End of month posting

Learn how to perform the end of month posting procedure in Manual Accounting Practice Set of iCandy, Australasian Edition 3. Transfer the totals from the special journals to the appropriate general ledger accounts.

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Manual Accounting Practice Set
iCandy, Australasian Edition 3
Feedback: End of month posting
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Now that you have completed the June bank reconciliation process, you are ready to perform the end of month posting procedure. The
purpose of this end of month posting is to transfer the totals from the special journals to the appropriate general ledger accounts so that the
balances in those ledger accounts reflect all of the transactions that occurred throughout the period.
Instructions for end of month posting
Total the remaining columns in the special journals. Record the amount in the Total row of each journal.
Post the totals of the remaining columns in the special journals to their corresponding ledger account. To confirm that the posting has
been performed, a posting reference is recorded in the last row of the special journals. If the total of a column is not required to be
posted, you need to record an X in the post reference field for that column.
Record the final unadjusted balance of each ledger account in the Unadjusted Balance row of each ledger, even for ledgers with a
balance of zero. Although each ledger already has a running balance, the Unadjusted Balance row must still be filled out in order to
receive full points.
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Special Journals General Journal Subsidiary Ledgers General Ledger
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(Q=811.salesJournalEndMonth)
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 ARC - Sugar-hi 206 110-5 27,552 16,384
Jun 26 ARC - Candy Rush 207 110-6 12,264 5,952
Jun
Jun
Jun
Jun
Total 52040 28592
Post Reference ( 110 ) / ( 400 ) ( 500 ) / ( 120 )
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
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
Total 52,040 28,592
Post Reference (110)/(400) (500)/(120)
(Q=812.purchasesJournalEndMonth)
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 29 APC - Gillard Wholesalers 2/10, n/30 210-4 4,480
Jun
Jun
Jun
Jun
Total 13776

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Post Reference ( 120 ) / ( 210 )
Feedback
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 29 APC - Gillard Wholesalers 2/10, n/30 210-4 4,480
Total 13,776
Post Reference (120)/(210)
(Q=813.cashReceiptsJournalEndMonth)
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
Jun 29 ARC - Central Candy 110-4 3,857 3,857
Jun 29 Sales Revenue X 5,712 5,712 3,080
Jun 30 ARC - Candy Rush 110-6 -2,700 -2,700
Jun 30 Interest Revenue 403 562 562
Jun
Jun
Jun
Jun
Jun
Jun
Total 69,195 304 41880 27057 562 24608
Post Reference (100) ( 573 ) ( 400 ) ( 110 ) ( X ) ( 500 ) / ( 120 )
Feedback

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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
Jun 29 ARC - Central Candy 110-4 3,857 3,857
Jun 29 Sales Revenue X 5,712 5,712 3,080
Jun 30 ARC - Candy Rush 110-6 -2,700 -2,700
Jun 30 Interest Revenue 403 562 562
Total 69,195 304 41,880 27,057 562 24,608
Post reference (100) (573) (400) (110) (X) (500)/(120)
(Q=814.cashPaymentsJournalEndMonth)
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
Jun 30 Inventory 707 X 3,328 3,328
Jun 30 Salary Expense 708 545 5,300 5,300
Jun 30 Bank Charges X 572 11 11
Jun
Jun
Jun
Jun
Jun
Jun

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Total 14932 3328 6891 17315 42,400 66
Post Reference ( 210 ) ( 120 ) ( 516 ) ( X ) (100) ( 402 )
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
Jun 30 Inventory 707 X 3,328 3,328
Jun 30 Salary Expense 708 545 5,300 5,300
Jun 30 Bank Charges X 572 11 11
Total 14,932 3,328 6,891 17,315 42,400 66
Post reference (210) (120) (516) (X) (100) (402)
(Q=815-100.CashAtBank_endMonth)
GENERAL LEDGER
Account: Cash at Bank
Account No. 100
Date Description Ref. Debit Credit Balance
May 31 Balance 70,440 DR
Jun 30 Total from cash receipts journal CRJ 69,195 139,635 DR
Jun 30 Total from cash payments journal CPJ 42,400 97,235 DR
Jun 30
Jun 30
Jun 30
Jun 30 Unadjusted Balance 97235 DR
Feedback

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Account: Cash at Bank
Account No. 100
Date Description Ref. Debit Credit Balance
May 31 Balance 70,440 DR
Jun 30 Total from cash receipts journal CRJ 69,195 139,635 DR
Jun 30 Total from cash payments journal CPJ 42,400 97,235 DR
Jun 30 Unadjusted Balance 97,235 DR
(Q=815-110-0.ARControl_endMonth)
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 30 Total Credit Sales SJ 52040 0 78458 DR
Jun 30 Total Cash Receipt CRJ 0 27057 51401 DR
Jun 30
Jun 30
Jun 30 Unadjusted Balance 51401 DR
Feedback
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 30 Total from sales journal SJ 52,040 78,458 DR
Jun 30 Total from cash receipts journal CRJ 27,057 51,401 DR
Jun 30 Unadjusted Balance 51,401 DR
(Q=815-120.Inventory_endMonth)
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
Jun 30 Total Credit Purchase PJ 13776 0 99976 DR
Jun 30 Total Cash Purchase CPJ 3328 0 103304 DR
Jun 30 Total Credit Sales SJ 0 28592 74712 DR
Jun 30 Total Cash Sales CRJ 0 24608 50104 DR
Jun 30 Unadjusted Balance 50104 DR

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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
Jun 30 Total from sales journal SJ 28,592 57,608 DR
Jun 30 Total from purchases journal PJ 13,776 71,384 DR
Jun 30 Total from cash receipts journal CRJ 24,608 46,776 DR
Jun 30 Total from cash payments journal CPJ 3,328 50,104 DR
Jun 30 Unadjusted Balance 50,104 DR
(Q=815-210-0.APControl_endMonth)
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
Jun 30 Total Credit Purchase PJ 0 13776 59016 CR
Jun 30 Total Cash Repayment CPJ 14932 0 44084 CR
Jun 30
Jun 30
Jun 30 Unadjusted Balance 44084 CR
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
Jun 30 Total from purchases journal PJ 13,776 59,016 CR
Jun 30 Total from cash payments journal CPJ 14,932 44,084 CR
Jun 30 Unadjusted Balance 44,084 CR
(Q=815-400.SalesRevenue_endMonth)
Account: Sales Revenue
Account No. 400
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun 30 Total Credit Sales SJ 0 52040 52040 CR
Jun 30 Total Cash Sales CRJ 0 41880 93920 CR

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Jun 30
Jun 30 Unadjusted Balance 93920 CR
Feedback
Account: Sales Revenue
Account No. 400
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun 30 Total from sales journal SJ 52,040 52,040 CR
Jun 30 Total from cash receipts journal CRJ 41,880 93,920 CR
Jun 30 Unadjusted Balance 93,920 CR
(Q=815-401.SalesReturns_endMonth)
Account: Sales Returns and Allowances
Account No. 401
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun 21 Sales return from Mercury Square GJ 1,368 1,368 DR
Jun 30
Jun 30
Jun 30
Jun 30 Unadjusted Balance 1368 DR
Feedback
Account: Sales Returns and Allowances
Account No. 401
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun 21 Sales return from Mercury Square GJ 1,368 1,368 DR
Jun 30 Unadjusted Balance 1,368 DR
(Q=815-402.DiscountReceived_endMonth)
Account: Discount Received
Account No. 402
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun 30 Total Discount Received CPJ 0 66 66 CR
Jun 30
Jun 30
Jun 30 Unadjusted Balance 66 CR

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Feedback
Account: Discount Received
Account No. 402
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun 30 Total from cash payments journal CPJ 66 66 CR
Jun 30 Unadjusted Balance 66 CR
(Q=815-500.CostOfSales_endMonth)
Account: Cost of Sales
Account No. 500
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun 21 Sales return from Mercury Square GJ 792 792 CR
Jun 30 Total Credit Sales SJ 28592 0 27800 DR
Jun 30 Total Cash Sales CRJ 24608 0 52408 DR
Jun 30
Jun 30 Unadjusted Balance 52408 DR
Feedback
Account: Cost of Sales
Account No. 500
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun 21 Sales return from Mercury Square GJ 792 792 CR
Jun 30 Total from sales journal SJ 28,592 27,800 DR
Jun 30 Total from cash receipts journal CRJ 24,608 52,408 DR
Jun 30 Unadjusted Balance 52,408 DR
(Q=815-516.WagesExpense_endMonth)
Account: Wages Expense
Account No. 516
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun 30 Total Wages Paid CPJ 6891 0 6891 DR
Jun 30
Jun 30
Jun 30 Unadjusted Balance 6891 DR
Feedback

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Account: Wages Expense
Account No. 516
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun 30 Total from cash payments journal CPJ 6,891 6,891 DR
Jun 30 Unadjusted Balance 6,891 DR
(Q=815-573.DiscountAllowed_endMonth)
Account: Discount Allowed
Account No. 573
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun 30 Total Discount Allowed CRJ 304 0 304 DR
Jun 30
Jun 30
Jun 30 Unadjusted Balance 304 DR
Feedback
Account: Discount Allowed
Account No. 573
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun 30 Total from cash receipts journal CRJ 304 304 DR
Jun 30 Unadjusted Balance 304 DR
Manual Accounting Practice Set
iCandy, Australasian Edition 3 (VSA3q)
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