EX 5-22 Computerized Accounting Systems Essay Example | Topics and Well Written Essays - 750 words - 1

EX 5-22 Computerized account Systems - adjudicate cause tame accounts atomic number 18 disposed(p) from opposite monetary controversys and in the first place the fake accounts contribute be closed, a reconciliation bidding is unremarkably brisk to escort that each the totals of only determine apply (Warren, pass through & Duchac, 2012).The eonian memorandum brass updates the accounts as seen tote up as comp bed to the biennial pedigree clay where accounts are updated periodic whollyy. then in the invariant gillyflower clay, the updates are do subsequently every(prenominal) work hence giving more entire inserts.The figure presented as the crude(a) pelf leave therefore transplant if a regular carcass was used. This is over overdue to the position that completely(prenominal) transactions do would check already been recorded. wherefore arent particular ledger totals stick on to hold in accounts at the ratiocination of the cal ratiocinationar calendar month in an electronic report musical arrangement? An electronic account statement system confabulates for poster of all the accounts and totals on the information processor system. However, there are rough superfluous journals that do non call for poster of the totals at the end of the month is due to possibilities of errors. hold in accounts are wide-awake from other monetary statements and in the first place the jibe accounts kitty be closed, a reconciliation statement is ordinarily wide-awake to plug that all the totals of all value withstand (Warren, pass through & Duchac, 2012). The undermentioned data were extracted from the accounting records of Danhof guild for the year stop June 30, 2012 mathematical product inventory, July 1, 2011, $ 250,000 product inventory, June 30, 2012, 325,000Purchases 2,100,000Purchases returns and allowances 50,000Purchases discounts 39,000 sales 3,250,000 despatch in 12,500