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AccountingIIOriginalityReport.pdf
5/4/2021 Originality Report
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Word Count: 819 Ermler&TrumpCaseReview-Unit I-PrinciplesofAccountingII. pdf
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Ermler and Trump Case Review
Sharonda Robinson
Columbia Southern University
Professor Rick Gordon
BBA 2301-19M-5B21-S2, Principles of Accounting II
May 4, 2021
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Manual Accounting System
Companies and businesses usually use an accounting system for collecting, reporting and
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maintaining their financial information. Such accounting systems usually come in various sizes
and shapes that can be easily changed to suit the needs of a specific organization. Most of the
company's especially small businesses such as wholesalers like Ermler and Trump prefer a
manual accounting system. It allows them to carefully design the process as they use or employ
the traditional method of keeping track of all financial transactions on paper or in a localized
spreadsheet (Amahalu et al., 2017). Ermler and Trump business could prefer to use a manual
accounting system over the computerized accounting system because manual accounting would
allow their business to take entire accountability of all the records collected and maintained by
the organization. Thus, in Ermler and Trump's scenario, the special journals they could have in
its manual accounting system may include a sales journal, cash receipts journal, a purchases
journal, and a cash payment journal.
The journals mentioned above represent the column headings for each. For the sales
journal, it is very wise to record its transactions on a manual accounting system since it is very
critical as it records the sales on credit. Sales journal transactions could also be recorded in the
computerized accounting system. Still, to the size of the wholesale that Ermler and Trump are
operating, it could be costly and challenging to implement. The sales journal heading that is
appropriate to be included in the manual accounting system may include the date of the credit
sales, invoice number, customers name, reference number, and debit accounts, including
accounts receivables and credit sales. For the cash receipts journal, it is also very critical in the
business, and a computerized accounting system needs its back up; in any case, information may
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be lost. Cash receipt journal is usually used in recording cash received by debiting cash account
and crediting sales, accounts receivables, among others (Christianson et al., 2020). Thus the
headings of this journal which are so critical and are supposed to be looked keen in this business
may include the date, account, reference number, debit side and credit side. In the purchases
journal, information backup is needed since this gives the company their credits as purchases on
credits are recorded here. It would be easy to record transactions of credit purchases with a
manual accounting system, and it would include the date, purchase order, customer name,
reference number, and debit and credit columns. Lastly, the cash payment journal is also very
critical in the financial information of Ermler and Trump business which should be recorded in
the manual accounting system. This journal will be used in recording cash payments of their
business, especially to their suppliers. The appropriate columns of this journal may include the
date, check account, references number, and credit and debit columns.
The business of Ermler and Trump also requires both subsidiary and control accounts
which will contain information that will contain details to support the general ledger. The
subsidiary ledger will have information on the company's credit sales to the customers, each
customer remittance, and return of merchandise and discounts. Thus, Ermler and Trump will
need to have the debtor's ledger control account and creditor’s ledger control account. For the
subsidiary, accounts may include accounts receivables for customer wise and last is accounts
payable customer wise. A control account summarizes the set of subsidiary accounts instead of
posting all the entries to a general ledger. The control accounts summary is then taken to the
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general ledger. This will help in minimizing entries and have control over transactions
(Getachew, & Beamish, 2017). Control accounts help the business check and detect errors and
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fraud early, minimize bulk posting to the general ledger, helps to prepare a concise trial balance.
Subsidiary account will also keep track of the information of every customer, be it a supplier or
buyer. It is a summary level account in the general ledger. It helps in reconciling balances. The
total balance in accounts receivables ledger totals to debtors ledger control account and total in
accounts payable register totals to creditors ledger control account.
References
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Amahalu, N., Abiahu, M. F. C., & Chinyere, O. (2017). Comparative analysis of computerized
accounting system and manual accounting system of quoted Microfinance Banks (MFBs)
in Nigeria. International Journal of Academic Research in Accounting, Finance and
Management Sciences, 7(2), 30-43.
Christianson, M. S., Goodman, L. R., Booth, R., Lindheim, S. R., & Azziz, R. (2020). Financial
fluency: demystifying accounting and business planning for the reproductive medicine
specialist. Fertility and sterility.
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Getachew, Y. S., & Beamish, P. W. (2017). Foreign subsidiary exit from Africa: The effects of
investment purpose diversity and orientation. Global Strategy Journal, 7(1), 58-82.
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Columbia Southern University
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Columbia Southern University
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BBA 2301-19M-5B21-S2, Principles of Ac- counting II
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BBA 2301-19M-3B21-S2, Principles of Ac- counting II
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Manual Accounting System
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manual accounting system
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manual accounting system.
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manual accounting system
5/4/2021 Originality Report
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ezace 78%
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accounting system over the computer- ized accounting system because manual accounting would
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Effectiveness of Computerized Account- ing System over Manual Accounting System
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journal, and a cash payment journal.
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Purchases Journal Cash Payment Journal
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The journals mentioned above represent the column headings for each.
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Column headings for special journals
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Sales journal transactions could also be recorded in the
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In what journal would the following transactions be recorded
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computerized accounting system.
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What are the uses of a computerized ac- counting system
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Lastly, the cash payment journal is also very
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Cash payment journal
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the manual accounting system.
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manual accounting system
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The business of Ermler and Trump also requires both subsidiary and control accounts
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Control accounts and subsidiary ac- counts to be included in Ermler and Trump are
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need to have the debtor's ledger control account and creditor’s ledger control account.
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· Debtor’s ledger control account · Creditor’s ledger control account Subsidi- ary accounts are
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A control account summarizes the set of subsidiary accounts instead of
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A Control account summarizes the set of subsidiary accounts
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posting all the entries to a general ledger.
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Instead of posting all the entries to a General Ledger,
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The control accounts summary is then taken to the
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· Control accounts summary is taken to the General Ledger
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This will help in minimizing entries and have control over transactions
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This will help minimize entries and have control over transactions
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Control accounts help the business check and detect errors and
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control accounts do several things, such as help a business to check and detect errors and frauds
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fraud early, minimize bulk posting to the general ledger, helps to prepare a con- cise trial balance.
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Control accounts help the businesses check and detect errors and fraud early, minimize bulk posting to the general ledger, helps to prepare concise trial balances
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It is a summary level account in the gen- eral ledger.
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It is a summary level account in general ledger
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It helps in reconciling balances.
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It helps in reconciling balances
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total balance in accounts receivables ledger totals to debtors ledger control ac- count and total in accounts payable re- gister totals to creditors ledger control account.
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The grand total balance in the accounts receivable ledger totals to Debtors Ledger Control account Grand total in ac- counts payable register totals to Credit- ors Ledger Control accounts
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Amahalu, N., Abiahu, M.
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Amahalu, N., Abiahu, M
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C., & Chinyere, O.
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C., & Chinyere, O
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accounting system and manual account- ing system of quoted Microfinance Banks (MFBs)
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Comparative Analysis of Computerized Accounting System and Manual Account- ing System of Quoted Microfinance Banks (MFBs) in Nigeria
5/4/2021 Originality Report
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International Journal of Academic Re- search in Accounting, Finance and
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International Journal of Academic Re- search in Accounting, Finance and Man- agement Sciences
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Management Sciences, 7(2), 30-43.
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International Journal of Academic Re- search in Accounting, Finance and Man- agement Sciences, 7(2), 30-43
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Foreign subsidiary exit from Africa:
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The first paper, entitled “Foreign Subsidi- ary Exit from Africa
