CHAPTER 5 Accounting Systems
Ex. 5–22 (Concluded)
c. Controlling accounts are not posted at the end of the month in a computerized
accounting system. In addition, special journals are not normally used to
accumulate transactions. Transactions are recorded through data input
Ex. 5–23
a. iTunes is an example of a B2C, or business-to-consumer e-commerce
CHAPTER 5 Accounting Systems
Ex. 5–24
a. Amazon.com B2C. Sells books, DVDs, and other products to
Ex. 5–25
a. Horizontal analysis:
Amount Percent
Increase/(Decrease)
Recent Year
(in millions)
Prior Year
(in millions)
CHAPTER 5 Accounting Systems
Ex. 5–25 (Concluded)
c. The horizontal analysis indicates that the total revenues of Starbucks increased by
over 9% (9.4%) from the prior year to the recent year. This increase is explained by
CHAPTER 5 Accounting Systems
Ex. 5–26
a.
Filmed Entertainment $ 7,631 23.3%
Television 4,228 12.9%
For a Recent
Year
(in millions) PercentMajor Product Segments
CHAPTER 5 Accounting Systems
Ex. 5–27
a. Horizontal analysis:
Amount Percent
United States $ 8,112 $ 7,944 $ 168 2.1%
b. Vertical analysis:
United States $ 8,112 33.7% $ 7,944 34.9%
c. The United States (U.S.) segment revenues increased 2.1% from Year 1 to Year 2,
while Europe, APMEA, and Other Countries & Corporate increased 3.2%, 16.8%,
Percent
Year 2 Year 1
Amount
(in millions) Percent
Amount
(in millions)
Increase/(Decrease)
Year 2
(in millions)
Year 1
(in millions)
CHAPTER 5 Accounting Systems
Prob. 5–1A
1. and 2.
Page 1
2014
May 21 1 J. Dunlop 9
Page 1
Debit Credit
2014
Description
Date
PROBLEMS
REVENUE JOURNAL
Account Debited
Post.
Ref.
Post.
Ref.
90
Accounts Rec. Dr.
Fees Earned Cr.
Invoice
No.
JOURNAL
Date
CHAPTER 5 Accounting Systems
Prob. 5–1A (Continued)
Post.
Item Ref. Debit Credit Balance
2014
Post.
Item Ref. Debit Credit Balance
2014
May 27 R1 190 190
Post.
Item Ref. Debit Credit Balance
Date
Name: T. Patrick
Date
Name: F. Mintz
Date
D. Chase
Name:
ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER
CHAPTER 5 Accounting Systems
Prob. 5–1A (Concluded)
Account No. 12
Post.
Item Ref. Debit Credit Debit Credit
2014
GENERAL LEDGER
Date
Balance
Accounts Receivable
Account:
CHAPTER 5 Accounting Systems
Prob. 5–2A
1. and 5.
Account No. 11
Post.
Item Ref. Debit Credit Debit Credit
2014
Balance
Date
GENERAL LEDGER
Account: Cash
CHAPTER 5 Accounting Systems
Prob. 5–2A (Continued)
2. and 4.
Post.
Item Ref. Debit Credit Balance
Post.
Item Ref. Debit Credit Balance
2014
Post.
Item Ref. Debit Credit Balance
2014
ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER
Name: Nickle Co.
Date
Date
Mendez Co.
Name:
Name: Rahal Co.
Date
3., 4., and 5.
Page 40
Page 36
Page 1
REVENUE JOURNAL
Account Debited
Date
Post.
Ref.
Account Credited
Date
Post.
Ref.
Accounts Rec. Dr.
Fees Earned Cr.
Invoice
No.
CASH RECEIPTS JOURNAL
2014
2014
Description
2014
Cash
Dr.
Accts.
Rec.
Cr.
Fees
Earned
Cr.
Credit
Debit
JOURNAL
Post.
Ref.
Date
CHAPTER 5 Accounting Systems
Prob. 5–2A (Concluded)
CHAPTER 5 Accounting Systems
Prob. 5–3A
1. and 4.
Account No. 14
Post.
Item Ref. Debit Credit Debit Credit
2014
GENERAL LEDGER
Account: Field Supplies
Balance
Date
CHAPTER 5 Accounting Systems
Prob. 5–3A (Continued)
2. and 3.
Post.
Item Ref. Debit Credit Balance
Post.
Item Ref. Debit Credit Balance
2014
Date
Name: Omni Co.
Date
Executive Office Supply Co.
Name:
ACCOUNTS PAYABLE SUBSIDIARY LEDGER
CHAPTER 5 Accounting Systems
Prob. 5–3A (Concluded)
3. and 4.
Page 30
2014
Oct. 2 9400 400
PURCHASES JOURNAL
Field
Supplies
Dr.
Account Credited
Meade Co.
Post.
Ref.
Date
Accounts
Payable
Cr.
Office
Supplies
Dr.
Other
Accounts
Dr.
Post.
Ref.
Amount
CHAPTER 5 Accounting Systems
Prob. 5–4A
1., 2., and 3.
Page 1
Accounts
Payable
Cr.
Office
Supplies
Dr.
Other
Accounts
Dr.
Post.
Ref.
Amount
Date
PURCHASES JOURNAL
Field
Supplies
Dr.
Account Credited
Post.
Ref.
2014
CHAPTER 5 Accounting Systems
Prob. 5–4A (Continued)
Page 1
2014
1. and 2.
Page 1
2014
Ck.
No.
Account Debited
Date
Accounts
Payable
Dr.
Date
Description
JOURNAL
Cash
Cr.
Post.
Ref.
Debit
Credit
Other
Accounts
Dr.
CASH PAYMENTS JOURNAL
Post.
Ref.
CHAPTER 5 Accounting Systems
Prob. 5–4A (Continued)
1.
Post.
Item Ref. Debit Credit Balance
2014
Post.
Item Ref. Debit Credit Balance
ACCOUNTS PAYABLE SUBSIDIARY LEDGER
Name: Hydro Supply Co.
Date
Date
Best Office Supply Co.
Name:
CHAPTER 5 Accounting Systems
Prob. 5–4A (Continued)
2. and 3.
Account No. 11
Post.
Item Ref. Debit Credit Debit Credit
Account No. 15
Post.
Item Ref. Debit Credit Debit Credit
Account No. 17
Post.
Item Ref. Debit Credit Debit Credit
2014
Balance
Date
Date
Account: Office Supplies
Balance
Date
2014
GENERAL LEDGER
Account: Field Equipment
Balance
Account: Cash
CHAPTER 5 Accounting Systems
Prob. 5–4A (Concluded)
Account No. 21
Post.
Item Ref. Debit Credit Debit Credit
4.
Best Office Supply Co. $ 620
5. A subsidiary ledger for the field equipment would allow the company to track
SWEETWATER WATER TESTING SERVICE
Accounts Payable Creditor Balances
June 30, 2014
Account: Accounts Payable
Balance
Date