1 Role Of Accounting In Society 2 Introduction To Financial Statements 3 Analyzing And Recording Transactions 4 The Adjustment Process 5 Completing The Accounting Cycle 6 Merchandising Transactions 7 Accounting Information Systems 8 Fraud, Internal Controls, And Cash 9 Accounting For Receivables 10 Inventory 11 Long-term Assets 12 Current Liabilities 13 Long-term Liabilities 14 Corporation Accounting 15 Partnership Accounting 16 Statement Of Cash Flows Chapter7: Accounting Information Systems
Chapter Questions Section: Chapter Questions
Problem 1MC: So far, computer systems cannot yet ________. A. receive data and instructions from input devices... Problem 2MC: Any device used to provide the results of processing data is a(n) ________ device. A. sources B.... Problem 3MC: Source documents ________. A. are input devices B. are output devices C. do not have to be on paper... Problem 4MC: All of the following can provide source data except ________. A. a scanning device at the grocery... Problem 5MC: A document that asks you to return an identifying part of it with your payment is a(n) ________. A.... Problem 6MC: Which of the following is false about accounting information systems? A. They provide reports that... Problem 7MC: An unhappy customer just returned $50 of the items he purchased yesterday when he charged the goods... Problem 8MC: A customer just charged $150 of merchandise on the companys own charge card. Which special journal... Problem 9MC: A customer just charged $150 of merchandise using MasterCard. Which special journal would the... Problem 10MC: The company just took a physical count of inventory and found $75 worth of inventory was unaccounted... Problem 11MC: Your company paid rent of $1,000 for the month with check number 1245. Which journal would the... Problem 12MC: On January 1, Incredible Infants sold goods to Babies Inc. for $1,540, terms 30 days, and received... Problem 13MC: Received a check for $72 from a customer, Mr. White. Mr. White owed you $124. Which journal would... Problem 14MC: You returned damaged goods you had previously purchased from C.C. Rogers Inc. and received a credit... Problem 15MC: Sold goods for $650 cash. Which journal would the company use to record this transaction? A. sales... Problem 16MC: Sandren Co. purchased inventory on credit from Acto Supply Co. for $4,000. Sandren Co. would... Problem 17MC: Sold goods for $650, credit terms net 30 days. Which journal would the company use to record this... Problem 18MC: You returned damaged goods to C.C. Rogers Inc. and received a credit memo for $250. Which journal(s)... Problem 19MC: The sum of all the accounts in the accounts receivable subsidiary ledger should ________. A. equal... Problem 20MC: AB Inc. purchased inventory on account from YZ Inc. The amount was $500. AB Inc. uses an accounting... Problem 21MC: You just posted a debit to ABC Co. in the accounts receivable subsidiary ledger. Which special... Problem 22MC: You just posted a credit to Stars Inc. in the accounts receivable subsidiary ledger. Which special... Problem 23MC: You just posted a debit to Cash in the general ledger. Which special journal did it come from? A.... Problem 24MC: You just posted a credit to Accounts Receivable. Which special journal did it come from? A. sales... Problem 25MC: You just posted a credit to Sales and a debit to Cash. Which special journal did it come from? A.... Problem 26MC: An enterprise resource planning (ERP) system ________. A. is software to help you prepare your tax... Problem 27MC: Which of the following is not a way to prevent your computer from being attacked by ransomware? A.... Problem 28MC: Big data is mined ________. A. to find business trends B. to record transactions C. as an... Problem 29MC: Artificial intelligence refers to ________. A. tutorials that can make humans smarter than they... Problem 30MC: Blockchain is a technology that ________. A. is in the early stages of being developed B. was a... Problem 31MC: Which of the following is not true about cybercurrency? A. Bitcoin is one of several... Problem 1Q: Why does a student need to understand how to use a manual, paper-based accounting information system... Problem 2Q: Provide an example of how paper-based accounting information systems are different from computerized... Problem 3Q: Why are scanners better than keyboards? Problem 4Q: Why are there so many different accounting information system software packages? Problem 5Q: Which area of accounting needs a computerized accounting information system the most—payroll, tax,... Problem 6Q: The American Institute of Certified Public Accountants (AICPA) has stated that accountants will need... Problem 7Q: Which special journals also require an entry to a subsidiary ledger? Problem 8Q: What is a schedule of accounts receivable? Problem 9Q: How often do we post the cash column in the cash receipts journal to the subsidiary ledger? Problem 10Q: The schedule of accounts payable should equal what? Problem 11Q: Which amounts do we post daily and which do we post monthly? Problem 12Q: Why are special journals used? Problem 13Q: Name the four main special journals. Problem 14Q: A journal entry that requires a debit to Accounts Receivable and a credit to Sales goes in which... Problem 15Q: The purchase of equipment for cash would be recorded in which special journal? Problem 16Q: Can a sales journal be used to record sales on account and a cash sale? Why or why not? Problem 17Q: When should entries from the sales journal be posted? Problem 18Q: We record a sale on account that involves sales tax in which journal? Problem 19Q: We record purchases of inventory for cash in which journal(s)? Problem 20Q: Should the purchases journal have a column that is a debit to Accounts Payable? Problem 21Q: Forensic means suitable for use in a court of law. How does that have anything to do with... Problem 1EA: For each of the following, indicate if the statement reflects an input component, output component,... Problem 2EA: All of the following information pertains to Greens Grocery. Match each of the following parts of... Problem 3EA: Match the special journal you would use to record the following transactions. Select from the... Problem 4EA: For each of the transactions, state which special journal (sales journal, cash receipts journal,... Problem 5EA: Catherines Cookies has a beginning balance in the Accounts Payable control total account of $8,200.... Problem 6EA: Record the following transactions in the sales journal: Problem 7EA: Record the following transactions in the cash receipts journal. Problem 8EA: Maddie Inc. has the following transactions for its first month of business. A. What are the... Problem 1EB: For each of the following, indicate if the statement reflects an input component, output component,... Problem 2EB: The following information pertains to Crossroads Consulting, Inc. Match each of the following parts... Problem 3EB: Match the special journal you would use to record the following transactions. Problem 4EB: For each of the following transactions, state which special journal (Sales Journal, Cash Receipts... Problem 5EB: Catherines Cookies has a beginning balance in the Accounts Receivable control total account of... Problem 6EB: Record the following transactions in the purchases journal: Problem 7EB: Record the following transactions in the cash disbursements journal: Problem 8EB: Piedmont Inc. has the following transactions for its first month of business: A. What are the... Problem 1PA: On June 30, Oscar Inc.s bookkeeper is preparing to close the books for the month. The accounts... Problem 2PA: Evie Inc. has the following transactions during its first month of business. Journalize the... Problem 4PA: Use the journals and ledgers that follow. Total the journals. Post the transactions to the... Problem 5PA: Brown Inc. records purchases in a purchases journal and purchase returns in the general journal.... Problem 1PB: On June 30, Isner Inc.s bookkeeper is preparing to close the books for the month. The accounts... Problem 3PB: Use the journals and ledgers that follows. Total and rule (draw a line under the column of numbers)... Problem 1TP: Why must the Accounts Receivable account in the general ledger match the totals of all the... Problem 2TP: Why would a company use a subsidiary ledger for its Accounts Receivable? Problem 3TP: If a customer owed your company $100 on the first day of the month, then purchased $200 of goods on... Problem 5Q: Which area of accounting needs a computerized accounting information system the most—payroll, tax,...
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Topic: Accounting information system
What documents does the AP clerk review before setting up a liability? Why?
Definition Definition Structural system an enterprise uses to collect, store, report, retrieve, and process financial data. Accounting information systems are used by business analysts, auditors, accountants, and consultants for accurate and efficient access to financial data.
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