Sua accounting project help

System Understanding Aid (SUA) Introduction

SUA Contents

Instructions and Flowcharts

Reference Book

Documents Folder

Journals

Ledgers

Requirements

Read pages 3 - 12 (stopping at Waren’s Month‐End Procedures) in the “Instructions, Flowcharts, and Ledgers” book.

Follow Option 1 – Cycle-Based Approach. First process the Revenue Cycle transactions and then the Expenditure Cycle transactions. Stop before the Month‐End Procedures, i.e., do not perform the month‐end and yearend procedures.

Use Transaction List A (Document No. 1 with an A at the bottom left corner).

Waren Sports Supply

Business

a distributor of sporting goods to colleges and universities

Personnel

Ray Kramer : Salaried manager

Jim Adams: Hourly employee

Nancy Ford: Hourly employee

Inventory – Periodic

Depreciation - Straight-line

Customer and Vendor credit terms (payment discounts)

Reference Book

Flowcharting Help

Business Processes

Explanations and examples of completed source documents

Documents Folder

Doc #1: Use Transaction list A (Blue)

First complete the revenue transactions: 1, 2, 5, 6, 10, 12, 13, 14, 15, followed by the expenditure transactions: 3, 4, 7, 8, 9, 11, 16, 17, 18, 19, 20.

Doc #2: Chart of General Ledger Accounts

Will need this information to record journal entries and post to ledgers.

Doc #3: Price lists

Will need product price (when you record sales) and cost (when you record purchases) information.

Doc #4 – 27: Source documents

Note

Doc No.

Transaction #1

Means you need to prepare documents

Instructions & Flowcharts page for relevant flowchart

SAMPLE

Check flowchart again…

Transaction #2

Flowchart page 21

Cash Receipts Prelist

Charge Sale Invoice #730 ?

Cash Receipts Prelist

Flowchart page 21

Waren’s credit terms:

Customers: 2/10, Net 30

AR Sub Ledger

AR Sub Ledger

Check Flowchart again

NF: Nancy Ford’s independent Verification

7-step Process to Record a Transaction (Instructions page 11-12)

Read and analyze the transaction.

Find the appropriate flowchart(s) on pages 18 through 24 of the Instruction & Flowcharts book. Carefully read and follow all procedures in the flowcharts.

Locate and prepare appropriate documents if any are necessary for this transaction.

Record the transaction in journals if necessary. Use general journals only when no other journal is appropriate (only for one transaction: the write-off for transaction #12).

Post individual items to subsidiary ledgers if necessary. Then, place a check mark in the post reference columns to indicate that journal items have been posted.

Not required: Attempt to file the document in appropriate file tab to stay organized, but this will not be graded.

Confirm that you have completed all steps in the transaction and related flowchart(s) before proceeding to the next transaction. First complete the revenue transactions: 1, 2, 5, 6, 10, 12, 13, 14, 15, followed by the expenditure transactions: 3, 4, 7, 8, 9, 11, 16, 17, 18, 19, 20.