Tech Head Edition: Manual Accounting Practice Set Week 4 Solution

This document provides a detailed solution to a manual accounting practice set, specifically addressing the transactions that occurred during the fourth week of June. The solution includes the recording of transactions in relevant journals such as the sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. It also covers the posting of entries from these journals to the appropriate ledger accounts, including subsidiary ledgers for accounts receivable and accounts payable. Furthermore, the solution demonstrates the updating of inventory cards on a daily basis to reflect the impact of these transactions on inventory levels and costs. Transactions include sales on credit, cash sales, payments to suppliers, receipts from customers, and returns of faulty goods, all meticulously recorded and posted to provide an accurate representation of the company's financial activities during the specified period. Desklib offers a variety of solved assignments and past papers to aid students in their studies.

6/6/2018 Transactions - week 4
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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)

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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.
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.
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)
3)
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

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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

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APC - Mega Tech
Inventory
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 APC - Moon Megasystems 661 210-1 34,600 33,908 692
Jun 25 Wages Expense 662 X 13,452 13,452
(Q=605.generalJournalWeek4)
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)
Jun 28 210/210-5 2832 0
28 x 0 2832
Jun
Jun
Feedback
GENERAL JOURNAL
Date Account and Explanation Post
Ref. Debit Credit
Jun 20 Sales Returns and Allowances 401 5,976

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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)
Jun 28 APC - Mega Tech 210/210-5 2,832
Jun 28 Inventory 120 2,832
(purchase return)
(Q=610-110-3.AcctsRec3_week4)
SUBSIDIARY LEDGERS
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
Jun 24 repaid CRJ 0 20098 0
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
Jun 24 Repayment CRJ 20,098 0
(Q=610-110-5.AcctsRec5_week4)
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
Jun

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23 cr.sale SJ 179568 0 185376 DR
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
Jun 23 Credit sale SJ 179,568 185,376 DR
(Q=610-110-6.AcctsRec6_week4)
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
Jun 25 cr, sale SJ 36784 0 38178 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
Jun 25 Credit sale SJ 36,784 38,187 DR
(Q=610-210-1.AcctsPay1_week4)
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
Jun 23 repaid CPJ 34600 0 0
Jun

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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
Jun 23 Repayment CPJ 34,600 0
(Q=610-210-4.AcctsPay4_week4)
Account: APC - Big Telco
Account No. 210-4
Date Description Ref. Debit Credit Balance
May 31 Balance 3,356 CR
Jun
Jun
Jun
Feedback
There are no relevant entries in the Big Telco ledger for this week.
(Q=610-210-5.AcctsPay5_week4)
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
Jun 28 return GJ 2832 0 5192 CR
Jun
Jun
Feedback
Account: APC - Mega Tech
Account No. 210-5
Date Description Ref. Debit Credit Balance

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May 31 Balance 2,548 CR
Jun 14 Repayment CPJ 2,548 0
Jun 18 Credit purchase PJ 8,024 8,024 CR
Jun 28 Purchase return GJ 2,832 5,192 CR
(Q=620-100.CashAtBank_week4)
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=620-110.AcctsRecControl_week4)
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
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 214,336 DR
Jun 20 Sales return from Radio Hut GJ 3,672 218,008 DR
Jun 28 return GJ 0 2832 215176 DR
Jun

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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
Jun 28 Purchase return to Mega Tech GJ 2,832 215,176 DR
(Q=620-210.AcctsPayControl_week4)
Account: APC - Accounts Payable Control
Account No. 210
Date Description Ref. Debit Credit Balance
May 31 Balance 47,757 CR
Jun 28 purchase return GJ 2832 0 44925 CR
Jun
Jun
Feedback
Account: APC - Accounts Payable Control
Account No. 210
Date Description Ref. Debit Credit Balance
May 31 Balance 47,757 CR
Jun 28 Purchase return to Mega Tech GJ 2,832 44,925 CR
(Q=620-400.SalesRevenue_week4)
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=620-402.DiscountRecd_week4)

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Account: Discount Received
Account No. 402
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun
Jun
Jun
Feedback
There are no relevant entries in the Discount Received ledger for this week.
(Q=620-500.CostOfSales_week4)
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
Jun
Jun
Jun
Feedback
There are no relevant entries in the Cost of Sales ledger for this week.
(Q=620-516.WagesExpense_week4)
Account: Wages Expense
Account No. 516
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun
Jun
Jun
Feedback
There are no relevant entries in the Wages Expense ledger for this week.
(Q=620-573.DiscountAllowed_week4)
Account: Discount Allowed
Account No. 573
Date Description Ref. Debit Credit Balance

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May 31 Balance 0
Jun
Jun
Jun
Feedback
There are no relevant entries in the Discount Allowed ledger for this week.
(Q=630.Inventory1_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 12 352 4224
24 472 11328
Jun 13 4 352 1408 8 352 2816
24 472 11328
Jun 18 17 472 8024 8 352 2816
41 472 19352
Jun 28 -6 472 -2832 0 0 0 8 352 2816
0 0 0 35 472 16520
Jun
Jun
Jun
Feedback
Tony ZIO MLP Projectors

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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 8 352 2816
41 472 19352
Jun 28 -6 472 -2832 8 352 2816
35 472 16520
(Q=630.Inventory3_week4)
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
Jun 27 0 0 0 34 408 13872 16 408 6528
0 0 0 0 0 0
Jun
Jun
Jun
Feedback

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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
Jun 27 34 408 13872 16 408 6528
(Q=630.Inventory4_week4)
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
Jun 25 0 0 0 6 944 5664 7 1184 8288
13 1184 15392 0 0 0
Jun
Jun
Jun
Feedback
DK800 Desktop Computers

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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
Jun 25 6 944 5664 7 1184 8288
13 1184 15392
(Q=630.Inventory5_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 49 1256 61544
Jun 9 17 1256 21352 66 1256 82896
Jun 17 25 1384 34600 66 1256 82896
25 1384 34600
Jun 23 0 0 0 66 1256 82896 4 1384 5536
21 1384 29064 0 0 0
Jun
Jun
Jun
Feedback
Zii Game Consoles

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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
Jun 23 66 1256 82896 4 1384 5536
21 1384 29064
Manual Accounting Practice Set
Tech Head, Australasian Edition 3 (VSA3q)
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