Answer Key

Bookkeeping Assignment #1

(The sample transactions are in September, but please use the previous month of the current date.

Example: If you're doing this assignment on February 2018, please use January instead of  September for your month.)

Common Mistake:

• Craig hasn't gone to the bank yet, so all payments received are still in Undeposited Funds.
• For #5 and #6, you can find the amounts already entered in Craig’s Banking transactions.
  All you have to do is “Add” the Lara’s Lamination payment as an “Advertising Expense” by clicking on the action to the right (as underlined).
  For Norton Lumber and Building Materials, simply click “Match” (as underlined) to record it as a bill payment.

After completing the assignment, you must have the following screenshots for your portfolio:

Bookkeeping Assignment #2

(The sample transactions are in June, but please use the previous month of the current date.

Example: If you're doing this assignment on February 2018, please use January 1 instead of  June 1 for your dates.)

Common Mistake:

For bank reconciliation, make sure that you only check the cleared transactions to get the correct balance (difference must be zero.)

After completing the assignment, you must have the following screenshots for your portfolio:
Let me know if you have any questions. ?

~Jason