Financial Accounting Practice Set Solution - UWS Perdisco

This document presents a solution to a Perdisco accounting practice set, designed for financial accounting students. The practice set involves a simulated business environment where students manually record and post transactions, creating general and subsidiary ledgers. Students will work with cash and credit transactions, ultimately preparing a bank reconciliation statement and an accounting worksheet to complete the end-of-period adjustment process. The solution includes the creation of a trial balance and financial statements. The practice set utilizes a unique accounting scenario with an automated grading system and feedback to help students learn. This solution can assist students in understanding the entire accounting cycle, from initial transactions to final financial reporting. The provided solution covers the entire accounting cycle, including journal entries, ledger postings, worksheet preparation, and financial statement generation, making it a comprehensive resource for students tackling similar assignments.

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200111.1: Financial Accounting Applications
Perdisco
Publisher Email instructor Print
200111.1, UWS, 2019, Autumn session
Instructor: Sharne Simmons
- Introduction
Welcome to Perdisco's Manual Accounting Practice Set.
This VirtualTutor practice set requires students to manually record and post a variety of
business transactions through the completion of a one-month accounting cycle for a
fictional business. This practice set implements our AutoGrade, AntiCheat, Feedback
and Back-on-track features.
What to expect
Students will work on a business that is set up as a private non-listed company that
uses the perpetual inventory system and is a registered entity for GST purposes.
Students start by recording cash and credit transactions for the allocated business to
general and special journals, posting them to general and subsidiary ledgers. At the
end of an accounting period, the bank reconciliation statement and the accounting
worksheet are prepared using the records of the business. Students then use the
worksheet to complete the end of period adjustment process. Finally, students finish
the accounting cycle by preparing a trial balance and constructing the financial
statements.
Completing the practice set
The practice set provides each student with a unique accounting scenario containing a
different company and algorithmically determined transactions. The activity continues
over a number of web pages. Students will be required to submit each page before
moving on to the next. Progress through the required pages is shown using a puzzle
graphic at the top of each page.
Once each page is submitted, the practice set provides immediate ongoing feedback on
the students' performance and their progressive score to date. Our Back-on-Track
functionality then prevents any errors made from being carried throughout the
students' ongoing attempt.
Student companion
Please download and read the Student companion & helpful hints (1.2Mb) document.
It describes what you will experience when you complete your practice set and
provides helpful hints.
Further assistance
For technical assistance, please email [e-mail] and for help with the
academic concepts covered, please contact your instructor.
To begin, click on the Practice set link below.
- Online practice set
Before you get started on the practice set, please make sure you read the Student
Companion document.
You have one attempt at the practice set. Your score from this practice set counts
toward your final grade.
Name Dates Attempts Score

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remainingStart End Recent
Practice set (assessment) 25/3 16:00 27/5 09:00 - 84%
- Survey
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