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Chapter 10 March Source Documents and End of First Quarter Copyright ©2017 by McGraw-Hill Education. All rights reserved. 1 of 11.

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Presentation on theme: "Chapter 10 March Source Documents and End of First Quarter Copyright ©2017 by McGraw-Hill Education. All rights reserved. 1 of 11."— Presentation transcript:

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2 Chapter 10 March Source Documents and End of First Quarter Copyright ©2017 by McGraw-Hill Education. All rights reserved. 1 of 11

3 Copyright ©2017 by McGraw-Hill Education. All rights reserved. Chapter 10 Using source documents, students complete March business transactions. In order to journalize and post transactions, analyze Chapter 10’s source documents. At the end of the first quarter, adjusting entries and financial statements are completed. Use the February 28 bank statement to reconcile Account 101 Checking. 2 of 11

4 Copyright ©2017 by McGraw-Hill Education. All rights reserved. QBO Tips QBO Tips It is the policy of Cloud_Ware to record adjusting entries at the end of the first quarter. The accounting records are complete through March 31, 20XY. In Chapter 10, the end-of-quarter adjusting entries are journalized and posted before Account 101 Checking is reconciled in Exercise 10-1. Refer to Chapter 7’s end-of-quarter adjusting entries to review the accounts and amounts debited and credited. 3 of 11

5 Copyright ©2017 by McGraw-Hill Education. All rights reserved. Files Saved in Chapter 10 The chart below shows the PDF and Excel files saved in Chapter 10. Files can be saved to a USB flash drive, hard-drive location, network, or external media. To identify your file, you could add your name at the end of the suggested file name. PDF & ExcelPage Nos. Chapter 10_Unadjusted Trial Balance389 Chapter 10_Journal397 Chapter 10_March 31 Journal398 Chapter 10_Adjusted Trial Balance399 Chapter 10_AR Aging Summary400 Chapter 10_Inventory Valuation Summary400 Chapter 10_AP Aging Summary401 Chapter 10_Profit and Loss402 Chapter 10_Balance Sheet404 4 of 11

6 Copyright ©2017 by McGraw-Hill Education. All rights reserved. Files Saved in Chapter 10 (concluded) PDF & ExcelPage Nos. Chapter 10_Statement of Cash Flows405 Exercise 10-1_Reconciliation Report.pdf408 Exercise 10-2_Journal409 Exercise 10-2_Transaction Detail by Account409 Exercise 10-2_General Ledger409 Exercise 10-2_Customer Balance Summary409 Exercise 10-2_Vendor Balance Summary409 Exercise 10-2_Trial Balance409 Exercise 10-2_Profit and Loss409 Exercise 10-2_Balance Sheet409 Exercise 10-2_Statement of Cash Flows409 5 of 11

7 Copyright ©2017 by McGraw-Hill Education. All rights reserved. Check Your Data To make sure you are starting Chapter 10 in the correct place, display the 1/1/20XY to 2/28/20XY trial balance. 6 of 11

8 Copyright ©2017 by McGraw-Hill Education. All rights reserved. Reports  In Chapter 10, before completing Exercises 10-1 and 10-2, these reports are shown. o Adjusted Trial Balance from 1/1/20XY to 3/31/XY o A/R Aging Summary as of 3/31/20XY. o Inventory Valuation Summary as of 3/31/20XY. o A/P Aging Summary as of 3/31/XY. o Profit and Loss from 1/1/20XY to 3/31/20XY. o Balance Sheet from 1/1/20XY to 3/31/20XY. o Statement of Cash Flows from 1/1/20XY to 3/31/20XY. 7 of 11

9 Online Learning Center  Go online to www.mhhe.com/QBO for additional resources. Link to Student Edition, then select Chapter 10. The Online Learning Center includes: www.mhhe.com/QBO o Narrated PowerPoints. o Going to the Net exercises. o Videos. o Multiple-Choice Questions. o True or False Questions. o Analysis Questions. o Glossary of Terms. Copyright ©2017 by McGraw-Hill Education. All rights reserved. 8 of 11

10 Copyright ©2017 by McGraw-Hill Education. All rights reserved. Videos 1. 1. Go to Prof. Susan Crosson’s YouTube videos.Prof. Susan Crosson’s YouTube videos 2. 2. To review financial accounting principles and procedures, link to a video. 9 of 11

11 Copyright ©2017 by McGraw-Hill Education. All rights reserved. Going to the Net Go to the QuickBooks Blog. In the search field, type The QB Show.QuickBooks BlogThe QB Show 1. 1. What is The QB Show? What is its website address. 2. 2. When can you watch The QB Show? 10 of 11

12 Copyright ©2017 by McGraw-Hill Education. All rights reserved. Analysis Questions 1. 1. Why does the March 31, 20XY Balance Sheet show both Retained Earnings and Net Income? 2. 2. What section of the Balance Sheet are the Retained Earnings and Net Income amounts shown? 11 of 11

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