Accounting Information Systems
Accounting Information Systems
11th Edition
ISBN: 9781337676557
Author: Ulric J. Gelinas; Richard B. Dull; Patrick Wheeler
Publisher: Cengage Learning US
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Chapter 16, Problem 3RQ
Summary Introduction

To explain: The fundamental duties of each position or departments.

Introduction:

General ledger/business reporting process (GL/BR):

General ledger can be defined as the central data repository needed to develop the business reports. The business reports and other forms of information generation are all derived from the general ledger data repository. The GL/BR process is considered as a central activity of the accounting information systems.

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question 1. Toodles Inc. had sales of $1,840,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $1,180,000, $185,000 and $365,000 respectively. In addition, the company had an interest expense of $280,000 and a tax rate of 35 percent. (Ignore any tax loss carry-back or carry-forward provisions.)Arrange the financial information for Toodles Inc. in an income statement and compute its OCF?Question 2 Anti-Pandemic Pharma Co. Ltd. reports the following information in its income statement: Sales = $5,250,000;Costs = $2, 173,000;Other expenses = $187,400; Depreciation expense = $79,000; Interest expense= $53,555; Taxes = $76,000; Dividends = $69,000. $136,700 worth of new shares were also issued during the year and long-term debt worth $65,300 was redeemed.a) Compute the cash flow from assetsb) Compute the net change in working capitalQuestion 3Footfall Manufacturing Ltd. reports the following financial information at the end of the current year:…
Accrued Interest PayableCompute the interest for December accrued on each of the following notes payable owed by Riff-Raff'n Yell Inc., on December 31: Day of Calendar: 1 Lender: New Age Principal: $10,000 Interest Rate: 5% Term (Days) 120   Day of Calendar: 8 Lender: Wyvern Tavern Principal: $8,000 Interest Rate: 6% Term (Days) 90   Day of Calendar: 17 Lender: Cedar Tree Principal: $15,000 Interest Rate: 4% Term (Days) 90   Note: Use 360 days for calculations and round to the nearest dollar.   Riff-Raff'n Yell, Inc.   Lender (in alphabetical order) Accrued Interest   Cedar Tree Answer 1   New Age Answer 2   Wyvern Tavern Answer 3
Question Footfall afacturing pers The following fancial information at the end of the current years Inventory turnover ratio Fixed accetturnover ratio bot to assets ratia set profit ang ross profit margin the given information to fill at the templates for income statement and balance sheet geb In Statement of Footfall Manufacturing Ltd. for the year ending RELEASED BY THE CL MOME2003, FEBRUARY 9, 3005 Sales December 31, 20 Cast of other expec Earnings befo Camings after
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