Transactions - Week 4 | Manual Accounting Practice Set | Tech Head, Australasian Edition 3

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Manual Accounting Practice Set
Tech Head, Australasian Edition 3
Feedback: Transactions - week 4
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.
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 Paid the full amount owing to Moon Megasystems, Cheque No. 661. This payment relates to the credit
purchase that was made in the previous week.
23 Sold 87 Zii Game Consoles to Jerry Technology for $2,064 each, Invoice No. 489.
24 Radio Hut paid the full amount owing on their account.
25 Delivered 19 DK800 Desktop Computers to Pikea for $1,936 each, Invoice No. 490. These items were
ordered on the 18th.
25 Paid sales staff wages of $13,452 for the week up to and including yesterday, Cheque No. 662.
25 Ordered 17 Zii Game Consoles from Big Telco for $1,384 each. Agreed terms with Big Telco are 2/10, n/30.
27 Made cash sale of 34 BlueBerry Phones for $664 each.
28 Returned 6 faulty Tony ZIO MLP Projectors, originally purchased for $472 each, to Mega Tech. Received a
Credit Note for $2,832.
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.
1)
2)

6/6/2018 Transactions - week 4
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ARC - Jerry Technology
ARC - Pikea
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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Remember:
Enter all answers to the nearest whole dollar.
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=601.salesJournalWeek4)
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
Jun 23 489 110-5 179568 111960
Jun 25 490 110-6 36784 21056
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
Jun 23 ARC - Jerry Technology 489 110-5 179,568 111,960
Jun 25 ARC - Pikea 490 110-6 36,784 21,056
(Q=602.purchasesJournalWeek4)
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Show All

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ARC - Radio Hut
Sales Revenue
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
Jun
Jun
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 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
Jun 24 110-3 20098 0 0 20098 0 0
Jun 27 X 22576 0 22576 0 0 13872
Jun
Jun
Jun
Jun
Feedback
CASH RECEIPTS JOURNAL
Date Account Post Debit Credit Cost of

6/6/2018 Transactions - week 4
https://www.perdisco.com/elms/qsam/html/qsam.aspx 4/16
APC - Moon Megasyste
Wages Expense
Ref. 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
Jun 24 ARC - Radio Hut 110-3 20,098 20,098
Jun 27 Sales Revenue X 22,576 22,576 13,872
(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 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 Wages Expense 660 X 13,362 13,362
Jun 23 661 210-1 34600 0 0 0 33908 692
Jun 25 662 X 0 0 13452 0 13452 0
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