Grady Wholesale Corporation is a reseller of electronics equipment such as personal computers, peripherals, and software. Grady purchases items in bulk from various manufacturers, repackages them into smaller lots and resells them to retailers for ultimate sale to consumers.
The company maintains its financial records manually. “The books” consist of special journals for sales, purchases of merchandise (made on account), cash receipts, cash disbursements, and a general journal (for all transactions that do not fit into one of the above categories), a general ledger, and subsidiary ledgers for accounts receivable and accounts payable (for merchandise purchases). Grady’s policy is to post entries made in the general journal to the general ledger on a daily basis. Entries made to the special journals (sales, purchases, cash receipts, and cash disbursements) are posted to the general ledger at the end of the month. However, the subsidiary ledgers are updated on a daily basis. Check numbers, sales order numbers, and invoice numbers are used as the reference numbers for posting purposes.
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J. David Spiceland received his MBA at Southern Illinois University and his Ph.D. at University of Arkansas. Dr. Spiceland has been recognized for his teaching, and is active in the AAA.
Jim Sepe received his MBA at the University of California—Berkeley and his Ph.D. at the University of Washington. He has received numerous teaching awards at Santa Clara University.
Mark Nelson is the Eleanora and George Landew Professor of Accounting at Cornell University’s Johnson Graduate School of Management, where he has been teaching Intermediate Accounting at the MBA level out of Spiceland's Intermediate Accounting for several years. He received his BBA degree from Iowa State University and his MA and PhD degrees from Ohio State University.
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Book Description McGraw-Hill/Irwin, 2010. Paperback. Book Condition: New. 6. Bookseller Inventory # DADAX0077328779