Accounting Data System 12e Solutions Chapter End Problems By Lukka
During its early years, AVC had a centralized decision-making organization. Top management formulated all plans and directed all operations. As the company expanded, choice making was decentralized, although knowledge processing was extremely centralized. Departments coordinated their plans with the corporate workplace but had the freedom to develop their very own sales applications. However, info issues developed, and the IS division was requested to enhance the corporate’s information processing system as soon as the brand new gear was installed. 19.1 We-Fix-Computers, Inc. provides spare parts and service for a wide variety of computers. Some companies do not embrace any new elements, only a labor cost for that service.
The permissions for the sales reps define a ________ in the firm’s database administration system. 55) Chelsana Washington is a medical equipment sales representative. The permissions for Chelsana outline a ________ in the company’s database management system. 21.9Quickfix is quickly losing enterprise, and management needs to revamp its computer repair processes and procedures to lower prices and enhance customer support. Currently, a customer needing assist calls one of five regional service facilities. If not, the representative finds the following closest technician. When a technician is situated, customer restore info is provided over the telephone.
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While salesperson A was keying in the order, salesperson B, in one other state, additionally famous the supply of fifty five models for part 723 and entered an order for 33 of them. Both sales reps promised their buyer subsequent-day delivery. Salesperson A’s buyer, nonetheless, discovered the subsequent day that the half would have to be back-ordered. The customer canceled the sale and vowed to never once more do business with the corporate. Occasionally, errors happen in processing per week’s production price knowledge, which requires the complete week’s cost data to be reprocessed at a cost of $34,500. The current risk of error without any management procedures is 8%.
Monthly statements, ready by Billing, are despatched to clients in the course of the cycle billing interval. Outstanding carry forward balances reported by Accounts Receivable and credit memos prepared by the credit score manager are included on the month-to-month assertion. Billing also prepares electronic gross sales and credit memos for each cycle. Electronic copies of invoices and credit score memos are forwarded to Accounts Receivable for entry into the accounts receivable master file by customer account.
An aging report is ready at the end of every month and forwarded to the credit manager. General accounting runs a question to compare this information to the digital gross sales and credit memo and posts the adjustments to the general ledger grasp file. 7.12PriceRight Electronics is a small wholesale discount provider of electronic instruments and components. PEI’s competitive benefit is its deep-low cost, three-day supply assure, which allows retailers to order supplies often to reduce in-retailer inventories. PEI processes its information with stand-alone, incompatible computer techniques aside from built-in enterprise useful resource planning stock and accounts receivable modules. PEI determined to finish integrating its operations with more ERP modules, but because of cash move considerations, this needs to be achieved on a step-by-step foundation.
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You have been reviewing the interior controls of the pc system that processes most of its accounting purposes. You have studied the company’s in depth systems documentation.
She assigns a list number to each item and data the “asking” price. Cosgrove buys value tags and display supplies from an organization that sells at flea market and vintage reveals. All inventory and provides purchases are paid immediately with cash, or with checks from a bank account within the enterprise’ name, to which gross sales are additionally deposited. Several occasions a 12 months Cosgrove rents a sales space at an antique present. A deposit is at all times required, with the stability due at the start of the present. Cosgrove records the deposit and ultimate payment, together with the present organizer’s name and address, in the same worksheet on which purchases of stock and provides are recorded. sixty two) Cosgrove Art & Antiques sells unique art and antiques exclusively at antique exhibits.
56) Chelsana Washington is a medical gear gross sales representative. Her company has supplied her with a laptop laptop that uses wi-fi connectivity to access the accounting data system from virtually wherever in the nation.
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The edit summary report listing no errors was included within the working papers, with a notation by the senior auditor that the take a look at indicates good software controls. You notice that the quality of the audit conclusions obtained from this take a look at is flawed in a number of respects, and also you determine to ask your subordinates to repeat the check. 11.2 As an inside auditor for the Quick Manufacturing Company, you are collaborating within the audit of the corporate’s AIS.
49) Cosgrove Art & Antiques sells distinctive artwork and antiques completely at vintage shows. forty eight) Cosgrove Art & Antiques sells distinctive artwork and antiques exclusively at antique reveals. 47) Cosgrove Art & Antiques sells unique artwork and antiques solely at antique shows. PSC bought turnkey methods and support google maps scraper and business data extractor software services at cost to help salons answer Terri’s questions. Unfortunately, PSC’s pc could not reply those same questions. Steve requested consultant Mike Fenske for help. Mike entered all of PSC’s raw data into a database and wrote a program to produce the desired info.
The new system, which value $1 million and was put in by the IS employees on time, did not work properly. Complex transactions were error-inclined, some transactions were canceled and others have been placed on maintain, and the system could not differentiate amongst customers. The system was finally shut down, and transactions were processed manually.
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Individual customers must pay for all components purchases in full at the time of sale. Individual prospects should pay 50% down after they bring their computers in for servicing and pay the steadiness at pickup. Corporate customers, however, are billed month-to-month for all sales . Although We-Fix-Computers, Inc. has a number of completely different banking accounts, all sales are deposited intact into its primary checking account. eleven.5You are a manager for the CPA agency of Dewey, Cheatem, and Howe (DC&H). While reviewing your employees’s audit work papers for the state welfare company, you find that the check information strategy was used to check the agency’s accounting software.
As a part of the ________ step within the techniques improvement life cycle, the team defined the procedures to again up and safe system knowledge. C) In contrast, the actual cost of inventory is saved in a relationship desk because prices can vary over time.
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The project was estimated to take 18 months and value $5 million. The project group consisted of 20 enterprise and IT employees members. After two years, the CIO was fired, and the company hired a CIO with expertise in saving troubled initiatives. The new CIO stated three grave errors have been committed.
The project failed for a lot of causes. The methods improvement process was so dynamic that the failure to complete the project shortly turned self-defeating as modifications took over the original design. Second, administration did not have a transparent imaginative and prescient of the brand new AIS and lacked a powerful support employees.
Mickie and John have established a new schedule for most of the reviews, changing the frequency from weekly to month-to-month. After a gathering with the director of IS, Mickie selects a programmer to assist her with the details of the brand new reporting formats. 22.4Mickie Louderman is the brand new assistant controller of Pickens Publishers. She was the controller of an organization in an analogous industry, the place she was in charge of accounting and had considerable affect over laptop heart operations. Pickens needs to revamp its data system, inserting increased emphasis on decentralized data entry and online methods. John Richards, the controller, is near retirement.
He has put Mickie in control of developing a new system that integrates the corporate’s accounting-associated capabilities jewelry stores email list and jewelry contacts directory. Her promotion to controller will rely upon the success of the brand new AIS.
63) Cosgrove Art & Antiques sells distinctive artwork and antiques solely at vintage shows. Cosgrove purchases inventory from individuals and other sellers at garage sales, flea markets, antique malls, and estate sales. Each time Cosgrove makes a purchase order, she records the individual’s name, handle, date, particular gadgets bought and price paid, and complete amount spent. Later at residence, Cosgrove cleans, researches and prices the stock objects.
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New IS administration was employed to build a new system and mend the strained relationship between operations and IS. Two traveling gross sales representatives accessed the elements database at the similar time. Salesperson A noted that there have been nonetheless fifty five models of half 723 out there and entered an order for 45 of them.
To capture and acquire manufacturing prices, the corporate acquired an automated cost accounting system from a nationwide vendor. The vendor supplies assist, maintenance, and information and program backup service for LRC’s system.
A) Double-entry accounting relies on redundancy as a part of the accounting process however nicely-designed database methods scale back and attempt to get rid of redundancy. C) Charlie retains information of all his enterprise data in a shoe box. Each week he enters the entire information into spreadsheets that automatically generate buy orders, based on predetermined inventory reorder factors. Production quotas for the coming week are also routinely generated based mostly on buyer orders. C) The AIS was often simply one of the information techniques utilized by an organization to collect and process monetary and nonfinancial information. Integrate over 600 IS purposes, all with their own infrastructure and business processes. The new stock control system fails to improve the carrying level of many stock objects.
She, and the other gross sales reps, have entry to view buyer and product information. They have entry that permits them to enter and cancel buyer orders.
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The system worked but had problems. To alleviate these problems, Steve employed Mike as the corporate controller. Given the precision required to make skates, tracking bing search engine scraper and email extraction software manufacturing prices is very important to administration so it could price the skates appropriately.
Mickie makes use of the same design traits and reporting format she used at her former company. She sends particulars of the new AIS to the departments that interface with accounting, together with inventory management, purchasing, human resources, production control, and marketing. If they do not respond with recommendations by a prescribed date, she is going to proceed the development process.
LRC’s administration is currently contemplating a set of value accounting control procedures that is estimated to cut back the danger of the data errors from 8% to 3%. This data validation control procedure is projected to value $1,000 per week. LRC operates one shift, 5 days a week. All manufacturing information are collected and recorded by Saturday evening so that the prior week’s production knowledge can be processed. One of management’s main issues is how the precise manufacturing course of costs compare with deliberate or normal manufacturing course of prices. As a end result, the price accounting system produces a report that compares actual prices with requirements costs and supplies the distinction, or variance. Management focuses on important variances as one means of controlling the manufacturing processes and calculating bonuses.
61) Cosgrove Art & Antiques sells unique artwork and antiques exclusively at vintage shows. fifty one) Cosgrove Art & Antiques sells unique artwork and antiques exclusively at vintage reveals. 50) Cosgrove Art & Antiques sells distinctive artwork and antiques exclusively at antique exhibits.
The technician calls the shopper and arranges to select up the computer and replace it with a loaner. Making these preparations takes one to 2 days and sometimes more if technicians usually are not available or don’t promptly return calls. 21.8 Norcom, a division of a big producer, wanted a new distribution and customer support system.
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- Cosgrove purchases inventory from people and different dealers at storage gross sales, flea markets, vintage malls, and estate gross sales.
- She assigns a listing quantity to each item and data the “asking” worth.
- Later at house, Cosgrove cleans, researches and prices the inventory gadgets.
- sixty three) Cosgrove Art & Antiques sells distinctive artwork and antiques exclusively at antique reveals.
- Each time Cosgrove makes a purchase, she records the particular person’s name, tackle, date, particular gadgets bought and price paid, and complete amount spent.
Daniel Baas was the techniques administrator for a company that did enterprise with Acxiom, who manages customer info for corporations. The intrusion cost Acxiom over $5.eight million. On the off probability instagram automation tool most powerful instagram bot 2020 that you don’t like your order, you possibly can request a refund and we are going to return the money according to our money-again guarantee.
You have interviewed the data system supervisor, operations supervisor, and different staff to finish your standardized laptop inside management questionnaire. You report back to your supervisor that the corporate has designed a profitable set of comprehensive inner controls into its computer systems. He thanks you for your efforts and asks for a abstract footwear wholesalers email list and b2b database of shoe shops report of your findings for inclusion in a final overall report on accounting internal controls. Accounting. Billing costs all gross sales orders received, which is finished approximately 5 days after the order ships. To unfold the work effort throughout the month, clients are positioned in certainly one of six 30-day billing cycles.
As a outcome, a number of incompatible monitoring methods sprang from the corporate’s distributed computer system. Third, the project was too massive and complicated for the consulting agency, who had little experience with the advanced database on the heart of the new system. Finally, the project had too many functions . Interdependencies among subprograms left consultants with few accomplished packages. Every program was linked to a number of subprograms, which in turn have been linked to a number of other programs. Programmers ultimately found themselves misplaced in a morass of subroutines with no accomplished program.
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