REINFORCE YOUR SKILLS 11-1

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
Prepare Reports

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.

Verify that the Inventory Valuation Summary report total is the same as the Inventory Account on the Trial Balance report.

Save the form.
Make the entry recurring for fifty-nine months.

REINFORCE YOUR SKILLS 11-3
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.

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