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The Woodview Company uses a sales journal,purchases journal,cash receipts journal,cash disbursements journal,and general journal.They use the perpetual method.The following transactions occurred during the current month of December: The Woodview Company uses a sales journal,purchases journal,cash receipts journal,cash disbursements journal,and general journal.They use the perpetual method.The following transactions occurred during the current month of December: Record the above transactions into the appropriate journals shown below: Record the above transactions into the appropriate journals shown below: The Woodview Company uses a sales journal,purchases journal,cash receipts journal,cash disbursements journal,and general journal.They use the perpetual method.The following transactions occurred during the current month of December: Record the above transactions into the appropriate journals shown below: The Woodview Company uses a sales journal,purchases journal,cash receipts journal,cash disbursements journal,and general journal.They use the perpetual method.The following transactions occurred during the current month of December: Record the above transactions into the appropriate journals shown below: The Woodview Company uses a sales journal,purchases journal,cash receipts journal,cash disbursements journal,and general journal.They use the perpetual method.The following transactions occurred during the current month of December: Record the above transactions into the appropriate journals shown below: The Woodview Company uses a sales journal,purchases journal,cash receipts journal,cash disbursements journal,and general journal.They use the perpetual method.The following transactions occurred during the current month of December: Record the above transactions into the appropriate journals shown below:

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Argyle Company uses a cash receipts journal (periodic system) as shown below: Argyle Company uses a cash receipts journal (periodic system) as shown below: How would the following transactions be recorded in this cash receipts journal? \bullet 12/10 Sold merchandise to Sock Company for $9,260 cash (cost is $5,556) \bullet 12/11 Sold merchandise on credit to Gardner,Inc,invoice no.873,for $7,000 (cost is $4,200) .Terms are 2/10,n/30. A) B) C) D) E) How would the following transactions be recorded in this cash receipts journal? ∙\bullet 12/10 Sold merchandise to Sock Company for $9,260 cash (cost is $5,556) ∙\bullet 12/11 Sold merchandise on credit to Gardner,Inc,invoice no.873,for $7,000 (cost is $4,200) .Terms are 2/10,n/30.


A) Argyle Company uses a cash receipts journal (periodic system) as shown below: How would the following transactions be recorded in this cash receipts journal? \bullet 12/10 Sold merchandise to Sock Company for $9,260 cash (cost is $5,556) \bullet 12/11 Sold merchandise on credit to Gardner,Inc,invoice no.873,for $7,000 (cost is $4,200) .Terms are 2/10,n/30. A) B) C) D) E)
B) Argyle Company uses a cash receipts journal (periodic system) as shown below: How would the following transactions be recorded in this cash receipts journal? \bullet 12/10 Sold merchandise to Sock Company for $9,260 cash (cost is $5,556) \bullet 12/11 Sold merchandise on credit to Gardner,Inc,invoice no.873,for $7,000 (cost is $4,200) .Terms are 2/10,n/30. A) B) C) D) E)
C) Argyle Company uses a cash receipts journal (periodic system) as shown below: How would the following transactions be recorded in this cash receipts journal? \bullet 12/10 Sold merchandise to Sock Company for $9,260 cash (cost is $5,556) \bullet 12/11 Sold merchandise on credit to Gardner,Inc,invoice no.873,for $7,000 (cost is $4,200) .Terms are 2/10,n/30. A) B) C) D) E)
D) Argyle Company uses a cash receipts journal (periodic system) as shown below: How would the following transactions be recorded in this cash receipts journal? \bullet 12/10 Sold merchandise to Sock Company for $9,260 cash (cost is $5,556) \bullet 12/11 Sold merchandise on credit to Gardner,Inc,invoice no.873,for $7,000 (cost is $4,200) .Terms are 2/10,n/30. A) B) C) D) E)
E) Argyle Company uses a cash receipts journal (periodic system) as shown below: How would the following transactions be recorded in this cash receipts journal? \bullet 12/10 Sold merchandise to Sock Company for $9,260 cash (cost is $5,556) \bullet 12/11 Sold merchandise on credit to Gardner,Inc,invoice no.873,for $7,000 (cost is $4,200) .Terms are 2/10,n/30. A) B) C) D) E)

F) A) and D)
G) B) and E)

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Special journals are designed in a manner that is best suited for each business,so good systems design for a business could include collapsing the sales and cash receipts journal into one journal.

A) True
B) False

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____________________ is the accounting system component that keeps data in a form accessible to information processors.

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A __________________ is an all-purpose journal that can record any transaction.

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The purchases journal is used for recording:


A) Credit purchases
B) Credit sales
C) Cash sales
D) Cash purchases
E) Cash disbursements

F) A) and E)
G) A) and C)

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______________________ capture information from source documents and enable its transfer to the system's information processing component.

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List the five basic principles of accounting information systems.

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Accounting information systems...

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The purchases journal is identical under both the periodic and the perpetual inventory systems.

A) True
B) False

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Input devices include:


A) Bar-code readers
B) Printers
C) Software
D) Ledgers
E) Database files

F) B) and D)
G) B) and E)

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Source documents:


A) Are input devices.
B) Provide the basic information processed by an accounting system.
C) Cannot be electronic files.
D) Store processed information for future use.
E) Provide systems that interpret,transform and summarize data.

F) A) and B)
G) D) and E)

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The purchases journal is used to record cash purchases of merchandise.

A) True
B) False

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Input devices are the means to make accounting information available to users.

A) True
B) False

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The management of Pasama Inc.is evaluating the three segments of the company.Given the data below,which of the following statements is true regarding segment return on assets? The management of Pasama Inc.is evaluating the three segments of the company.Given the data below,which of the following statements is true regarding segment return on assets? A) Segment Africa has the highest operating income and the highest return on assets. B) Segment Belgium has the highest operating income and the highest return on assets. C) Segment Canada has the highest operating income and the highest return on assets. D) Segment Canada has the highest return on assets and Segment Africa has the lowest return on assets. E) Segment Belgium has a higher return on assets than Segment Canada.


A) Segment Africa has the highest operating income and the highest return on assets.
B) Segment Belgium has the highest operating income and the highest return on assets.
C) Segment Canada has the highest operating income and the highest return on assets.
D) Segment Canada has the highest return on assets and Segment Africa has the lowest return on assets.
E) Segment Belgium has a higher return on assets than Segment Canada.

F) C) and D)
G) A) and D)

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Match the following terms with the appropriate definitions:

Premises
An information system principle requiring that an accounting information system conform with a company's activities, personnel and structure
A journal used to record all purchases on credit
A measure of the profitability of a segment, calculated as segment operating income divided by segment average assets
An information system principle requiring that the benefits from an activity in an accounting information system outweigh the costs of that activity
Any journal used for recording and posting transactions of a similar type
A journal used to record sales of merchandise on credit
The special journal that is used to record all receipts of cash
The component of an accounting system that keeps data in a form accessible to information processors
A general ledger account, the balance of which (after posting) equals the sum of the balances of the accounts in a related subsidiary ledger
A list of each customer from the accounts receivable ledger with their balances and the total
Responses
Cost-benefit principle
Controlling account
Sales journal
Special journal
Cash receipts journal
Schedule of accounts receivable
Purchases journal
Information storage
Segment margin
Compatibility principle

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An information system principle requiring that an accounting information system conform with a company's activities, personnel and structure
A journal used to record all purchases on credit
A measure of the profitability of a segment, calculated as segment operating income divided by segment average assets
An information system principle requiring that the benefits from an activity in an accounting information system outweigh the costs of that activity
Any journal used for recording and posting transactions of a similar type
A journal used to record sales of merchandise on credit
The special journal that is used to record all receipts of cash
The component of an accounting system that keeps data in a form accessible to information processors
A general ledger account, the balance of which (after posting) equals the sum of the balances of the accounts in a related subsidiary ledger
A list of each customer from the accounts receivable ledger with their balances and the total

A ____________________ is a part of a company that is separately identified by its products or services or by the geographic market it serves.

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A _______________________________________ is a listing of accounts from the accounts payable ledger with their balances and the sum of all balances.

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schedule o...

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Two common subsidiary ledgers are cash receipts and cash disbursements.

A) True
B) False

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The general journal is used for transactions not covered by special journals and for regular,adjusting,closing,and correcting entries.

A) True
B) False

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Each transaction recorded in the sales journal yields a debit to Accounts Receivable and a credit to Sales.

A) True
B) False

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