Exam 9: Appendix

An MIS is designed to

The difference in the Sales Journal between the perpetual and periodic systems is thecolumn to record cost of goods sold and inventory amounts for each sale.

The same form is used to report both Canada Pension and employee income taxes withheld.

Explain what is meant by footing and cross footing

List the five subsystems within a management information system (MIS)

Accrued wages are subject to payroll taxes before they are paid

The Accounts Payable ledger is used for storing transaction data regarding individualcustomers.

Employee (fringe)benefit costs represent expenses to the employer in addition to thedirect costs of salaries and wages.

Explain the use of controlling accounts and subsidiary ledgers

An Accounts Receivable ledger is

A special journal is any journal used for recording and posting transactions of a similartype.

After posting the entries to record salary expenses and payroll tax expenses, the income taxes payable account of Halpha Company has a $9,000 credit expense resulting from income taxes.

The statute that requires an employer to complete a record of employment due to termination, illness, injury or pregnancy is called the:

Enterprise-application software is used primarily for journal entries

A record of an employee's hours worked, gross pay, deductions, net pay, and certain personal information about the employee is an employee's:

Each time a payroll is recorded, a General Journal entry should also be made to record the employer's CPP and EI amounts payable.

The Purchases Journal is the same in both the periodic and perpetual systems

When a Sales Journal's sales amount column is totalled at the end of the month, the totalis:

The General Journal is flexible and can be used for original, adjusting, closing, andcorrecting entries.

The Employee's Individual Earnings Record serves as a subsidiary ledger to the PayrollRegister account in the General Ledger.