Transactions - Week 4 | Manual Accounting Practice Set | iCandy, Australasian Edition 3

Record transactions that occurred throughout the fourth week of June in the company's books. Get feedback, grading, and instructions for week 4. Use special journals and general journals to record transactions. Post entries recorded in the journals to the appropriate ledger accounts according to the company's accounting policies and procedures.

8/31/2017 Transactions - week 4
https://www.perdisco.com/elms/qsam/html/qsam.aspx 1/17
Your progress
Completed: 36% (approximately)
Remaining pages will take: up to 12.25 hours
The time frames we provide are a guide only. It may
take you more or less time to complete each step.
Your grading
Your grading outcome (still in progress)
Awarded Total
Points (prior to this page) 382 384
Points (on this page) 88 88
Points (after this page) − 578
Total 470 1,050
Manual Accounting Practice Set
iCandy, Australasian Edition 3
Feedback: Transactions - week 4
This is a feedback page. Please review this page carefully because later pages in this practice set build on the feedback
provided here. After you have reviewed your feedback page, click Continue at the bottom of this page to move on to the
next page of your practice set.
You are now asked to record transactions that occurred throughout the fourth week of June in the company's books. The
week 4 transactions are listed below:
Week 4
Date Transaction description
22 Paid the full amount owing to Hershel's, Cheque No. 705. This payment relates to the credit purchase that was
made in the previous week.
22 Sold 84 boxes of Lollipops to Sugar-hi for $328 each, Invoice No. 206.
23 Mercury Square paid the full amount owing on their account.
23 Ordered 20 boxes of Lollipops from Gillard Wholesalers for $224 each. Agreed terms with Gillard Wholesalers are
2/10, n/30.
25 Paid sales staff wages of $2,265 for the week up to and including yesterday, Cheque No. 706.
26 Delivered 21 boxes of Party Mix to Candy Rush for $584 each, Invoice No. 207. These items were ordered on the
21st.
28 Made cash sale of 19 boxes of Hazelnut Toffee for $456 each.
28 Returned 5 faulty boxes of Fruit Drops, originally purchased for $240 each, to Brennan Imports Group. Received a
Credit Note for $1,200.
Instructions for week 4
Record all week 4 transactions in the relevant journals.1)

8/31/2017 Transactions - week 4
https://www.perdisco.com/elms/qsam/html/qsam.aspx 2/17
ARC - Sugar-hi
ARC - Candy Rush
Note that special journals must be used where applicable. Any transaction that cannot be recorded in a special journal
should be recorded in the general journal.
Post entries recorded in the journals to the appropriate ledger accounts according to the company's accounting policies
and procedures.
Note that the relevant totals of the special journals will be posted to the general ledger accounts at the end of the
month. You will enter this after you prepare the Bank Reconciliation Statement.
Update inventory cards on a daily basis.
Back-On-Track functionality
Please note that any answers from previous pages carried through onto this page (either on the page or in a popup
information page) have been reset, if necessary, to the correct answers. Your particular answers from previous
pages are no longer shown.
Remember:
Enter all answers to the nearest whole dollar.
There may be entries in the general journal that require posting to both a control account and a subsidiary ledger. In
these cases, after you have posted to both ledgers, you should enter the reference for both the general ledger
account and the subsidiary ledger account in the Post Ref. column to indicate that you have posted to both accounts.
For example, if the reference number for the control account is 110 and the reference number for the subsidiary
ledger account is 110-1, you should type '110/110-1' into the Post Ref. column.
When completing the inventory cards, you may enter a positive or negative number into the Units and Total Cost
columns but all unit costs must be entered as positive numbers into the Unit Cost columns.
You are also required to apply the journals and ledgers instructions and the inventory cards instructions provided in
previous weeks.
Before pressing the Submit answers button, we recommend that you click the Show All tab and check that all relevant
accounting records have been completed.
Special Journals General Journal Subsidiary Ledgers General Ledger Inventory
(Q=601.salesJournalWeek4)
SALES JOURNAL
Date Account Invoice
No.
Post
Ref.
Accounts
Receivable
Cost of
Sales
Jun 11 ARC - Mercury Square 204 110-3 6,384 3,696
Jun 16 ARC - Sugar-hi 205 110-5 5,840 2,560
Jun 22 206 110-5 27552 16384
Jun 26 207 110-6 12264 5952
Jun
Jun
Feedback
SALES JOURNAL
Date Account Invoice
No.
Post
Ref.
Accounts
Receivable
Cost of
Sales
Jun 11 ARC - Mercury Square 204 110-3 6,384 3,696
2)
3)
Show All

8/31/2017 Transactions - week 4
https://www.perdisco.com/elms/qsam/html/qsam.aspx 3/17
ARC - Mercury Square
Sales Revenue
Jun 16 ARC - Sugar-hi 205 110-5 5,840 2,560
Jun 22 ARC - Sugar-hi 206 110-5 27,552 16,384
Jun 26 ARC - Candy Rush 207 110-6 12,264 5,952
(Q=602.purchasesJournalWeek4)
PURCHASES JOURNAL
Date Account Terms Post
Ref.
Accounts
Payable
Jun 8 APC - Spud's Confectionery net 30 210-6 2,496
Jun 17 APC - Hershel's 2/10, n/30 210-1 2,240
Jun 17 APC - Brennan Imports Group net 30 210-5 4,560
Jun
Jun
Jun
Jun
Feedback
There are no relevant entries in the purchases journal for this week.
(Q=603.cashReceiptsJournalWeek4)
CASH RECEIPTS JOURNAL
Note: In order to receive full points, for each transaction you must select an account under the column labelled 'Account',
as indicated under the additional instructions above. Since all transactions in this journal affect the Cash at Bank account,
you are asked to enter the name of the appropriate account credited in these transactions into the Account column so that
the type of transaction can be determined by the name of the account entered into this column.
Date Account Post
Ref.
Debit Credit Cost of
SalesCash at
Bank
Discount
Allowed
Sales
Revenue
Accounts
Receivable
Other
Accounts
Jun 5 ARC - Sugar-hi 110-5 2,253 2,253
Jun 13 ARC - Candy Man 110-1 2,736 304 3,040
Jun 14 Sales Revenue X 7,344 7,344 3,312
Jun 19 ARC - Candy Rush 110-6 2,700 2,700
Jun 21 Sales Revenue X 20,160 20,160 13,200
Jun 23 110-3 17907 0 0 17907 0 0
Jun 28 400 8664 0 8664 0 0 5016
Jun
Jun
Jun

8/31/2017 Transactions - week 4
https://www.perdisco.com/elms/qsam/html/qsam.aspx 4/17
APC - Hershel's
Wages Expense
Jun
Feedback
CASH RECEIPTS JOURNAL
Date Account Post
Ref.
Debit Credit Cost of
SalesCash at
Bank
Discount
Allowed
Sales
Revenue
Accounts
Receivable
Other
Accounts
Jun 5 ARC - Sugar-hi 110-5 2,253 2,253
Jun 13 ARC - Candy Man 110-1 2,736 304 3,040
Jun 14 Sales Revenue X 7,344 7,344 3,312
Jun 19 ARC - Candy Rush 110-6 2,700 2,700
Jun 21 Sales Revenue X 20,160 20,160 13,200
Jun 23 ARC - Mercury Square 110-3 17,907 17,907
Jun 28 Sales Revenue X 8,664 8,664 5,016
(Q=604.cashPaymentsJournalWeek4)
CASH PAYMENTS JOURNAL
Note: In order to receive full points, for each transaction you must select an account under the column labelled 'Account',
as indicated under the additional instructions above. Since all transactions in this journal affect the Cash at Bank account,
you are asked to enter the name of the appropriate account debited in these transactions into the Account column so that
the type of transaction can be determined by the name of the account entered into this column.
Date Account Cheque
No.
Post
Ref.
Debit Credit
Accounts
Payable Inventory Wages
Expense
Other
Accounts
Cash at
Bank
Discount
Received
Jun 1 Prepaid Rent 695 140 9,600 9,600
Jun 2 Office Supplies 696 130 506 506
Jun 4 Wages Payable 697 220 517 1,143 1,660
Jun 6 Electricity Payable 698 221 755 755
Jun 7 APC - Spud's Confectionery 699 210-6 3,862 3,862
Jun 8 APC - East Tangiers Cooperative 700 210-2 2,100 2,079 21
Jun 11 APC - Hershel's 701 210-1 4,416 4,416
Jun 11 Wages Expense 702 X 1,766 1,766
Jun 13 APC - Brennan Imports Group 703 210-5 2,314 2,314
Jun 18 Wages Expense 704 X 2,343 2,343
Jun 22 705 210-1 2240 0 0 0 2195 45
Jun 25 706 516 0 0 2265 0 2265 0
Jun
Jun

8/31/2017 Transactions - week 4
https://www.perdisco.com/elms/qsam/html/qsam.aspx 5/17
APC - Brennan Imports Group
Inventory
Jun
Jun
Feedback
CASH PAYMENTS JOURNAL
Date Account Cheque
No.
Post
Ref.
Debit Credit
Accounts
Payable Inventory Wages
Expense
Other
Accounts
Cash
at
Bank
Discount
Received
Jun 1 Prepaid Rent 695 140 9,600 9,600
Jun 2 Office Supplies 696 130 506 506
Jun 4 Wages Payable 697 220 517 1,143 1,660
Jun 6 Electricity Payable 698 221 755 755
Jun 7 APC - Spud's Confectionery 699 210-6 3,862 3,862
Jun 8 APC - East Tangiers Cooperative 700 210-2 2,100 2,079 21
Jun 11 APC - Hershel's 701 210-1 4,416 4,416
Jun 11 Wages Expense 702 X 1,766 1,766
Jun 13 APC - Brennan Imports Group 703 210-5 2,314 2,314
Jun 18 Wages Expense 704 X 2,343 2,343
Jun 22 APC - Hershel's 705 210-1 2,240 2,195 45
Jun 25 Wages Expense 706 X 2,265 2,265
(Q=605.generalJournalWeek4)
GENERAL JOURNAL
Date Account and Explanation Post
Ref. Debit Credit
Jun 21 Sales Returns and Allowances 401 1,368
Jun 21 ARC - Mercury Square 110/110-3 1,368
(sales return)
Jun 21 Inventory 120 792
Jun 21 Cost of Sales 500 792
(sales return)
Jun 28 210-5 1200 0
28 120 0 1200
Jun

8/31/2017 Transactions - week 4
https://www.perdisco.com/elms/qsam/html/qsam.aspx 6/17
Jun
Feedback
GENERAL JOURNAL
Date Account and Explanation Post
Ref. Debit Credit
Jun 21 Sales Returns and Allowances 401 1,368
Jun 21 ARC - Mercury Square 110/110-3 1,368
(sales return)
Jun 21 Inventory 120 792
Jun 21 Cost of Sales 500 792
(sales return)
Jun 28 APC - Brennan Imports Group 210/210-5 1,200
Jun 28 Inventory 120 1,200
(purchase return)
(Q=610-110-3.AcctsRec3_week4)
SUBSIDIARY LEDGERS
Account: ARC - Mercury Square
Account No. 110-3
Date Description Ref. Debit Credit Balance
May 31 Balance 12,891 DR
Jun 11 Credit sale SJ 6,384 19,275 DR
Jun 21 Sales return GJ 1,368 17,907 DR
Jun 23 Cash Receipt CRJ 0 17907 0
Jun
Jun
Feedback

8/31/2017 Transactions - week 4
https://www.perdisco.com/elms/qsam/html/qsam.aspx 7/17
Account: ARC - Mercury Square
Account No. 110-3
Date Description Ref. Debit Credit Balance
May 31 Balance 12,891 DR
Jun 11 Credit sale SJ 6,384 19,275 DR
Jun 21 Sales return GJ 1,368 17,907 DR
Jun 23 Repayment CRJ 17,907 0
(Q=610-110-5.AcctsRec5_week4)
Account: ARC - Sugar-hi
Account No. 110-5
Date Description Ref. Debit Credit Balance
May 31 Balance 2,253 DR
Jun 5 Repayment CRJ 2,253 0
Jun 16 Credit sale SJ 5,840 5,840 DR
Jun 22 Credit Sale SJ 27552 0 33392 DR
Jun
Jun
Feedback
Account: ARC - Sugar-hi
Account No. 110-5
Date Description Ref. Debit Credit Balance
May 31 Balance 2,253 DR
Jun 5 Repayment CRJ 2,253 0
Jun 16 Credit sale SJ 5,840 5,840 DR
Jun 22 Credit sale SJ 27,552 33,392 DR
(Q=610-110-6.AcctsRec6_week4)
Account: ARC - Candy Rush
Account No. 110-6
Date Description Ref. Debit Credit Balance
May 31 Balance 3,583 DR
Jun 19 Repayment CRJ 2,700 883 DR
Jun 26 Credit Sales SJ 12264 0 13147 DR
Jun
Jun

8/31/2017 Transactions - week 4
https://www.perdisco.com/elms/qsam/html/qsam.aspx 8/17
Feedback
Account: ARC - Candy Rush
Account No. 110-6
Date Description Ref. Debit Credit Balance
May 31 Balance 3,583 DR
Jun 19 Repayment CRJ 2,700 883 DR
Jun 26 Credit sale SJ 12,264 13,147 DR
(Q=610-210-1.AcctsPay1_week4)
Account: APC - Hershel's
Account No. 210-1
Date Description Ref. Debit Credit Balance
May 31 Balance 4,416 CR
Jun 11 Repayment CPJ 4,416 0
Jun 17 Credit purchase PJ 2,240 2,240 CR
Jun 22 Cash Repayment CPJ 2240 0 0
Jun
Jun
Feedback
Account: APC - Hershel's
Account No. 210-1
Date Description Ref. Debit Credit Balance
May 31 Balance 4,416 CR
Jun 11 Repayment CPJ 4,416 0
Jun 17 Credit purchase PJ 2,240 2,240 CR
Jun 22 Repayment CPJ 2,240 0
(Q=610-210-4.AcctsPay4_week4)
Account: APC - Gillard Wholesalers
Account No. 210-4
Date Description Ref. Debit Credit Balance
May 31 Balance 4,294 CR
Jun
Jun
Jun

8/31/2017 Transactions - week 4
https://www.perdisco.com/elms/qsam/html/qsam.aspx 9/17
Feedback
There are no relevant entries in the Gillard Wholesalers ledger for this week.
(Q=610-210-5.AcctsPay5_week4)
Account: APC - Brennan Imports Group
Account No. 210-5
Date Description Ref. Debit Credit Balance
May 31 Balance 2,314 CR
Jun 13 Repayment CPJ 2,314 0
Jun 17 Credit purchase PJ 4,560 4,560 CR
Jun 28 Purchase Return GJ 1200 0 3360 CR
Jun
Jun
Feedback
Account: APC - Brennan Imports Group
Account No. 210-5
Date Description Ref. Debit Credit Balance
May 31 Balance 2,314 CR
Jun 13 Repayment CPJ 2,314 0
Jun 17 Credit purchase PJ 4,560 4,560 CR
Jun 28 Purchase return GJ 1,200 3,360 CR
(Q=620-100.CashAtBank_week4)
GENERAL LEDGER
Account: Cash at Bank
Account No. 100
Date Description Ref. Debit Credit Balance
May 31 Balance 70,440 DR
Jun
Jun
Jun
Feedback
There are no relevant entries in the Cash at Bank ledger for this week.
(Q=620-110.AcctsRecControl_week4)

8/31/2017 Transactions - week 4
https://www.perdisco.com/elms/qsam/html/qsam.aspx 10/17
Account: ARC - Accounts Receivable Control
Account No. 110
Date Description Ref. Debit Credit Balance
May 31 Balance 27,786 DR
Jun 21 Sales return from Mercury Square GJ 1,368 26,418 DR
Jun
Jun
Jun
Feedback
There are no relevant entries in the Accounts Receivable Control ledger for this week.
(Q=620-120.Inventory_week4)
Account: Inventory
Account No. 120
Date Description Ref. Debit Credit Balance
May 31 Balance 86,608 DR
Jun 21 Sales return from Mercury Square GJ 792 87,400 DR
Jun 28 Purchase Retrn GJ 0 1200 86200 DR
Jun
Jun
Feedback
Account: Inventory
Account No. 120
Date Description Ref. Debit Credit Balance
May 31 Balance 86,608 DR
Jun 21 Sales return from Mercury Square GJ 792 87,400 DR
Jun 28 Purchase return to Brennan Imports Group GJ 1,200 86,200 DR
(Q=620-210.AcctsPayControl_week4)
Account: APC - Accounts Payable Control
Account No. 210
Date Description Ref. Debit Credit Balance
May 31 Balance 46,440 CR
Jun 28 Purchase Return GJ 1200 0 45240 CR
Jun

8/31/2017 Transactions - week 4
https://www.perdisco.com/elms/qsam/html/qsam.aspx 11/17
Jun
Feedback
Account: APC - Accounts Payable Control
Account No. 210
Date Description Ref. Debit Credit Balance
May 31 Balance 46,440 CR
Jun 28 Purchase return to Brennan Imports Group GJ 1,200 45,240 CR
(Q=620-400.SalesRevenue_week4)
Account: Sales Revenue
Account No. 400
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun
Jun
Jun
Feedback
There are no relevant entries in the Sales Revenue ledger for this week.
(Q=620-402.DiscountRecd_week4)
Account: Discount Received
Account No. 402
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun
Jun
Jun
Feedback
There are no relevant entries in the Discount Received ledger for this week.
(Q=620-500.CostOfSales_week4)
Account: Cost of Sales
Account No. 500
Date Description Ref. Debit Credit Balance

8/31/2017 Transactions - week 4
https://www.perdisco.com/elms/qsam/html/qsam.aspx 12/17
May 31 Balance 0
Jun 21 Sales return from Mercury Square GJ 792 792 CR
Jun
Jun
Jun
Feedback
There are no relevant entries in the Cost of Sales ledger for this week.
(Q=620-516.WagesExpense_week4)
Account: Wages Expense
Account No. 516
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun
Jun
Jun
Feedback
There are no relevant entries in the Wages Expense ledger for this week.
(Q=620-573.DiscountAllowed_week4)
Account: Discount Allowed
Account No. 573
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun
Jun
Jun
Feedback
There are no relevant entries in the Discount Allowed ledger for this week.
(Q=630.Inventory1_week4)
INVENTORY CARDS
Boxes Of Fruit Drops

8/31/2017 Transactions - week 4
https://www.perdisco.com/elms/qsam/html/qsam.aspx 13/17
Date Purchases Cost of Sales Balance
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
May 31 23 184 4232
16 240 3840
Jun 14 18 184 3312 5 184 920
16 240 3840
Jun 17 19 240 4560 5 184 920
35 240 8400
Jun 28 -5 240 -1200 0 0 0 5 184 920
0 0 0 30 240 7200
Jun
Jun
Jun
Feedback
Boxes Of Fruit Drops
Date
Purchases Cost of Sales Balance
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
May 31 23 184 4232
16 240 3840
Jun 14 18 184 3312 5 184 920
16 240 3840
Jun 17 19 240 4560 5 184 920
35 240 8400

8/31/2017 Transactions - week 4
https://www.perdisco.com/elms/qsam/html/qsam.aspx 14/17
Jun 28 -5 240 -1200 5 184 920
30 240 7200
(Q=630.Inventory3_week4)
Boxes Of Hazelnut Toffee
Date
Purchases Cost of Sales Balance
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
May 31 87 264 22968
Jun 11 14 264 3696 73 264 19272
Jun 21 -3 264 -792 76 264 20064
Jun 28 0 0 0 19 264 5016 57 264 15048
0 0 0 0 0 0
Jun
Jun
Jun
Feedback
Boxes Of Hazelnut Toffee
Date
Purchases Cost of Sales Balance
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
May 31 87 264 22968
Jun 11 14 264 3696 73 264 19272
Jun 21 -3 264 -792 76 264 20064

8/31/2017 Transactions - week 4
https://www.perdisco.com/elms/qsam/html/qsam.aspx 15/17
Jun 28 19 264 5016 57 264 15048
(Q=630.Inventory4_week4)
Boxes Of Party Mix
Date
Purchases Cost of Sales Balance
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
May 31 22 256 5632
19 320 6080
Jun 16 10 256 2560 12 256 3072
19 320 6080
Jun 26 0 0 0 12 256 3072 10 320 3200
9 320 2880 0 0 0
Jun
Jun
Jun
Feedback
Boxes Of Party Mix
Date
Purchases Cost of Sales Balance
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
May 31 22 256 5632
19 320 6080
Jun 16 10 256 2560 12 256 3072
19 320 6080

8/31/2017 Transactions - week 4
https://www.perdisco.com/elms/qsam/html/qsam.aspx 16/17
Jun 26 12 256 3072 10 320 3200
9 320 2880
(Q=630.Inventory5_week4)
Boxes Of Lollipops
Date
Purchases Cost of Sales Balance
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
May 31 63 192 12096
Jun 8 13 192 2496 76 192 14592
Jun 17 10 224 2240 76 192 14592
10 224 2240
Jun 22 0 0 0 76 192 14592 2 224 448
8 224 1792 0 0 0
Jun
Jun
Jun
Feedback
Boxes Of Lollipops
Date
Purchases Cost of Sales Balance
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
May 31 63 192 12096
Jun 8 13 192 2496 76 192 14592

8/31/2017 Transactions - week 4
https://www.perdisco.com/elms/qsam/html/qsam.aspx 17/17
Jun 17 10 224 2240 76 192 14592
10 224 2240
Jun 22 76 192 14592 2 224 448
8 224 1792
Manual Accounting Practice Set
iCandy, Australasian Edition 3 (VSA3q)
© 2009 - 2014 Perdisco / latin /. v., learn thoroughly
http://www.perdisco.com
Terms Of Use | Privacy Policy | Thursday, August 31, 2017, 05:08