Appendix 7A – Accounting Information Systems
Appendix 7A—PERIODIC
Accounting Information Systems
QUICK STUDIES
Quick Study 7-11A (20 minutes)
PURCHASES JOURNAL
Date Account
Date
of
Invoice Terms PR
Account
s
Payable
Cr.
Purchases
Dr.
Office
Supplies
Dr.
Other
Accounts
Dr.
May 1 Krause, Inc………………
5/01 n/30 10,100 10,100
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Appendix 7A – Accounting Information Systems
EXERCISES
Exercise 7-12A (15 minutes)
SALES JOURNAL
Date Account Debited
Invoice
Number PR
Accounts Receivable Dr.
Sales Cr.
Exercise 7-13A (25 minutes)
CASH RECEIPTS JOURNAL
Date
Account
Credited Explanation PR
Cash
Dr.
Sales
Discoun
t
Dr.
Accts.
Rec.
Cr.
Sales
Cr.
Other
Accounts
Cr.
Nov. 9 Notes Payable………..
Note to
bank 3,750 3,750
Exercise 7-14A (25 minutes)
CASH DISBURSEMENTS JOURNAL
Date
Ck.
No. Payee
Account
Debited PR
Cash
Cr.
Purchases
Discounts
Cr.
Other
Accounts
Dr.
Accounts
Payable
Dr.
Apr.
9
210 Kitt Corp………………………Store Supplies………………………………………
650 650
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Appendix 7A – Accounting Information Systems
PROBLEM SET A
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Appendix 7A – Accounting Information Systems
Problem 7-4AA (70 minutes)
Parts 1 and 2
SALES JOURNAL Page 3
Date Account Debited
Invoice
Number PR
Accounts Receivable Dr.
Sales Cr.
Apr. 3 Page Alistair…………………………………….760 4,000
5Paula Kohr………….…………………………..
761 8,000
(106/413)
CASH RECEIPTS JOURNAL Page 3
Date
Account
Credited Explanation PR
Cash
Dr.
Sales
Discounts
Dr.
Accounts
Receivable
Cr.
Sales
Cr.
Other
Accounts
Cr.
Apr.
13
Page Alistair…………………………………….Sale of 4/3 3,920 80 4,000
(101) (415) (106) (413) ()
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Appendix 7A – Accounting Information Systems
Problem 7- 4AA (Continued)
Parts 2 and 3
GENERAL LEDGER
Cash Acct. No. 101
Date Explanation PR Debit Credit Balance
Accounts Receivable Acct. No. 106
Date Explanation PR Debit Credit Balance
Inventory Acct. No. 119
Date Explanation PR Debit Credit Balance
Long-Term Notes Payable Acct. No. 251
Date Explanation PR Debit Credit Balance
B. Wiset, Capital Acct. No. 301
Date Explanation PR Debit Credit Balance
Sales Acct. No. 413
Date Explanation PR Debit Credit Balance
Sales Discounts Acct. No. 415
Date Explanation PR Debit Credit Balance
Apr. 30 R3 552 552
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Appendix 7A – Accounting Information Systems
Problem 7- 4AA (Continued)
Parts 2 and 3—continued
ACCOUNTS RECEIVABLE LEDGER
Page Alistair
Date Explanation PR Debit Credit Balance
Apr. 3 S3 4,000 4,000
Paula Kohr
Date Explanation PR Debit Credit Balance
Apr. 5 S3 8,000 8,000
Nic Nelson
Date Explanation PR Debit Credit Balance
Apr. 11 S3 10,500 10,500
Part 4
WISET COMPANY
Trial Balance
April 30
Debit Credit
Cash……………………………………………………………. $298,863
Accounts receivable…………………………………….. 9,870
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Appendix 7A – Accounting Information Systems
Problem 7- 4AA (Concluded)
Part 4—continued
WISET COMPANY
Schedule of Accounts Receivable
April 30
Paula Kohr…………………………………………. $3,170
Part 5
Analysis component
To 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 listed on the schedule of accounts receivable back to the
Problem 7-5AA (80 minutes)
Parts 1 and 3
PURCHASES JOURNAL
Date Account
Date of
Invoice Terms PR
Accounts
Payable
Cr.
Purchases
Dr.
Office
Supplies
Dr.
Accounts
Apr. 2 Noth Company…………………………………
4/2 2/10, n/60 14,300 14,300
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Appendix 7A – Accounting Information Systems
20 Store Supplies/Hal’s Supply……………….
4/19 n/10, EOM 125/830
(201) (505) (124)
CASH DISBURSEMENTS JOURNAL
Date
Ck.
No. Payee Account Debited PR
Cash
Cr.
Purchases
Discount
Cr.
Other
Accounts
Dr.
Accounts
Payable
Apr. 4 587 World View………………………………………Advertising Expense…………………………………………………….
65
5
899 899
12 588 Noth Company……………………………………
Noth Company…………………………………………………………….
14,014 286
1
(101) (507) ()
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Problem 7-5AA (Continued)
Parts 1 and 3—continued
GENERAL JOURNAL Page 3
Apr. 6 Accounts Payable—Custer, Inc…………………………….
201/80
Office Supplies………………………………………….124 80
Parts 2 and 3
GENERAL LEDGER
Cash Acct. No. 101
Date Explanation PR Debit Credit Balance
Inventory Acct. No. 119
Date Explanation PR Debit Credit Balance
Office Supplies Acct. No. 124
Date Explanation PR Debit Credit Balance
Store Supplies Acct. No. 125
Date Explanation PR Debit Credit Balance
Store Equipment Acct. No. 165
Date Explanation PR Debit Credit Balance
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Problem 7-5AA (Continued)
General Ledger—continued
Accounts Payable Acct. No. 201
Date Explanation PR Debit Credit Balance
Apr. 6 G3 80 (80)
Long-Term Notes Payable Acct. No. 251
Date Explanation PR Debit Credit Balance
B. Wiset, Capital Acct. No. 301
Date Explanation PR Debit Credit Balance
Purchases Acct. No. 505
Date Explanation PR Debit Credit Balance
Purchase Returns and Allowances Acct. No. 506
Date Explanation PR Debit Credit Balance
Purchases Discounts Acct. No. 507
Date Explanation PR Debit Credit Balance
Sales Salaries Expense Acct. No. 621
Date Explanation PR Debit Credit Balance
Advertising Expense Acct. No. 655
Date Explanation PR Debit Credit Balance
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