ACCT5‐2019S3‐101 Group Project

Due Date: Week 10 beginning of class (2019‐Nov‐06 @ 5:30 pm)
This is a group assignment (as per groups on BlackBoard), 12% of the final grade.

Setup:
SLC Manufacturing LTD. is a manufacturing company producing robotic equipment used in large 
processing facilities.  The Controller, Curt Blacker has been on vacation and requires help processing 
the attached invoices, and preparing the August 31 month‐end reports.

Inventories: Aug‐01 Aug‐31

Raw Materials $        20,000 $        25,000
Work‐In‐Process $        50,000 $          5,000
Finished Goods $                   ‐ $        10,000

Required:
1) Prepare all required journal entries for the enclosed documents.
2) Calculate the HST receivable or owing based on these transactions.
3) Fill in the information for the Modified T‐Accounts.
4) Prepare a Costs of Goods Manufactured Schedule.
5) Prepare a pro forma Income Statement.

Notes:
1) Use the Journal Entry, Modified T‐Accounts, HST Calculation, and Schedule & Statement template 
provided.
2) Ensure you properly date each journal entry.
3) Ensure you number each journal entry uniquely, and reference that journal entry on each 
supporting document.
4) Make any annotations required on the supporting documents to tie directly into the journal entry 
line items, including any required supporting calculations. The amounts listed on each journal 
entry line items needs to tie directly into a number shown on the supporting document.

5) Marks will be awarded for properly and clearly referencing each journal entry to the supporting 
document and showing additional annotations.
6) Make sure you show your work and all supporting calculations, clearly and neatly!
7) SLC Manufacturing only considers computer mainframes as 'raw materials'.
8) Utilities are split 50/50 between manufacturing and corporate.

Submission Method:
Staple together the following documents in the following sequence:
1) Cover Page
2) Journal Entry template
3) Modified T‐Accounts template
4) HST Calculation template
4) Schedule and Statement template
5) All supporting documentation (invoice, time sheets, etc…)

Hand in the above package at the beginning of class on the due date.  Only one submission per group 
will be accepted.
 ACCT5‐2019S3‐101 Group Project

Due Date: Week 10 beginning of class (2019‐Nov‐06 @ 5:30 pm)
This is a group assignment (as per groups on BlackBoard), 12% of the final grade.

Cover Page

Group Member Names and Student IDs (make sure you list all members):

1)

2)

3)

4)
 Journal Entry  Entry Date Entry Description Account Name Debit Credit
Number 

                        1 25‐Jul‐2018
                        1 25‐Jul‐2018
                        1 25‐Jul‐2018
                        2 28‐Jul‐2018
                        2 28‐Jul‐2018
                        3 5‐Aug‐2018
                        3 5‐Aug‐2018
                        3 5‐Aug‐2018
                        4 1‐Jul‐2018
                        4 1‐Jul‐2018
                        4 1‐Jul‐2018
5a 31‐Jul‐2018
5a 31‐Jul‐2018
5a 31‐Jul‐2018
5a 31‐Jul‐2018
5a 31‐Jul‐2018
5a 31‐Jul‐2018
5a 31‐Jul‐2018
5b 31‐Jul‐2018
5b 31‐Jul‐2018
5b 31‐Jul‐2018
5b 31‐Jul‐2018
5b 31‐Jul‐2018
5b 31‐Jul‐2018
5b 31‐Jul‐2018
5c 31‐Jul‐2018
5c 31‐Jul‐2018
5c 31‐Jul‐2018
5c 31‐Jul‐2018
5c 31‐Jul‐2018
5c 31‐Jul‐2018
5c 31‐Jul‐2018
                        6 29‐Jul‐2018
                        6 29‐Jul‐2018
                        6 29‐Jul‐2018
                        6 29‐Jul‐2018
 Journal Entry  Entry Date Entry Description Account Name Debit Credit
Number 

                        7 29‐Jun‐2018
                        7 29‐Jun‐2018
                        7 29‐Jun‐2018
                        8 23‐Aug‐2018
                        8 23‐Aug‐2018
                        8 23‐Aug‐2018
                        9 3‐Aug‐2018
                        9 3‐Aug‐2018
                     10 3‐Aug‐2018
                     10 3‐Aug‐2018
                     10 3‐Aug‐2018
                     11 16‐Aug‐2018
                     11 16‐Aug‐2018
                     11 16‐Aug‐2018
ACCT5‐2019S3‐101 Group Project

Modified T‐Accounts
1) Record Dr as positives, and Cr as negatives.

Journal Entry Number 1 2 3 4 5a 5b 5c 6 7
Entry Date 25‐Jul‐2018 28‐Jul‐2018 5‐Aug‐2018 1‐Jul‐2018 31‐Jul‐2018 31‐Jul‐2018 31‐Jul‐2018 29‐Jul‐2018 29‐Jun‐2018

Balance Sheet
Cash/Cheque
Accounts Receivable ‐ General
Accounts Receivable ‐ HST $             2,229.50
Inventory ‐ Raw Materials
Inventory ‐ Work‐In‐Process
Inventory ‐ Finished Goods
Accounts Payable ‐ General
Accounts Payable ‐ Credit Card $               (877.50) $               (702.84)
Accounts Payable ‐ Kurt Kaiser
Accounts Payable ‐ CPP $               (259.88)
Accounts Payable ‐ EI
Accounts Payable ‐ Income Taxes Deducted $               (813.31)
Accounts Payable ‐ Salaries
Accounts Payable ‐ HST

Income Statement
Sales Revenue
Manufacturing ‐ Direct Labour
Manufacturing Overhead ‐ Indirect Materials $             1,555.63
Manufacturing Overhead ‐ Indirect Labour
Manufacturing Overhead ‐ Machine Maintenance
Manufacturing Overhead ‐ Utilities
Corporate ‐ Selling and Admin $             4,007.63
Corporate ‐ Shipping Expenses $                585.00
Corporate ‐ Marketing Expenses
Corporate ‐ Travel Expenses
Corporate ‐ Utilities

Total/Net $                      ‐ $                      ‐ $                      ‐ $                      ‐ $                      ‐ $                      ‐ $                      ‐ $                      ‐ $                      ‐
ACCT5‐2019S3‐101 Group Project

Modified T‐Accounts
1) Record Dr as positives, and Cr as negatives.

Journal Entry Number 8 9 10 11 Total
Entry Date 23‐Aug‐2018 3‐Aug‐2018 3‐Aug‐2018 16‐Aug‐2018

Balance Sheet
Cash/Cheque $         (19,379.50)
Accounts Receivable ‐ General
Accounts Receivable ‐ HST $             4,557.82
Inventory ‐ Raw Materials
Inventory ‐ Work‐In‐Process
Inventory ‐ Finished Goods $           (5,000.00)
Accounts Payable ‐ General
Accounts Payable ‐ Credit Card $           (3,338.21)
Accounts Payable ‐ Kurt Kaiser $               (163.85)
Accounts Payable ‐ CPP
Accounts Payable ‐ EI
Accounts Payable ‐ Income Taxes Deducted $           (1,718.56)
Accounts Payable ‐ Salaries
Accounts Payable ‐ HST

Income Statement
Sales Revenue $       (120,000.00)
Manufacturing ‐ Direct Labour $             2,805.34
Manufacturing Overhead ‐ Indirect Materials
Manufacturing Overhead ‐ Indirect Labour
Manufacturing Overhead ‐ Machine Maintenance
Manufacturing Overhead ‐ Utilities
Corporate ‐ Selling and Admin
Corporate ‐ Shipping Expenses
Corporate ‐ Marketing Expenses
Corporate ‐ Travel Expenses
Corporate ‐ Utilities

Total/Net $                      ‐ $                      ‐ $                      ‐ $                      ‐ $                   (0.01)

ACCT5‐2019S3‐101 Group Project

HST Calculation
 Journal Entry  Entry Date Entry Description Accounts  Accounts 
Number  Receivable ‐  Payable ‐ HST
HST
                       1 25‐Jul‐2018
                       2 28‐Jul‐2018
                       3 5‐Aug‐2018
                       4 1‐Jul‐2018
5a 31‐Jul‐2018
5b 31‐Jul‐2018
5c 31‐Jul‐2018
                       6 29‐Jul‐2018
                       7 29‐Jun‐2018
                       8 23‐Aug‐2018
                       9 3‐Aug‐2018
                     10 3‐Aug‐2018
                     11 16‐Aug‐2018
Total/Net
Receivable/(Owing)
ACCT5‐2019S3‐101 Group Project

SLC Manufacturing LTD.
Cost of Good Manufactured Schedule
For the Month Ended August 31, 2018

Manufacturing ‐ Direct Materials

Raw Materials Available for Use
$        (25,000.00)
Raw Materials Used in Production

Manufacturing ‐ Direct Labour

Manufacturing Overhead

Total Manufacturing Overhead

Total Manufacturing Costs $          23,342.94

Less: Ending Inventory ‐ Work‐In‐Process
Cost of Good Manufactured

SLC Manufacturing LTD.
pro forma Income Statement
For the Month Ended August 31, 2018

Sales

Cost of Goods Sold
Add: Beginning Inventory ‐ Finished Goods
Add: Cost of Goods Manufactured
Goods Available for Sale
Less: Ending Inventory ‐ Finished Goods $        (10,000.00)
Total/Net ‐ Cost of Goods Sold $          58,342.94

Gross Margin

Corporate Expenses

Total/Net ‐ Corporate Expenses

Operating Net Income
Supply Depot INVOICE
2 Miller Lane
Kingston, ON K3F 2N5 Invoice No. 4582-2
Date: 25-Jul-18
Ship Date:
Page: 1
Re: Order No.

Sold to: Ship to:

SLC Manufacturing LTD. SLC Manufacturing LTD.
50 Main Street West 50 Main Street West
Kingston, ON K7L 5A6 Kingston, ON K7L 5A6

HST#: 123456689RT0001

Item No. Unit Quantity Description Base Price Disc % Unit Price Amount
A1010 each 7.00 Computer $ 2,500.00 2.00% $ 2,450.00 $ 17,150.00
mainframe

Paid by cash/cheque on
July 28, 2018

Terms: 2/10, n/30 Total $ 17,150.00

Thank you for your business! GST/HST $ 2,229.50
Total Invoice $ 19,379.50
Federal Express Ltd. INVOICE
100 Shipment Lane
Toronto, ON  K3M 4N5 Invoice No. 4‐758‐22120523
Date: 5‐Aug‐18
Ship Date: 3‐Aug‐18
Page: 1
Re: Order No.

Sold to: Ship to:
SLC Manufacturing LTD. Paquin and Company Ltd.
50 Main Street West 700 Summer Drive
Kingston, ON  K7L 5A6 Petawawa, ON  K9R 7U8

HST#: 123456789RT0001

Details Amount
Shipping charges including fuel surcharge and duties $          585.00

Terms: Due upon receipt.  Total $          585.00

Note: This is not an invoice. The amount will automatically be  GST/HST $          292.50
deducted from your credit card on file.  Total Invoice $          877.50
Speedy Automation Products INVOICE
3049 Madeleine Drive
London, ON P8J 3M8 Invoice No. 795-2
Date: 1-Jul-18
Ship Date:
Page: 1
Re: Order No.

Sold to: Ship to:

SLC Manufacturing LTD. SLC Manufacturing LTD.
50 Main Street West 50 Main Street West
Kingston, ON K7L 5A6 Kingston, ON K7L 5A6

HST#: 123456489RT0001

Item No. Unit Quantity Description Base Price Disc % Unit Price Amount
6783 Each 3.00 Grease, mechanical, silicone based $ 9.13 $ 9.13 $ 27.39
987523 Each 18.00 3x8 metal rods, stainless, square, 20ft $ 45.67 $ 45.67 $ 822.06
987578 Each 16.00 4x6 metal rods, aluminum, round 8ft $ 42.23 $ 42.23 $ 675.68

Purchased on Corporate Credit Card

Terms: 2/10, n/30 Total $ 1,525.13

Shipping $ 30.50
Gross Total $ 1,555.63
Thank you for your business! GST/HST $ 202.23
Total Invoice $ 1,757.86
Timesheet Summary
SLC Manufacturing LTD.
50 Main Street West Period Ended: 31‐Jul‐18
Kingston, ON  K7L 5A6

Employee Name: Tim Turner Job Title: Assembly, Cutting Department

Hours Worked Pay Rate Gross Pay
175 $                15.00 $           2,625.00
CPP EI Tax deduction Net Pay
$              129.94 $                50.40 $              372.75 $           2,071.91
Employee Name: Jason Jackson Job Title: Supervisor, Manufacturing
Hours Worked Pay Rate Gross Pay
290 $                19.75 $           5,727.50
CPP EI Tax deduction Net Pay
$              283.51 $              109.97 $              813.31 $           4,520.72

Employee Name: Fawn Faller Job Title: Sales Representative

Hours Worked Pay Rate Gross Pay
250 $                15.00 $           3,750.00
CPP EI Tax deduction Net Pay
$              185.63 $                72.00 $              532.50 $           2,959.88
Kingston Utilities Ltd. INVOICE
12 City Hall Street
Kingston, ON  K7X 7X7 Invoice No. 75675‐85832
Date: 29‐Jul‐18

Sold to:
SLC Manufacturing LTD.
50 Main Street West
Kingston, ON  K7L 5A6

HST#: 223456789RT0001

Details Amount
Utilities charges July for manufacturing facilities $                 432.16
Estimated Usage 754 kW
Actual Usage 657kW
Delivery charges $                 143.22
Debt repayment charges $                   46.61

Terms: upon receipt.  Total $                 621.98

Note: This is not an invoice. The amount will automatically be  GST/HST $                   80.86
deducted from your credit card on file.  Total Invoice $                 702.84
Wrench Services INVOICE
50 Front Drive
Kingston, ON  K8E 3J3 Invoice No. 153
Date: 29‐Jun‐18
Ship Date:
Page: 1
Re: Order No.

Sold to:
SLC Manufacturing LTD.
50 Main Street West
Kingston, ON  K7L 5A6

HST#: 456456789RT0001

Details #hours Rate Amount

Repair technician: Ralph Roder
Labour time re. milling machine malfun                         4.00 $                 100.00 $                 400.00

Terms: Due on receipt.  Total $                 400.00

GST/HST $                   52.00
Total Invoice $                 452.00
Graphit Design Ltd. INVOICE
77 Debbie Road
Brockville, ON K8L 3N5 Invoice No. 12
Date: 23-Aug-18

Re: Order No. 5478-35422

Sold to:
SLC Manufacturing LTD.
50 Main Street West
Kingston, ON K7L 5A6

HST#: 153456789RT0001

Details #hours Rate Amount

Web site development $ 17,250.00
Less: Retainer (Invoiced on Invoice No. 4 and payment received) $ (4,312.50)

Terms: Due upon receipt. Total $ 12,937.50

GST/HST $ 1,681.88
Total Invoice $ 14,619.38
SLC Manufacturing LTD. INVOICE ‐ Product Sample
50 Main Street West
Kingston, ON  K7L 5A6 Invoice No. 655852
Date: 3‐Aug‐18
Ship Date: 3‐Aug‐18
Page: 1
Re: Order No.

Sold to: Ship to:
Bouvier Company Ltd. Bouvier Company Ltd.
700 Winter Crescent 700 Winter Crescent
Cornwall, ON  K9U 4M3 Cornwall, ON  K9U 4M3

HST#: 777456789RT0001

Details Amount CDN
Sample robot arm for testing purposes. On loan for one month.  $       5,000.00

Terms: n/30 Total $       5,000.00

Total Invoice $       5,000.00
SLC Manufacturing LTD. INVOICE
50 Main Street West
Kingston, ON  K7L 5A6 Invoice No. 654852
Date: 3‐Aug‐18
Ship Date: 3‐Aug‐18
Page: 1
Re: Order No. 65482

Sold to: Ship to:
Paquin and Company Ltd. Paquin and Company Ltd.
700 Summer Drive 700 Summer Drive
Petawawa, ON  K9R 7U8 Petawawa, ON  K9R 7U8

HST#: 777456789RT0001

Details Amount CDN
Custom robot as per specifications including all options. $   120,000.00

Terms: n/30 Total $   120,000.00

GST/HST $     15,600.00
Total Invoice $   135,600.00
SLC Manufacturing LTD. Employee Expense Claim
50 Main Street West
Kingston, ON  K7L 5A6
Date: 16‐Aug‐18

Page: 1

Employee Name:
Kurt Kaiser
75 Up Street West
Kingston, ON  K8L 5S6

Details Amount CDN
Via Train Ticket Kingston to Toronto regarding engineering seminar $          163.85
Receipt and boarding pass is attached.
Purchased on credit card.
Note: This includes HST.

Terms: n/30 Total $          163.85

Total Claim $          163.85