会计学原理19版练习答案：Chapter_07_Accounting Information Systems

1、Chapter 7Accounting Information SystemsQUESTIONS 1.The five fundamental principles of accounting information systems are: (a) control principle, (b) relevance principle, (c) compatibility principle, (d) flexibility principle, and (e) cost-benefit principle. 2.The five components of an accounting sys

2、tem are: source documents, input devices, information processors, information storage, and output devices. 3.Source documents contain data about business transactions or events that are put into the accounting system and processed. Examples of source documents are invoices from suppliers, checks rec

3、eived from customers, and payroll forms filled out by employees. 4.An input device is used to transfer data from source documents to the information processor(s). Examples of input devices for computer systems include keyboards, scanners, and bar-code readers. 5.Data stored off-line are not immediat

4、ely available to the information processor(s), while online data are immediately available. 6.Output devices provide the means by which information is taken from the accounting system and made available for use. 7.Four types of transactions usually recorded in special journals are: (a) sales on cred

5、it, (b) purchases on credit, (c) cash receipts, and (d) cash disbursements. 8.The (a) initial and (b) page number of the journal from which the amount is posted is entered in the Posting Reference column of the ledger account. 9.The double posting does not cause the trial balance to be out of balanc

6、e because only one credit is posted to the general ledgerthe subsidiary ledger posting and its balances are not part of a trial balance (they give details of general ledger accounts).10. When copies of the sales invoices are used as a sales journal, each invoice total is posted to the proper custome

7、r account in the subsidiary Accounts Receivable Ledger, after which the invoices are bound in numerical order. Then at the end of the period the bound invoice copies are totaled and the total is debited to Accounts Receivable and credited to Sales. This method is called direct posting of sales invoi

8、ces.11. Both kinds of credits must not be placed in the same column because the sum of the credits to the customer accounts must be posted to the Accounts Receivable controlling account (the Other Accounts column total is not postedinstead, each amount is individually posted to its general ledger ac

9、count). Placing these credits in separate columns makes it possible to post the Accounts Receivable column total to its controlling account.12. Immediate recording and posting of credit sales and cash receipts from customers provides up-to-date information for use in decisions about granting credit

10、to customers. Also, up-to-date account balances are needed if customers inquire about their balances.13. In its note 11, Best Buy discusses its two reportable segments, Domestic and International. Domestic is by far the larger of the two segments. 14. No. Information regarding the net income earned

11、by business segments is not found on Circuit Citys Consolidated Statement of Operations (Income Statement). However, notes to its financial statements (not reproduced in Appendix A) include the information regarding business segments, domestic and international. 15. RadioShacks two reportable segmen

12、ts are company-operated stores and kiosks.16. No. Information regarding any assets owned by Apples business segments is not reported on the balance sheet. However, the information is detailed in the notes to its financial statements (not reproduced in Appendix A).QUICK STUDIESQuick Study 7-1 (10 min

13、utes)1.C4.B2.E5.D3.AQuick Study 7-2 (5 minutes)1. work3.scanner4.enterprise resource planningQuick Study 7-3 (15 minutes)1.B 7.B2.B 8.E3.A 9.E4.D10.E5.B11.A6.D12.CQuick Study 7-4 (10 minutes)a.Cash Receipts Journalb.Purchases Journalc.Cash Disbursements Journald.Cash Disbursements Journal e.Sales Jo

14、urnalf.Purchases Journalg.Cash Disbursements Journalh.Cash Receipts JournalQuick Study 7-5 (15 minutes)General JournalNov. 2In Purchases JournalNov. 12Automobiles. 17,000 R. Adrian, Capital.17,000 Owner contributed an auto to the business.Nov. 16In Sales JournalNov. 19Sales Returns and Allowances.17

15、5 Accounts ReceivableL. Norton.175 Customer returned (worthless) merchandise.Quick Study 7-6 (15 minutes)SegmentSegment IncomeAverage Segment AssetsSegment return on AssetsAmericas.$1,665$800208.1%Europe.607380159.7Japan.201173116.2Interpretation: The Americas segment reports the highest return on s

16、egment assets. However, each of its other segments has a relatively high return on segment assets as well.ProductProduct SalesPercent of Total SalesiPod .$ 7,676 45.3%Desktops.3,319 19.6Portables.4,056 23.9Other. 1,88511.1Total.$16,93699.9%*0.1% rounding errorInterpretation: Sales of Apples iPod mak

17、e up its largest percentage of total individual product sales. Desktops and “Other” make up the smallest percentage of total product sales. EXERCISESExercise 7-1 (15 minutes)SALES JOURNALDateAccount DebitedInvoiceNumberPRAccounts Receivable Dr.Sales Cr.Cost of Goods Sold Dr. Inventory Cr.Mar. 7K. An

18、klam.57041,7001,21512B. Swanson.5705 48430325F. Sayers .5706785500Exercise 7-2 (10 minutes)Mar. 2Cash Receipts Journal5Purchases Journal7Sales Journal8Cash Receipts Journal12Sales Journal16Cash Receipts Journal19Cash Receipts Journal25Sales JournalExercise 7-3A (15 minutes)SALES JOURNALDateAccount D

19、ebitedInvoiceNumberPRAccounts Receivable Dr.Sales Cr.Mar. 7K. Anklam.57041,70012B. Swanson.5705 48425F. Sayers .5706785Exercise 7-4 (20 minutes)CASH RECEIPTS JOURNALDateAccount CreditedExplanationPRCash Dr.SalesDiscountDr. Accounts Recble. Cr.Sales Cr.Other Accounts Cr.Cost of Goods Sold Dr. Invento

20、ry Cr.Nov. 9 Notes Payable.Note to bank3,3753,37513 I. Uno, Capital.Contribution4,6754,675 18 Sales.Cash sale261261147 27 E. Han.Invoice, 11/7995201,015Exercise 7-5 (10 minutes)Nov. 3Purchases Journal7Sales Journal9Cash Receipts Journal13Cash Receipts Journal18Cash Receipts Journal22Cash Disbursemen

21、ts Journal27Cash Receipts Journal30Cash Disbursements JournalExercise 7-6A (25 minutes)CASH RECEIPTS JOURNALDateAccountCreditedExplanationPRCash Dr.SalesDiscountDr.Accts.Rec.Cr.SalesCr.OtherAccountsCr.Nov. 9Notes Payable.Note to bank3,3753,37513I. Uno, Capital.Contribution4,6754,67518Sales.Cash sale

22、26126127E. Han.Invoice, 11/7995201,015Exercise 7-7 (20 minutes)PURCHASES JOURNALDateAccount Date of InvoiceTermsPR Accounts Payable Cr.Inventory Dr. Office Supplies Dr. Other Accounts Dr.June 1Krause, Inc.6/01n/305,4005,40014Store Supplies/ Chang Co.6/14n/3046046017Monder Company.6/17n/30480480Exerc

23、ise 7-8 (10 minutes)June 1Purchases Journal8Sales Journal14Purchases Journal17Purchases Journal24Cash Receipts Journal28Cash Disbursements Journal29Cash Disbursements JournalExercise 7-9A (20 minutes)PURCHASES JOURNALDateAccount Date of InvoiceTermsPR Accounts Payable Cr. Purchases Dr. Office Suppli

24、es Dr. Other Accounts Dr.June 1Krause, Inc.6/01n/305,4005,40014Store Supplies/ Chang Co.6/14n/3046046017Monder Company.6/17n/30480480Exercise 7-10 (25 minutes)CASH DISBURSEMENTS JOURNALDateCk.No.PayeeAccount DebitedPRCashCr.InventoryCr.Other AccountsDr.AccountsPayableDr.Apr. 9210Major Corp.Store Sup

25、plies.43643617211City Bank.Notes Payable.1,5001,50028212Factow.Factow.3,267333,30029213M. Robbins.Salaries Expense.1,6751,67530214Acco, Inc.Acco, Inc.2,7002,700Exercise 7-11 (10 minutes)April 3Purchases Journal9Cash Disbursements Journal12Sales Journal17Cash Disbursements Journal20Purchases Journal2

26、8Cash Disbursements Journal29Cash Disbursements Journal30Cash Disbursements JournalExercise 7-12A (25 minutes)CASH DISBURSEMENTS JOURNALDateCk.No.PayeeAccount DebitedPRCashCr.Purchases DiscountsCr.Other AccountsDr.AccountsPayableDr.Apr. 9210Major Corp.Store Supplies.43643617211City Bank.Notes Payabl

27、e.1,5001,50028212Factow.Factow.3,267333,30029213M. Robbins.Salaries Expense.1,6751,67530214Acco, Inc.Acco, Inc.2,7002,700Exercise 7-13 (10 minutes)a.(i) The June 5 purchase would be recorded in the Purchases Journal.(ii)The June 14 payment would be recorded in the Cash Disbursements Journal. b.The e

28、rror in journalizing the June 14 transaction should be discovered in the process of crossfooting the Cash Disbursements Journal.Exercise 7-14 (30 minutes) Part 1ACCOUNTS RECEIVABLE SUBSIDIARY LEDGERAnna PageSara ReedAaron ReckersMay 171,161 May 20500May 102,610May 63,55025464Part 2GENERAL LEDGERAcco

29、unts ReceivableSalesSales Returns and AllowancesMay 317,785May 20500May 317,785May 20500InventoryCost of Goods SoldMay 31 5,805May 315,805Part 3RIVER VIEWSchedule of Accounts ReceivableMay 31Anna Page . $ 661Sara Reed .3,074Aaron Reckers. 3,550Total accounts receivable. $7,285Accounts Receivable Con

30、trolling AccountTotal debit. $7,785Credit for return . (500)Balance as of May 31. $7,285Exercise 7-15 (30 minutes)Part 1ACCOUNTS RECEIVABLE LEDGEREric HornerHong JiangJune 86,929June 1423,329Joe MackTess WilsonJune 24,100June 1015,252297,4322011,400Part 2GENERAL LEDGERAccounts ReceivableSalesJune 30

31、68,442June 3068,442Part 3BOYAR COMPANYSchedule of Accounts ReceivableJune 30Eric Horner.$ 6,929Hong Jiang. 23,329Joe Mack . 11,532Tess Wilson. 26,652Total accounts receivable.$68,442Exercise 7-16 (10 minutes)1.When the schedule of accounts payable is prepared.2.When crossfooting the Purchases Journa

32、l.3.When the trial balance is prepared.4.When the schedule of accounts payable is prepared.5.When the schedule of accounts payable is prepared.Exercise 7-17 (20 minutes)Segment Income (in $ mil.)Segment Assets(in $ mil.)Segment Return on AssetsSegment20092008200920082009 SpecialtySkiing Group . $ 53

33、$ 47$ 539$ 39811.3%Skating Group.7448 3516.9%Specialty Footwear.18 15143 106 14.5%Other Specialty . 9 3 32 2332.7%Subtotal .8769762562General MerchandiseSouth America .262928120710.7%United States.6645 3315.4%Europe . 4 2 15 1130.8%Subtotal . 36 37 341 251Total . $123$106$1,103$ 813Analysis and inte

34、rpretation: This company shows solid profitability in all segments based on segment return on assets.For the specialty segments, the “Other Specialty” has the highest segment return on assets at 32.7% in 2009, whereas the skiing segment has the lowest return on segment assets at 11.3%.For the geogra

35、phic segments, the highest segment return on assets is produced by the European segment with 30.8% in 2009, whereas the South American segment has the lowest return of 10.7%.PROBLEM SET AProblem 7-1A (70 minutes)Parts 1, 2 and 3SALES JOURNALPage 3DateAccount DebitedInvoiceNumberPRAccounts Receivable

36、 Dr.Sales Cr.Cost of Goods Sold Dr. Inventory Cr.Apr. 3 Ty Afton.760 5,2002,1005Debra Kohn.761 9,3007,60011Pat Orlof.762 12,3007,30013Ty Afton.763 6,9003,60027Debra Kohn.764 3,4602,47027Pat Orlof.765 7,100 4,89530Totals.44,26027,965(106/413) (502/119)CASH RECEIPTS JOURNAL Page 3DateAccount CreditedE

37、xplanationPRCashDr.SalesDiscount Dr.AccountsReceivableCr.Sales Cr.Other Accts.Cr.Cost of Goods Sold Dr. Inventory Cr.Apr.13Ty Afton.Sale of 4/3 5,0961045,20014Debra Kohn.Sale of 4/5 9,1141869,30016Sales.Cash Sales 54,24054,24042,40018L.T. Notes Payable.Note to bank25155,00055,00020Pat Orlof.Sale of

38、4/11 12,05424612,30023Ty Afton.Sale of 4/13 6,7621386,90030Sales.Cash sales 72,100_ 72,100_ 61,50030Totals. 214,36667433,700126,34055,000103,900(101)(415)(106)(413)( )(502/119)Problem 7-1A (Continued)Parts 2 and 3GENERAL LEDGER CashAcct. No. 101DateExplanationPRDebitCreditBalanceMar. 3185,000Apr. 30

39、R3214,366299,366Accounts ReceivableAcct. No. 106DateExplanationPRDebitCreditBalanceApr. 30S344,26044,26030R333,70010,560InventoryAcct. No. 119DateExplanationPRDebitCreditBalanceMar. 31152,000Apr. 30S327,965124,03530R3103,900 20,135 Long-Term Notes PayableAcct. No. 251DateExplanationPRDebitCreditBala

40、nceMar. 31137,000Apr. 18R355,000192,000 B. Moore, CapitalAcct. No. 301DateExplanationPRDebitCreditBalanceMar. 31100,000 SalesAcct. No. 413DateExplanationPRDebitCreditBalanceApr. 30S344,26044,26030R3126,340170,600 Sales DiscountsAcct. No. 415DateExplanationPRDebitCreditBalanceApr. 30R3674674 Cost of

41、Goods SoldAcct. No. 502DateExplanationPRDebitCreditBalanceApr. 30S327,96527,96530R3103,900131,865Problem 7-1A (Continued)Parts 2 and 3 (continued)ACCOUNTS RECEIVABLE LEDGER Ty AftonDateExplanationPRDebitCreditBalanceApr. 3S35,2005,20013R35,200013S36,9006,90023R36,9000 Debra KohnDateExplanationPRDebi

42、tCreditBalanceApr. 5S39,3009,30014R39,300027S33,4603,460 Pat OrlofDateExplanationPRDebitCreditBalanceApr. 11S312,30012,30020R312,300027S37,1007,100Part 4MOORE COMPANYTrial BalanceApril 30 Debit CreditCash.$299,366Accounts receivable.10,560Inventory.20,135Long-term notes payable.$192,000B. Moore, Cap

43、ital .100,000Sales .170,600Sales discounts . 674Cost of goods sold . 131,865_Totals .$462,600$462,600Problem 7-1A (Concluded)Part 4 (continued)MOORE COMPANYSchedule of Accounts ReceivableApril 30Debra Kohn. $ 3,460Pat Orlof. 7,100Total accounts receivable . $10,560Part 5Analysis componentTo find the

44、 error(s), first re-add the account balances on the schedule of accounts receivable to confirm that the addition is correct. Then, trace the balances listed on the schedule of accounts receivable back to the subsidiary accounts to confirm that they are listed correctly on the schedule. Next, recalcu

45、late the balance of each subsidiary account to confirm that the additions and subtractions are correct. Next, trace the postings from each subsidiary account and from the controlling account back to the appropriate journals. Since the sales and cash receipts journals were footed and crossfooted befo

46、re posting, the previous steps should disclose the error.Problem 7-2AA (70 minutes)Parts 1 and 2 SALES JOURNALPage 3DateAccount DebitedInvoice NumberPRAccounts Receivable Dr.Sales Cr.Apr. 3Ty Afton.760 5,2005Debra Kohn.761 9,30011Pat Orlof.762 12,30013Ty Afton.763 6,90027Debra Kohn.764 3,46027Pat Or

47、lof.765 7,10030Total.44,260(106/413) CASH RECEIPTS JOURNALPage 3DateAccount CreditedExplanationPRCash Dr.SalesDiscountsDr.Accounts Receivable Cr.Sales Cr.Other Accounts Cr.Apr. 13Ty Afton.Sale of 4/3 5,0961045,20014Debra Kohn.Sale of 4/5 9,1141869,30016Sales.Cash Sales 54,24054,24018L.T. Notes Payab

48、le.Note to bank25155,00055,00020Pat Orlof.Sale of 4/11 12,05424612,30023Ty Afton.Sale of 4/13 6,7621386,90030Sales.Cash sales 72,100_72,100_30Totals.214,36667433,700126,34055,000(101)(415)(106)(413)( )Problem 7- 2AA (Continued)Parts 2 and 3GENERAL LEDGER CashAcct. No. 101DateExplanationPRDebitCredit

49、BalanceMar. 3185,000Apr. 30R3214,366299,366Accounts ReceivableAcct. No. 106DateExplanationPRDebitCreditBalanceApr. 30S344,26044,26030R333,70010,560InventoryAcct. No. 119DateExplanationPRDebitCreditBalanceMar. 31152,000 Long-Term Notes PayableAcct. No. 251DateExplanationPRDebitCreditBalanceMar. 31137

50、,000Apr. 18R355,000192,000 B. Moore, CapitalAcct. No. 301DateExplanationPRDebitCreditBalanceMar. 31100,000 SalesAcct. No. 413DateExplanationPRDebitCreditBalanceApr. 30S344,260 44,26030R3126,340170,600 Sales DiscountsAcct. No. 415DateExplanationPRDebitCreditBalanceApr. 30R3674674Problem 7- 2AA (Conti

51、nued)Parts 2 and 3continuedACCOUNTS RECEIVABLE LEDGER Ty AftonDateExplanationPRDebitCreditBalanceApr. 3S35,2005,20013R35,200013S36,9006,90023R36,9000 Debra KohnDateExplanationPRDebitCreditBalanceApr. 5S39,3009,30014R39,300027S33,4603,460 Pat OrlofDateExplanationPRDebitCreditBalanceApr. 11S312,30012,

52、30020R312,300027S37,1007,100Part 4MOORE COMPANYTrial BalanceApril 30 Debit CreditCash .$299,366Accounts receivable.10,560Inventory.152,000Long-term notes payable .$192,000B. Moore, Capital.100,000Sales.170,600Sales discounts. 674_Totals.$462,600$462,600Problem 7- 2AA (Concluded)Part 4continuedMOORE

53、COMPANYSchedule of Accounts ReceivableApril 30Debra Kohn. $ 3,460Pat Orlof. 7,100Total accounts receivable . $10,560Part 5Analysis componentTo find the error(s), first re-add the account balances on the schedule of accounts receivable to confirm that the addition is correct. Then, trace the balances

54、 listed on the schedule of accounts receivable back to the subsidiary accounts to confirm that they are listed correctly on the schedule. Next, recalculate the balance of each subsidiary account to confirm that the additions and subtractions are correct. Next, trace the postings from each subsidiary

55、 account and from the controlling account back to the appropriate journals. Since the sales and cash receipts journals were footed and crossfooted before posting, the previous steps should disclose the error.Problem 7-3A (120 minutes)Parts 1 and 3PURCHASES JOURNALPage 3DateAccountDate ofInvoiceTerms

56、PRAccountsPayableCr.InventoryDr.OfficeSuppliesDr.OtherAccountsDr.Apr. 2Newt Company.4/22/10, n/60 14,20014,2003Office Supplies/Cray Inc.4/2n/10, EOM 1,5301,5309Store Equip./Hafman Supply.4/9n/10, EOM165/ 11,43511,43517Dann Company.4/172/10, n/30 12,85012,85020Store Supp./Hafman Supply.4/19n/10, EOM1

57、25/ 1,0001,00025Newt Company.4/242/10, n/60 11,46511,465 _30Totals.52,48038,5151,53012,435(201)(119)(124)( )CASH DISBURSEMENTS JOURNALPage 3DateCk.No.PayeeAccount DebitedPRCashCr.Inventory Cr.OtherAccountsDr.Accounts PayableDr.Apr. 4587World View.Advertising Expense.65587987912588Newt Company.Newt C

58、ompany. 13,91628414,20016589Payroll.Sales Salaries Expense.62111,30011,30026590Dann Company.Dann Company. 11,71123911,95030591Payroll.Sales Salaries Expense.62111,000_11,000_30Totals. 48,80652323,17926,150(101)(119)( )(201)Problem 7-3A (Continued)GENERAL JOURNAL Page 3Apr. 6Accounts Payable-Cray Inc

59、.201/ 70 Office Supplies.12470 Received a credit memorandum.23Accounts Payable-Dann Co.201/ 900 Inventory.119900 Received a credit memorandum.Parts 2 and 3 GENERAL LEDGER CashAcct. No. 101DateExplanationPRDebitCreditBalanceMar. 3185,000Apr. 30D348,80636,194 InventoryAcct. No. 119DateExplanationPRDeb

60、itCreditBalanceMar. 31152,000Apr. 23G3900151,10030P338,515189,61530D3523189,092 Office SuppliesAcct. No. 124DateExplanationPRDebitCreditBalanceApr. 3P31,5301,5306G3701,460 Store SuppliesAcct. No. 125DateExplanationPRDebitCreditBalanceApr. 20P31,0001,000 Store EquipmentAcct. No. 165DateExplanationPRD