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The context diagram in Figure 16.4 (pg. 622) shows the data flows running to the GL from the feeder processes studied in Chapters 10 through 15. a. For each data flow in Figure 16.4, show the journal entry (in debit/credit journal entry format, with no dollar amounts) that would result (make and state any assumptions that you think are necessary). b. Name at least two other entries that would normally come from the feeder processes that are not shown in Figure 16.4. c. In journal form, show one representative entry (including an entry explanation) that the treasurer would furnish for (1) investing transaction activities and (2) financing transaction activities.

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Pkg Acc Infor Systems MS VISIO CD

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

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BuyFindarrow_forward

Pkg Acc Infor Systems MS VISIO CD

10th Edition
Ulric J. Gelinas
Publisher: CENGAGE L
ISBN: 9781133935940
Chapter 16, Problem 1P
Textbook Problem
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The context diagram in Figure 16.4 (pg. 622) shows the data flows running to the GL from the feeder processes studied in Chapters 10 through 15.

  1. a. For each data flow in Figure 16.4, show the journal entry (in debit/credit journal entry format, with no dollar amounts) that would result (make and state any assumptions that you think are necessary).
  2. b. Name at least two other entries that would normally come from the feeder processes that are not shown in Figure 16.4.
  3. c. In journal form, show one representative entry (including an entry explanation) that the treasurer would furnish for (1) investing transaction activities and (2) financing transaction activities.

a)

Summary Introduction

To show: The journal entry that would result.

General ledger/business reporting process (GL/BR):

General ledger can be defined as the central data repository needed to develop the business reports. The business reports and other forms of information generation are all derived from the general ledger data repository. The GL/BR process is considered as a central activity of the accounting information systems.

Explanation of Solution

The journal entry that would result:

The assumptions that are made are:

  • Perpetual inventory process is used.
  • The sales and purchase discounts are disregarded...

b)

Summary Introduction

To name: Two other possible entries that would normally come from the feeder process.

General ledger/business reporting process (GL/BR):

General ledger can be defined as the central data repository needed to develop the business reports. The business reports and other forms of information generation are all derived from the general ledger data repository. The GL/BR process is considered as a central activity of the accounting information systems.

c)

Summary Introduction

To show: A representative entry in journal form.

General ledger/business reporting process (GL/BR):

General ledger can be defined as the central data repository needed to develop the business reports. The business reports and other forms of information generation are all derived from the general ledger data repository. The GL/BR process is considered as a central activity of the accounting information systems.

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