Accounting Systems Applications
Unit 1
Review Problem
Unit 1 Review Problem Instructions
Task 1: Open Company File and Change the Company Name
Step 1: Open the Unit 1 Review file which was previously downloaded and restored
from the Unit 1 Review page.
Step 2: Change the company name to [your name] Unit 1 Review Larry’s
Landscaping by selecting Company menu > My Company. Click the Pencil
icon in the upper right corner to edit the company name.
Task 2: Update Preferences
Step 1: Using QuickBooks preferences, set the General preference to Use the last
entered date as default.
Step 2: Using QuickBooks preferences, set the Company preferences for Accounting
to Use account numbers so that account numbers display in the Chart of
Accounts.
Task 3: Customize and Print the Chart of Accounts
Step 1: Add the following accounts to the Chart of Accounts. HINT: All accounts are
expense accounts so you can use Save and New to continue adding
accounts until all accounts have been added.
Account
Number
7310
Supplies
Account
Type
Expense
N/A
7320
Computer Supplies
Expense
N/A
7430
Professional
Design Fees
Expense
6710
Section 179
Expense
7400
Professional
Fees
6700
Depreciation
7754
Internet Provider
Expense
Page 1 of 2
Account Title
Subaccount of
7750
Utilities
Tax Line
Schedule
C:Supplies (not
from COGS)
Schedule
C:Supplies (not
from COGS)
Schedule C:
Legal and
professional fees
Schedule C:
Other business
expenses
Schedule C:
Office expenses
QB 2015
Step 2: Prepare an Account Listing report. Make the following adjustments:
 Eliminate the Description column.
 Adjust the size of the Account column so that the entire account and
subaccount titles display for all accounts (scroll through all accounts to
check).
Step 3: Print the Chart of Accounts to a pdf file. Ensure Landscape orientation is
selected and choose the option to Fit report to 1 page(s) wide. Save the file
as COA R1.
Step 4: Close the account listing report without memorizing and return to the Home
Page.
Task 4: Record Deposits
Step 1: Record the deposits shown in the table under Item 3 on page 3.39 of your
QuickBooks text. Record all deposits occurring on the same day on the same
deposit form.
Step 2: Print the Deposit Detail report for December 16 through 18, 2019. HINT: You
can access this report from the Reports menu under Banking. Save the pdf
file as Dep Detail R1.
Task 5: Write Checks
Step 1: Write the checks listed in the table found under Item 5 on page 3.40 of your
QuickBooks text. Be sure to check the Print Later checkbox for each check.
You may select Save and New after each check including the final check.
Step 2: When you have recorded all checks print the checks by selecting the Print
Batch option from the Write Checks window. Set the first check number to
1464 and ensure that all 5 checks are selected to print, then click OK. Select
Standard checks and print the checks to PDF. Save the pdf file as Checks
R1.
Task 6: Reconcile the Bank Statement
Step 1: Use the bank statement found on page 3.41 of your QuickBooks text to
reconcile the bank account of Larry’s Landscaping.
Step 2: Print bank reconciliation summary report. Save the pdf file as Bank Rec R1.
Task 7: Print Financial Statements
Step 1: Prepare a Profit & Loss, Standard report for the last fiscal year, October 1,
2018 through September 30, 2019. Print the report and save the pdf file as
P&L R1.
Step 2: Prepare a Balance Sheet, Standard report for the last fiscal year ending
9/30/2019. Print the report and save the pdf file as Bal Sheet R1.
Step 3: Prepare a Statement of Cash Flows report for the last fiscal year, October 1,
2018 through September 30, 2019. Print the report and save the pdf file as
Cash Flow R1.
Step 4: Prepare a Journal report for December 16 through 18, 2019. Print the report
and save the pdf file as Journal R1.
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QB 2015