Exam 27 Appendix : Accounting With Special Journals

The Sun Company completed the following sales and cash receipts transactions during the first week of December. The Sun Company uses the perpetual inventory system. a. Use the sales journal and the cash receipts journal to record these transactions b. Prepare a schedule of accounts receivable. There were no accounts receivable at December 1

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Question 141

Effective accounting information systems will do all of the following except:

(Multiple Choice)

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Question 142

The accounts payable ledger is used for storing transactions data regarding individual customers.

(True/False)

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Question 143

Two common subsidiary ledgers are cash receipts and cash disbursements.

(True/False)

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Question 144

The management of Pasama Inc. is evaluating the three segments of the company. Given the data below, which of the following statements is true regarding segment return on assets?

(Multiple Choice)

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Question 145

Input devices include:

(Multiple Choice)

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Question 146

The accounting principle that requires an accounting information system to report useful, understandable, timely and pertinent information for effective decision-making is the:

(Multiple Choice)

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Question 147

The flexibility principle of accounting information systems requires that the:

(Multiple Choice)

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Question 148

A company uses four special journals: purchases, sales, cash receipts and cash disbursements. The following transactions were incurred during August: $A company uses four special journals: purchases, sales, cash receipts and cash disbursements. The following transactions were incurred during August: Record these transactions in the appropriate special journals below. \begin{array}{l} \text { Purchases Journal }\\ \begin{array} { | l | l | l | l | l | l | l | l | l | } \hline \text { Date } & \text { Account } & \begin{array} { l } \text { Date of } \\ \text { Invoice } \end{array} & \text { Terms } & \text { PR } & \begin{array} { l } \text { Accounts } \\ \text { Payable } \\ \text { Cr. } \end{array} & \begin{array} { l } \text { Inventory } \\ \text { Dr. } \end{array} & \begin{array} { l } \text { Office } \\ \text { Supplies } \\ \text { Dr. } \end{array} & \begin{array} { l } \text { Other } \\ \text { Accounts } \\ \text { Dr. } \end{array} \\ \hline & & & & & & & & \\ \hline & & & & & & & & \\ \hline & & & & & & & & \\ \hline & & & & & & & & \\ \hline \end{array} \end{array}$ Record these transactions in the appropriate special journals below. $A company uses four special journals: purchases, sales, cash receipts and cash disbursements. The following transactions were incurred during August: Record these transactions in the appropriate special journals below. \begin{array}{l} \text { Purchases Journal }\\ \begin{array} { | l | l | l | l | l | l | l | l | l | } \hline \text { Date } & \text { Account } & \begin{array} { l } \text { Date of } \\ \text { Invoice } \end{array} & \text { Terms } & \text { PR } & \begin{array} { l } \text { Accounts } \\ \text { Payable } \\ \text { Cr. } \end{array} & \begin{array} { l } \text { Inventory } \\ \text { Dr. } \end{array} & \begin{array} { l } \text { Office } \\ \text { Supplies } \\ \text { Dr. } \end{array} & \begin{array} { l } \text { Other } \\ \text { Accounts } \\ \text { Dr. } \end{array} \\ \hline & & & & & & & & \\ \hline & & & & & & & & \\ \hline & & & & & & & & \\ \hline & & & & & & & & \\ \hline \end{array} \end{array}$ Purchases Journal Date Account Date of Invoice Terms PR Accounts Payable Cr. Inventory Dr. Office Supplies Dr. Other Accounts Dr. $A company uses four special journals: purchases, sales, cash receipts and cash disbursements. The following transactions were incurred during August: Record these transactions in the appropriate special journals below. \begin{array}{l} \text { Purchases Journal }\\ \begin{array} { | l | l | l | l | l | l | l | l | l | } \hline \text { Date } & \text { Account } & \begin{array} { l } \text { Date of } \\ \text { Invoice } \end{array} & \text { Terms } & \text { PR } & \begin{array} { l } \text { Accounts } \\ \text { Payable } \\ \text { Cr. } \end{array} & \begin{array} { l } \text { Inventory } \\ \text { Dr. } \end{array} & \begin{array} { l } \text { Office } \\ \text { Supplies } \\ \text { Dr. } \end{array} & \begin{array} { l } \text { Other } \\ \text { Accounts } \\ \text { Dr. } \end{array} \\ \hline & & & & & & & & \\ \hline & & & & & & & & \\ \hline & & & & & & & & \\ \hline & & & & & & & & \\ \hline \end{array} \end{array}$ $A company uses four special journals: purchases, sales, cash receipts and cash disbursements. The following transactions were incurred during August: Record these transactions in the appropriate special journals below. \begin{array}{l} \text { Purchases Journal }\\ \begin{array} { | l | l | l | l | l | l | l | l | l | } \hline \text { Date } & \text { Account } & \begin{array} { l } \text { Date of } \\ \text { Invoice } \end{array} & \text { Terms } & \text { PR } & \begin{array} { l } \text { Accounts } \\ \text { Payable } \\ \text { Cr. } \end{array} & \begin{array} { l } \text { Inventory } \\ \text { Dr. } \end{array} & \begin{array} { l } \text { Office } \\ \text { Supplies } \\ \text { Dr. } \end{array} & \begin{array} { l } \text { Other } \\ \text { Accounts } \\ \text { Dr. } \end{array} \\ \hline & & & & & & & & \\ \hline & & & & & & & & \\ \hline & & & & & & & & \\ \hline & & & & & & & & \\ \hline \end{array} \end{array}$ $A company uses four special journals: purchases, sales, cash receipts and cash disbursements. The following transactions were incurred during August: Record these transactions in the appropriate special journals below. \begin{array}{l} \text { Purchases Journal }\\ \begin{array} { | l | l | l | l | l | l | l | l | l | } \hline \text { Date } & \text { Account } & \begin{array} { l } \text { Date of } \\ \text { Invoice } \end{array} & \text { Terms } & \text { PR } & \begin{array} { l } \text { Accounts } \\ \text { Payable } \\ \text { Cr. } \end{array} & \begin{array} { l } \text { Inventory } \\ \text { Dr. } \end{array} & \begin{array} { l } \text { Office } \\ \text { Supplies } \\ \text { Dr. } \end{array} & \begin{array} { l } \text { Other } \\ \text { Accounts } \\ \text { Dr. } \end{array} \\ \hline & & & & & & & & \\ \hline & & & & & & & & \\ \hline & & & & & & & & \\ \hline & & & & & & & & \\ \hline \end{array} \end{array}$

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Question 149

Coca-Cola's Latin American segment had revenues of $2,089 million, operating income of $1,033 million and average total assets of $1,443 million. The Latin American segment return on assets is:

(Multiple Choice)

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Question 150

A book of original entry that is used to record and post transactions of a similar type is a:

(Multiple Choice)

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Question 151

The __________________ principle requires that an accounting information system conform with a company's activities, personnel and structure and must adapt to a company's unique characteristics.

(Short Answer)

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Question 152

Information processors:

(Multiple Choice)

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Question 153

Showing 141 - 153 of 153

Effective accounting information systems will do all of the following except:

The accounts payable ledger is used for storing transactions data regarding individual customers.

Two common subsidiary ledgers are cash receipts and cash disbursements.

The management of Pasama Inc. is evaluating the three segments of the company. Given the data below, which of the following statements is true regarding segment return on assets?

Input devices include:

The accounting principle that requires an accounting information system to report useful, understandable, timely and pertinent information for effective decision-making is the:

The flexibility principle of accounting information systems requires that the:

Coca-Cola's Latin American segment had revenues of $2,089 million, operating income of $1,033 million and average total assets of $1,443 million. The Latin American segment return on assets is:

A book of original entry that is used to record and post transactions of a similar type is a:

The __________________ principle requires that an accounting information system conform with a company's activities, personnel and structure and must adapt to a company's unique characteristics.

Information processors:

Introducing Accounting in Business

Analyzing and Recording Transactions

Adjusting Accounts and Preparing Financial Statements

Accounting for Merchandising Operations

Inventories and Cost of Sales

Cash and Internal Controls

Accounts and Notes Receivable

Long-Term Assets

Current Liabilities

Long-Term Liabilities

Corporate Reporting and Analysis

Reporting and Analyzing Cash Flows

Analyzing Financial Statements

Managerial Accounting Concepts and Principles

Job Order Costing and Analysis

Process Costing and Analysis

Activity-Based Costing and Analysis

Cost Behavior and Cost-Volume-Profit Analysis

Variable Costing and Performance Reporting

Master Budgets and Performance Planning

Flexible Budgets and Standard Costing

Decentralization and Performance Evaluation

Relevant Costing for Managerial Decisions

Capital Budgeting and Investment Analysis

Investments and International Operations

Accounting for Partnerships

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