CHAPTER 2 QUESTIONS - Chapters 1-5 are designed to help students get ...

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2 Preparing a Balance Sheet Using Peachtree Chapters 1-5 are designed to help students get a top-down view of Peachtree as a user-oriented accounting program. Students can be expected to work through these on their own. In Chapter 2, students learn, in an interactive way, how to create different balance sheets, investigate detail supporting balance sheet items, and print balance sheets for distribution.

CHAPTER 2 QUESTIONS

• Peachtree has one preset Balance Sheet called the Standard Balance Sheet.
• Peachtree has two methods for customizing a financial statement. A user can use the Financial

Statement Wizard or modify an existing statement with the Design feature.

• Click the Accounting Period button on the button control bar, and then select the accounting

period you want to report.

• This type of column displays the balance amount—net, budget, credit, or debit—of the accounts

appearing on the statement.

• Click Design from the button bar.
• Double-click the Column Desc. Button to edit what appears in the columns for any financial

statement.

• Select Whole Dollars from the Round drop-down list in the column properties for each column.
• Column – 2 means two periods before the current period. The Time Frame section specifies what

accounting period data you want in this column relative to the current period. For example, since we specified Period 3 before we started this exercise, Peachtree knows that is our current period, in this case March 11. Thus in a separate column we told Peachtree to place balances in one column 2 periods before Period 3, which is Period 1 (January 11).

• To drill down means to view the underlying general ledger report or source document which

supports an amount or individual transaction.

• Accounts receivable are affected by the sales journal (SJ) and related sales invoice source

documents and by the cash receipts journal (CRJ) and related cash receipts source documents.Using Peachtree Complete 2012 for Accounting 6th Edition Glenn Owen Solutions Manual Visit TestBankDeal.com to get complete for all chapters

• Chapter 2

CHAPTER 2 CENTURY KITCHENS ASSIGNMENTS

1. Printed reports:

a.

Chapter 2 9

b.

10 Chapter 2

c.