6. Centex Sound Systems purchased merchandise inventory costing $8,000 from Flower Co. on account. Where should Centex record this transaction, and what account is credited? a. Cash payments journal; credit Cash b. Sales journal; credit Sales Revenue c. Purchases journal; credit Accounts Payable d. General journal; credit Merchandise Inventory 7. Every transaction recorded in the cash payments journal includes a a. credit to Cash. c. debit to Sales Discounts. b. debit to Accounts Receivable. d. debit to Cash. 8. When using a manual accounting information system, which of the following trans- actions would be recorded in the general journal? a. Depreciation of office furniture b. Cash payment of rent c. Sale of merchandise inventory on account d. Purchase of merchandise inventory on account 9. Which is a disadvantage of an enterprise resource planning (ERP) system? a. Helps companies adjust to changes b. Can replace separate software systems c. Can reduce operating costs d. Implementation requires a large commitment of time and people
6. Centex Sound Systems purchased merchandise inventory costing $8,000 from Flower Co. on account. Where should Centex record this transaction, and what account is credited? a. Cash payments journal; credit Cash b. Sales journal; credit Sales Revenue c. Purchases journal; credit Accounts Payable d. General journal; credit Merchandise Inventory 7. Every transaction recorded in the cash payments journal includes a a. credit to Cash. c. debit to Sales Discounts. b. debit to Accounts Receivable. d. debit to Cash. 8. When using a manual accounting information system, which of the following trans- actions would be recorded in the general journal? a. Depreciation of office furniture b. Cash payment of rent c. Sale of merchandise inventory on account d. Purchase of merchandise inventory on account 9. Which is a disadvantage of an enterprise resource planning (ERP) system? a. Helps companies adjust to changes b. Can replace separate software systems c. Can reduce operating costs d. Implementation requires a large commitment of time and people
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
100%
6,7,8, and 9. Thank you!
Transcribed Image Text:Accounting Information Systems 405
6. Centex Sound Systems purchased merchandise inventory costing $8,000 from Flower
Co. on account. Where should Centex record this transaction, and what account is
credited?
Learning Objective 3
a. Cash payments journal; credit Cash
b. Sales journal; credit Sales Revenue
c. Purchases journal; credit Accounts Payable
d. General journal; credit Merchandise Inventory
7. Every transaction recorded in the cash payments journal includes a
Learning Objective 3
a. credit to Cash.
c. debit to Sales Discounts.
b. debit to Accounts Receivable.
d. debit to Cash.
8. When using a manual accounting information system, which of the following trans-
actions would be recorded in the general journal?
Learning Objective 3
a. Depreciation of office furniture
b. Cash payment of rent
c. Sale of merchandise inventory on account
d. Purchase of merchandise inventory on account
Learning Objective 4
9. Which is a disadvantage of an enterprise resource planning (ERP) system?
a. Helps companies adjust to changes
b. Can replace separate
c. Can reduce operating costs
software
systems
d. Implementation requires a large commitment of time and people
Check your answers at the end of the chapter.
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