menu
bartleby
search
close search
Hit Return to see all results
close solutoin list

Figure 12.4 (pg. 463) and Figure 13.3 (pg. 502) show three data flows running to the general ledger (GL) for the purpose of updating the general ledger master data. For each of the following three data flows, show the journal entry (in debit/credit journal entry format with no dollar amounts) that would result under all of the five situations below that would apply. Make and state any assumptions you think are necessary. Data Flows: A. GL inventory received update (show both debit and credit entries, even if they originate in a process other than AP/CD) B. GL payable update C. GL cash disbursements update Situations: 1. Merchandise is purchased, and a periodic inventory process is used. 2. Merchandise is purchased, and a perpetual inventory process is used. 3. Office supplies are purchased. 4. Plant assets are purchased. 5. Legal services are purchased.

BuyFindarrow_forward

Pkg Acc Infor Systems MS VISIO CD

10th Edition
Ulric J. Gelinas
Publisher: CENGAGE L
ISBN: 9781133935940

Solutions

Chapter
Section
BuyFindarrow_forward

Pkg Acc Infor Systems MS VISIO CD

10th Edition
Ulric J. Gelinas
Publisher: CENGAGE L
ISBN: 9781133935940
Chapter 13, Problem 5P
Textbook Problem
3 views

Figure 12.4 (pg. 463) and Figure 13.3 (pg. 502) show three data flows running to the general ledger (GL) for the purpose of updating the general ledger master data.

For each of the following three data flows, show the journal entry (in debit/credit journal entry format with no dollar amounts) that would result under all of the five situations below that would apply. Make and state any assumptions you think are necessary.

Data Flows:

  1. A. GL inventory received update (show both debit and credit entries, even if they originate in a process other than AP/CD)
  2. B. GL payable update
  3. C. GL cash disbursements update

Situations:

  1. 1. Merchandise is purchased, and a periodic inventory process is used.
  2. 2. Merchandise is purchased, and a perpetual inventory process is used.
  3. 3. Office supplies are purchased.
  4. 4. Plant assets are purchased.
  5. 5. Legal services are purchased.

1)

Summary Introduction

To show: The journal entry for the given situation.

Introduction:

Accounting Information System (AIS) is said to be the specialized subsystem of the Information System (IS). AIS can be used in the business events for the purpose of collecting, processing, and reporting the financial information.

Explanation of Solution

Given situation:

Merchandise is purchased and periodic inventory process will be used.

Show the journal entry for the given situation:

No entry will be made if the general ledger inventory received the update...

2)

Summary Introduction

To show: The journal entry for the given situation.

Introduction:

Accounting Information System (AIS) is said to be the specialized subsystem of the Information System (IS). AIS can be used in the business events for the purpose of collecting, processing, and reporting the financial information.

3)

Summary Introduction

To show: The journal entry for the given situation.

Introduction:

Accounting Information System (AIS) is said to be the specialized subsystem of the Information System (IS). AIS can be used in the business events for the purpose of collecting, processing, and reporting the financial information.

4)

Summary Introduction

To show: The journal entry for the given situation.

Introduction:

Accounting Information System (AIS) is said to be the specialized subsystem of the Information System (IS). AIS can be used in the business events for the purpose of collecting, processing, and reporting the financial information.

5)

Summary Introduction

To show: The journal entry for the given situation.

Introduction:

Accounting Information System (AIS) is said to be the specialized subsystem of the Information System (IS). AIS can be used in the business events for the purpose of collecting, processing, and reporting the financial information.

Still sussing out bartleby?

Check out a sample textbook solution.

See a sample solution

The Solution to Your Study Problems

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

Get Started

Chapter 13 Solutions

Pkg Acc Infor Systems MS VISIO CD
Show all chapter solutions
add

Additional Business Textbook Solutions

Find more solutions based on key concepts
Show solutions add
Suppose the population of Area Y is relatively young, and the population of Area O is relatively old, but every...

Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)

What is a driver? Give an example of a cost and its corresponding output measure or driver.

Managerial Accounting: The Cornerstone of Business Decision-Making

Why is productivity important?

Essentials of Economics (MindTap Course List)

Post the following entry to the general ledger and subsidiary ledger.

College Accounting (Book Only): A Career Approach

How does employee participation increase motivation?

Foundations of Business (MindTap Course List)

How often should standards be revised?

Survey of Accounting (Accounting I)