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Glencoe Accounting c2007 / e7f6bf0b-231e-4929-b9b8-6465d85e3baf.doc Page 1 of 10
Glencoe Accounting 2007 1st Year Conversion Guide
Note: When the problem says “2009,” use “2011” instead.
END-OF-CHAPTER PROBLEMS BEGINNING A SESSION
Last Step: Replace with “Set the system date to [month/day],
2010.”
5-3 63 STEP 7:
In second paragraph, replace “Active column” with “Active?
column.”
5-5 67 MASTERING PEACHTREE:
Identify at least one income, one expense, and one equity
account.
rd
6-4 84 STEP 7, 3 BULLET:
Replace “press TAB” with “press TAB twice.”
th
STEP 7, 5 BULLET ON PAGE 85:
85 Replace with “The Part-time secretary’s salary description is
filled in by Peachtree’s Automatic field completion feature.
FIRST TIP
Replace “help information” with “Peachtree help information.”
89
6-5 89 STEP 10:
Replace “print a revised report” with “print a revised General
Journal report.”
STEP 12:
90 Replace with “Locate the General Ledger revenue account that
has no entries listed.”
6-6 90 STEP 5:
Replace “print a revised report” with “print a revised General
Journal report.”
STEP 6:
90 Replace with “Print a General Ledger report and complete the
Analyze activity.”
6-7 91 TIP:
Delete
91 STEP 5:
Replace “print a revised report” with “print a revised General
Journal report.”
6-8 92 STEP 5:
Replace “print a revised report” with “print a revised General
Journal report.”
7-6 112 MASTERING PEACHTREE:
Using Peachtree Help, learn about filtering accounts on a report.
Display and print a General Ledger Trial Balance report showing
only the asset accounts.
Glencoe Accounting c2007 / e7f6bf0b-231e-4929-b9b8-6465d85e3baf.doc Page 2 of 10
rd
7-7 113 STEP 5, 3 BULLET:
Replace with “Click Preview.”
th
113 STEP 5, 5 BULLET:
Replace “OK” with “Print.”
Mini 142 MASTERING PEACHTREE:
Practice Print a Summary General Journal Report.
Set 1
9-4, 9-5 176 STEP 5, INSERT NEW STEP 5:
Print a Statement of Changes in Owner’s Equity. Select the
custom report from the Financial Statements option of the
Reports menu.
Following step 5, move the text from Problem 9-7 Step 6,
beginning with “You can use the <Standard>…” through the end of
Step 6 at the bottom of page 177.
REORDER STEPS 5-7 AS STEPS 6-8.
176 MASTERING PEACHTREE:
Customize the <standard> balance sheet to summarize the
176 financial information. Change the layout of the report to combine
all assets into one section. Also, combine the liabilities into one
section. Print your results.
9-6 176 STEP 5, INSERT NEW STEP 5:
Print a Statement of Changes in Owner’s Equity.
REORDER STEPS 5-7 AS STEPS 6-8.
176
MASTERING PEACHTREE:
176 Replace with “Prepare a balance sheet report and use it to
calculate the current ratio.”
9-7 176 STEPS 5 AND 6:
Switch the order of steps 5 and 6.
177 MASTERING PEACHTREE:
Display the Income Statement. Click the Excel button at the top of
the report. Accept the default option to create a new Microsoft
Excel workbook and click OK. In a blank cell of the Excel
worksheet, enter the formula to calculate the return on sales. Print
the worksheet.
10-4 197 STEP 3:
No. 7: Replace “Back Up Now” with “Back Up.”
No. 8: Replace “Prob. 10-4” with “Prob. 10-4:XXX”
STEP 5:
Replace with “Complete the Analyze activity. Print a General
198 Ledger Trial Balance to help you with your work.”
MASTERING PEACHTREE:
Replace with “Review the online help information to learn how to
restore backup files for the company.”
198
10-5 198 MASTERING PEACHTREE:
Replace with “Display a General Ledger Trial Balance. Change the
Glencoe Accounting c2007 / e7f6bf0b-231e-4929-b9b8-6465d85e3baf.doc Page 3 of 10
report title to Post-Closing Trial Balance and print the report.”
10-8 200 MASTERING PEACHTREE:
How do you export a Post-Closing Trial Balance report from
Peachtree to a Microsoft Excel worksheet? On a separate sheet of
paper, explain your answer.
st
11-5 231 TIP AFTER 1 BULLET:
You can also use the Service Charges field, below the Checks and
Bank Debits section, to enter the bank service charge. You must
also complete the Date and Account fields when you use the
Service Charges field.
nd
STEP 3, 2 BULLET ON PAGE 231:
Replace with “Record the bank service charge in the General
231 Journal Entry window. Record the date, enter 512 (Miscellaneous
Expense) for the account, type Service charge for the description,
and enter 10 for the debit amount. Complete the entry with a credit
to account 101. Click Save then Close to return to Account
Reconciliation.
rd
STEP 3, 3 BULLET ON PAGE 231:
Replace “Checks and Credits” with “Checks and Bank Debits.”
NOTES
Delete
231
NOTES
Delete the first Notes.
231
232
11-8 233 MASTERING PEACHTREE:
How do you save your work if you are interrupted while reconciling
the bank account and you need to exit the window? On a separate
sheet of paper, explain your answer.
Mini 254 MASTERING PEACHTREE:
Practice How do you search for a specific transaction in an Account
Set 2 Reconciliation? On a separate sheet of paper, explain how to do
this.
th
12-7 277 STEP 4, 6 BULLET:
Replace with “Enter 92 for the first check number and click Print.”
th
STEP 6, 4 BULLET:
277 Replace with “Choose Range in the Date field on the Filter options
tab and then press OK.”
th
12-8 278 STEP 4, 6 BULLET:
Replace with “Type 82 for the first check number.”
th
STEP 5, 4 BULLET:
278 Replace “This week to Date” with “Range.”
13-7 311 STEP 5:
Replace with “Print a General Journal report filtered by
Transaction Reference and Check 1400 and a General Ledger
Glencoe Accounting c2007 / e7f6bf0b-231e-4929-b9b8-6465d85e3baf.doc Page 4 of 10
report.”
13-8 312 STEP 7:
Replace with “Print a General Journal report.”
MASTERING PEACHTREE:
312 Does Peachtree have the ability to print a Form 941 Employer’s
Quarterly Federal Tax Return? Record your answer on a separate
sheet of paper.
13-9 312 MASTERING PEACHTREE:
How do you print W-2s on preprinted forms in Peachtree? Record
your answer on a separate sheet of paper.
Mini 347 STEP 8:
Practice Replace with “Using the Employees/Sales Reps option, set up
Set 3 employee record 022. Type your name in the Name field and add
the employee information as shown in your textbook.”
STEP 10:
Replace “current week” with “week of July 21-25, 2010.”
347
STEP 17:
Delete “for July 25, 2008.”
348 MASTERING PEACHTREE:
You can prepare state payroll tax forms using Peachtree. List the
basic steps to prepare the state payroll tax forms on a separate
348 sheet of paper.
14-5 358 FIRST TWO BULLETS AFTER TIP:
Switch the order of these two bullets.
th
358 STEP 5, PARAGRAPH AFTER 4 BULLET ON PAGE 358:
Replace “and Sales Rep ID fields” with “Sales Rep and A/R
Account fields.”
th
TIP AFTER 6 BULLET:
358 If the GL Account field does not appear, choose Global from the
Options menu. Change the setting to show the general ledger
accounts for Accounts Receivable. You will have to close the
Sales/Invoicing window and then choose this option again for the
new setting to take effect.
SECOND TIP:
Delete
LAST PARAGRAPH ON PAGE, BEFORE TIP:
358 Delete “then click OK. Click the Real button.”
Replace “then click OK to print the invoice” with “then click Print to
print the invoice.”
359
STEP 8:
Replace “To enter the credit memorandum:” with “To enter and
apply the credit memorandum to an invoice (sales slip):”
Replace the seven bullets with the following:
[lb] Select Credit Memos from the Tasks menu.
[lb] Type ADA (the account code for Martha Adams) in the
360 Customer ID field.
[lb] Type 1/10/10 to record the transaction date in the Date field.
Glencoe Accounting c2007 / e7f6bf0b-231e-4929-b9b8-6465d85e3baf.doc Page 5 of 10
[lb] Type CM102 for the credit memo number in the Credit No.
field.
[lb] In the Apply to Invoice No. tab, select the invoice to which you
want to apply the credit memo from the <No Invoice Selected>
drop-down list – Invoice 777.
[lb] Click the Description field of the Apply to Invoice No. tab and
enter Sales return as the description.
[lb] Type 410 (the Sales Returns and Allowances account
number) in the GL Account field.
NOTES:
Delete
STEP 8, 1st BULLET ON PAGE 361:
Replace “-300.00” with “300.”
rd
STEP 8, 3 BULLET ON PAGE 361:
Replace with “Proof the transaction.”
th
STEP 8, 6 BULLET ON PAGE 361:
Replace “Sales/Invoicing” with “Credit Memos.”
STEP 8:
Delete the rest of Step 8 from the bottom of page 361 beginning
with “To apply a credit memo to an invoice (sales slip):” to the top
361 of page 363.
st
STEP 11, INSERT BULLET UNDER 1 BULLET:
361 Click OK in the Select a Cash Account window to select the Cash
in Bank account.
361 STEP 19:
Replace the second sentence with “Complete the Analyze
activity.”
361
361-363
363
366
14-7 368 STEP 5:
Replace the paragraph after Step 5 with “Use the Credit Memos
option to enter the credit memo. Be sure to change the general
ledger account number to 410 Sales Returns and Allowances.”
14-8 371 STEP 5:
Glencoe Accounting c2007 / e7f6bf0b-231e-4929-b9b8-6465d85e3baf.doc Page 6 of 10
Delete the paragraph after Step 5.
371 TIP AFTER STEP 5:
Delete
371 DO YOU HAVE A QUESTION?
Replace answer beginning with the second sentence with “When
you enter a credit memo for the $25 credit, the customer’s account
correctly shows a balance of $75. There is only one outstanding
invoice for $75 and the customer’s account balance remains at
$75 because the net cash received for this part of the transaction
was $0.”
st
15-6 396 STEP 5, 1 TWO BULLETS ON PAGE 396:
Switch order of bullets.
rd
396 STEP 5, 3 BULLET ON PAGE 396:
Replace the first sentence in the paragraph with “You can skip
over the Ship To, Customer SO No., Customer Invoice No.,
Terms, Ship Via, and A/P Account fields.”
nd
STEP 5, 2 BULLET ON PAGE 397:
Replace the “Close” button with the “Cancel” button.
397
STEP 8:
Replace “To enter the debit memorandum:” with “To enter and
apply the debit memorandum to an invoice:”
398 Replace the first six bullets with the following:
[lb] Choose Vendor Credit Memos from the Tasks menu.
[lb] Type NIG (the account code for NightVision and Company) in
the Vendor ID field.
[lb] Type 3/18/10 to record the transaction date in the Date field.
[lb] Type DM25 for the debit memo number in the Credit No. field.
[lb] In the Apply to Invoice No. tab, select the invoice to which you
want to apply the debit memo from the <No Invoice Selected>
drop-down list – Invoice NV-45.
[lb] Click the Description field and type Merchandise return as the
description.
[lb] Type 515 (the Purchases Returns and Allowances account
number) in the GL Account field.
STEP 8, BULLET AFTER TIP:
Replace “-100.00” with “100.”
NOTES:
Delete the second Notes.
STEP 8, LAST BULLET ON PAGE 398:
Replace “Purchases/Receive Inventory” with “Vendor Credit
Memos.”
STEP 8:
Delete this entire page, including the Tip and Notes.
st
398 STEP 10, INSERT BULLET AFTER 1 BULLET:
Click OK in the Select a Cash Account window to select the Cash
in Bank account.
Glencoe Accounting c2007 / e7f6bf0b-231e-4929-b9b8-6465d85e3baf.doc Page 7 of 10
398
th
STEP 11, 5 BULLET:
th
Replace “Memo” with “Description” and switch order with 6 bullet.
398
STEP 17:
Replace with “Complete the Analyze activity.”
399 STEPS 18 AND 19:
Delete
400
401
403
403
15-7 403 DO YOU HAVE A QUESTION?
Replace answer beginning with the second sentence with “There
should be only one outstanding invoice for $150 and the vendor’s
account balance should remain at $150 because the net cash
payment for this part of the transaction was $0.”
STEP 6:
Replace “Cash Disbursements Journal” with “Vendor Ledgers.”
404
16-5 430 MASTERING PEACHTREE:
Explore the Peachtree sales tax options. On a separate sheet of
paper, explain when you would use each option.
16-6 430 MASTERING PEACHTREE:
Peachtree has the Fast Add feature for adding a customer quickly
from a transaction window. On a separate sheet of paper, explain
how this feature works when creating a new customer.
17-5 458 MASTERING PEACHTREE:
Review the various Accounts Payable reports. On a separate
sheet of paper, explain the purpose of the purchase journal.
17-8 459 MASTERING PEACHTREE:
Review the filter options available for a cash disbursements
journal. Print a cash disbursements journal sorted by check
number.
18-6 491 STEP 6:
Replace “on the report” with “on the General Journal report.”
18-7 492 STEP 6:
Add at the end of the sentence “and a General Ledger Trial
Balance report.”
Glencoe Accounting c2007 / e7f6bf0b-231e-4929-b9b8-6465d85e3baf.doc Page 8 of 10
492 MASTERING PEACHTREE:
On a separate sheet of paper, explain how a computerized Trial
Balance can replace a manual ten-column work sheet.
18-8 492 STEP 6:
Add at the end of the sentence “and a General Ledger Trial
Balance report.”
492 MASTERING PEACHTREE:
Using Peachtree Help, explore how you can memorize a
transaction, like an adjusting entry, for future use.
19-6 525 MASTERING PEACHTREE:
Identify the segments that a Peachtree Balance Sheet report is
divided into.
19-7 525 FIRST PARAGRAPH AFTER STEP 4:
Delete the last sentence beginning with “For the problems...”
19-8 526 STEP 6:
Replace with “Print a General Journal report filtered by adjusting
entries, and proof your work.”
MASTERING PEACHTREE:
526 Using Peachtree Help, explore how to design an Income
Statement using the Financial Statement Wizard.
Mini 555 STEP 5:
Practice Replace with “Record any sales returns.”
Set 4
555 STEP 8:
Replace with “Record any purchases returns.”
STEP 10:
556 Replace “record the error” with “record the correcting entry for the
error.”
MASTERING PEACHTREE:
556 Modify the design of the General Ledger Trial Balance to show the
current date. Print the report.
20-5 584 MASTERING PEACHTREE:
Once you have closed your books, can you reopen them to
change any of the data you have entered? Explain your answer on
a separate sheet of paper.
20-8 584 MASTERING PEACHTREE:
Can you manually close the temporary accounts for the fiscal
year? Explain your answer on a separate sheet of paper.
21-7 614 STEP 8:
Replace “in the lower right hand corner” with “on the application
toolbar.”
21-9 615 STEP 5:
After “General Journal report” add “for the period of March 1, 2010
to December 31, 2010.”
FIRST TIP:
615 Delete
STEP 8:
615 Replace “in the lower right hand corner” with “on the application
Glencoe Accounting c2007 / e7f6bf0b-231e-4929-b9b8-6465d85e3baf.doc Page 9 of 10
toolbar.”
22-4 635 STEP 3:
Replace “February 29, 2008” with “February 28, 2010.”
FIRST TIP:
635 Delete
22-5 636 STEP 2:
Replace “February 29, 2008” with “February 28, 2010.”
22-6 636 STEP 2:
Replace “February 29, 2008” with “February 28, 2010.”
MASTERING PEACHTREE:
637 On a separate sheet of paper, list the basic steps to record a Petty
Cash expense according to Peachtree.
22-7 637 STEP 2:
Replace “February 29, 2008” with “February 28, 2010.”
STEP 6:
637 Replace with “Manually prepare a petty cash requisition.”
MASTERING PEACHTREE:
Does Peachtree support ways to prepare a petty cash register?
637 On a separate sheet of paper, explain your answer.
22-8 638 STEP 2:
Replace “February 29, 2008” with “February 28, 2010.”
STEP 6:
638 Replace “Reconcile” with “Manually reconcile.”
23-9 663 MASTERING PEACHTREE:
Peachtree refers to the Property and Equipment account used in
your textbook as Fixed Assets. On a separate sheet of paper,
record the Peachtree definition of Fixed Assets.
23-10 664 STEP 5:
Replace with “Calculate and record all of the end-of-period
adjustments.”
664 MASTERING PEACHTREE:
On a separate sheet of paper, list the steps for memorizing the
depreciation adjusting entry.
24-5 700 MASTERING PEACHTREE:
Preview the Customer Statements in the Accounts Receivable
Report list. Print a Customer Statement (plain) by statement type,
and show details.
24-6 701 MASTERING PEACHTREE:
Prepare a custom Aged Receivables report showing Customer
Name, Amount Due, P.O. Number, Invoice Amount, Date Due,
Invoice Date, and Age. Print your report, and save it as Custom
Aged Receivables.
24-7 702 MASTERING PEACHTREE:
Using Peachtree Help, review the various formats for collection
letters. On a separate sheet of paper, describe the main way in
which the various formats differ.
24-8 703 MASTERING PEACHTREE:
Using Peachtree Help, locate the Collection Manager. Then
Glencoe Accounting c2007 / e7f6bf0b-231e-4929-b9b8-6465d85e3baf.doc Page 10 of 10
explore the various options that this tool provides.
rd
25-8 736 STEP 6, 3 BULLET:
Replace “for the date” with “for the date in the Deposit ID field.”
MASTERING PEACHTREE:
736 How do you adjust your inventory value for damaged inventory?
Explain your answer on a separate sheet of paper.
26-6 754 STEP 6:
Replace with “Print a General Ledger report to complete the
analyze activity.”
STEP 7:
754 Replace “in the lower right hand corner” with “on the application
toolbar.”
26-8 755 STEP 7:
Replace “in the lower right hand corner of your screen” with “on
the application toolbar.”
26-9 756 STEP 7:
Replace “in the lower right hand corner of your screen” with “on
the application toolbar.”
Mini 773 STEP 5:
Practice Add at the end of the sentence “using the Credit Memos option.”
Set 5
STEP 8:
773 Add at the end of the sentence “using the Vendor Credit Memos
option.”
MASTERING PEACHTREE:
774 On a separate sheet of paper, explain how to change the font size
of the data in a Balance Sheet to 12-point. Print a Balance Sheet
to see the difference.
27-7 803 MASTERING PEACHTREE:
How does Peachtree define a partnership? Explain your answer
on a separate piece of paper.
27-9 804 STEP 4:
Replace “manually record” with “record.”
804 MASTERING PEACHTREE:
Using Peachtree Help, review how Peachtree tracks equity among
partners.
Mini 845 STEP 2:
Practice Replace “February 29, 2008” with “February 28, 2010.”
Set 6
MASTERING PEACHTREE:
846 On a separate sheet of paper, explain how to change the fiscal
year in Peachtree.
