Manual Accounting Practice Set - Transactions Week 4 | Desklib

Record transactions that occurred throughout the fourth week of June in the company's books. 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 4
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Manual Accounting Practice Set
Ball-Mart, Australasian Edition 3
Feedback: Transactions - week 4
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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.
You are now asked to record transactions that occurred throughout the fourth week of June in the company's books. The
week 4 transactions are listed below:
Week 4
Date Transaction description
25 Paid the full amount owing to J. J. Spud, Cheque No. 608.
25 Delivered 23 boxes of Golf Balls to Croquet and Cricket for $82 each, Invoice No. 504, which was ordered on
the 20th.
26 Made cash sales of $11,297 during the week.
26 Ordered 20 sets of Minor-league Base Balls from Extreme Sports Supplies for $50 each, agreed terms with
Extreme Sports Supplies are 2/10, n/30.
27 Paid the full amount owing to Hike, Cheque No. 609.
Instructions for week 4
Record all week 4 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
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2)

6/7/2018 Transactions - week 4
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ARC - Croquet and Cricket
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.
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=601.salesJournalWeek4)
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
Jun 25 504 110-6 1886
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
Jun 25 ARC - Croquet and Cricket 504 110-6 1,886
(Q=602.purchasesJournalWeek4)
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
Jun
Show All

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Sales Revenue
Jun
Jun
Feedback
There are no relevant entries in the purchases journal for this week.
(Q=603.cashReceiptsJournalWeek4)
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 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
Jun 26 x 11297 0 11297 0 0
Jun
Jun
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

6/7/2018 Transactions - week 4
https://www.perdisco.com/elms/qsam/html/qsam.aspx 4/9
APC - J. J. Spud
APC - Hike
Jun 21 ARC - Mick's Sporting Goods 110-3 2,077 2,077
Jun 26 Sales Revenue X 11,297 11,297
(Q=604.cashPaymentsJournalWeek4)
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 Wages Expense 607 516 5,432 5,432
Jun 25 608 210-3 3187 0 0 3187 0
Jun 27 609 210-1 2878 0 0 2878 0
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
Jun 25 APC - J. J. Spud 608 210-3 3,187 3,187
Jun 27 APC - Hike 609 210-1 2,878 2,878
(Q=605.generalJournalWeek4)
GENERAL JOURNAL
Date Account and Explanation Post Debit Credit

6/7/2018 Transactions - week 4
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Ref.
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)
Jun
Jun
Jun
Feedback
There are no relevant entries in the general journal for this week.
(Q=610-110-2.AcctsRec2_week4)
SUBSIDIARY LEDGERS
Account: ARC - Balls 'n All
Account No. 110-2
Date Description Ref. Debit Credit Balance
May 31 Balance 1,818 DR
Jun
Jun
Jun
Feedback
There are no relevant entries in the Balls 'n All ledger for this week.
(Q=610-110-6.AcctsRec6_week4)
Account: ARC - Croquet and Cricket
Account No. 110-6
Date Description Ref. Debit Credit Balance
May 31 Balance 0

6/7/2018 Transactions - week 4
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Jun 10 Credit sale SJ 832 832 DR
Jun 20 Repayment CRJ 300 532 DR
Jun 25 credit sale SJ 1886 0 2418 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
Jun 25 Credit sale SJ 1,886 2,418 DR
(Q=610-210-1.AcctsPay1_week4)
Account: APC - Hike
Account No. 210-1
Date Description Ref. Debit Credit Balance
May 31 Balance 1,858 CR
Jun 3 Credit purchase PJ 1,020 2,878 CR
Jun 27 repaid CPJ 2878 0 0
Jun
Jun
Feedback
Account: APC - Hike
Account No. 210-1
Date Description Ref. Debit Credit Balance
May 31 Balance 1,858 CR
Jun 3 Credit purchase PJ 1,020 2,878 CR
Jun 27 Repayment CPJ 2,878 0
(Q=610-210-3.AcctsPay3_week4)
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

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Jun 25 repaid CPJ 3187 0 0
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
Jun 25 Repayment CPJ 3,187 0
(Q=610-210-4.AcctsPay4_week4)
Account: APC - Extreme Sports Supplies
Account No. 210-4
Date Description Ref. Debit Credit Balance
May 31 Balance 1,686 CR
Jun 4 Repayment CPJ 1,686 0
Jun
Jun
Jun
Feedback
There are no relevant entries in the Extreme Sports Supplies ledger for this week.
(Q=620-100.CashAtBank_week4)
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.

6/7/2018 Transactions - week 4
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(Q=620-110.AcctsRecControl_week4)
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.
(Q=620-120.Inventory_week4)
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=620-210.AcctsPayControl_week4)
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
Jun
Jun
Jun
Feedback
There are no relevant entries in the Accounts Payable Control ledger for this week.
(Q=620-400.SalesRevenue_week4)

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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=620-500.Purchases_week4)
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.
Manual Accounting Practice Set
Ball-Mart, Australasian Edition 3 (VBA3q)
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