Test One

Part One: Set up Company Information

Create Company (Final Exam Group B).
Fill the necessary fields.
Business form: Partnership.
Chart of accounting: Manufacturing Company.
Accounting Method: Accruals.
Posting Method: Real Time.
Accounting period: Three months from Oct 2008.
Part Two: Beg. Balance
Petty Cash 60.00
Cash on Hand 45,000.00
Furniture Original Value 13,000.00
Equipments 25,000.00
Maxed Capital Investment 42,060.00
Nahiil Capital Investment 41,000.00
Part Three: Create Customers With Terms
Sn Cu IDCustomer Name Terms
1 CC01 Rammad Group Company 3/40 net 90
2 CC02 Bilaal Company 2/10 net 30
3 CC03 Cash Customer No Terms
Part Four: Create Vendors with Terms
Sn Ve ID Vendor Name Terms
1 VC01 Hilaal Company 2/10 net 30
2 VC02 Luula Company 2/15 net 35
3 VC03 Cash Vendor No Terms
Part Five: Create Inventories
S Product ID Product Name
n
1 PRC01 Bur
2 PRC02 Bariis
3 PRC03 Baasto
Part Six: Set up the components of the Assembly and Assembly Item
Sn Pro ID Product Name Unit Cost
1 PRC04 Sonkor $ 1.00
2 PRC05 Biyo $ 0.6
3 PRC06 Babaay $ 0.3
4 PRC07 Zeytuun $ 0.2
5 PRC08 Cambe $ 0.2
6 PRC09 Qare $ 0.4
7 AssC01 Mushakal

One Liter mushakal contains the following

PRC04 Sonkor 0.5 Kg
PRC05 Biyo 1 Liter
PRC06 Babaay 3 Pc
PRC07 Zeytuun 12 Pc
PRC08 Cambe 4 Pc
PRC09 Qare 2 Pc
Part eight : Daily Activities (Transactions)
On Oct 01 received cash from fund donation amount $3600
On Oct 02 paid office equipment $500 for training phase.
On Oct 02 purchased Bur Quantity 350 sack Cost per sack $12.5 from Hilaal
Company on account.
On Oct 05 paid Employee advance. $100 for Nuur Ali and $50 Caasho Nuur.
On Oct 10 paid $250 cash for Maxed and $300 Nahiil for personal use
On Oct 12 paid car rent amount $50 for implementation phase.
On Oct 15 purchased equipment for cash amount $1050 for training.
On Oct 16 paid labor fees amount $500 for implementation phase
On Oct 16 paid $150 rent for three months
On Oct 17 sold Bur Quantity 250 sack price $18 for Bilaal Company
On Oct 20 paid car rent amount $100 for training phase
On Oct 25 paid labor fees amount $500 for training phase
On Oct 28 paid $800 cash material used for training phase
On Oct 30 paid $ 100 cash car rent for training phase
On Nov 05 Received $4500 cash from service performed
On Nov 09 purchased office supplies by cash amount $500.
On Nov 10 purchased Bariis Quantity 200 Sack cost per sack $15 from Luula
Company
On Nov 15 purchased Baasto Quantity 100 Carton cost per Carton $10 for Cash.
From Cash Vendor.
On Nov 20 sold Baasto Quantity 90 Carton price $15 for cash to cash customer.
On Nov 25 sold Bariis Quantity 150 sack price $20 on credit to Rammad Group
Company.
On Nov 26 Received all cash from Rammad Group Company.
On Nov 27 paid cash to luula Comapany amount $3000.
On Dec 05 received $10,000 cash from service performed
On Dec 10 paid all employee salaries (previous month)
On Dec 11 purchase all goods needed to prepare 70 liter Mushakal as assemble
from Luula Company on account.
On Dec 12 Production Department prepared 50 Liter of Mushakal as Assembly
On Dec 15 sold 40 liter Mushakal for cash customer on Cash (Sales price is Cost
of Row material Plus 70% mark up).
On Dec 20 Received $2500 cash from Nahiil Additional Investment
On Dec 22 paid Employee advance $50 for Xasan Samater and $150 for Nuur Ali.
On Dec 25 production Department Prepared 20 Liter of Mushakal as Assembly.
On Dec 29 Sold 25 Liter of Mushakal for Bilaal Company on account. (Sales
prices is Cost of Row materials Plus 70% mark up).

Instructions

Prepare all Adjusting Entries (Office Supplies $390 were used).

Prepare Physical Inventories (On hand Bur 98 Sack, On hand Bariis 50 Sack
and Baasto 12 Cartons).
Prepare Inventories on hand Reports
Prepare Customer balances.
Prepare Vendor Balances.
Prepare Adjusted Trial balance (General Ledger Trial Balance).
Prepare job Ledger.
Prepare Balance sheet.
Prepare Income Statement.
Close the fiscal year and modify the next fiscal year do not purge the
transactions.
Distribute the Net income/Net Loss to the Owners (Journalize and post).
Prepare Post Closing Trial balance (General Ledger Trial Balance).
Prepare The Last Balance sheet.
(Convert the reports to Excel and save the desktop for your folder).
 Test Two
Part One: Set up Company Information
Create Company (Final Exam Group B).
Fill the necessary fields.
Business form: Partnership.
Chart of accounting: Manufacturing Company.
Accounting Method: Accruals.
Posting Method: Real Time.
Accounting period: Three months from April 2007.
Part Two: Beg. Balance
Petty Cash 150.00
Cash on Hand 50,000.00
Computer Original Value 1,200.00
Equipments 15,200.00
Luula Capital Investment 30,000.00
Liiban Capital Investment 36,550.00
Part Three: Create Customers With Terms
Sn Cu ID Customer Name Terms
1 CC01 Bilaad Group Company 2/10 net 90
2 CC02 Al Nasri Company 2/10 net 30
3 CC03 Cash Customer No Terms
Part Four: Create Vendors with Terms
Sn Ve ID Vendor Name Terms
1 VC01 Al Hijra Company 2/10 net 30
2 VC02 Subeyr Company 2/15 net 35
3 VC03 Cash Vendor No Terms
Part Five: Create Inventories
S Product ID Product Name
n
1 PRC01 Saliid
2 PRC02 Bariis
3 PRC03 Sonkor
Part Six: Set up the components of the Assembly and Assembly Item
Sn Pro ID Product Name Unit Cost
1 PRC04 Alwaax $ 5.00
2 PRC05 Safiito $ 2.5
3 PRC06 Koolo $2
4 PRC07 Masaamiir $ 0.1
5 PRC08 Istuuko $1
6 PRC09 Rinji $4
7 AssC01 Armaajo

One Armaajo contains the following

PRC04 Alwaax 5
PRC05 safiito 8
PRC06 koolo 3
PRC07 Masaamiir 150
PRC08 Istuuko 2
PRC09 Rinji 1
Part Seven: Set up Payroll
S E ID Emp Pay Frequenc Gross Regula Over Special
n Name y r time
1 EmC0 Ali Nuur Salary Monthly
1
2 EmC0 Nimca Salary Monthly
2 Xasan
3 EmC0 Xasan Hourl Monthly $4 $5 $6
3 Aadan y
Part Eight: Set up Fixed Assets
Ass ID Description Cost Salvage Life Method
 Value
1 Computer $1,200. 100 10 SLFM
years
2 Equipment $15,200 200 9 year SLFM
Part Nine Job Costing
Prepare job (Seminar) using phases and Cost coding
Phases
Phase Code Phase type
PHC01 Training
PHC02 Implementation
Cost Codes
Cost Code Cost Code Account Cost Code Type
CC01 Labor Labor
CC02 Material Material
CC03 Equipment Equipment
CC04 Others Others
CC05 Subcontract Subcontract
Part Ten: Daily Activities (Transactions)
On April 01 received cash from fund donation amount $1,200
On April 02 paid office equipment $100 for training phase.
On April 02 purchased Sonkor Quantity 450 sack Cost per sack $12 from AL Hijra
Company on account.
On April 05 paid Employee advance. $50 for Ali Nuur and $50 Nimca Xasan.
On April 10 paid $500 cash for Luula and $400 Liiban for personal use
On April 12 paid car rent amount $90 for implementation phase.
On April 15 purchased equipment for cash amount $160 for training.
On April 16 paid labor fees amount $200 for implementation phase
On April 16 paid $300 rent for three months
On April 17 sold Sonkor Quantity 420 sack price $19 for Al Nasri Company
On April 20 paid car rent amount $100 for training phase
On April 25 paid labor fees amount $300 for training phase
On April 28 paid $200 cash material used for training phase
On April 29 paid $ 50 cash car rent for training phase
On April 30 received the following payroll sheet and paid for cash.
S E ID Emp Pay Frequenc Gross Regula Over Special
n Name y r time
1 EmC0 Ali Nuur Salary Monthly $300
1
2 EmC0 Nimca Salary Monthly $500
2 Xasan
3 EmC0 Xasan Hourl Monthly 60 15 6
3 Aadan y
On May 05 Received $5500 cash from service performed
On May 09 purchased office supplies by cash amount $600.
On May 10 purchased Bariis Quantity 100 Sack cost per sack $17 from Al Hijra
Company
On May 15 purchased Saliid Quantity 120 Carton cost per Carton $10 for Cash,
From Cash Vendor.
On May 20 sold Bariis Quantity 90 sack price $20 for cash to cash customer.
On May 25 sold Saliid Quantity 115 Carton price $15 on credit to Al Nasri
Company.
On May 26 received all cash from al Nasri Company.
On May 27 paid cash to Al Hijra Comapany amount.
On May 31 received payroll sheet as following but not paid
S E ID Emp Pay Frequenc Gross Regula Over Special
n Name y r time
1 EmC0 Ali Nuur Salary Monthly $300
1
2 EmC0 Nimca Salary Monthly $500
2 Xasan
3 EmC0 Xasan Hourl Monthly 65 20
3 Aadan y
On Jun 05 received $12,000 cash from service performed
On Jun 10 paid all employee salaries (previous month)
On Jun 11 purchase all goods needed to prepare 50 Armaajo as assemble from Al
Hijra Company on account.
On Jun 12 Production Department prepared 30 Armaajo as Assembly
On Jun 15 sold 20 liter Armaajo for cash customer on Cash (Sales price is Cost of
Row material Plus 80% mark up).
On Jun 20 Received $3500 cash from Liiban Addition Investment
On Jun 22 paid Employee advances $150 for Ali Nur and $250 for Nimca Xasan.
On Jun 25 production Department Prepared 20 Armaajo as Assembly.
On Jun 29 Sold 25 Armaajo for Bilaal Company on account. (Sales prices is Cost
of Row materials Plus 80% mark up).
On Jun 31 received the following payroll sheet and paid for cash
S E ID Emp Pay Frequenc Gross Regula Over Special
n Name y r time
1 EmC0 Ali Nuur Salary Monthly $300
1
2 EmC0 Nimca Salary Monthly $500
2 Xasan
3 EmC0 Xasan Hourl Monthly 70 30 5
3 Aadan y
Instructions

Prepare all Adjusting Entries (Office Supplies $410 were used).

Prepare Physical Inventories (On hand Sonkor 30 Sack, On hand Bariis 12
Sack and Saliid 2 Cartons).
Prepare Inventories on hand Reports
Prepare Customer balances.
Prepare Vendor Balances.
Prepare Adjusted Trial balance (General Ledger Trial Balance).
Prepare job Ledger
Prepare Unbilled Job Expense.
Prepare Balance sheet.
Prepare Income Statement.
Close the fiscal year and modify the next fiscal year do not purge the
transactions.
Distribute the Net income/Net Loss to the Owners (Journalize and post).
Prepare Post Closing Trial balance (General Ledger Trial Balance).
Prepare The Last Balance sheet.
(Convert the reports to Excel and save the desktop for your folder).