Questions On A Company Accountant Design Spreadsheets

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The assignment work submitted by my own and the sources which I used have been acknowledged in the reference list.


We can do it by go to menu bar in format cells and select currency and then change in numbers

In a company accountant design spreadsheets with separate data entry area for further use of data …show more content…

The essential difference between this inventories systems are following as under.

 The periodic inventory system is generally used for inexpensive goods, while perpetual inventory system is a computerized record of inventory used for expensive goods and by large store.
 Under the periodic inventory business physically counts its inventory periodically to determine the quantities on hand, while under the perpetual system the number of inventory units and dollar amounts are constantly updated.
 In the periodic system the cash register does not keep each & every item that it sells. While in a perpetual system the cash register is a computer terminal that records sales, updates inventory and GST records.
 The small retail stores and restaurants mostly use the periodic system. For example, local restaurants and ice-cream and grocery shops, while large stores, malls and supermarkets use the perpetual inventory system by bar codes to keep up-to-the minute records of their current inventory. For example, Coles and Woolworths supermarkets.

Under the Periodic System the journal entry appears like DR: Purchases 700,000 CR: Cash or Accounts

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