscaping Services:4000 Design Services Income 4000 Schedule C: Gross receipts or sales 4100 Landscaping Services:4110 Job Materials Income 4110 Schedule C: Gross receipts or sales 4100 Landscaping Services:4110 Job Materials:Mis Income <Unassigned> 4100 Landscaping Services:4110 Job Materials:411 Income 4111 Schedule C: Gross receipts or sales 4100 Landscaping Services:4110 Job Materials:411 Income 4112 Schedule C: Gross receipts or sales 4100 Landscaping Services:4110 Job Materials:411 Income 4113 Schedule C: Gross receipts or sales 4100 Landscaping Services:4110 Job Materials:411 Income 4114 Schedule C: Gross receipts or sales 4100 Landscaping Services:4120 Labor Income 4120 Schedule C: Gross receipts or sales 4100 Landscaping Services:4120 Labor:4121 InstaIncome 4121 Schedule C: Gross receipts or sales 4100 Landscaping Services:4120 Labor:4122 MainIncome 4122 Schedule C: Gross receipts or sales 4100 Landscaping Services:4130 Equipment Renta Income 4130 Schedule C: Gross receipts or sales 4200 Discounts Income 4200 Schedule C: Gross receipts or sales 4300 Other Income Income 4300 Schedule C: Other business income 4400 Markup Income Income 4400 Schedule C: Gross receipts or sales 4999 Uncategorized Income Income 4999 Schedule C: Other business income 5000 Cost of Goods Sold Cost of Goods Sold 5000 Schedule C: Materials/supplies, COGS 6000 Advertising Expense 6000 Schedule C: Advertising 6100 Amortization Expense Expense 6100 <Unassigned> 6200 Automobile Expense 6200 Schedule C: Car and truck expenses 6200 Automobile:Insurance Expense <Unassigned> 6200 Automobile:License & Fees Expense <Unassigned>
Chapter 2 Customizing QuickBooks and the Chart of Accounts 2. 17 Account Type Balance Total Description Accnt. # Tax Line 6200 Automobile:6210 Fuel Expense 6210 Schedule C: Car and truck expenses 6200 Automobile:6220 Maintenance & Repairs Expense 6220 Schedule C: Car and truck expenses 6300 Bad Debt Expense 6300 Schedule C: Bad debts from sales/services 6400 Bank Service Charges Expense 6400 Schedule C: Interest expense, other 6500 Bond Expense Expense 6500 Schedule C: Interest expense, other 6561 Payroll Expenses Expense 6561 <Unassigned> 6600 Delivery Fee Expense 6600 Schedule C: Other business expenses 6700 Depreciation Expense 6700 Schedule C: Depletion 6700 Depreciation:6710 Section 179 Expense 6710 Schedule C: Other business expenses 6800 Dues and Subscription Expense 6800 Schedule C: Legal and professional fees 6900 Insurance Expense 6900 Schedule C: Insurance, other than health 6900 Insurance:6910 Disability Expense 6910 Schedule C: Insurance, other than health 6900 Insurance:6920 Liability Expense 6920 Schedule C: Insurance, other than health 6900 Insurance:6930 Worker's Comp Expense 6930 Schedule C: Insurance, other than health 6999 Uncategorized Expenses Expense 6999 <Unassigned> 7000 Interest Expense Expense 7000 Schedule C: Interest expense, other 7000 Interest Expense:7010 Finance Charges Expense 7010 Schedule C: Interest expense, other 7000 Interest Expense:7020 Interest on Loan Expense 7020 Schedule C: Interest expense, other 7100 Job Expenses Expense 7100 Schedule C: Other costs, COGS 7100 Job Expenses:7110 Job Materials Expense 7110 Schedule C: Materials/supplies, COGS 7100 Job Expenses:7110 Job Materials:7111 DeckExpense 7111 Schedule C: Materials/supplies, COGS 7100 Job Expenses:7110 Job Materials:7112 FounExpense 7112 Schedule C: Materials/supplies, COGS 7100 Job Expenses:7110 Job Materials:7113 Plan Expense 7113 Schedule C: Materials/supplies, COGS 7100 Job Expenses:7110 Job Materials:7114 SprinExpense 7114 Schedule C: Materials/supplies, COGS 7100 Job Expenses:7120 Equipmental Rental Expense 7120 Schedule C: Rent/lease vehicles, equip. 7100 Job Expenses:7130 Permits Expense 7130 Schedule C: Other costs, COGS 7100 Job Expenses:7140 Subcontractors Expense 7140 Schedule C: Labor, cost of goods 7200 Miscellaneous Expense 7200 Schedule C: Other business expenses 7250 Mileage Reimbursement Expense 7250 Schedule C: Car and truck expenses 7300 Office Supplies Expense 7300 Schedule C: Office expenses 7310 Supplies Expense 7310 Schedule C: Supplies (not from COGS) 7320 Computer Supplies Expense 7320 Schedule C: Supplies (not from COGS) 7400 Professional Fees Expense 7400 Schedule C: Legal and professional fees 7400 Professional Fees:7410 Accounting Expense 7410 Schedule C: Legal and professional fees 7400 Professional Fees:7420 Legal Expense 7420 Schedule C: Legal and professional fees 7400 Professional Fees:7430 Professional Design FExpense 7430 Schedule C: Legal and professional fees 7500 Rent Expense 7500 Schedule C: Rent/lease other bus. prop. 7550 Repairs Expense 7550 Schedule C: Repairs and maintenance 7550 Repairs:7551 Building Repairs Expense 7551 Schedule C: Repairs and maintenance 7550 Repairs:7552 Computer Repairs Expense 7552 Schedule C: Repairs and maintenance 7550 Repairs:7553 Equipment Repairs Expense 7553 Schedule C: Repairs and maintenance 7600 Taxes Expense 7600 Schedule C: Taxes and licenses 7600 Taxes:7610 Federal Expense 7610 Schedule C: Taxes and licenses 7600 Taxes:7620 Property Expense 7620 Schedule C: Taxes and licenses 7600 Taxes:7630 State Expense 7630 Schedule C: Taxes and licenses 7700 Tools and Misc. Equipment Expense 7700 Schedule C: Other business expenses 7750 Utilities Expense 7750 Schedule C: Utilities 7750 Utilities:7751 Gas and Electric Expense 7751 Schedule C: Utilities 7750 Utilities:7752 Water Expense 7752 Schedule C: Utilities 7750 Utilities:7753 Telephone Expense 7753 Schedule C: Office expenses 7750 Utilities:7754 Internet Provier Expense 7754 Schedule C: Office expenses Misc Income Other Income <Unassigned> 8000 Interest Income Other Income 8000 Schedule C: Other business income 9000 Other Expenses Other Expense 9000 Schedule C: Other business expenses Purchase Orders Non-Posting <Unassigned> 5 Sales Orders Non-Posting 5 <Unassigned>
2. 18 Exploring QuickBooks with Rock Castle Construction PROJECT 2 STATEMENT OF CASH FLOWS