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Create new Business Partners (Vendors).

Vendor Code Name Tax Payment Terms Price List


QVen1 Quiz A Exempt 10-20-30 Divisoria
QVen2 Quiz B Liable Cash Basic Discounted

Create New Items.

Item Code Name Unit Price


QItem1 Quiz Item 1 130.00
QItem2 Quiz Item 2 180.00
QItem3 Quiz Item 3 150.00
QItem4 Quiz Item 4 600.00
QItem5 Quiz Item 5 230.00

A. You want to place an order with your vendor, QVen1. To do so, you call up the
purchase order document and enter the vendor number.

ITEM CODE QUANTITY


QItem1 300
QItem2 150
QItem3 60

1. What is the effect on the inventory data?

Item No. In-Stock Ordered Committed Available


QItem1
QItem2
QItem3
2. What is the effect on the General Ledger?_____________
3. How much is the Total Before Discount?_____________

B. Create Good Receipt PO with reference to Purchase Order.

1. What is the effect on the inventory data?

Item No. In-Stock Ordered Committed Available


QItem1
QItem2
QItem3

2. What are the journal entries?


a. _____________________________________
b. _____________________________________
C. Create AP Invoice with reference to GRPO

1. How much is the account balance of QVen1? _________________

D. Create an Outgoing Payment for QVen1.

1. How much is the Balance Due? __________________

E. You want to place an order with your vendor, QVen2. To do so, you call up the
purchase order document and enter the vendor number.

ITEM CODE QUANTITY


QItem3 300
QItem4 60
QItem5 120

1. What is the effect on the inventory data?

Item No. In-Stock Ordered Committed Available


QItem3
QItem4
QItem5

2. What is the effect on the General Ledger? _________________


3. How much is the Total Before Discount? ________________

F. Create Goods Receipt PO with reference to Purchase Order.

ITEM CODE QUANTITY


QItem4 50
QItem5 100

1. What is the effect on the inventory data?

Item No. In-Stock Ordered Committed Available


QItem3
QItem4
QItem5

2. What are the Journal Entries?


a. _________________
b. _________________
3. How much is the Total Before Discount? ________________

G. Create Goods Receipt PO to the remaining items with reference to you PO form QVen2.

1. What is the effect on the inventory data?


Item No. In-Stock Ordered Committed Available
QItem3
QItem4
QItem5

2. What are the Journal Entries?


a. _________________
b. _________________
3. How much is the Total Before Discount? ________________

H. Create Goods Return.

ITEM CODE QUANTITY


QItem3 200

1. What is the effect on the inventory data?

Item No. In-Stock Ordered Committed Available


QItem3
QItem4
QItem5

2. What are the Journal Entries?


a. _________________
b. _________________

I. Create AP Invoice for the two GRPO of QVen2.

1. How much is the Account Balance of QVen2? ______________

J. Create an Outgoing Payment for two AP Invoice of QVen2.

1. How much is the balance due? __________________