Transactions - Week 3 | Manual Accounting Practice Set

Using the company's records that are provided below, you are now required to record transactions that occurred throughout the third week of June. The week 3 transactions are listed below. Record all week 3 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.

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Manual Accounting Practice Set
Technology Boutique, Australasian Edition 3
Feedback: Transactions - week 3
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Using the company's records that are provided below, you are now required to record transactions that occurred throughout the
third week of June. The week 3 transactions are listed below:
Week 3
Date Transaction description
15 Paid $2,640 for one month's rent of the show room (from 16 June to 15 July inclusive), Cheque No. 779.
16 Sold 49 MX620 Notebook Computers to Handys Electronics for $1,991 each, Invoice No. 303.
16 Hypertronics paid the full amount owing on their account.
18 Made cash sale of 49 DK800 Desktop Computers for a list price of $2,530 each. A trade discount of 20% applies.
18 Paid sales staff wages of $13,282 for the week up to and including yesterday, Cheque No. 780.
20 Jerry Technology paid $27,000 in partial payment of their account.
20 Received a purchase order from Jerry Technology. Created a corresponding sales order to deliver 3 Zii Game Consoles to
this customer for $1,859 each, Invoice No. 304.
21 Returned 3 faulty DK800 Desktop Computers, originally purchased for $1,430 each, to Moon Megasystems. Received a
Credit Note for $4,290.
Instructions for week 3
Record all week 3 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.
1)
2)

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ARC - Handys Electronics
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. 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.
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.
You are required to enter the GST component of a transaction as a positive number into the journals. To record an amount
in a GST account, you need to enter that amount into the appropriate debit or credit column.
When recording a transaction into the general journal, the amount recorded in one account may be the sum of the amounts
recorded in two or more accounts. For example, a journal entry may consist of a debit of $100 to Account A, a credit of $40
to Account B and a credit of $60 to Account C. For these types of transactions, you must not split the transaction into more
than one journal entry i.e. (1) Dr Account A $40, Cr Account B $40 and (2) Dr Account A $60, Cr Account C $60. Instead,
you must record the $100 debit to Account A in a single line.
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=501.salesJournalWeek3)
SALES JOURNAL
Date Account Invoice
No.
Post
Ref.
Accounts
Receivable GST Sales
Revenue
Cost of
Sales
Jun 6 ARC - Hypertronics 301 110-3 10,890 990 9,900 5,500
Jun 9 ARC - Jerry Technology 302 110-6 53,911 4,901 49,010 24,420
Jun 16 303 110-5 97559 8869 88690 50690
Jun
Jun
Jun
Feedback
SALES JOURNAL
3)
Show All

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ARC - Hypertronics
Sales Revenue
ARC - Jerry Technology
Date Account Invoice
No.
Post
Ref.
Accounts
Receivable
GST Sales
Revenue
Cost of
Sales
Jun 6 ARC - Hypertronics 301 110-3 10,890 990 9,900 5,500
Jun 9 ARC - Jerry Technology 302 110-6 53,911 4,901 49,010 24,420
Jun 16 ARC - Handys Electronics 303 110-5 97,559 8,869 88,690 50,690
(Q=502.purchasesJournalWeek3)
PURCHASES JOURNAL
Date Account Terms Post
Ref. Inventory GST Accounts
Payable
Jun 2 APC - Moon Megasystems net 30 210-3 12,350 1,235 13,585
Jun 6 APC - Big Telco 2/10, n/30 210-1 17,760 1,776 19,536
Jun
Jun
Jun
Jun
Feedback
There are no relevant entries in the purchases journal for this week.
(Q=503.cashReceiptsJournalWeek3)
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.
The two GST columns in this journal refer to the same GST account (being the account that is used to record the GST related to
applicable cash receipts).
Date Account Post
Ref.
Debit Credit Cost of
SalesCash at
Bank GST Discount
Allowed
Sales
Revenue GST Accounts
Receivable
Other
Accounts
Jun 4 Sales Revenue X 37,950 34,500 3,450 15,600
Jun 11 Sales Revenue X 3,784 3,440 344 1,680
Jun 14 ARC - Radio Hut 110-1 4,554 46 460 5,060
Jun 16 110-3 49943 0 0 0 0 49943 0 0
Jun 18 99176 0 0 90160 9016 0 0 63700
Jun 20 110-6 27000 0 0 0 0 27000 0 0
Jun
Jun
Jun

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Prepaid Rent
Wages Expense
Feedback
CASH RECEIPTS JOURNAL
Date Account Post
Ref.
Debit Credit Cost of
SalesCash at
Bank GST Discount
Allowed
Sales
Revenue GST Accounts
Receivable
Other
Accounts
Jun 4 Sales Revenue X 37,950 34,500 3,450 15,600
Jun 11 Sales Revenue X 3,784 3,440 344 1,680
Jun 14 ARC - Radio Hut 110-1 4,554 46 460 5,060
Jun 16 ARC - Hypertronics 110-3 49,943 49,943
Jun 18 Sales Revenue X 99,176 90,160 9,016 63,700
Jun 20 ARC - Jerry Technology 110-6 27,000 27,000
(Q=504.cashPaymentsJournalWeek3)
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.
The two GST columns in this journal refer to the same GST account (being the account that is used to record the GST related to
applicable cash payments).
Date Account Cheque
No.
Post
Ref.
Debit Credit
Accounts
Payable GST Inventory Wages
Expense
Other
Accounts
Cash at
Bank GST Discount
Received
Jun 3 Inventory 772 X 3,900 39,000 42,900
Jun 4 Wages Payable 773 220 6,208 6,500 12,708
Jun 5 APC - Mega Tech 774 210-4 11,550 11,319 21 210
Jun 6 APC - Pear Technology 775 210-2 9,900 9,801 9 90
Jun 10 APC - Pony 776 210-5 9,600 9,600
Jun 10 Electricity Payable 777 221 117 1,170 1,287
Jun 11 Wages Expense 778 X 13,084 13,084
Jun 15 779 140 0 240 0 0 2400 2640 0 0
Jun 18 780 0 0 0 13282 0 13282 0 0
Jun
Jun
Jun
Jun
Feedback
CASH PAYMENTS JOURNAL

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APC - Moon Megasystems
GST Outlays
Inventory
Date Account Cheque
No.
Post
Ref. Debit Credit
Accounts
Payable GST Inventory Wages
Expense
Other
Accounts
Cash at
Bank GST Discount
Received
Jun 3 Inventory 772 X 3,900 39,000 42,900
Jun 4 Wages Payable 773 220 6,208 6,500 12,708
Jun 5 APC - Mega Tech 774 210-4 11,550 11,319 21 210
Jun 6 APC - Pear Technology 775 210-2 9,900 9,801 9 90
Jun 10 APC - Pony 776 210-5 9,600 9,600
Jun 10 Electricity Payable 777 221 117 1,170 1,287
Jun 11 Wages Expense 778 X 13,084 13,084
Jun 15 Prepaid Rent 779 140 240 2,400 2,640
Jun 18 Wages Expense 780 X 13,282 13,282
(Q=505.generalJournalWeek3)
GENERAL JOURNAL
Date Account and Explanation Post
Ref. DR CR
Jun 13 Sales Returns and Allowances 401 3,600
Jun 13 GST Collections 240 360
Jun 13 ARC - Hypertronics 110/110-3 3,960
(sales return)
Jun 13 Inventory 120 2,000
Jun 13 Cost of Sales 500 2,000
(sales return)
Jun 21 210/210-3 4290 0
135 0 390
120 0 3900
Jun
Jun

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Feedback
GENERAL JOURNAL
Date Account and Explanation Post
Ref. Debit Credit
Jun 13 Sales Returns and Allowances 401 3,600
Jun 13 GST Collections 240 360
Jun 13 ARC - Hypertronics 110/110-3 3,960
(sales return)
Jun 13 Inventory 120 2,000
Jun 13 Cost of Sales 500 2,000
(sales return)
Jun 21 APC - Moon Megasystems 210/210-3 4,290
Jun 21 Inventory 120 3,900
Jun 21 GST Outlays 135 390
(purchase return)
(Q=510-110-3.AcctsRec3_week3)
SUBSIDIARY LEDGERS
Account: ARC - Hypertronics
Account No. 110-3
Date Description Ref. Debit Credit Balance
May 31 Balance 43,013 DR
Jun 6 Credit sale SJ 10,890 53,903 DR
Jun 13 Sales return GJ 3,960 49,943 DR
Jun 16 payment received CRJ 0 49943 0
Jun
Jun
Feedback
Account: ARC - Hypertronics
Account No. 110-3
Date Description Ref. Debit Credit Balance
May 31 Balance 43,013 DR
Jun 6 Credit sale SJ 10,890 53,903 DR

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Jun 13 Sales return GJ 3,960 49,943 DR
Jun 16 Repayment CRJ 49,943 0
(Q=510-110-5.AcctsRec5_week3)
Account: ARC - Handys Electronics
Account No. 110-5
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun 16 Sales SJ 97559 0 97559 DR
Jun
Jun
Feedback
Account: ARC - Handys Electronics
Account No. 110-5
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun 16 Credit sale SJ 97,559 97,559 DR
(Q=510-110-6.AcctsRec6_week3)
Account: ARC - Jerry Technology
Account No. 110-6
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun 9 Credit sale SJ 53,911 53,911 DR
Jun 20 Payment received CRJ 0 27000 26911 DR
Jun
Jun
Feedback
Account: ARC - Jerry Technology
Account No. 110-6
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun 9 Credit sale SJ 53,911 53,911 DR
Jun 20 Repayment CRJ 27,000 26,911 DR
(Q=510-210-3.AcctsPay3_week3)
Account: APC - Moon Megasystems
Account No. 210-3

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Date Description Ref. Debit Credit Balance
May 31 Balance 41,575 CR
Jun 2 Credit purchase PJ 13,585 55,160 CR
Jun 21 Purchase return GJ 4290 0 50870 CR
Jun
Jun
Feedback
Account: APC - Moon Megasystems
Account No. 210-3
Date Description Ref. Debit Credit Balance
May 31 Balance 41,575 CR
Jun 2 Credit purchase PJ 13,585 55,160 CR
Jun 21 Purchase return GJ 4,290 50,870 CR
(Q=520-100.CashAtBank_week3)
GENERAL LEDGER
Account: Cash at Bank
Account No. 100
Date Description Ref. Debit Credit Balance
May 31 Balance 96,668 DR
Jun
Jun
Jun
Feedback
There are no relevant entries in the Cash at Bank ledger for this week.
(Q=520-110.AcctsRecControl_week3)
Account: ARC - Accounts Receivable Control
Account No. 110
Date Description Ref. Debit Credit Balance
May 31 Balance 64,441 DR
Jun 13 Sales return from Hypertronics GJ 3,960 60,481 DR
Jun
Jun
Jun

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Feedback
There are no relevant entries in the Accounts Receivable Control ledger for this week.
(Q=520-120.Inventory_week3)
Account: Inventory
Account No. 120
Date Description Ref. Debit Credit Balance
May 31 Balance 180,070 DR
Jun 13 Sales return from Hypertronics GJ 2,000 182,070 DR
Jun 21 Purchase return GJ 0 3900 178170 DR
Jun
Jun
Feedback
Account: Inventory
Account No. 120
Date Description Ref. Debit Credit Balance
May 31 Balance 180,070 DR
Jun 13 Sales return from Hypertronics GJ 2,000 182,070 DR
Jun 21 Purchase return to Moon Megasystems GJ 3,900 178,170 DR
(Q=520-135.TaxPaid_week3)
Account: GST Outlays
Account No. 135
Date Description Ref. Debit Credit Balance
May 31 Balance 11,147 DR
Jun
Jun
Jun
Feedback
Account: GST Outlays
Account No. 135
Date Description Ref. Debit Credit Balance
May 31 Balance 11,147 DR
Jun 21 Purchase return to Moon Megasystems GJ 390 10,757 DR
(Q=520-140.PrepaidRent_week3)
Account: Prepaid Rent
Account No. 140

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Date Description Ref. Debit Credit Balance
May 31 Balance 1,200 DR
Jun 15 rent paid CPJ 2400 0 3600 DR
Jun
Jun
Feedback
Account: Prepaid Rent
Account No. 140
Date Description Ref. Debit Credit Balance
May 31 Balance 1,200 DR
Jun 15 Prepaid rent CPJ 2,400 3,600 DR
(Q=520-210.AcctsPayControl_week3)
Account: APC - Accounts Payable Control
Account No. 210
Date Description Ref. Debit Credit Balance
May 31 Balance 77,809 CR
Jun 21 Purchase Return GJ 4290 0 73519 CR
Jun
Jun
Feedback
Account: APC - Accounts Payable Control
Account No. 210
Date Description Ref. Debit Credit Balance
May 31 Balance 77,809 CR
Jun 21 Purchase return to Moon Megasystems GJ 4,290 73,519 CR
(Q=520-240.TaxCollected_week3)
Account: GST Collections
Account No. 240
Date Description Ref. Debit Credit Balance
May 31 Balance 19,577 CR
Jun 13 Sales return from Hypertronics GJ 360 19,217 CR
Jun
Jun
Jun

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Feedback
There are no relevant entries in the GST Collections ledger for this week.
(Q=520-400.SalesRevenue_week3)
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=520-401.SalesReturns_week3)
Account: Sales Returns and Allowances
Account No. 401
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun 13 Sales return from Hypertronics GJ 3,600 3,600 DR
Jun
Jun
Jun
Feedback
There are no relevant entries in the Sales Returns and Allowances ledger for this week.
(Q=520-500.CostOfSales_week3)
Account: Cost of Sales
Account No. 500
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun 13 Sales return from Hypertronics GJ 2,000 2,000 CR
Jun
Jun
Jun
Feedback

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There are no relevant entries in the Cost of Sales ledger for this week.
(Q=520-516.WagesExpense_week3)
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=520-573.DiscountAllowed_week3)
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=530.Inventory2_week3)
INVENTORY CARDS
DK800 Desktop Computers
Date
Purchases Cost of Sales Balance
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
May 31 15 1040 15600
38 1300 49400
Jun 3 30 1300 39000 15 1040 15600
68 1300 88400
Jun 4 15 1040 15600 68 1300 88400

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Jun 18 0 0 0 49 1300 63700 19 1300 24700
0 0 0 0 0 0
Jun 21 -3 1300 -3900 0 0 0 16 1300 20800
0 0 0 0 0 0
Jun
Jun
Feedback
DK800 Desktop Computers
Date
Purchases Cost of Sales Balance
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
May 31 15 1040 15600
38 1300 49400
Jun 3 30 1300 39000 15 1040 15600
68 1300 88400
Jun 4 15 1040 15600 68 1300 88400
Jun 18 49 1300 63700 19 1300 24700
Jun 21 -3 1300 -3900 16 1300 20800
(Q=530.Inventory4_week3)
Zii Game Consoles
Date
Purchases Cost of Sales Balance
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
May 31 21 820 17220
20 900 18000

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Jun 9 21 820 17220 12 900 10800
8 900 7200
Jun
Jun
Jun
Jun
Feedback
There are no relevant entries in the Zii Game Consoles card for this week.
(Q=530.Inventory5_week3)
MX620 Notebook Computers
Date
Purchases Cost of Sales Balance
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
May 31 37 1010 37370
Jun 6 16 1110 17760 37 1010 37370
16 1110 17760
Jun 16 0 0 0 37 1010 37370 4 1110 4440
12 1110 13320 0 0 0
Jun
Jun
Jun

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Feedback
MX620 Notebook Computers
Date
Purchases Cost of Sales Balance
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
May 31 37 1010 37370
Jun 6 16 1110 17760 37 1010 37370
16 1110 17760
Jun 16 37 1010 37370 4 1110 4440
12 1110 13320
Manual Accounting Practice Set
Technology Boutique, Australasian Edition 3 (VTA3q)
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