Sorry, I didn't see I have to send you the EX 6-3 to complete EX 6-4. Like I said before only EX 6-4 please and thank you! 18. ThisIn this situatidWhat does hi85otisUse the graph to answerThe end behavmpte334Chapter 6 Inventonesthe appropriate piece from the store's stockroom. Because all salesclerks need access estockroom, it is not locked. The stockroom is adjacent to the break room used by al heemployees.C. Whenever Hardcase receives a shipment of new inventory, the items are taken directly tostockroom. Hardcase's accountant uses the vendor's invoice to record the amount of inventereceived.State whether each of these procedures is appropriate or inappropriate. If it is inanpropriate, state why.EX 6-3 Perpetual inventory using FIFOBeginning inventory, purchases, and sales data for DVD players are as follows:Obj. 2, 3V Inventory balance,November 30, 57,480Nov.1Inventory120 units at $3910Sale90 units15Purchase140 units at $40SD ME HOW20Sale110 units24Sale45 units30Purchase160 units at $43The business maintains a perpetual inventory system, costing by the first-in, first-out method.a. Determine the cost of goods sold for each sale and the inventory balance after each sale.presenting the data in the form illustrated in Exhibit 3.b. Based upon the preceding data, would you expect the inventory to be higher or lower usingthe last-in, first-out method?V Inventory balance,November 30, $7,465EX 6-4 Perpetual inventory using LIFOAssume that the business in Exercise 6-3 maintains a perpetual inventory system, costing bythe last-in, first-out method. Determine the cost of goods sold for each sale and the inventorybalance after each sale, presenting the data in the form illustrated in Exhibit 4.Obj. 2, 3(X)SHOW ME HOWEXCEL TEMPLATEEX 6-5 Perpetual inventory using LIFOVInventory balance,BeginningObj. 2, 3

Using LIFO method, the newer units are sold first and older units are left in the stock.

Answered: sing LIFO kercise 6-3 maintains a…

Accounting Information Systems

10th Edition

ISBN:9781337619202

Author:Hall, James A.

Publisher:Hall, James A.

Chapter3: Ethics, Fraud, And Internal Control

Section: Chapter Questions

Problem 13P

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Problem 1. - Expenditure Cycle Walker Books, Inc. (Manual System withMinimal PC Support) Purchases System The purchases process begins with the purchasing agent, who monitors the levels of books available via a computer terminal listing current inventory. Upon noticing deficiencies in inventory levels, the agent manually generates four hard copies of a purchase order: one is sent to accounts payable, one is sent to the vendor, one is sent to the receiving department, and the last is filed within the department. Vendors will generally ship the products within five business days of the order. When goods arrive in the receiving department, the corresponding packing slip always accompanies them. The receiving department clerk unloads the goods and then reconciles the packing slip with the purchase order. After unloading the goods, the clerk manually prepares three hard copies of the receiving report. One copy goes with the goods to the warehouse, another is sent to the purchasing…
Case analysis 2 FTW corporation sells computer peripherals and related devices, such as printers, ink, flash drives and cables. FTW has a staff of three purchasing agents, each of whom oversees a specific set of inventory items. Each purchasing agent uses his/her discretion in making decisions about when to order inventory, how much inventory to order, and which vendor to purchase from. When ordered inventory arrives at FTW, one of two receiving clerks matches the items, quantities, and vendors against a copy of the purchase order, then either stocks the merchandise on the shelves or puts it in the storeroom. FTW's accountant receives a copy of the invoice from the vendor, as well as an e-mail from one of the receiving clerks indicating that merchandise has been received. The e-mail also includes the relevant purchase order number. The accountant files the invoice by date in a filing cabinet; once a week, the accountant removes invoices from the filing cabinet and pats them by…
Attending the Inventory count • • • • • • On the day of the inventory count, you attended site 4 at Carosel. You observed the following activities: Pre-numbered count sheets were being issued to the client's staff carrying out the count. The count sheets showed the inventory ledger balances for checking against physicalinventory. All count staff were drawn from the inventory warehouse and were counting in teams of two. Three counting teams were allocated to each area of the stores to count, although the teams were allowed to decide which pair of staff counted which inventory within each area. Staff were warned that they had to remember which inventory had been counted. Information was recorded on the count sheets in pencil so amendments could be made easily as required. Any inventory not located on the pre-numbered inventory sheets was recorded on separate inventory sheets-numbered by staff as they were used. At the end of the count, all count sheets were collected and the numeric…
A company is trying to set up proper internal controls for their accounts payable/inventory purchasing system. Currently the purchase order is generated by the same person who receives the inventory. Together the purchase order and the receiving ticket are sent to accounts payable for payment. What changes would you make to improve the internal control structure? Group of answer choices 1.The person in accounts payable should generate the purchase order. 2.The person in accounts payable should generate the receiving ticket once the invoice from the supplier is received. 3.No changes would be made since the person paying the bills is different from the person ordering the inventory. 4.The responsibilities of generating the purchase order and receiving the inventory should be separated among two different people.
Subject accouting information system please solve all questions
Sawicki Music Supply is a mail-order business that accepts merchandise orders by telephone and mail. All payments must be prepaid with a major credit card. Once an order is received, either the item is found in inventory and shipped immediately, the item is not found in inventory and is ordered from the manufacturer, or a notice is sent to the customer indicating that the item is no longer stocked. Required Prepare a context, intermediate, and elementary-level data flow diagram for Sawicki Music Supply. For the elementary-level diagram, explode the inventory function.
Given the following business rules, construct an ER diagram so each rule is captured for the database. Presume each rule is to be treated individually. Construct an ER diagram for each rule.a. A retail sales company prepares sales orders for its customers’ purchases. A customer can make many purchases, but a sales order is written for a single customer.b. A retail sales company orders inventory using a purchase order. An inventory item may be ordered many times, and a purchase order may be created for more than one inventory item.c. A company that sells antique cars prepares a sales order for each car sold. The inventory for this company consists of unique automobiles, and only one of these automobiles may be listed on a sales order.d. A grocery store identifies returning customers via a plastic card that the clerk scans at the time of each purchase. The purpose of this card is to track inventory and to maintain a database of customers and their purchases. Obviously, a customer may…
Required: A sales invoice typically includes the date of sale, salesperson, customer data, items included in the sale, and amount. Which foreign keys should be added to the following table to link all of these data elements? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) Sales Table Invoice# Date Amount S-101 10/05/2021 2549.90 S-105 11/01/2021 949.95 S-107 11/02/2021 1209.70 S-108 11/06/2021 699.90 ?Salesperson # ? Customer # ? Receipt # ? Inventory # ? Remittance Advice # ? Sales # ?Cashier # ?Cash
Answer the following questionsYou were hired to assist Oman based Company in designing an accounting system for Oman Co., Ltd. has developed a list of the journals, ledgers, reports and documents that he thinks Oman Co., Ltd. The company asks you to complete the following tasks:a) Specify what data you think should be collected on each of the following four documents: Sales invoice, purchase order, receiving report, employee time card.b) Design a report to manage inventory.
All problems can be completed manually or by using either MyAccountingLab General Ledger or QuickBooks. Using the sales, cash receipts, and general journals Assume Peaceful Spring Company uses the perpetual inventory system. The general ledger of Peaceful Springs Company includes the Following selected accounts, along with their account numbers: Sales and cash receipts transactions in November were as follows: Requirements Use the appropriate journal to record the preceding transactions in a sales journal (omit the Invoice No. column) and a cash receipts journal (omit the Sales Discounts Forfeited column). Total each column of the sales journal and the cash receipts journal. Determine that total debits equal total credits. Show how postings would be made from the journals by writing the account numbers and check marks in the appropriate places in the journals.
NTERNAL CONTROLThe following is a description of manufacturing com-pany’s purchasing procedures. All computers in the com-pany are networked to a centralized accounting system sothat each terminal has full access to a common database.The inventory control clerk periodically checks in-ventory levels from a computer terminal to identifyitems that need to be ordered. Once the clerk feels in-ventory is too low, he chooses a supplier and creates apurchase order from the terminal by adding a record tothe purchase order file. The clerk prints a hard copy ofthe purchase order and mails it to the vendor. An elec-tronic notification is also sent to accounts payable andreceiving, giving the clerks of each department accessto the purchase order from their respective terminals.When the raw materials arrive at the unloading dock,a receiving clerk prints a copy of the purchase orderfrom his terminal and reconciles it to the packing slip.The clerk then creates a receiving report on a computersystem.…
OLTP VERSUS OLAP SERVERS For each of the following processes, state whether OLTP or OLAP is appropriate, and why. An order entry system that retrieves customer information, invoice information, and inventory information for local sales. An order entry system that retrieves customer information, invoice information, inventory information, and several years of sales information about both the customer and the inventory items. An order entry system that retrieves customer information, invoice information, inventory information, and information to compare the current sale to sales across several geographic regions. An order entry system that retrieves customer information, invoice information, inventory information, and accounts receivable information for sales within one marketing region. An insurance company requires a system that will allow it to determine total claims by region, whether a relationship exists between claims and meteorological phenomena, and why one region seems to be…

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sing LIFO kercise 6-3 maintains a perpetual inventory system, costing by etermine the cost of goods sold for each sale and the inventory ting the data in the form illustrated in Exhibit 4. Obj. 2, 3