Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use Organization : New York Times It contains accounts such as Assets --> checking and saving Expenses heads are Electricity, Groceries, Phone, Rent Taxes-->Federal, Healthcare

Use Organization : New York Times

It contains accounts such as Assets --> checking and saving Expenses heads are Electricity, Groceries, Phone, Rent Taxes-->Federal, Healthcare and Provincial Income has subhead salary If organization is Sale and Manufacturing then there is need to create heads Sales and Manufacturing. Under such heads amounts are spent in manufacturing and earning is managed using Sale.

Prepare chart of accounts with appropriate heads and sub-heads Prepare supporting tables (child tables) where transactions are stored. Each head contains derived values from supporting tables. Organization has to mention accumulated amounts in chart of accounts heads Need to show around 5 records of datasets of all supporting tables (child tables) through which chart of accounts contain all accumulated amounts.

Organization or enterprise wants to see how much electric bills are paid, how much has been spent for manufacturing and how much other expenses are done. Similarly, how much sale has been done? All such amounts should come from your proposed transactional supporting tables. You need to indicate all possible keys and relationships with possible attributes. Additional constraints are also need to be applied with the help of commands.

In your submission, you can identify which type or enterprise you have chosen and how you produce dataset. Submissions: 1-Describe scenario of an organization 2-Tables structures with all possible columns, keys and constraints 3-Tables Dataset

A sample chart of accounts can be as follows

image text in transcribed

Balance Name 1000 - Petty Cash 1010 - Checking 1100 - Savings 1200 - Accounts Receivable 1230 - Prepaid Expenses 1300 - Inventory of tems for Sale 1425 - Office Furnture & Foxtures 1435 - Vehicles 1460 - Accumulated depreciation - Other 1810 - Deposts, Long-term 2000 - Accounts Payable 2010 - Pending tem Receipts 2050 - Sales Tax Payable 2070 - Accrued interest Payable 2090 - Customer Deposits 2095 - Current Portion Long-Term Debt 2210 - Payrol Liabity: FUTA 2215 - Payroll Liability State, Local 2220 - Payrol Liability: SUTA 2310 - Credit Card 2110 - Employee Payroll Liabilities 2600 - Long-Term Notes Payable - Other 2610 - Less Current Portion Long-Term Debt 3000 - Owner's Equity - Other 3180 - Contributions by Owner 3190 - Distributions to Owner Type Cash Account Bank Bank Accounts Receivable Other Current Asset Inventory Asset Fored Asset Fored Asset Fixed Asset Other Asset Accounts Payable Current Liability Current Liability Current Liability Current Liability Current Liability Current Liability Current Liability Current Liability Credit Card/Line of Credit Payroll Liability Long-term Liability Long-term Liability Equity Equity Equity 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditors Guide To IT Auditing

Authors: Richard E. Cascarino

2nd Edition

1118147618, 978-1118147610

More Books

Students also viewed these Accounting questions

Question

5. Describe the visual representations, or models, of communication

Answered: 1 week ago