SUA ACTG 474 UIC EXAM QUESTIONS WITH COMPLETE ANSWERS

SUA ACTG 474 UIC EXAM
QUESTIONS WITH COMPLETE
ANSWERS
Expenditure Cycle in SUA - Credit Purchase Step 5 - ANSWER-Receive vendor
invoice

Payroll Cycle in SUA Step 1 - ANSWER-Hourly Employees work and fill in timecards

Payroll Cycle in SUA Step 2 - ANSWER-Approve hours on time cards and give to
accounting department

Payroll Cycle in SUA Step 3 - ANSWER-Calculate payroll amounts

Payroll Cycle in SUA Step 4 - ANSWER-Record in Payroll Journal and Employee
Earnings Subsidiary Ledger

Payroll Cycle in SUA Step 5 - ANSWER-Generate paychecks

Payroll Cycle in SUA Step 6 - ANSWER-Review and sign paychecks

Payroll Cycle in SUA Step 7 - ANSWER-Distribute paychecks to employees

Payroll Cycle in SUA Step 8 - ANSWER-Make the entry in the Cash Disbursements
Journal
Revenue Cycle in SUA - Credit Sale Step 1 - ANSWER-Customer Purchase Order

Revenue Cycle in SUA - Credit Sale Step 3 - ANSWER-Bill of Lading

Revenue Cycle in SUA - Credit Sale Step 2 - ANSWER-Approve Credit

Revenue Cycle in SUA - Credit Sale Step 4 - ANSWER-Sales Invoice

Revenue Cycle in SUA - Credit Sale Step 6 - ANSWER-Pack and ship order

Revenue Cycle in SUA - Credit Sale Step 5 - ANSWER-Review and approve
documents

Revenue Cycle in SUA - Credit Sale Step 7 - ANSWER-Mail invoice to customer

Revenue Cycle in SUA - Credit Sale Step 8 - ANSWER-Make the entry in the Sales
Journal and then update the A/R Subsidiary Ledger

Expenditure Cycle in SUA - Credit Purchase Step 1 - ANSWER-Prepare purchase
order (PO)