Match the procedures and processes with the components by placing the letter of the appropriate component on the blank provided.

Question

Want to see the full answer?

Answer 1

Question

Chapter 7A, Problem 2SEA

To determine

Match the procedures and processes with the components by placing the letter of the appropriate component on the blank provided.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

Answer the following questionsYou were hired to assist Oman based Company in designing an accounting system for Oman Co., Ltd. has developed a list of the journals, ledgers, reports and documents that he thinks Oman Co., Ltd. The company asks you to complete the following tasks:a) Specify what data you think should be collected on each of the following four documents: Sales invoice, purchase order, receiving report, employee time card.b) Design a report to manage inventory.

Many business events are recorded in the GL from feeder processes. The first list below identifies eight business events. The second list specifies five feeder processes. Match the events with the processes. Each process may have one or more event specified. Some events may not be used. Business Events Sales order is received from a customer. Inventory is sold to a customer. Inventory is received from a vendor. Inventory is returned from a customer. Cash is disbursed for inventory purchased. Bad debts are written off. Employer taxes are accrued. Cash is received from a sale. Employer taxes are deposited. Feeder Processes blank 11. B/AR/CR process blank 22. Purchasing process blank 33. OE/S process blank 44. AP/CD process blank 55. Payroll process

You were hired to assist Oman based Company in designing an accounting system for Oman Co., Ltd. has developed a list of the journals, ledgers, reports and documents that he thinks Oman Co., Ltd. The company asks you to complete the following tasks: a) Specify what data you think should be collected on each of the following four documents: Sales invoice, purchase order, receiving report, employee time card. b) Design a report to manage inventory. e) Design a report to assist in managing credit sales and cash collections. d) What types of journals, ledgers and blank forms for various documents ( Sales invoices, purchase orders etc)