Transactions - Week 1 | Manual Accounting Practice Set | Tech Head, Australasian Edition 3

This page is the feedback page for Transactions - Week 1 of the Manual Accounting Practice Set for Tech Head, Australasian Edition 3. It provides instructions on how to record basic transactions in the journals provided below and understand the posting process in the manual accounting system. The page also lists the transactions that occurred throughout the first week of June and provides additional instructions for completing the practice set. The output includes the title, meta title, meta description, summary, and other relevant information.

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Manual Accounting Practice Set
Tech Head, Australasian Edition 3
Feedback: Transactions - week 1
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.
Now that you have reviewed information about Tech Head, you are ready to begin the first step in the accounting cycle,
recording transactions. On this page of the practice set, you are asked to record transactions that occurred during the
first week of June into the company's journals and post the appropriate entries to the ledger accounts. The following
transactions occurred throughout the first week of June:
Week 1
Date Transaction description
1 Issued Cheque No. 651 for $8,600 to pay Barry White Real Estate for two month's worth of rent in advance.
2 Made payment of $783 to Integer Energy for 3 months of electricity up to and including 31 May, Cheque No.
652.
3 Jerry Technology paid the full amount owing on their account.
4 Paid sales staff wages of $12,677 for the week up to and including yesterday, Cheque No. 653. Note that
$7,429 of this payment relates to the wages expense incurred during the last week of May.
5 Issued Cheque No. 654 to Office Supplies Warehouse for the purchase of $488 worth of office supplies.
6 Paid the full amount owing to JCN Electrical, Cheque No. 655.
After completing this practice set page, you should know how to record basic transactions in the journals provided below
and understand the posting process in the manual accounting system. Note that you will record the remaining June
transactions in the following sections of this practice set.
Remember, one purpose of using special journals is to make the posting process more efficient by posting the total of
most columns in the special journals after all of the transactions for the period have been recorded. However, some parts
of a journal entry are still required to be posted on a daily basis. View the company's accounting policies and procedures
for details of what is to be posted daily or monthly.
Instructions for week 1

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Record all week 1 transactions in the relevant journals.
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.
Remember to enter all answers to the nearest whole dollar. When calculating a discount, if a discount is not a whole
number, round the discount to the nearest whole dollar. Then, to calculate the cash at bank amount, subtract the
discount from the original amount.
Additional instructions
Displaying selected accounting records:
To save space, not all accounting records (e.g. journals and ledgers) will be displayed on every page. However,
on each page you can access all accounting records necessary to answer the questions on that page.
There are several tabs representing different views of the accounting records. The active tab by default is Show
All, but you may also select to view just one particular accounting record by selecting the appropriate tab.
If you fill in any accounting records and change the view on the page by selecting a different tab, the
information that you have entered will remain in that accounting record and be displayed whenever you can see
that accounting record.
Before submitting your answers, we recommend that you click the Show All tab and check that all relevant
accounting records have been completed. You are required to complete all relevant accounting records before
pressing the Submit answers button. Once submitted, you will not be able to return to the page to re-enter or
alter your answers.
Journals:
Each transaction recorded in a special journal must be entered in one line. In order to receive full points,
you must not split up the relevant transaction into more than one line in the special journal.
For certain transactions in special journals, some accounting textbooks do not always require an account
to be chosen under the column labeled Account. In this practice set you are required to select an account
for each transaction in the special journals. Specifically, in all special journals, under the column labeled
Account, you must select the correct account name for each transaction in order to receive full points.
Note that for some transactions, this will mean that the account name selected will correspond to the
heading of one of the columns in that special journal.
For each journal, in the Post Ref. column you will need to correctly type the account number of the
account you are posting to. In particular, in special journals, some accounting textbooks do not always
require a reference to be recorded in the Post Ref. column. In this practice set, in order to receive full
points, every transaction entered in a special journal requires an entry in the Post Ref. column. Note that in
the special journals, if the account name selected for a transaction corresponds to the heading of one of
the columns in that special journal, the post ref is to be recorded as an X. This is because these
transactions are not posted on a daily basis. In order to receive full points, you must record only the letter
X in the Post Ref. column for these transactions.
Note that in special journals, the Other Accounts column should not be used to record movements of
inventory.
If a cheque number is not required, you need to fill the appropriate input box with an X.
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.
General journal entries do NOT require a description of the journal entries.
Ledgers:
When posting a transaction to a ledger account, under the Description column, please type the description of the
transaction directly into the field. The exact wording does not matter for grading purposes. For example, it
does not matter in an electricity transaction if you type 'Paid for electricity' or 'Paid electricity bill'.
For each ledger, under the Ref. column, you need to select the correct journal from a list in the drop-down box
provided in order to receive full points.
If the balance of a ledger account is zero you do not need to select a debit or credit from the drop-down box.
Each transaction posted to the subsidiary ledgers must be entered in one line. In order to receive full points, you
must not split up the relevant transaction into more than one line in the subsidiary ledger.
Both journals and ledgers:
Most journals and ledgers will have blank rows left at the end of the page.
1)
2)

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Some journals and ledgers may not require any entries.
When purchases and sales are recorded in special journals, the corresponding changes in inventory must not be
posted to the Inventory account in the general ledger on a daily basis.
Special Journals General Journal Subsidiary Ledgers General Ledger
(Q=301.salesJournalWeek1)
SALES JOURNAL
Date Account Invoice
No.
Post
Ref.
Accounts
Receivable
Cost of
Sales
Jun
Jun
Jun
Jun
Feedback
There are no relevant entries in the sales journal for this week.
(Q=302.purchasesJournalWeek1)
PURCHASES JOURNAL
Date Account Terms Post
Ref.
Accounts
Payable
Jun
Jun
Jun
Jun
Feedback
There are no relevant entries in the purchases journal for this week.
(Q=303.cashReceiptsJournalWeek1)
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
Show All

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ARC - Jerry Technology
Prepaid Rent
Electricity Payable
Wages Payable
Office Supplies
APC - JCN Electrical
Jun 2 110-5 3799 0 0 3799 0 0
Jun
Jun
Jun
Jun
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 3 ARC - Jerry Technology 110-5 3,799 3,799
(Q=304.cashPaymentsJournalWeek1)
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 1 651 140 0 0 0 8600 8600 0
Jun 2 652 221 0 0 0 783 783 0
Jun 4 653 220 0 0 5248 7429 12677 0
Jun 5 654 130 0 0 0 488 488 0
Jun 6 655 210-6 3633 0 0 0 3633 0
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 651 140 8,600 8,600
Jun 2 Electricity Payable 652 221 783 783

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Jun 4 Wages Payable 653 220 5,248 7,429 12,677
Jun 5 Office Supplies 654 130 488 488
Jun 6 APC - JCN Electrical 655 210-6 3,633 3,633
(Q=305.generalJournalWeek1)
GENERAL JOURNAL
Date Account and Explanation Post
Ref. Debit Credit
Jun
Jun
Jun
Feedback
There are no relevant entries in the general journal for this week.
(Q=310-110-5.AcctsRec5_week1)
SUBSIDIARY LEDGERS
Account: ARC - Jerry Technology
Account No. 110-5
Date Description Ref. Debit Credit Balance
May 31 Balance 3,799 DR
Jun 3 repaid CRJ 0 3799 0
Jun
Jun
Feedback
Account: ARC - Jerry Technology
Account No. 110-5
Date Description Ref. Debit Credit Balance
May 31 Balance 3,799 DR
Jun 3 Repayment CRJ 3,799 0

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(Q=310-210-1.AcctsPay1_week1)
Account: APC - Moon Megasystems
Account No. 210-1
Date Description Ref. Debit Credit Balance
May 31 Balance 4,900 CR
Jun
Jun
Jun
Feedback
There are no relevant entries in the Moon Megasystems ledger for this week.
(Q=310-210-6.AcctsPay6_week1)
Account: APC - JCN Electrical
Account No. 210-6
Date Description Ref. Debit Credit Balance
May 31 Balance 3,633 CR
Jun 6 repaid CPJ 3633 0 0
Jun
Jun
Feedback
Account: APC - JCN Electrical
Account No. 210-6
Date Description Ref. Debit Credit Balance
May 31 Balance 3,633 CR
Jun 6 Repayment CPJ 3,633 0
(Q=320-100.CashAtBank_week1)
GENERAL LEDGER
Account: Cash at Bank
Account No. 100
Date Description Ref. Debit Credit Balance
May 31 Balance 95,906 DR
Jun
Jun
Jun
Feedback

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There are no relevant entries in the Cash at Bank ledger for this week.
(Q=320-110.AcctsRecControl_week1)
Account: ARC - Accounts Receivable Control
Account No. 110
Date Description Ref. Debit Credit Balance
May 31 Balance 34,967 DR
Jun
Jun
Jun
Feedback
There are no relevant entries in the Accounts Receivable Control ledger for this week.
(Q=320-130.StoreSupplies_week1)
Account: Office Supplies
Account No. 130
Date Description Ref. Debit Credit Balance
May 31 Balance 238 DR
Jun 5 purchase CPJ 488 0 726 DR
Jun
Jun
Feedback
Account: Office Supplies
Account No. 130
Date Description Ref. Debit Credit Balance
May 31 Balance 238 DR
Jun 5 Cash purchase CPJ 488 726 DR
(Q=320-140.PrepaidRent_week1)
Account: Prepaid Rent
Account No. 140
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun 1 prepaid CPJ 8600 0 8600 DR
Jun
Jun

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Feedback
Account: Prepaid Rent
Account No. 140
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun 1 Prepaid rent CPJ 8,600 8,600 DR
(Q=320-210.AcctsPayControl_week1)
Account: APC - Accounts Payable Control
Account No. 210
Date Description Ref. Debit Credit Balance
May 31 Balance 47,757 CR
Jun
Jun
Jun
Feedback
There are no relevant entries in the Accounts Payable Control ledger for this week.
(Q=320-220.WagesPayable_week1)
Account: Wages Payable
Account No. 220
Date Description Ref. Debit Credit Balance
May 31 Balance 7,429 CR
Jun 4 repaid CPJ 7429 0 0
Jun
Jun
Feedback
Account: Wages Payable
Account No. 220
Date Description Ref. Debit Credit Balance
May 31 Balance 7,429 CR
Jun 4 Paid staff wages CPJ 7,429 0
(Q=320-221.ElectricityPayable_week1)
Account: Electricity Payable
Account No. 221
Date Description Ref. Debit Credit Balance
May 31 Balance 853 CR

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Jun 2 paid CPJ 783 0 70 CR
Jun
Jun
Feedback
Account: Electricity Payable
Account No. 221
Date Description Ref. Debit Credit Balance
May 31 Balance 853 CR
Jun 2 Paid electricity bill CPJ 783 70 CR
(Q=320-400.SalesRevenue_week1)
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=320-402.DiscountRecd_week1)
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=320-500.CostOfSales_week1)
Account: Cost of Sales
Account No. 500
Date Description Ref. Debit Credit Balance

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May 31 Balance 0
Jun
Jun
Jun
Feedback
There are no relevant entries in the Cost of Sales ledger for this week.
(Q=320-516.WagesExpense_week1)
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=320-541.ElectricityExpense_week1)
Account: Electricity Expense
Account No. 541
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun
Jun
Jun
Feedback
There are no relevant entries in the Electricity Expense ledger for this week.
(Q=320-544.SuppliesExpense_week1)
Account: Office Supplies Expense
Account No. 544
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun
Jun

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Jun
Feedback
There are no relevant entries in the Office Supplies Expense ledger for this week.
(Q=320-573.DiscountAllowed_week1)
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.
Manual Accounting Practice Set
Tech Head, Australasian Edition 3 (VSA3q)
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