For each of the following records, indicate the appropriate related file structure: master file, transaction file, reference file, or archive file customer ledgers purchase orders list of authorized vendors records related to prior pay periods vendor ledgers hours each employee has worked during the current pay period tax tables sales orders that have been processed and recorded

Q: What is the process of transferring the debits and credits from the journal entries to the accounts…

A: Journal entry is the primary recording of business transactions. Every transaction has debit and…

Q: Which of the following documents will only be used for internal purposes? Deposit Slip Bill of…

A: Question-     WHICH OF THE FOLLOWING DOCUMENT WILL  BE USED FOR INTERNAL PURPOSE -   - PURHCASE…

Q: returns some merchandise that had been purchased on account (accounts receivable), NetSolutions will…

A: when ever the goods are sold and purchased different type of document that are issued by the buyer…

Q: A. What document is used to create the Sales Order in the Revenue Cycle and where does itcome from?…

A: Answer a: Sales order is created by using a document formed by SAP.

Q: Most of the accounting cycles have journal entries that accompany activities of each cycle.Which of…

A: Recording transaction in journal is termed as journalizing the entries. Transaction are first…

Q: Most of the accounting cycles have journal entries that accompany the activities of each cycle.…

A: A process of identifying a transaction, analyzing it and then recording the same in the books is…

Q: Which document would be used to support the recording of  a sale on account?   Question 49 options:…

A: Invoices or bills are used to record the credit transactions related to purchases and sales.

Q: INSTRUCTIONS 1. Record the transactions in the proper journal. Use 7 as the page number for the…

A: The account receivable ledger is a sub ledger in which is recorded all credit sales made by a…

Q: In Quickbooks, for a purchase on account and the subsequent payment for the purchase, which business…

A: To require: In Quickbooks, for a purchase on account and the subsequent payment for the purchase,…

Q: Custom fields can be created ____________________. Select all that apply. Select one or more: A. on…

A: Custom fields helps in tracking the information that is most important for the business and…

Q: In the revenue cycle (for sales on credit), a customer places an order for a certain product. Which…

A: Every time an order is received by an organisation, there is whole set of process that needs to be…

Q: Describe the flow of data in the purchasing process that is initiated when the purchasing…

A: Purchasing process refers to the process of procurement of goods or inventory. It starts with the…

Q: The subsidiary ledger that includes customer account activity is called the a. asset ledger b.…

A: Under subsidiary ledger, all activities related to customer is recorded.

Q: For each of the following processes, state whether OLTP or OLAP is appropriate and why.a. An order…

A: Meaning OLTP & OLAP OLAP means Online Analytical Processsing and OLTP means Online Transaction…

Q: Describe the nature of the following documents and records andexplain their use in the sales and…

A: Bill of lading: Bill of lading refers to the written contract between the carrier and the seller for…

Q: Describe a walkthrough of a production transaction from receiving production orders to making an…

A: The auditor will conduct a walkthrough by talking to the employees of the organization regarding…

Q: Prepare a trial balance for the selected general ledger accounts and prove the accuracy of…

A: Trial Balance -:A trial balance is a simple schedule of all the common ledger accounts (both income…

Q: When preparing the invoices, the prices come from the A. packing slips B. shipping notices C.…

A: Answer: Invoice is one of the most important document to identify the actual sales or purchases…

Q: The functions of and documents generated by which of the below departments determine when a…

A: Lets understand the basics. In organization, there are various department which are inter connected…

Q: Post the Journal Entries to the General Ledger and Subsidiary Ledgers. Amounts to the Accounts…

A: A general ledger is an account in which the total of all accounts are posted and the total of this…

Q: Inputs to the entire order-to-cash process (revenue cycle) normally could include all of the…

A: Revenue cycle is the process by which the company records the selling of goods and service to the…

Q: ich the following onscreen Vendors and Expenses transaction forms typically should be prepared.…

A: The payments are done to the vendors in the order bills and invoices are received and they are paid…

Q: stions displayed below.] Clopack Company manufactures one product that goes through one processing…

A: Solution: Amount of overhead cost applied to production = Debit to work in process for overhead =…

Q: labor time tickets material requisitions

A: Work in process inventory is the amount of inventory that has started into production but has not…

Q: Journalize these transactions of september assuimg the perpetual inventory system is being used…

A: Methods of Inventory System: 1. Periodic Inventory System                  2. Perpetual Inventory…

Q: In a good internal control​ system, which of the following sets of documents is required for proper…

A: Solution: In a good internal control system, for approval of payment we should do 3 way matching…

Q: Required: 1. Prepare the journal entries to record the raw materials used in production and the…

A: Answer: Explanation: 1 The raw materials used in production during June were $151,100, as given in…

Q: The Accounts Receivable subsidiary ledger is updated (increased and decreased) by using which of the…

A: Accounts Receivables - Accounts Receivables are the amount unpaid by the customer for the service…

Q: For each of the following processes, state whether OLTP or OLAP is appropriate, and why. a. An…

A:

Q: During the year 2020, there were no recoveries of accounts previously written off. Only one account,…

A: Accounts receivable (AR) is the amount owed to a company for goods or services delivered or used but…

Q: 1. Please explain whether the item is an example of IPE from a transaction process, and 2. Please…

A: IPE from a transaction process: IPE is short for Information Produced by the Entity. It can be…

Q: Linzee Liners estimates that its manufacturing overhead will be $1,761,800 in Year 1. It further…

A: The overhead is applied to the production on the basis of the pre-determined overhead rate. The over…

Q: What are the five key steps to applying the revenue recognition principle? What are indicators that…

A: Under what circumstances can sellers recognize revenue over time?606-10-05-4 An entity recognizes…

Q: TASK 3: Long-Term Planning Scenario: The company is planning to launch a new model of a garage door…

A: Initial Investments:Capital Investment = $500,000SG&A = $100,000Total Initial Investments =…

Q: Exercise 7-37 (Algo) Prorate Over- or Underapplied Overhead (LO 7-3) Marian Manufacturing (2M)…

A: The overhead is applied to the production on the basis of a pre-determined overhead rate. The…

Q: Which of the following should be done first when a customer order is received? Pull the items from…

A: There are various steps in the management of customer order fulfilment. Customer satisfaction should…

Q: Describe the data flow in the buying process that begins when the purchasing organization sends a…

A: The Answer:

Q: What is the process of recording a transaction in the journal called? Group of answer choices…

A: Journal entries are considered the basic method for recording financial transactions in the books of…

Management Information Systems

While undertaking any business decisions, data is the most important aspect. An information system (IS) is a set of data, computing devices and management methods that support routine company operations. A management information system (MIS) is a specific subset of IS.