quickBooks Accounting Assignment 1
IMPORTANT: Assume you are currently working in May 2022 as the basis for the dates in the assignment. If the
instructions are to record a transaction in the previous month, record that transaction in April 2022.
Use the HST Ontario rate of 13% for all transactions that require sales tax.
Setup and record the following:
1. Set up a chequing account, called TCU Chequing.
2. Make two deposits to the company:
a. Jon recorded a shareholder investment of $5000 to the company on the first day of last month.
b. Alice recorded a shareholder investment of $5000 to company on the first day of last month.
Create the following new customers:
• Contact:
Kevin Johnson
400 Willowview Lane
Toronto, ON M3H 4J1
Phone: 705-835-9701
Terms: Due on Receipt
• Contact:
Yang & Associates Law
3185 Acton Avenue
Toronto, ON M3H 4J1
Phone: 416-545-9810
Terms: Due on Receipt
• Contact:
Janis McBriderton
4710 Merton Street
Toronto, ON M1L 3K7
Phone: 416-545-9811
Terms: Due on Receipt
• Contact:
Bryce Trout
289 Speers Road
Oakville, ON L6J 3X4
Phone: 416-627-0116
Terms: Due on Receipt
• Contact:
Huron Park Community Association
1891 Eglinton Avenue
Toronto, ON M4P 1A6
Phone: 416-627-0119
Terms: Due on ReceiptGreen Tree Landscapes has chosen to start with several simple services. Create the following services:
• Weekly Lawn Maintenance. Jon wants the invoice to read Weekly Lawn Maintenance including
cut, trim, edge and debris removal. The price will be $35 per week. Jane the accountant wants to
track the sales of this service to the Sales account. The service is taxable.
• Spring Cleaning. Alice wants the sales form to read Spring Cleaning including power raking, cut,
trim, edge, hedge trimming, aeration, and fertilizer. The price is $295. Track the sales of this service
to the Sales account. The service is taxable.
• Fertilizer. Alice wants the sales form to read 1 Fertilizer Application. The price is
$74.95 Track. Track the sales of this service to the Sales account. The service is taxable.
• Hedge Trimming. The description of this service should read Hedge Trimming. The price is not a
fixed fee and will be determined by the size of job that needs to be done. Track the sales of this
service to the Sales account. The service is taxable.
• Core Aeration. The description of this service should read Core Aeration of front and backyard. The
price is a fixed fee of $150. Track the sales of this service to the Sales account. The service is taxable.
A customer has asked Green Tree Landscapes to do a small landscape renovation. A customer has asked
for bark chips to be added to some flower beds on their property. They’ve also asked for some concrete to
be replaced in the backyard. Create the following items to track these new items:
• Cedar Bark Chips. The description of this service should read Bark Chips. The price is not a
fixed fee and will be determined by the size of job that needs to be done. Track the sales of this
service to the Sales account. The service is taxable. NOTE: This item type will be different than
the previous items from this chapter.
• Concrete. The description of this service should read Concrete Installation. The price is not a
fixed fee and will be determined by the size of job that needs to be done. Track the sales of this
service to the Sales account. The service is taxable. NOTE: This item type will be different than
the previous items from this chapter.
Now that you have setup the basics for customers and your products and services list, you’re ready to
record the first few sales for Green Tree Landscapes.
You’ve started weekly lawn maintenance for three customers. They’ve paid you at the time of the service.
Record the sales for the following three customers:
Record the sales on the 10th of last month.
1. Bryce Trout—Green Tree performed maintenance at the Trout property 4 times last month.
2. Yang & Associates Law—performed services at this customer’s location 3 times last month.
3. Kevin Johnson—performed maintenance at the Johnson property 4 times last month.You need to make your first bank deposit. Make a bank deposit for all the received payments. Make the
deposit on the 15th of last month.
Several customers have asked you to invoice them for the work that you’ve completed at their homes.
soCreate invoices for the following customers:
1. Huron Park Community Association—Green Tree Landscapes provided a landscape renovation for this
customer. The price of their landscape renovation was $10,000 + tax. They purchased Bark Chips.
Edit the description to read, Landscape renovation including removal of old flower beds and
installation of bark chips. Record the sale on the 5th of last month.
2. Janis McBriderton—Weekly Lawn Maintenance. Janis was a difficult customer, so you charge her
twice the regular price for weekly maintenance. The services are taxable.
Janis wants you to email her invoice to her.
NOTE: Email the invoice to your instructor. Record the sale on the 9th of last month.
3. New Customer—Janis’ neighbor loves the work that Green Tree Landscapes is doing. Setup the
customer on the invoice as you go.
Contact:
Robert Hitchcock
4714 Merton Street
Toronto, ON M1L 3K7
Phone: 267-555-9811
Terms: Due on Receipt
Green Tree performed a Spring Cleaning at their location. Record the sales on the 11th of last month. The
cost is $985 + sales tax.
4. Elizabeth Barker—Hedge Trimming. Price: $175 + sales tax. Date: 8th of last month.
5. Parsons Community Centre—Core Aeration. Price $300. Date: 7th of last month.
6. Main Street Shopping Centre—Weekly Lawn Maintenance. Green Tree Landscapes provided weekly
lawn maintenance 4 times last month. You charged the regular price for each weekly visit. Date: 12th of
last month.
You’ve received several cheques from customers for payment against their invoices. Receive the
following cheques from customers and hold them in the undeposited funds account. Enter the date as
20th of last month.
1. Customer payment from Huron Park Community Association. Paid in full.
2. Customer payment from Janis McBriderton. Paid in full.
3. Customer payment from Parsons Community Centre. Paid in full.
NOTE You haven’t been to the bank to deposit these payments yet. Consider this when
recording the transactions.Deposit these three payments on the 21st of last month.
You received 2 additional cheques on the 25th of last month. Receive the following payments:
1. Main Street Shopping Centre – paid in full
2. Elizabeth Barker – paid in full
3. Robert Hitchcock – this customer paid half of the outstanding invoice Deposit
these three payments on the 26th of last month.
Jon and Alice have asked for a sales report for last month. Create a Sales by Customer Detail report. They
also want to know how much money is still outstanding from customers. Create the Open Invoices
report for Jon and Alice
It’s that simple.Pay only when you are satisfied.
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