Reinforce Your Skills
For these exercises, you will work with Puppy Luv Pampered Pooch, the company account created in your trial subscription to QuickBooks Online.
REINFORCE YOUR SKILLS 11-1
Sadie is really excited about the growth of her salon, but she knows she is a little behind in looking at her financial statements. She has asked you to prepare a report that displays all the accounts and their balances as of September 30, 2021, and then meet with her for a review. In this exercise, you will create two reports for Sadie.
Create a Trial Balance report for the period ending September 30, 2021.
Create an Inventory Valuation Summary report for September 30, 2021.
Make the entry recurring for fifty-nine months.
Adjust for Inventory
You have taken a physical inventory and have discovered that only eleven Uber-Jive Balls are in stock. In this exercise, you will create an inventory adjustment.
Make the inventory adjustment, dated September 30, 2021.
Hint: Be sure to use the Kennel class.
Create a Trial Balance report that reflects the changes made.