Summary ACC 5310 Accounting Information Systems , Problem Exercise 1 W1 A3

Running header: W1 A3 2 CHAPTER 1 Accounting Information Systems: An Overview Problem 1.5 The Howard Leasing Company is a privately held, medium-sized business that purchases school busses and leases them to school districts, churches, charitable organizations, and other businesses. To better serve its customers and, more important, to protect its investment in the busses, Howard operates a large maintenance facility to maintain and repair leased vehicles. Howard’s annual sales for last year were $37 million, with a net income of $2.9 million. Howard employs approximately 150 people. You were recently hired by Howard, and you are eager to prove your worth to the company. Your supervisor just called you into her office and asked you to prepare an accounts receivable aging report as of the end of the year for use in the upcoming audit of the company’s financial statements.