Dahlia antique Business sells antiques at antique fairs. Dahlia, the owner shops, and buys inventory at night
Question:
Dahlia antique Business sells antiques at antique fairs. Dahlia, the owner shops, and buys inventory at night markets and antique shops. Each time a purchase takes place, Dahlia, the store owner, will record the buyer's name and address, details, and the price of the item purchased as well as the amount spent. After returning home, Dahlia will clean up, research, provide inventory numbers and place a sale price for each item in inventories. Dahlia buys price tags and exhibition supplies from operating businesses at night markets and antique exhibitions. All inventory purchases and exhibition supplies are paid for using cash or a check from a bank account in the name of Dahlia Antique Business. Cash that is received from customers is also deposited into the same bank account. Dahlia rents a kiosk at antique exhibitions three times a year.
A deposit must be paid for the rental, while the balance of the rent must be paid at the beginning of the exhibition. Dahlia recorded the deposit and final payment, as well as the name and address of the exhibition organizer, in the same worksheet he records the purchase of inventory and supplies.
Be required:
a. Draw an REA (Resources, Events, Agents) diagram related to the purchase of inventory and supplies, kiosk rental, and payment of all items for the Dahlia Antique Business.
b. Build tables to implement the above REA diagram into the database and get in touch. Specify the primary key, foreign key, and other appropriate fields for each schedule.
c. Assuming that the Purchase activity and the Cash Payment activity are 1: 1 related, discuss the effect of foreign-keyed table selection on the recording process payments to suppliers.
Financial accounting
ISBN: 978-0136108863
8th Edition
Authors: Walter T. Harrison, Charles T. Horngren, William Bill Thomas