Accounting lab homework
jdeenn
accouting_lab_chapter_11.docInstructions for ACL Problem 11-35
Click on “open an existing project”
Next: click “ACL_Demo
Click on Metaphor_APTRANS_2002 file
To determine the total Invoice Amount column for comparison to the general ledger.
Highlight the total invoice amount column,
Next, click “Analyze” then “Total Fields
a. The invoice amount column totals $278,641.33.
To return back to the table click the name of the file “Metaphor_ApTrans-2002”
b. Recalculate unit cost time quantity and identify an extension misstatement (filter)
Create a filter with the expression Unit_Cost * Quantity <> Invoice _ Amount
Click “Edit” then “filter”
Then “new”
Click “ Unit_Cost”
Click “ *”
Click “Quantity”
Click “<>”
Click “ Invoice _ Amount”
Save As “Unit Cost”
Verify
Or type the expression in the filter box:
b. Answer: There are no exceptions in the calculation of unit cost x quantity.
C. Products that Metaphor purchases should not exceed $100 per unit. Print any purchases for subsequent follow-up where unit ocst exceeded that amount. (Filter)
In filter box: Type Unit Cost >100
Then click enter:
d. Identify the three vendors from which the largest total dollar accounts payable transactions occurred in 2002 (Summarize and Quick Sort)
Click the Analyze - Summarize to open the summarize window
In the Summarize “on portion of the window. Click on “Vendor”
Type “Summarize On”
Click “OK”
Highlight the Subtotal Field”
Click “OK”
Click “OK”
Type the Name: the Largest Vendors” Click “OK”
Right Click the Invoice Amount Column
Right Click “ Quick Sort Descending”
Largest three vendors are: “10025; 11475, and 12130
e). For each of the three vendors in question d., list any transactions that exceeded $15,000 for subsequent follow-up. Include the vendor number, invoice number, and invoice amount (filter).
Go back to the original file: In the filter box type “VENDOR_NO="10025"OR VENDOR_NO="11475" OR VENDOR_NO="12130”
Click “Enter”
Following vendors are over $15,000; 10025 - $56,767.20; 11475 -$20,386.19 and 12130 = $15,444.80
F. Vendor numbers 10134 and 13440 are related parties to Metaphor. Print any accounts payable transaction with those vendors. (Filter). Also determine the total amount of transactions with vendor 10134. (Total Field)
Type VENDOR_NO=”10134” OR VENDOR_NO=”13440” in the filter box.
Hit “Enter”
Use the total command to determine the total
Click on the INVOICE_AMOUNT
Click Analyze – total fields to obtain a total for all six records
For Vendor No 10134 – in the filter box type VENDOR_NO=”10134”
Hit “Enter”
Click on the INVOICE_AMOUNT
Click Analyze – total field to obtain total for VENDOR NO 10134
