EX 5-22 Computerized Accounting Systems Essay Example | Topics and Well Written Essays - 750 words - 1

EX 5-22 Computerized Accounting Systems - Essay Example Control accounts are set up from other fiscal summaries and before the control records can be shut, a compromise articulation is normally arranged to guarantee that all the aggregates of all qualities concur (Warren, Reeve and Duchac, 2012). The unending stock framework refreshes the records as considered fit to be contrasted with the occasional stock framework where records are refreshed intermittently. In this way in the unending stock framework, the updates are made after each exchange along these lines giving progressively exact figures.The figure introduced as the gross benefit will in this way change if a never-ending framework was utilized. This is because of the way that all exchanges made would have just been recorded. Why aren’t uncommon diary sums presented on control accounts toward the month's end in an electronic bookkeeping framework? An electronic bookkeeping framework calls for posting of the considerable number of records and aggregates on the PC framework. In any case, there are some uncommon diaries that don't call for posting of the sums toward the month's end is because of potential outcomes of blunders. Control accounts are set up from other fiscal reports and before the control records can be shut, a compromise articulation is normally arranged to guarantee that all the sums of all qualities concur (Warren, Reeve and Duchac, 2012). The accompanying information were removed from the bookkeeping records of Danhof Company for the year finished June 30, 2012:  Merchandise stock, July 1, 2011, $ 250,000  Merchandise stock, June 30, 2012, 325,000 Purchasesâ â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â 2,100,000 Buys returns and allowancesâ â â â â â â â â â â â â â â â â â â â â â â â â â â â  â â â â 50,000 Buys discountsâ â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â  â â â â 39,000 Salesâ â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â 3,250,000 Cargo inâ â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â  â â â â 12,500