FLOWCHART QUIZ Sales Order Credit Finished Goods Start Customer Purchase Order Sales Order 3 A Approved Sales Order Shipping Sales Order 2 Sales Order C D Approved Sales Order Sales Order 2 B 1.) Prepare six-part sales order 2.) Customer purchase order and copy of sales order Approved Sales Order G E F K Billing Accounts Receivable Approved Approve Order 3 Bill of Lading Customer P.O. Sales Order Bill of Lading Sales Invoice M P 3.) File temporarily until shipping copy of sales order arrives 4.) Account for numerical sequence of sales invoices Q N 5.) File by order number 6.) Prepare bill of lading in three copies 7.) File temporarily until goods arrive from finished goods dept. 8.) Post sales amount from sales invoice to customer's account H O 9.) Approve credit Sales Journal AR Ledger 10.) Mail copy to customer when goods are shipped Sales Invoice 11.) Prepare sales invoice in three copies from supporting documents Bill of Lading 12.) File in accounts receivable dept. 2 14 13.) Pick ordered goods and deliver to shipping dept. Sales Order Approved S.O. Sales Invoice 2 3 14.) Attach copy of bill of lading to copy of sales order 2 16 15.) Mail copy of sales invoice to customer Bill of Lading 16.) File in finished goods department 17.) File in shipping dept. 17 J 18.) Record sales transaction in sales journal Customer P.O. File by Invoice No. R Sales Order End
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Problem 2-A This problem is a continuation of Sample Problem 2-S. You will enter the general journal entries for the month of December of the current year and complete the end-of-fiscal period processing. Answer Audit Questions 2-A pages on 87-88 while you are working on this problem. As you complete this problem, click Info on the toolbar for helpful check figures to audit your work. General Journal Transactions Dec. 01 Paid cash for month's rent, $1,200.00; Check No. 3829. 01 Paid cash for monthly telephone bill, $237.73; Check No. 3830. 02 Paid cash for delivery charges, $42.00; Check No. 3831. Charge to Miscellaneous Expense. 05 Purchased advertising on account, $255.00; Invoice No. 2515. 05 Billed client for services rendered, $3,200.00; Invoice No. 5435. 06 Purchased supplies on account, $118.56; Invoice No. 2516. 06 Paid cash for mileage reimbursement, $405.00; Check No. 3832. Charge to Automobile Expense. 07 Purchased repair services on account, $285.00; Invoice No. 2517. 07 Paid cash for travel expenses, $125.35; Check No. 3833. 09 Paid cash on account, $175.00; Check No. 3834. 09 Purchased supplies on account, $225.30; Invoice No. 2518. 09 Billed client for services rendered, $2,000.00; Invoice No. 5436. 12 Billed client for services rendered, $3,575.00; Invoice No. 5437. 13 Purchased advertising on account, $500.00; Invoice No. 2519. 14 Paid cash for dues for a professional organization, $265.00; Check No. 3835. 15 Received cash on account, $3,200.00; Invoice No. 5435. 16 Paid cash for charitable contribution, $75.00; Check No. 3836. 19 Received cash on account, $3,700.00; Invoice No. 5434. 20 Billed client for services rendered, $1,200.00; Invoice No. 5438. 21 Purchased supplies on account, $135.00; Invoice No. 2520. 23 Paid cash on account, $136.85; Check No. 3837. 27 Paid cash on account, $250.00; Check No. 3838. 29 Received cash on account, $3,250.00; Invoice No. 5433. 30 Paid cash on account, $311.86; Check No. 3839. 30 Received cash on account, $2,000.00; Invoice No. 5436. 30 Paid monthly salaries, $2,054.38; Check No. 3840. 30 The owner withdrew cash for personal use, $3,200.00; Check No. 3841. Step 1: Start Integrated Accounting 8e.
As part of the engagement team for the audit of JA Tire Manufacturing for the year ended December 31, 2019, you are responsible for auditing the sales and collection cycle. Visit the textbook website to download the data file "JATireSales.xls" provided to your audit firm by the company. The manager has instructed you to read the JA Tire Manufacturing system description provided on the first tab of the Excel file before attempting this assignment to familiarize yourself with the sales process and the relevant worksheets and terminology. This file contains sales transaction information for the year ended December 31, 2019. You will use this data file to perform the following audit procedures. Required: Open the data file and review the contents for each of the worksheets (Sales Order, Bills of Lading, Invoice, Cash Receipts, Customer Master, and Product Master). You will work with the Invoice, Sales Order, Bill of Lading, and Customer Master worksheets for this problem. What columns are included in both the Invoice and Sales Order worksheets? What columns are different between these two worksheets? One of the audit objectives you are testing is the occurrence audit objective for sales. Use functions in Excel to determine whether any of the following are present, and if present, identify which observations: - Duplicate invoice numbers in the Invoice worksheet - Duplicate customer purchase order numbers in the Sales Order worksheet - Bills of lading and invoices with repeated sales order numbers in the Bill of Lading and Invoice worksheets, respectively - Sales orders in the Sales Order worksheet without a customer purchase order, but that were shipped (as evidenced by a bill of lading in the Bill of Lading worksheet) - Invoice numbers in the Invoice worksheet with a voided sales order number in the Sales Order worksheet - Sales orders in the Sales Order worksheet with a customer number that is not on the approved customer list Summarize your findings. What is your overall conclusion about the occurrence audit objective?
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