Accounting Practice Set

Manual Accounting Practice Set Hi-Fi Way, Australasian Edition 3

Feedback: End of month month posting This is a feedback page.  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  Continue  at the bottom of this page to move on to the next page of  your practice set.

Your progress

Your grading  Your grading outcome (still in progress progress)) Awarded Awarded Total Poin Points ts (prior ior to this this page)

614

626

P oint s (on t his page)

120

121

−

289

Points (after  (after  t his page) Total

Completed:

734 1, 036

59% (approximately)

Remaining pages will take: up to 7 hours The time frames we provide are a guide only. It may take you more or less time to complete each step.

Now that you have completed the June bank reconciliation process, you are ready to perform the end of month posting procedure. The purpose of this end of month posting is to transfer the totals from the special journals to the appropriate general ledger accounts so that the balances in those ledger accounts reflect all of the transactions that occurred throughout the period. Instructions for end of month posting 1) Total the remaining columns in the special journals. Record the amount in the Total row of each journal. 2) Post the totals of the remaining columns in the special journals to their corresponding ledger account. To confirm that the posting has been performed, a posting reference is recorded in the last row of the special journals. If the total of a column is not required to be posted, you need to record an X  in the post reference field for that column. 3) Record the final unadjusted balance of each ledger account in the Unadjusted Balance row of each ledger, even for ledgers with a balance of zero. Although each ledger already has a running balance, the Unadjusted Balance row must still be filled out in order to receive full points. 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. dollar. You are also required to apply the  journals and ledg ledgers ers instructions instructions   provided in previous weeks. Before pressing the Submit answers button, we recommend that you click the Show All  All  tab and check that all relevant accounting records have been completed. If you want to print this page, please read and follow the special printing information  information   to ensure you can print the special  journals in full.

Show All Special Journals

General Journal Subsidiary Ledgers   General Ledger (Q=811.salesJournalEndMonth)

SALES JOURNAL Date

 

Account  

Jun

5 ARC - Jerry Technology

Invoice No.

Post  Ref.

 

Amount 

501

110-3

1,920

Jun

13 ARC - Radio Hut

502

110-6

680

Jun

16 ARC - Turbo Tech

503

110-5

900

Jun

25 ARC - Radio Hut

504

110-6

720

Jun Jun Jun Jun Total

4220

Post Reference

( 110  )

/ ( 400 )

Feedback

SALES JOURNAL Date Jun

Account  

 

5 ARC - Jerry Technology

Invoice Post    Amount  No. Ref. 501 110-3

1,920

Jun 13 ARC - Radio Hut

502 110-6

680

Jun 16 ARC - Turbo Tech

503 110-5

900

Jun 25 ARC - Radio Hut

504 110-6

720

Total

4,220

Post Reference

(110)/(400)

(Q=812.purchasesJournalEndMonth)

PURCHASES JOURNAL Date

Account

Jun

3 APC - Mega Tech

Jun

3 APC - Moon Megasystems

Jun

30 APC - JCN Electrical

Terms

 

Post  Ref.

 

Amount 

net 30

210-3

640

2/10, n/30

210-1

1,410

2/10, n/30

210-4

880

Jun Jun Jun Jun Total

2930

Post Reference ( 210  )

/ ( 500 )

Feedback

PURCHASES JOURNAL Date

Account

Terms

Jun

3 APC - Mega Tech

Jun

3 APC - Moon Megasystems

Jun 30 APC - JCN Electrical

  Post    Amount  Ref.

net 30 210-3

640

2/10, n/30 210-1

1,410

2/10, n/30 210-4

880

Total

2,930

Post Reference

(210)/(500)

(Q=813.cashReceiptsJournalEndMonth)

CASH RECEIPTS JOURNAL

Date

Account  

Jun

1 Bank Loan Payable

Jun

 

Post  Ref.

Debit Cash at  Bank 

Credit  

Discount   Allowed 

Sales Revenue

250

53,000

5 Sales Revenue

X

7,369

7,369

Jun

12 Sales Revenue

X

9,898

9,898

Jun

13 ARC - Handys Electronics

110-1

2,229

Jun

16 ARC - Radio Hut

110-6

600

Jun

19 Sales Revenue

X

9,312

Jun

20 ARC - Jerry Technology

110-3

1,292

Jun

26 Sales Revenue

X

9,649

Jun

30 ARC - Hypertronics

110-4

2,592

Jun

30 Sales Revenue

X

5,878

Jun

30 ARC - Radio Hut

110-6

-600

Jun

30 Interest Revenue

403

217

 Accounts Receivable

Other   Accounts

53,000

248

2,477 600 9,312 1,292 9,649 2,592 5,878 -600 217

Jun Jun Jun Jun Jun Jun Total Post Reference

Feedback

101,436 (100) (

248 573  )

42106

(

400  )

6361

(

110  )

217

(

X  )

CASH RECEIPTS JOURNAL

Date

 

Account  

Jun

1 Bank Loan Payable

Jun

Debit

Post  Ref.

Credit  

Cash at  Discount  Sales  Accounts Other  Bank   Allowed  Revenue Receivable  Accounts

250

53,000

5 Sales Revenue

X

7,369

7,369

Jun 12 Sales Revenue

X

9,898

9,898

Jun 13 ARC - Handys Electronics

110-1

2,229

Jun 16 ARC - Radio Hut

110-6

600

X

9,312

110-3

1,292

X

9,649

110-4

2,592

X

5,878

Jun 30 ARC - Radio Hut

110-6

-600

Jun 30 Interest Revenue

403

217

Jun 19 Sales Revenue Jun 20 ARC - Jerry Technology Jun 26 Sales Revenue Jun 30 ARC - Hypertronics Jun 30 Sales Revenue

Total

53,000

248

2,477 600 9,312 1,292 9,649 2,592 5,878 -600 217

101,436

248

42,106

6,361

53,217

(100)

(573)

(400)

(110)

(X)

Post reference

(Q=814.cashPaymentsJournalEndMonth)

CASH PAYMENTS JOURNAL

Date

Account  

 

Cheque No.

Debit

Post  Ref.

 Accounts Payable

 

Purchases

Credit    

Other   Accounts

Cash at  Bank 

Jun

3 APC - Pear Technology

903

210-2

2,083

Jun

5 Purchases

904

X

Jun

7 APC - JCN Electrical

905

210-4

2,252

2,207

1,923

1,923

Discount  Received 

2,062 1,620

21

1,620

Jun

13 APC - Pony

906

210-5

Jun

15 Wages Expense

907

516

Jun

25 APC - Moon Megasystems

908

210-1

5,298

5,298

Jun

28 APC - Mega Tech

909

210-3

2,635

2,635

Jun

29 Wages Expense

910

516

5,137

5,137

Jun

30 Salary Expense

911

545

5,900

5,900

Jun

30 Bank Charges

X

572

6

6

5,595

45

5,595

Jun Jun Jun Jun Jun Jun Total Post Reference

14191

(

210  )

16638  

1620

(

500  )

(

X )

32,383 (100) (

66 402  )

  Feedback

CASH PAYMENTS JOURNAL

Date

Account  

 

Cheque No.

Post  Ref.

Debit

Credit  

 Accounts   Other    Purchases Payable  Accounts

Discount  Received 

2,062

21

Jun

3 APC - Pear Technology

903

210-2

Jun

5 Purchases

904

X

Jun

7 APC - JCN Electrical

905

210-4

2,252

2,207

Jun 13 APC - Pony

906

210-5

1,923

1,923

Jun 15 Wages Expense

907

516

Jun 25 APC - Moon Megasystems

908

210-1

5,298

5,298

Jun 28 APC - Mega Tech

909

210-3

2,635

2,635

Jun 29 Wages Expense

910

516

5,137

5,137

Jun 30 Salary Expense

911

545

5,900

5,900

X

572

6

6

Jun 30 Bank Charges

2,083

Cash at  Bank 

1,620

1,620

5,595

Total

45

5,595

14,191

1,620

16,638

32,383

66

(210)

(500)

(X)

(100)

(402)

Post reference

(Q=815-100.CashAtBank_endMonth)

GENERAL LEDGER  Account: Cash at Bank  Account No. 100 Date May

Description

Ref.

Debit

Credit

31 Balance

Balance 25,647 DR

J un

30 Total from cas h receipts journal

CRJ

Jun

30 Total from cash payments journal

CPJ

Jun

30

Jun

30

Jun

30

Jun

30 Unadjusted Balance

101,436

127,083 DR 32,383

94,700 DR

94700

DR

  Feedback

Account: Cash at Bank  Account No. 100 Date May

Description

Ref.

Debit

Credit

31 Balance

Balance 25,647 DR

Jun

30 Total from cash receipts journal

CRJ

Jun

30 Total from cash payments journal

CPJ

Jun

30 Unadjusted Balance

101,436

127,083 DR 32,383

94,700 DR 94,700 DR

(Q=815-110-0.ARControl_endMonth)

Account: ARC - Accounts Receivable Control 

Account No. 110 Date May

Description

Ref.

Debit

Credit

Balance

31 Balance

11,430 DR

Jun

12 Sales return from Jerry Technology

GJ

Jun

30

Total from sales jou

SJ

Jun

30

Total from cash rec

CRJ

Jun

30

Jun

30

Jun

30 Unadjusted Balance

3,504

7,926 DR

4220

0

12146

DR

0

6361

5785

DR

5785

DR

  Feedback

Account: ARC - Accounts Receivable Control  Account No. 110 Date May

Description

Ref.

Debit

Credit

Balance

31 Balance

11,430 DR

Jun

12 Sales return from Jerry Technology

GJ

Jun

30 Total from sales journal

SJ

Jun

30 Total from cash receipts journal

Jun

30 Unadjusted Balance

3,504

7,926 DR

4,220

12,146 DR

CRJ

6,361

5,785 DR 5,785 DR

(Q=815-210-0.APControl_endMonth)

Account: APC - Accounts Payable Control  Account No. 210 Date May

Description

Ref.

Debit

Credit

Balance

31 Balance

14,017 CR

Jun

18 Purchase return to Mega Tech

GJ

Jun

30

Total from purchas

PJ

Jun

30

Total from cash pay

CPJ

Jun

30

Jun

30

Jun

30 Unadjusted Balance

1,876

12,141 CR

0

2930

15071

CR

14191

0

880

CR

880

CR

  Feedback

Account: APC - Accounts Payable Control  Account No. 210 Date May

Description

Ref.

Debit

Credit

31 Balance

Balance 14,017 CR

Jun

18 Purchase return to Mega Tech

GJ

Jun

30 Total from purchases journal

PJ

Jun

30 Total from cash payments journal

Jun

30 Unadjusted Balance

CPJ

1,876

12,141 CR 2,930

14,191

15,071 CR 880 CR 880 CR

(Q=815-400.SalesRevenue_endMonth)

Account: Sales Revenue Account No. 400 Date May

Description

Ref.

Debit

Credit

Balance

31 Balance

0

Jun

30

Total from sales jou

SJ

0

4220

4220

CR

Jun

30

Total from cash rec

CRJ

0

42106

46326

CR

Jun

30

Jun

30 Unadjusted Balance

46326

CR

  Feedback

Account: Sales Revenue Account No. 400 Date

Description

May

31 Balance

Jun

30 Total from sales journal

Jun

30 Total from cash receipts journal

Jun

30 Unadjusted Balance

Ref.

Debit

Credit

Balance 0

SJ

4,220

4,220 CR

CRJ

42,106

46,326 CR 46,326 CR

(Q=815-401.SalesReturns_endMonth)

Account: Sales Returns and Allowances Account No. 401 Date May

Description

Ref.

Debit

Credit

Balance

31 Balance

0

Jun

12 Sales return from Jerry Technology

Jun

30

Jun

30

Jun

30

Jun

30 Unadjusted Balance

GJ

3,504

3,504 DR

3504

DR

  Feedback

Account: Sales Returns and Allowances Account No. 401 Date May

Description

Ref.

Debit

31 Balance

Jun

12 Sales return from Jerry Technology

Jun

30 Unadjusted Balance

Credit

Balance 0

GJ

3,504

3,504 DR 3,504 DR

(Q=815-402.DiscountReceived_endMonth)

Account: Discount Received  Account No. 402

Date May

Description

Ref.

Debit

Credit

Balance

31 Balance

0

Jun

30

Jun

30

Jun

30

Jun

30 Unadjusted Balance

Total from cash pay

CPJ

0

66

66

CR

66

CR

  Feedback

Account: Discount Received  Account No. 402 Date

Description

Ref.

May

31 Balance

Jun

30 Total from cash payments journal

Jun

30 Unadjusted Balance

Debit

Credit

Balance 0

CPJ

66

66 CR 66 CR

(Q=815-500.Purchases_endMonth)

Account: Purchases Account No. 500 Date May

Description

Ref.

Debit

Credit

Balance

31 Balance

0

Jun

30

Total from purchas

PJ

2930

0

2930

DR

Jun

30

Total from cash pay

CPJ

1620

0

4550

DR

Jun

30

Jun

30 Unadjusted Balance

4550

DR

  Feedback

Account: Purchases Account No. 500 Date

Description

Ref.

May

31 Balance

Jun

30 Total from purchases journal

Jun

30 Total from cash payments journal

Jun

30 Unadjusted Balance

Debit

Credit

Balance 0

PJ

2,930

2,930 DR

CPJ

1,620

4,550 DR 4,550 DR

(Q=815-501.PurchaseReturns_endMonth)

Account: Purchase Returns and Allowances Account No. 501 Date May

Description

Ref.

Debit

Credit

31 Balance

Jun

18 Purchase return to Mega Tech

Jun

30

Balance 0

GJ

1,876

1,876 CR

Jun

30

Jun

30

Jun

30 Unadjusted Balance

1876

CR

  Feedback

Account: Purchase Returns and Allowances Account No. 501 Date May

Description

Ref.

Debit

Credit

Balance

31 Balance

0

Jun

18 Purchase return to Mega Tech

Jun

30 Unadjusted Balance

GJ

1,876

1,876 CR 1,876 CR

(Q=815-573.Di scountAllowed_endMonth)

Account: Discount Allowed  Account No. 573 Date May

Description

Ref.

Debit

Credit

Balance

31 Balance

0

Jun

30

Jun

30

Jun

30

Jun

30 Unadjusted Balance

Total from cash rec

CRJ

248

0

248

DR

248

DR

  Feedback

Account: Discount Allowed  Account No. 573 Date

Description

May

31 Balance

Jun

30 Total from cash receipts journal

Jun

30 Unadjusted Balance

Manual Accounting Practice Set  Hi-Fi Way, Australasian Edition 3 (VBA3p) © 2010 Perdisco / latin /. v., learn thoroughly  http://www.perdisco.com Terms Of Use | Privacy Policy  | Tuesday, June 10, 2014, 11:53

Ref.

Debit

Credit

Balance 0

CRJ

248

248 DR 248 DR