PEACHTREE/SAGE 50

PRACTICAL ASSIGNMENT

As an Account, do the following:

Instruction I: Create and setup the required company information and
master files as follows:

1. Create a new company file for your Name and complete the process.

2. Create the following chart of accounts and enter beginning balances as

of April 30, 2024.

Account Code Description Opening Balance

1001 Cash on hand $ 1,000

1010 Dahabshil bank $ 2,000

1100 Accounts receivable $ 1,500

1200 Inventory $ 1,975

1300 Prepaid rent $0

1400 Office equipment $ 300

1500 Office furniture $ 200

2000 Accounts payable $900

3000 Gudcur capital $ 6,075

3100 Retained earnings

4000 Sales revenue

5000 Cost of goods sold

5100 Salary expense

5200 Rent expense

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 3. Create vendor lists:

No Vendor Name Balance

1 Wadajir general trading co. $500

2 Kaamil computers $400

Total $900

4. Create list of customers:

No Customer Name Balance

1 Horyaal general trading Co. $750

2 Dayax trading company $750

Total $1,500

5. Create item lists:

No Name Qty on hand Unit cost Amount

1 Hp spectre 1 $1,000 $1,000

2 Hp desktop 1 $825 $825

3 Samsung A24 1 $150 $150

Total $1,975

Instruction I I : R ecord the following transactions in Peachtree/Sage 50 of

your company.

1. Create the following purchase order from wadajir general trading co.

No Name Qty on hand Unit cost Amount

1 Hp spectre 2 $1,000 $2,000

2 Hp desktop 2 $900 $1,800

Total $3,800

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2. Received a bill with the full order from wadajir, and made no payment.

3. Sold 1 Hp spectre @1,500 to horyal general trading on cash, and deposited to

Dahabshil bank.

4. Sold 2 Hp desktop @$1,000 to dayax trading on credit.

5. Purchased office equipment of $1,000 and paid from cash on hand.

6. Paid advance rent of 6 months, each month is for $100 from Dahabshil bank.

7. Received $500 from dayax trading company, and deposited to cash on hand.

8. Paid salary expense of $300 from cash on hand.

9. Paid $900 to wadajir for its outstanding balance from Dahabshil bank.

Requirements:

Write the fallowing balances:

Account Balance

Cash on hand

Dahabshil bank

Inventory

Prepaid rent

Account receivable

Account payable

Sales revenue

Net income/Net loss

Ending cash

Qty on hand of Hp spectre

Good Job!

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