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Accounting Information Systems

11th Edition
Ulric J. Gelinas + 3 others
ISBN: 9781337552127

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BuyFindarrow_forward

Accounting Information Systems

11th Edition
Ulric J. Gelinas + 3 others
ISBN: 9781337552127
Textbook Problem

Figure 15.8 shows several data flows running to the general ledger (GL) for the purpose of updating the GL master data.

  1. a. For each of the following data flows in Figure 15.8, show the journal entry (in debit/credit journal entry format, with no dollar amounts) that would result (make and state any assumptions you think are necessary):
  • GL standard costs applied update GL RM variances update
  • GL DL variances update
  • GL MOH variances update
  • GL cost of goods completed update
  1. b. What other standard cost accounting entries are not included in your answer to requirement a? Show those journal entries; describe when they would be made and what event they are recording.

a)

Summary Introduction

To show: The journal entry format with no dollar amounts.

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

Given diagram:

Here,

RM refers to Raw Material

MOH refers to Manufacturing OverHead

DL refers to Direct...

b)

Summary Introduction

To draw: The context diagram for the system when the raw materials inventory and finished goods inventory are within the system context.

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.

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