a. Which of the following would be recordable transactions in an accounting information system? For each item that would not be a recordable transaction, explain why not.

i. Purchasing land with a down payment and a note payable.

ii. Verifying an increase in the market value of land.

iii. Establishing an exclusive relationship with a raw material supplier.

iv. Estimating the amount of warranty expense for the next accounting period.

v. Negotiating with an employees union for wage increases

b. How will principles-based accounting influence the design of accounting information systems? The steps in the accounting cycle?

c. Use EDGAR to obtain the 10-K reports for Barnes & Noble dated 1 April 2009 and 2 April 2008. Compare their financial statements and comment on which company is stronger.

Answer rating: 100% (QA)

a Recordable and Non recordable transaction in an accounting information system i Purchasing a land with a down payment and a note payable is a Record... View the full answer