** All Chapters included
** Download files included
,Table of Contents are given below
Chapter 1: Getting Started
Chapter 2: GST, HST and PST
Chapter 3: Binh's Bins
Chapter 4: Love It Again
Chapter 5: Groen Fields
Chapter 6: Phoebe's Photo Studio
Chapter 7: Air Care Services
Chapter 8: Helena's Academy
Chapter 9: Northern Lights
Chapter 10: Kara's Kitchens
Chapter 11: Peace of Mind Property Management
Chapter 12: Maple Leaf Rags
Chapter 13: Shady Corners
Chapter 14: Sound Inc
Chapter 15: Tesses Tresses
Chapter 16: VeloCity
Chapter 17: Stratford Country Inn
Chapter 18: Ryder's Routes
Chapter 19: Able & Associates Inc.
,SAGE 50 ACCOUNTING TEST ONE VERSION A
Name: ______________________________ Class: ________________________
Date: _______________________________
The information provided in this test allows you to set up the General, Payables and Receivables ledgers for an
Ontario company named ANGIE METALS owned and run by Angie Black, a master machinist. She performs
all kinds of metal jobs for individuals as well as companies. Angie has contacted you to set up her company to
use Sage 50 Accounting for general ledger, accounts receivable and accounts payable.
(NOTE TO INSTRUCTOR: if you do not wish to have students tested on setting up an entire company from
scratch you may use the template files provided, and start with question 10)
DO EACH OF THE FOLLOWING TASK IN ORDER.
1. Using Sage 50 Accounting, create a new company file using the following information:
Company Name: ANGIE METALS
Address: 24 Fish Street
Ottawa, Ontario
N6R 4L5
Phone: (613) 684-8373 Fax: (519) 684-8283
Fiscal start: 07-01-2029
Earliest Transaction date: 07-01-2029
Fiscal end: 12-31-2029
Select: Let me build the list of accounts myself after the company is created
Industry: Service
Store company files in a new folder named ANGIE and use ANGIE for the file name.
Select: I will update my tax information myself
2. Working from the Company module window, change default settings if necessary to include the
following:
User Preferences Options Use Accounting Terms
Automatically save changes to Suppliers, Clients and Other Records
Show list buttons
User Preferences View Turn off Checklists and Daily Business Manager at startup and after
changing session date
Turn off Employee & Payroll, Inventory & Services, Project and
Time & Billing
Turn on Show Change Session Date at startup
User Preferences Transactions Turn on confirmation message Box
Company Information Settings Business No: 342 121 190
Company System Settings Do not allow Transactions dated before 07-01-2029
Do not allow Transactions in future
Company Backup Settings Backup frequency: Weekly; turn off automatic backups
Company Features Settings Company does not use quotes, orders, packing slips and project
Company does business in French and English
Company Forms Settings Next Client & Sales Invoice number: 121
Test 1A Page 1 of 8
, Next Receipts number: 297
Company Date Format Settings Month, day, year. Use long date format on the screen and in reports
3. Create accounts to match the following Chart of Accounts.
Edit the current earnings account.
Account types are shown in brackets beside the account.
(A) = Subgroup (S) = Subgroup total (H) = Heading (T) = Total (X) = Current Earnings
All other accounts (unmarked) are Group accounts.
ANGIE METALS
Chart of Accounts
1000 CURRENT ASSETS (H) 2800 LONG TERM LIABILITIES (H)
2850 Mortgage Payable
2890 TOTAL LONG TERM LIABILITIES (T)
1050 Test Balance
1080 Bank: Chequing Account 3000 EQUITY (H)
1100 Bank: Credit Card 3560 Angie Black, Capital
1200 Accounts Receivable 3600 Net Income (X)
1290 Metal Supplies 3690 TOTAL EQUITY (T)
1390 TOTAL CURRENT ASSETS (T)
4000 REVENUE (H)
1400 CAPITAL ASSETS (H) 4020 Revenue from Assembly and Services
1420 Metal Tools 4100 Sales Allowances
1450 Computers 4200 Sales Discounts
1480 Other Metal Equipment 4390 TOTAL REVENUE (T)
1500 Vehicle
1550 Shop 5000 EXPENSES (H)
1590 TOTAL CAPITAL ASSETS (T) 5020 Advertising
5030 Bank and Credit Card Fees
2000 CURRENT LIABILITIES (H) 5040 Cleaning and Maintenance
2100 Bank Loan 5060 Hydro Expense
2200 Accounts Payable 5220 Insurance Expense
2250 Credit Card Payable 5240 Interest Expense
2650 HST Charged on Services (A) 5260 Internet Expense
2670 HST Paid on Purchases (A) 5270 Payroll Service Fees
2750 HST Owing (Refund) (S) 5280 Metal Supplies Used
2790 TOTAL CURRENT LIABILITIES (T) 5590 TOTAL EXPENSES (T)
Print the Chart of Accounts.
Test 1A Page 2 of 8