Case 2-1 Bar Harbor Blueberry Farm
Question # 00025347
Posted By:
Updated on: 09/07/2014 01:41 AM Due on: 09/21/2014
The Bar Harbor Blueberry Farm is a family-owned, 200-acre farm that grows and sells blueberries to grocery stores, blueberry wholesalers, and small roadside stands. Bar Harbor has 25 full-time employees and hires 150 to 200 seasonal workers for the harvest.
For the past six summers, you have picked berries for Bar Harbor. When you graduated, you were hired full-time as the accountant/office manager. Until now, Bar Harbor kept most of its accounting records in a big file box. Jack Phillips, the owner, would like a more organized approach to the farm’s accounting records. He asked you to establish a proper set of books. You decide to start by establishing appropriate journals and ledgers for these transactions.
Presented below are a set of vendor invoices and a few partially completed journals and ledgers. Your job is to record these transactions and update the appropriate ledgers. Be sure to leave a proper audit trail. You may also use Excel, Great Plains, Peachtree, QuickBooks, or another accounting software package of your choosing to complete this problem.
Vendor Invoices
Date
Supplier Invoice
Supplier Name
Supplier Address
Amount
March 7
AJ34
Bud’s Soil Prep
PO Box 34
$2,067.85
March 11
14568
Osto Farmers Supply
45 Main
$ 67.50
March 14
893V
Whalers Fertilizer
Route 34
$5,000.00
March 21
14699
Osto Farmers Supply
45 Main
$3,450.37
March 21
10102
IFM Wholesale
587 Longview
$4,005.00
March 24
10145
IFM Wholesale
587 Longview
$ 267.88
For the past six summers, you have picked berries for Bar Harbor. When you graduated, you were hired full-time as the accountant/office manager. Until now, Bar Harbor kept most of its accounting records in a big file box. Jack Phillips, the owner, would like a more organized approach to the farm’s accounting records. He asked you to establish a proper set of books. You decide to start by establishing appropriate journals and ledgers for these transactions.
Presented below are a set of vendor invoices and a few partially completed journals and ledgers. Your job is to record these transactions and update the appropriate ledgers. Be sure to leave a proper audit trail. You may also use Excel, Great Plains, Peachtree, QuickBooks, or another accounting software package of your choosing to complete this problem.
Vendor Invoices
Date
Supplier Invoice
Supplier Name
Supplier Address
Amount
March 7
AJ34
Bud’s Soil Prep
PO Box 34
$2,067.85
March 11
14568
Osto Farmers Supply
45 Main
$ 67.50
March 14
893V
Whalers Fertilizer
Route 34
$5,000.00
March 21
14699
Osto Farmers Supply
45 Main
$3,450.37
March 21
10102
IFM Wholesale
587 Longview
$4,005.00
March 24
10145
IFM Wholesale
587 Longview
$ 267.88
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Rating:
/5
Solution: Case 2-1 Bar Harbor Blueberry Farm