Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

Susie Jacobs provides cleaning service to local businesses. One of her employees is a computer science major and has offered to build a database, but he is not sure how to design an accounting system. She has contacted your company to design a database to help her track her revenues. If she likes the system, she will have you design more of the system. Jacobs' Cleaning Service currently employs 22 students on a part-time basis. She has 47 businesses under contract. Businesses sign up for the service and Susie enters their customer information into the system. Customers call in on a weekly basis if they want to request services (i.e. regular cleaning, carpet cleaning, window cleaning). When a customer call is received, the bookkeeper records the services requested on a service request form. Employees report for work each evening and the supervisor gives them jobs to perform in completing the service requests. The supervisor lists out all of the services to be performed for a business that night and the jobs to be completed by each employee on a service completion form. Susie owns all of the janitorial equipment used in the business and has an inventory of cleaning supplies. In addition to recording the actual hours used to complete each job they are assigned, employees must record the equipment and supplies used  to complete all of their work on the service completion form. In this way, the completion form serves as thebasis for computing employee payroll as well as for reducing inventory balances in supplies and tracking  equipment usage. Each night, when the service is completed and the completion form filled out, employees leave one copy of the service completion form at the business to verify to the business owner that services were performed (something like an invoice) and return a second copy to the bookkeeper who enters the information into an Excel spreadsheet. The company's accounts receivable balance is automatically updated when the service completion form is entered. At the end of each month, the bookkeeper prints customer statements based on information from the service requests and service completion forms. Statements list the service request, service completion and individual services performed during the month as well as the cost for each service. Customers remit their payments by mail. The bookkeeper records these cash receipts. Susie deposits all payments received for a given day in the bank and records the deposit in the Excel-based accounting records showing the checking account number, total amount of the deposit, and associated cash receipts.

Additional Information:

1. Descriptive information about standard services performed by Jacobs' is shown in a separate resource data table.

2. A resource table showing the various employee services/jobs (Cleaning, Supervisory, etc.) that can be performed is also maintained and is used when recording employee services performed for the service completions.

3. Each service completion form lists information for only one business. Several services may be listed on each service completion form. Each service completion for must have at least one employee working on at least one job, but may have more than employee. Some services require no equipment or supplies; others require many different supplies and equipment. Adapted from Stacy E. Kovar, Kansas State University 2

4. Cash receipts are applied to the appropriate service completion form through a procedure in the accounting spreadsheet. Each receipt can apply to more than one service completion form, with each service completion being payable with multiple cash receipts.
5. A sample Service Completion Form is provided at the bottom of this document.

Requirements:


1. Prepare a document or hybrid flowchart that shows all the recording, maintenance and reporting explicitly mentioned above
2. Prepare an REA data model for Jacobs' Cleaning Service revenue cycle.
3. Convert the REA diagram into a set of database tables. Note that you do not have to implement the tables in Access.
4. Prepare a report for Susie's Cleaning Service. Be sure to describe all diagrams and tables.
5. Bill your client for the hours worked by partner (one invoice only).

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M946698

Have any Question? 


Related Questions in Accounting Basics

What is the difference between a significant deficiency and

What is the difference between a significant deficiency and a material weakness as it relates to internal Control? How does the presence of one material deficiency affect the auditor's report on internal controls under t ...

Auerbach enterprisescomplete case 3a auerbach

Auerbach Enterprises Complete: Case 3A (Auerbach Enterprises). Auerbach Enterprises manufactures air conditioners for automobiles and trucks manufactured throughout North America. The company designs its products with fl ...

Assignmentexercise 1 treatment of nsf checkthe bank

Assignment Exercise 1 Treatment Of NSF check The bank statement of Stone Supplies included a $300 NSF check that one of Stone's customer had written to pay for services that were provided by Stone. Required a. Show the e ...

Internet case-citizen-centric reportingalthough citizens

Internet Case-Citizen-Centric Reporting Although citizens should be concerned about the performance of government, in truth, few citizens typically review the financial information provided by their government. In part, ...

1 is a trial balance that gives you the balances to use to

1) is a Trial Balance that gives you the balances to use to prepare the financial statements; 2) is a Template that you can use, note there are drop down choices - but, you can definitely use your own on Excel or similar ...

Problem 3-2 lo 2 simple equity method adjustments

Problem 3-2 (LO 2) Simple equity method adjustments, consolidated worksheet. On January 1, 2015, Paro Company purchases 80% of the common stock of Solar Company for $320,000. Solar has common stock, other paid-in capital ...

On december 31 2017 buffalo company signed a 1137500 note

On December 31, 2017, Buffalo Company signed a $1,137,500 note to Carla Bank. The market interest rate at that time was 12%. The stated interest rate on the note was 10%, payable annually. The note matures in 5 years. Un ...

Individual project instructionsobjectiveyour objective is

Individual Project Instructions OBJECTIVE Your objective is to use analytical tools to understand and improve business performance and to present your analysis using effective data visualizations in a dashboard format. F ...

Accounting theory and contemporary issues individual case

Accounting Theory and Contemporary Issues Individual case study Assignment- Assessment Description - Learning Outcome:  Research and argue a position in regard to a contemporary issue in the accounting profession. Evalua ...

Auditing and professional practice assignmentcase study 1

Auditing and Professional Practice Assignment Case Study 1: Consider each of the following independent situations: (a) City Ltd, a property developer, has several major projects in progress in Brisbane's central business ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro