Question Details

ASSIGNMENT 2: Competency in QuickBooks Online

Due Week 10 and worth 200 points

You have been hired by Rain Cross Auto Detail to manage their accounting operations. The first thing you will need to do is to create their accounting operations in QuickBooks Online. You will use the information from Chapter 13 to complete this project.

Part I:

• Create the new Rain Cross company in QuickBooks online using the information provided in Chapter 13 and submit the reports listed as Deliverable I for grading.

Part II:

• Record the transactions for Week 1, 2, 3, and 4 using the information provided in Chapter 13 and submit the reports listed as Deliverable II for grading.

Part III:

• Record the transactions for Week 5 using the information provided in Chapter 13 and submit the reports listed as Deliverable III for grading.

Part IV:

• Write a two to three (2-3) page memo in which you summarize the firm’s financial position, based on the information you provided in Part III. As part of your analysis, include information that discusses the firm’s liquidity and profitability by performing ratio analyses such as (a) current ratio; (b) quick ratio; and (c) profit margin.
• The memo will be submitted electronically as a Microsoft Word document with SWS formatting.

Your assignment must follow these formatting requirements:

• This course requires use of new Strayer Writing Standards (SWS). The format is different than other Strayer University courses. Please take a moment to review the SWS documentation for details
• Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides. Check with your professor for any additional instructions.
• Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:

• Generate accounting records and reports through the use of various functions and applications in QuickBooks.