Manual Accounting Practice Set - Transactions Week 3 | Desklib

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. Post entries recorded in the journals to the appropriate ledger accounts according to the company's accounting policies and procedures.

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Manual Accounting Practice Set
Tech Head, Australasian Edition 3
Feedback: Transactions - week 3
This is a feedback page. Please review this page carefully because later pages in this practice set build on the feedback
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the next page of your 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.
Week 3
Date Transaction description
16 Pikea paid $2,200 in partial payment of their account.
17 Purchased 25 Zii Game Consoles from Moon Megasystems for $1,384 each, terms 2/10, n/30.
17 Sold 3 DK800 Desktop Computers to Jerry Technology for $1,936 each, Invoice No. 488.
18 Purchased 17 Tony ZIO MLP Projectors from Mega Tech for $472 each, terms net 30.
18 Paid sales staff wages of $13,362 for the week up to and including yesterday, Cheque No. 660.
18 Received a purchase order from Pikea. Created a corresponding sales order to deliver 19 DK800 Desktop
Computers to this customer for $1,936 each, Invoice No. 490.
20 Made cash sale of 28 BG90 Plasma Televisions for a list price of $2,336 each. A trade discount of 25%
applies.
20 Radio Hut returned 9 BlueBerry Phones that were originally sold for $664 each on 10 June. These items cost
$408 each and were not faulty or damaged. Issued a Credit Note for $5,976.
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)

6/6/2018 Transactions - week 3
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ARC - Jerry Technology
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.
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
Cost of
Sales
Jun 10 ARC - Radio Hut 487 110-3 12,616 7,752
Jun 17 488 110-5 5808 2832
Jun
Jun
Jun
Feedback
SALES JOURNAL
Date Account Invoice
No.
Post
Ref.
Accounts
Receivable
Cost of
Sales
Jun 10 ARC - Radio Hut 487 110-3 12,616 7,752
Jun 17 ARC - Jerry Technology 488 110-5 5,808 2,832
(Q=502.purchasesJournalWeek3)
PURCHASES JOURNAL
3)
Show All

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APC - Moon Megasystems
APC - Mega Tech
ARC - Pikea
Sales Revenue
Date Account Terms Post
Ref.
Accounts
Payable
Jun 9 APC - JCN Electrical net 30 210-6 21,352
Jun 17 2/10 n/30 210-1 34600
Jun 18 2/10 n/30 210-5 8024
Jun
Jun
Feedback
PURCHASES JOURNAL
Date Account Terms Post
Ref.
Accounts
Payable
Jun 9 APC - JCN Electrical net 30 210-6 21,352
Jun 17 APC - Moon Megasystems 2/10, n/30 210-1 34,600
Jun 18 APC - Mega Tech net 30 210-5 8,024
(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.
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
Jun 10 ARC - Turbo Tech 110-1 4,131 459 4,590
Jun 13 Sales Revenue X 3,072 3,072 1,408
Jun 16 110-6 2200 0 0 2200 0 0
Jun 20 X 49056 0 49056 0 0 34120
Jun
Jun
Jun
Jun
Feedback
CASH RECEIPTS JOURNAL

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Wages Expense
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
Jun 10 ARC - Turbo Tech 110-1 4,131 459 4,590
Jun 13 Sales Revenue X 3,072 3,072 1,408
Jun 16 ARC - Pikea 110-6 2,200 2,200
Jun 20 Sales Revenue X 49,056 49,056 34,120
(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.
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
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
Jun 11 APC - Pony 656 210-2 4,900 4,851 49
Jun 11 Wages Expense 657 X 12,623 12,623
Jun 12 APC - Moon Megasystems 658 210-1 4,900 4,900
Jun 14 APC - Mega Tech 659 210-5 2,548 2,548
Jun 18 660 X 0 0 13362 0 13362 0
Jun
Jun
Jun
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 651 140 8,600 8,600
Jun 2 Electricity Payable 652 221 783 783

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Sales Returns and Allowances
ARC - Radio Hut
Inventory
Cost of Sales
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
Jun 11 APC - Pony 656 210-2 4,900 4,851 49
Jun 11 Wages Expense 657 X 12,623 12,623
Jun 12 APC - Moon Megasystems 658 210-1 4,900 4,900
Jun 14 APC - Mega Tech 659 210-5 2,548 2,548
Jun 18 Wages Expense 660 X 13,362 13,362
(Q=505.generalJournalWeek3)
GENERAL JOURNAL
Date Account and Explanation Post
Ref. Debit Credit
Jun 20 401 5976 0
20 110/110-3 0 5976
Jun 20 120 3672 0
20 500 0 3672
Jun
Feedback
GENERAL JOURNAL
Date Account and Explanation Post
Ref. Debit Credit
Jun 20 Sales Returns and Allowances 401 5,976
Jun 20 ARC - Radio Hut 110/110-3 5,976
(sales return)
Jun 20 Inventory 120 3,672
Jun 20 Cost of Sales 500 3,672
(sales return)
(Q=510-110-3.AcctsRec3_week3)
SUBSIDIARY LEDGERS

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Account: ARC - Radio Hut
Account No. 110-3
Date Description Ref. Debit Credit Balance
May 31 Balance 13,458 DR
Jun 10 Credit sale SJ 12,616 26,074 DR
Jun 20 sales returm GJ 0 5976 20098 DR
Jun
Jun
Feedback
Account: ARC - Radio Hut
Account No. 110-3
Date Description Ref. Debit Credit Balance
May 31 Balance 13,458 DR
Jun 10 Credit sale SJ 12,616 26,074 DR
Jun 20 Sales return GJ 5,976 20,098 DR
(Q=510-110-5.AcctsRec5_week3)
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
Jun 17 ce.sale SJ 5808 0 5808 CR
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
Jun 17 Credit sale SJ 5,808 5,808 DR
(Q=510-110-6.AcctsRec6_week3)
Account: ARC - Pikea
Account No. 110-6
Date Description Ref. Debit Credit Balance
May 31 Balance 3,603 DR

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Jun 16 partial payment CRJ 2200 0 1403 DR
Jun
Jun
Feedback
Account: ARC - Pikea
Account No. 110-6
Date Description Ref. Debit Credit Balance
May 31 Balance 3,603 DR
Jun 16 Repayment CRJ 2,200 1,403 DR
(Q=510-210-1.AcctsPay1_week3)
Account: APC - Moon Megasystems
Account No. 210-1
Date Description Ref. Debit Credit Balance
May 31 Balance 4,900 CR
Jun 12 Repayment CPJ 4,900 0
Jun 17 cr. purchase PJ 0 34600 34600 DR
Jun
Jun
Feedback
Account: APC - Moon Megasystems
Account No. 210-1
Date Description Ref. Debit Credit Balance
May 31 Balance 4,900 CR
Jun 12 Repayment CPJ 4,900 0
Jun 17 Credit purchase PJ 34,600 34,600 CR
(Q=510-210-5.AcctsPay5_week3)
Account: APC - Mega Tech
Account No. 210-5
Date Description Ref. Debit Credit Balance
May 31 Balance 2,548 CR
Jun 14 Repayment CPJ 2,548 0
Jun 18 purchase PJ 0 8024 8024 CR
Jun
Jun

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Feedback
Account: APC - Mega Tech
Account No. 210-5
Date Description Ref. Debit Credit Balance
May 31 Balance 2,548 CR
Jun 14 Repayment CPJ 2,548 0
Jun 18 Credit purchase PJ 8,024 8,024 CR
(Q=520-100.CashAtBank_week3)
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
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 34,967 DR
Jun 20 sales return GJ 0 5976 28991 DR
Jun
Jun
Feedback
Account: ARC - Accounts Receivable Control
Account No. 110
Date Description Ref. Debit Credit Balance
May 31 Balance 34,967 DR
Jun 20 Sales return from Radio Hut GJ 5,976 28,991 DR
(Q=520-120.Inventory_week3)

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Account: Inventory
Account No. 120
Date Description Ref. Debit Credit Balance
May 31 Balance 214,336 DR
Jun 20 return GJ 3672 0 218000 DR
Jun
Jun
Feedback
Account: Inventory
Account No. 120
Date Description Ref. Debit Credit Balance
May 31 Balance 214,336 DR
Jun 20 Sales return from Radio Hut GJ 3,672 218,008 DR
(Q=520-210.AcctsPayControl_week3)
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=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.

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(Q=520-401.SalesReturns_week3)
Account: Sales Returns and Allowances
Account No. 401
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun 20 return GJ 5976 0 5976 DR
Jun
Jun
Feedback
Account: Sales Returns and Allowances
Account No. 401
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun 20 Sales return from Radio Hut GJ 5,976 5,976 DR
(Q=520-500.CostOfSales_week3)
Account: Cost of Sales
Account No. 500
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun 20 sales return GJ 0 3672 3672 CR
Jun
Jun
Feedback
Account: Cost of Sales
Account No. 500
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun 20 Sales return from Radio Hut GJ 3,672 3,672 CR
(Q=520-516.WagesExpense_week3)
Account: Wages Expense
Account No. 516
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun
Jun
Jun

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Feedback
There are no relevant entries in the Wages Expense ledger for this week.
(Q=530.Inventory1_week3)
INVENTORY CARDS
Tony ZIO MLP Projectors
Date
Purchases Cost of Sales Balance
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
May 31 12 352 4224
24 472 11328
Jun 13 4 352 1408 8 352 2816
24 472 11328
Jun 18 17 472 8024 0 0 0 8 352 2816
0 0 0 41 472 19352
Jun
Jun
Jun
Feedback
Tony ZIO MLP Projectors
Date
Purchases Cost of Sales Balance
Units Unit
Cost
($)
Total
Cost
($)
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
May 31 12 352 4224
24 472 11328

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Jun 13 4 352 1408 8 352 2816
24 472 11328
Jun 18 17 472 8024 8 352 2816
41 472 19352
(Q=530.Inventory2_week3)
BG90 Plasma Televisions
Date
Purchases Cost of Sales Balance
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
May 31 17 1096 18632
44 1408 61952
Jun 20 0 0 0 17 1096 18632 33 1408 46464
11 1408 15488 0 0 0
Jun
Jun
Jun
Feedback
BG90 Plasma Televisions
Date
Purchases Cost of Sales Balance
Units Unit
Cost
($)
Total
Cost
($)
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
May 31 17 1096 18632
44 1408 61952
Jun 20 17 1096 18632 33 1408 46464
11 1408 15488

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(Q=530.Inventory3_week3)
BlueBerry Phones
Date
Purchases Cost of Sales Balance
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
May 31 60 408 24480
Jun 10 19 408 7752 41 408 16728
Jun 20 0 0 0 -9 408 -3672 50 408 20400
0 0 0 0 0 0
Jun
Jun
Jun
Feedback
BlueBerry Phones
Date
Purchases Cost of Sales Balance
Units Unit
Cost
($)
Total
Cost
($)
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
May 31 60 408 24480
Jun 10 19 408 7752 41 408 16728
Jun 20 -9 408 -3672 50 408 20400
(Q=530.Inventory4_week3)
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 9 944 8496

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20 1184 23680
Jun 17 0 0 0 3 944 2832 6 944 5664
0 0 0 20 1184 23680
Jun
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 9 944 8496
20 1184 23680
Jun 17 3 944 2832 6 944 5664
20 1184 23680
(Q=530.Inventory5_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 49 1256 61544
Jun 9 17 1256 21352 66 1256 82896
Jun 17 25 1384 34600 0 0 0 66 1256 82896
0 0 0 25 1384 34600
Jun

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Jun
Jun
Feedback
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 49 1256 61544
Jun 9 17 1256 21352 66 1256 82896
Jun 17 25 1384 34600 66 1256 82896
25 1384 34600
Manual Accounting Practice Set
Tech Head, Australasian Edition 3 (VSA3q)
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