PA RT V-PLEASE READ ALL QUESTIONS CAREFULLY. IF YOU DON\'T UNDERSTAND WHAT YOU N
ID: 2598046 • Letter: P
Question
PA RT V-PLEASE READ ALL QUESTIONS CAREFULLY. IF YOU DON'T UNDERSTAND WHAT YOU NEED TO DO PLEASE BE SURE TO ASK ME Below is a list of transaction processing activities. For each one choose two answers from A, B, C, or D from the list that follows (see below) to show which two function are being performed. @ point ach 10 points) 80. Matt, upon receipt of goods from a vendor completes a receiving report 81. Jason, the purchasing department manager reviews and signs all purchase orders in excess of 82. Joan is responsible for verifying that the accounts receivable subsidiary ledger ties in with the 83. John packs the items to be shipped in boxes and fills out inventory control reports. $100 and enters new vendors onto the vendor master file accounts receivable account in the general ledger and records adjusting journal entries. 84. Sue makes the appropriate sales entry, and decides who should get credit for damaged merchandiseExplanation / Answer
80.
Matt upon recipt of goods from vendors first he do recording transactions and next he do take into custody of the asset.
Answer : B and C
81.
Jason,the purchasing department manager reviews and signs all purchase orders in excees of $100 means he do a reconciliation function and enters new vendors onto the vendor master file means recording transactions
Answer : D and B
82.
Joan is responsible for verifying that the accounts receivable subsidiary ledger ties in with the accounts receivable account in the general ledger means he do authorizing transactions and records adjusting journal entries means he do recording transactions
Answer : A and B
83.
John packs the items to be shipped in boxes means he is having access to the asset and fills out inventory control reports means he do recording transactions
Answer : C and B
84.
Sue makes the appropriate sales entry means he do recording transactions and decides he should get credit for damaged merchendise means he do authorizing transactions
Answer : B and A
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