Transactions - Week 3 | Manual Accounting Practice Set | Desklib

Record transactions that occurred throughout the third week of June with Desklib's Manual Accounting Practice Set. Get feedback and instructions for week 3. Use special journals and general journal to record transactions. Post entries recorded in the journals to the appropriate ledger accounts according to the company's accounting policies and procedures.

6/7/2018 Transactions - week 3
https://www.perdisco.com/elms/qsam/html/qsam.aspx 1/10
Your progress
Completed: 26% (approximately)
Remaining pages will take: up to 12.5 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) 172 304
Points (on this page) 84 104
Points (after this page) − 628
Total 256 1,036
Manual Accounting Practice Set
Ball-Mart, 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
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.
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 sales staff wages of $5,432 for the two weeks up to and including yesterday, Cheque No. 607.
16 Returned $2,375 worth of faulty product to J. J. Spud. Received a Credit Note for $2,375.
17 Sold 16 boxes of Tennis Balls to The Locker Room for $58 each, Invoice No. 503.
19 Made cash sales of $11,920 during the week.
20 Croquet and Cricket paid $300 in partial payment of their account.
20 Received a purchase order from Croquet and Cricket. Created a corresponding sales order to deliver 23 boxes
of Golf Balls to this customer for $82 each, Invoice No. 504.
21 Mick's Sporting Goods paid the full amount owing on their account.
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.
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.
Back-On-Track functionality
1)
2)

6/7/2018 Transactions - week 3
https://www.perdisco.com/elms/qsam/html/qsam.aspx 2/10
ARC - The Locker Room
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:
You are required 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.
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.
You are also required to apply the journals and ledgers instructions provided in Week 1.
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
(Q=501.salesJournalWeek3)
SALES JOURNAL
Date Account Invoice
No.
Post
Ref. Amount
Jun 6 ARC - Mick's Sporting Goods 501 110-3 720
Jun 10 ARC - Croquet and Cricket 502 110-6 832
Jun 17 503 110-5 928
Jun
Jun
Jun
Feedback
SALES JOURNAL
Date Account Invoice
No.
Post
Ref. Amount
Jun 6 ARC - Mick's Sporting Goods 501 110-3 720
Jun 10 ARC - Croquet and Cricket 502 110-6 832
Jun 17 ARC - The Locker Room 503 110-5 928
(Q=502.purchasesJournalWeek3)
PURCHASES JOURNAL
Date Account Terms Post
Ref. Amount
Jun 3 APC - Hike 2/10, n/30 210-1 1,020
Jun 6 APC - J. J. Spud net 30 210-3 570
Jun
Show All

6/7/2018 Transactions - week 3
https://www.perdisco.com/elms/qsam/html/qsam.aspx 3/10
Sales Revenue
ARC - Croquet and Cricke
ARC - Mick's Sporting Go
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.
Date Account Post
Ref.
Debit Credit
Cash at
Bank
Discount
Allowed
Sales
Revenue
Accounts
Receivable
Other
Accounts
Jun 1 Bank Loan Payable 250 50,000 50,000
Jun 5 Sales Revenue X 6,752 6,752
Jun 8 ARC - Great Sports 110-1 2,441 271 2,712
Jun 12 Sales Revenue X 9,892 9,892
Jun 19 X 11920 0 11920 0 0
Jun 20 110-6 300 0 0 300 0
Jun 21 110-3 2077 0 0 2077 0
Jun
Jun
Jun
Feedback
CASH RECEIPTS JOURNAL
Date Account Post
Ref.
Debit Credit
Cash at
Bank
Discount
Allowed
Sales
Revenue
Accounts
Receivable
Other
Accounts
Jun 1 Bank Loan Payable 250 50,000 50,000
Jun 5 Sales Revenue X 6,752 6,752
Jun 8 ARC - Great Sports 110-1 2,441 271 2,712
Jun 12 Sales Revenue X 9,892 9,892
Jun 19 Sales Revenue X 11,920 11,920
Jun 20 ARC - Croquet and Cricket 110-6 300 300
Jun 21 ARC - Mick's Sporting Goods 110-3 2,077 2,077

6/7/2018 Transactions - week 3
https://www.perdisco.com/elms/qsam/html/qsam.aspx 4/10
Wages Expense
APC - J. J. Spud
Purchase Returns and Allowances
(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 Purchases Other
Accounts
Cash at
Bank
Discount
Received
Jun 1 Purchases 603 X 513 513
Jun 4 APC - Extreme Sports Supplies 604 210-4 1,686 1,652 34
Jun 5 APC - Good Sports 605 210-2 1,171 1,159 12
Jun 9 APC - Sports 'R Us 606 210-5 2,211 2,211
Jun 15 607 516 0 0 5432 5432 0
Jun
Jun
Jun
Jun
Jun
Feedback
CASH PAYMENTS JOURNAL
Date Account Cheque
No.
Post
Ref.
Debit Credit
Accounts
Payable Purchases Other
Accounts
Cash at
Bank
Discount
Received
Jun 1 Purchases 603 X 513 513
Jun 4 APC - Extreme Sports Supplies 604 210-4 1,686 1,652 34
Jun 5 APC - Good Sports 605 210-2 1,171 1,159 12
Jun 9 APC - Sports 'R Us 606 210-5 2,211 2,211
Jun 15 Wages Expense 607 516 5,432 5,432
(Q=505.generalJournalWeek3)
GENERAL JOURNAL
Date Account and Explanation Post
Ref. Debit Credit
Jun 13 Sales Returns and Allowances 401 2,173
Jun 13 ARC - Mick's Sporting Goods 110/110-3 2,173
(sales return)
Jun 16 210/210-3 2375 0
16 501 0 2375

6/7/2018 Transactions - week 3
https://www.perdisco.com/elms/qsam/html/qsam.aspx 5/10
Jun
Jun
Feedback
GENERAL JOURNAL
Date Account and Explanation Post
Ref. Debit Credit
Jun 13 Sales Returns and Allowances 401 2,173
Jun 13 ARC - Mick's Sporting Goods 110/110-3 2,173
(sales return)
Jun 16 APC - J. J. Spud 210/210-3 2,375
Jun 16 Purchase Returns and Allowances 501 2,375
(purchase return)
(Q=510-110-3.AcctsRec3_week3)
SUBSIDIARY LEDGERS
Account: ARC - Mick's Sporting Goods
Account No. 110-3
Date Description Ref. Debit Credit Balance
May 31 Balance 3,530 DR
Jun 6 Credit sale SJ 720 4,250 DR
Jun 13 Sales return GJ 2,173 2,077 DR
Jun 21 repaid CRJ 0 2077 0
Jun
Jun
Feedback
Account: ARC - Mick's Sporting Goods
Account No. 110-3
Date Description Ref. Debit Credit Balance
May 31 Balance 3,530 DR
Jun 6 Credit sale SJ 720 4,250 DR

6/7/2018 Transactions - week 3
https://www.perdisco.com/elms/qsam/html/qsam.aspx 6/10
Jun 13 Sales return GJ 2,173 2,077 DR
Jun 21 Repayment CRJ 2,077 0
(Q=510-110-5.AcctsRec5_week3)
Account: ARC - The Locker Room
Account No. 110-5
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun 17 cr.sale SJ 928 0 928 DR
Jun
Jun
Feedback
Account: ARC - The Locker Room
Account No. 110-5
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun 17 Credit sale SJ 928 928 DR
(Q=510-110-6.AcctsRec6_week3)
Account: ARC - Croquet and Cricket
Account No. 110-6
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun 10 Credit sale SJ 832 832 DR
Jun 20 partioal payment CRJ 0 300 532 DR
Jun
Jun
Feedback
Account: ARC - Croquet and Cricket
Account No. 110-6
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun 10 Credit sale SJ 832 832 DR
Jun 20 Repayment CRJ 300 532 DR
(Q=510-210-3.AcctsPay3_week3)
Account: APC - J. J. Spud
Account No. 210-3
Date Description Ref. Debit Credit Balance

6/7/2018 Transactions - week 3
https://www.perdisco.com/elms/qsam/html/qsam.aspx 7/10
May 31 Balance 4,992 CR
Jun 6 Credit purchase PJ 570 5,562 CR
Jun 16 return GJ 2375 0 3187 CR
Jun
Jun
Feedback
Account: APC - J. J. Spud
Account No. 210-3
Date Description Ref. Debit Credit Balance
May 31 Balance 4,992 CR
Jun 6 Credit purchase PJ 570 5,562 CR
Jun 16 Purchase return GJ 2,375 3,187 CR
(Q=520-100.CashAtBank_week3)
GENERAL LEDGER
Account: Cash at Bank
Account No. 100
Date Description Ref. Debit Credit Balance
May 31 Balance 29,693 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 11,539 DR
Jun 13 Sales return from Mick's Sporting Goods GJ 2,173 9,366 DR
Jun
Jun
Jun
Feedback
There are no relevant entries in the Accounts Receivable Control ledger for this week.

6/7/2018 Transactions - week 3
https://www.perdisco.com/elms/qsam/html/qsam.aspx 8/10
(Q=520-120.Inventory_week3)
Account: Inventory
Account No. 120
Date Description Ref. Debit Credit Balance
May 31 Balance 72,339 DR
Jun
Jun
Jun
Feedback
There are no relevant entries in the Inventory ledger for this week.
(Q=520-210.AcctsPayControl_week3)
Account: APC - Accounts Payable Control
Account No. 210
Date Description Ref. Debit Credit Balance
May 31 Balance 11,918 CR
Jun 16 return GJ 2375 0 9543 CR
Jun
Jun
Feedback
Account: APC - Accounts Payable Control
Account No. 210
Date Description Ref. Debit Credit Balance
May 31 Balance 11,918 CR
Jun 16 Purchase return to J. J. Spud GJ 2,375 9,543 CR
(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.

6/7/2018 Transactions - week 3
https://www.perdisco.com/elms/qsam/html/qsam.aspx 9/10
(Q=520-500.Purchases_week3)
Account: Purchases
Account No. 500
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun
Jun
Jun
Feedback
There are no relevant entries in the Purchases ledger for this week.
(Q=520-501.PurchaseReturns_week3)
Account: Purchase Returns and Allowances
Account No. 501
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun 16 return GJ 2375 0 2375 DR
Jun
Jun
Feedback
Account: Purchase Returns and Allowances
Account No. 501
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun 16 Purchase return to J. J. Spud GJ 2,375 2,375 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
Feedback

6/7/2018 Transactions - week 3
https://www.perdisco.com/elms/qsam/html/qsam.aspx 10/10
Account: Wages Expense
Account No. 516
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun 15 Paid staff wages CPJ 5,432 5,432 DR
Manual Accounting Practice Set
Ball-Mart, Australasian Edition 3 (VBA3q)
© 2009 - 2014 Perdisco / latin /. v., learn thoroughly
http://www.perdisco.com
Terms Of Use | Privacy Policy | Thursday, June 07, 2018, 18:04