In this case-study, you, the student, will set up a new service company file using the Easy Step Interview found by clicking on Detailed Start after clicking to create a new company. As you navigate through the Easy Step Interview, you will decide the best answers to the interview based on the information presented here. You will also have the opportunity to practice setting up a Chart of Accounts, and completing Journal entries, sales, Bills, and Cheques. As an extended activity, you may be required to complete the Bank Reconciliation.
Problem Statement
Step 1: You have been hired to set up a Service Company File for Bob and set up the chart of Accounts as provided by the Consulting Accountant.
Step 2: You have been directed to complete the transactions for the first two weeks of January.
Step 3: You receive the bank statement and process the Reconciliation.
NOTE: Only complete the steps as assigned by your instructor.
Required Items for Each Step
Step 1
▪ Create the file “Bob’s Back Hoes –