Transactions - Week 4 | Manual Accounting Practice Set

Record transactions that occurred throughout the fourth week of June in the company's books. Get graded and improve your accounting skills with Desklib.

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Manual Accounting Practice Set
Technology Boutique, Australasian Edition 3
Transactions - week 4
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
23 Delivered 3 Zii Game Consoles to Jerry Technology for $1,859 each, Invoice No. 304, which was ordered on the 20 th.
24 Paid the full amount owing to Moon Megasystems, Cheque No. 781.
25 Made cash sale of 54 Tony ZIO MLP Projectors for $990 each.
25 Paid sales staff wages of $12,560 for the week up to and including yesterday, Cheque No. 782.
26 Paid the full amount owing to Big Telco, Cheque No. 783.
27 Ordered 14 MX620 Notebook Computers from Mega Tech for $1,221 each, agreed terms with Mega Tech are 2/10, n/30.
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.
Update inventory cards on a daily basis.
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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 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=601.salesJournalWeek4)
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 ARC - Handys Electronics 303 110-5 97,559 8,869 88,690 50,690
Jun
Jun
Jun
Jun
(Q=602.purchasesJournalWeek4)
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
(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.
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).
Show All

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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
Jun
Jun
Jun
Jun
Jun
Jun
(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.
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 Prepaid Rent 779 140 240 2,400 2,640
Jun 18 Wages Expense 780 X 13,282 13,282
Jun
Jun
Jun
Jun
Jun
Jun

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(Q=605.generalJournalWeek4)
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)
Jun
Jun
Jun
(Q=610-110-6.AcctsRec6_week4)
SUBSIDIARY LEDGERS
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
Jun
Jun
Jun
(Q=610-210-1.AcctsPay1_week4)

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Account: APC - Big Telco
Account No. 210-1
Date Description Ref. Debit Credit Balance
May 31 Balance 5,184 CR
Jun 6 Credit purchase PJ 19,536 24,720 CR
Jun
Jun
Jun
(Q=610-210-3.AcctsPay3_week4)
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
Jun
Jun
Jun
(Q=610-210-4.AcctsPay4_week4)
Account: APC - Mega Tech
Account No. 210-4
Date Description Ref. Debit Credit Balance
May 31 Balance 11,550 CR
Jun 5 Repayment CPJ 11,550 0
Jun
Jun
Jun
(Q=620-100.CashAtBank_week4)
GENERAL LEDGER
Account: Cash at Bank
Account No. 100
Date Description Ref. Debit Credit Balance
May 31 Balance 96,668 DR
Jun
Jun
Jun
(Q=620-110.AcctsRecControl_week4)
Account: ARC - Accounts Receivable Control
Account No. 110

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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
(Q=620-120.Inventory_week4)
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
Jun
Jun
Jun
(Q=620-135.TaxPaid_week4)
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
Jun
Jun
Jun
(Q=620-210.AcctsPayControl_week4)
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
Jun
Jun
Jun
(Q=620-240.TaxCollected_week4)
Account: GST Collections
Account No. 240
Date Description Ref. Debit Credit Balance
May 31 Balance 19,577 CR

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Jun 13 Sales return from Hypertronics GJ 360 19,217 CR
Jun
Jun
Jun
(Q=620-400.SalesRevenue_week4)
Account: Sales Revenue
Account No. 400
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun
Jun
Jun
(Q=620-500.CostOfSales_week4)
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
(Q=620-516.WagesExpense_week4)
Account: Wages Expense
Account No. 516
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun
Jun
Jun
(Q=630.Inventory3_week4)
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 51 500 25500
Jun 2 19 650 12350 51 500 25500
19 650 12350

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Jun 6 11 500 5500 40 500 20000
19 650 12350
Jun 13 -4 500 -2000 44 500 22000
19 650 12350
Jun
Jun
Jun
Jun
(Q=630.Inventory4_week4)
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
Jun 9 21 820 17220 12 900 10800
8 900 7200
Jun
Jun
Jun

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Jun
(Q=630.Inventory5_week4)
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
Jun
Jun
Jun
Jun
Manual Accounting Practice Set
Technology Boutique, Australasian Edition 3 (VTA3q)
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