Name_________________________
BUSA 31 - FINAL EXAM
Fall 2002
The transactions listed below occurred during the month of June 2000. Using the MAS 90
software, record these transactions and prepare the reports specified. Transactions which
show specific inventory items should be processed through the SO and PO systems in order
to update inventory except for the two transactions on June 28. The June 28 transactions
should be recorded as adjustments in the Inventory Management module. Otherwise, you
can process the transactions in whichever module you deem appropriate.
Your final score will be based on the accuracy of your final reports. IF YOU WANT THE
MAXIMUM NUMBER OF POINTS, YOU MUST PRINT ALL REPORTS
SPECIFIED ON THE LAST PAGE - Do not let the time expire before printing these
reports even if you are not finished processing all transactions.
The company code that you will be using for the exam is "FE1". Restore the files from the
disk provided with this exam, enter the MAS 90 system, and make this company "active".
Change the Company name to include your name. Change the system date in all modules
to June 30, 2000.
Day
Transaction Description
1
Paid payroll taxes to IRS for Social Security Tax ($805.16), Medicare
($188.30) and Federal withholding tax ($561.49). Payment was made
from the Main Checking Account (1001)
1
Paid payroll taxes to the State of California for State witholding tax
($100.43) and SDI ($64.93). Main Account (1001)
1
You discover that the commissions for the month of April were not
paid in May as usual. Run the Sales Commission report from the AR
system for the month of April. Process commission checks for any
commissions due.
Page 1
2
Ordered the following from Yamaha, terms 2/10 net 30, FOB Long
Beach, UPS Brown. Freight of $85 is added to the invoice.
Qty
Item
Price (each)
2
SAX-B-M-YAM
1525.00
2
SAX-B-P-YAM
1900.00
2
SAX-B-S-YAM
950.00
3
Paid the State Board of Equalization for all Sales tax due in the amount
of $ 2420.98
4
Ordered the following from King, terms 2/10 net 30, FOB Shipping
Point, UPS Brown, at the prices shown, freight added in the amount of
$85.
Qty
Item
Price(each)
4
TRO-M-KING
500.00
3
TRO-P-KING
900.00
7
Received goods ordered from Yamaha on June 2. All items were
received in good condition and the invoice (#4555332) was received in
the amount of $ 8,835.
8
Received a check (#22656) from University of Southern Cal Band in
the amount of $5,689.10 in payment of their outstanding invoice.
10
Received the utility bill for the month of June from SCE in the amount
of $85. Due date is June 30.
10
Received a sales order from the Jazz Hounds for the items listed.
Terms are 2/10 net 30, FOB Shipping point, UPS Brown, freight of
$212 on customer P.O. number 42855. This is a taxable transaction.
Qty
3
2
2
12
Item
Price (each)
SAX-B-S-YAM
1900.00
SAX-B-P-YAM
3980.00
SAX-B-M-YAM
3200.00
Bought supplies on account (Invoice #3422) from The Music Stand
$400 due June 17.
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13
Shipped all goods to Jazz Hounds for the sales order received June 10.
15
Processed payroll for the first half of June for all employees. Hours for
Louis = 72.25, hours for Ella = 68.5. Prepare checks from payroll
Account and distribute.
16
Received all goods from King for order placed on June 4. Invoice
number 78615 was also received for $ 4,785.00
17
Prepared a computer check run to pay all invoices due. Take all
discounts available as of this date.
18
Cash sales to various student customers of $10,480.17 including sales
tax of 776.31. Included in the sales were instruments ($ 8,240.60),
accessories ( 845.12), and music (618.14).
19
Issued a Credit memo (#614) to Jazz Hounds for $500 plus sales tax of
$40 for an allowance for one of the saxes shipped June 13 that was
damaged upon receipt.
20
Received a check (#44644) from the Jazz Hounds in complete
settlement of their account in the amount of $ 21,336.80
21
Received a bill for GTE for telephone for the month of June $112.
Due June 30.
26
Paid Notes Payable of $15,000 plus accrued interest of $750.
28
A local saxophone teacher donated two brand new Student Model
Yamaha Alto Saxes (SAX-A-S-YAM) to the store. The inventory
system must be updated to add these horns which are deemed to have a
value of $500 each.
28
A theft occured in the warehouse and two (2) Pro Model Yamaha Alto
Saxes (SAX-A-P-YAM) were stolen. Process the inventory
adjustments to write off these saxophones.
30
Process payroll for the second half of June for all employees. Hours
for Louis = 68.5, hours for Ella = 77.75
Page 3
30
Select, print and update repetitive and recurring entries in AR, AP and
GL as necessary.
30
Transfer $3,000 from the general checking account to the payroll
account.
30
Office supplies inventory at June 30 = $180. Supplies are used 80%
by the store and 20% by the office.
When you have completed all of the transactions, print the following reports dated as of and
for the six months ended June 30, 2000 and compile them in the order shown.
a.
b.
c.
d.
e.
g.
Income Statement
Balance Sheet
Accounts Receivable Aged Invoice Report
Accounts Payable Aged Invoice Report
Inventory Valuation Report
All other journals and registers in chronological sequence.
BACKUP the files to the CD.
.
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