End of Month Posting

Manual Accounting Practice Set Hi­Fi Way, Australasian Edition 3

Feedback: End of month posting 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.

Your progress

Your grading Your grading outcome (still in progress)  

Awarded Total

Points (prior to this page)

614

626

Points (on this page)

120

121

−

289

Points (after this page) Total

734 1,036

 

 Completed:

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. Back­On­Track 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. You are also required to apply the journals and ledgers 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. If you want to print this page, please read and follow the special printing 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

110­3

1,920  

Jun

13 ARC ­ Radio Hut

502

110­6

680  

Jun

16 ARC ­ Turbo Tech

503

110­5

900  

Jun

25 ARC ­ Radio Hut

504

110­6

720  

Jun Jun Jun Jun Total Post Reference

4220  

 

( 110 )  / ( 400 ) 

 

   Feedback

SALES JOURNAL Date

Account

Invoice Post No. Ref.

Amount

 

501 110­3

1,920  

Jun 13 ARC ­ Radio Hut

502 110­6

680  

Jun 16 ARC ­ Turbo Tech

503 110­5

900  

Jun 25 ARC ­ Radio Hut

504 110­6

720  

Jun

5 ARC ­ Jerry Technology

Total

4,220   (110)/(400)  

Post Reference

(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

210­3

640  

2/10, n/30

210­1

1,410  

2/10, n/30

210­4

880  

Jun Jun Jun Jun Total

2930  

 

Post Reference  

( 210 )  / ( 500 ) 

   Feedback

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 210­3

640  

2/10, n/30 210­1

1,410  

2/10, n/30 210­4

880  

Total

2,930   (210)/(500)  

Post Reference

(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

Accounts Receivable

Other Accounts

 

250

53,000

 

 

 

53,000

5 Sales Revenue

X

7,369

 

7,369

 

 

Jun

12 Sales Revenue

X

9,898

 

9,898

 

 

Jun

13 ARC ­ Handys Electronics

110­1

2,229

248

 

2,477

 

Jun

16 ARC ­ Radio Hut

110­6

600

 

 

600

 

Jun

19 Sales Revenue

X

9,312

 

9,312

 

 

Jun

20 ARC ­ Jerry Technology

110­3

1,292

 

 

1,292

 

Jun

26 Sales Revenue

X

9,649

 

9,649

 

 

Jun

30 ARC ­ Hypertronics

110­4

2,592

 

 

2,592

 

Jun

30 Sales Revenue

X

5,878

 

5,878

 

 

Jun

30 ARC ­ Radio Hut

110­6

­600

 

 

­600

 

Jun

30 Interest Revenue

403

217

 

 

 

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.

Cash at Bank

 

Credit

Discount Allowed

Sales Accounts Other   Revenue Receivable Accounts

250

53,000

 

 

 

53,000

5 Sales Revenue

X

7,369

 

7,369

 

 

Jun 12 Sales Revenue

X

9,898

 

9,898

 

 

Jun 13 ARC ­ Handys Electronics

110­1

2,229

248

 

2,477

 

Jun 16 ARC ­ Radio Hut

110­6

600

 

 

600

 

X

9,312

 

9,312

 

 

110­3

1,292

 

 

1,292

 

X

9,649

 

9,649

 

 

110­4

2,592

 

 

2,592

 

X

5,878

 

5,878

 

 

Jun 30 ARC ­ Radio Hut

110­6

­600

 

 

­600

 

Jun 30 Interest Revenue

403

217

 

 

 

217

101,436

248

42,106

6,361

53,217  

(100)

(573)

(400)

(110)

(X)  

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

Total Post reference

(Q=814.cashPaymentsJournalEndMonth)

CASH PAYMENTS JOURNAL Date

Account

Cheque No.

Debit

Post Ref.

Accounts Payable

 

Credit Other Accounts

Purchases

Cash at Bank

Discount Received

 

Jun

3 APC ­ Pear Technology

903

210­2

2,083

 

 

2,062

21  

Jun

5 Purchases

904

X

 

1,620

 

1,620

   

Jun

7 APC ­ JCN Electrical

905

210­4

2,252

 

 

2,207

45  

Jun

13 APC ­ Pony

906

210­5

1,923

 

 

1,923

   

Jun

15 Wages Expense

907

516

 

 

5,595

5,595

   

Jun

25 APC ­ Moon Megasystems

908

210­1

5,298

 

 

5,298

   

Jun

28 APC ­ Mega Tech

909

210­3

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

   

Jun Jun Jun Jun Jun Jun Total Post Reference

14191  

(

210 ) 

1620  

(

500 ) 

16638  

(

X ) 

32,383 (100) (

66  

 

402 ) 

 

   Feedback

CASH PAYMENTS JOURNAL Date

Account

Cheque No.

Post Ref.

Debit

 

Credit

Accounts Other Purchases Payable Accounts

Cash at Bank

Discount Received

 

Jun

3 APC ­ Pear Technology

903

210­2

2,083

 

 

2,062

21  

Jun

5 Purchases

904

X

 

1,620

 

1,620

   

Jun

7 APC ­ JCN Electrical

905

210­4

2,252

 

 

2,207

45  

Jun 13 APC ­ Pony

906

210­5

1,923

 

 

1,923

   

Jun 15 Wages Expense

907

516

 

 

5,595

5,595

   

Jun 25 APC ­ Moon Megasystems

908

210­1

5,298

 

 

5,298

   

Jun 28 APC ­ Mega Tech

909

210­3

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

   

14,191

1,620

16,638

32,383

66  

(210)

(500)

(X)

(100)

(402)  

Jun 30 Bank Charges Total Post reference

(Q=815­100.CashAtBank_endMonth)

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

Description 31 Balance

Ref.

Debit

Credit

 

Balance

 

 

 

25,647 DR  

Jun

30 Total from cash receipts journal

CRJ

101,436

 

127,083 DR  

Jun

30 Total from cash payments journal

CPJ

 

32,383

94,700 DR  

Jun

30

 

Jun

30

 

Jun

30

 

Jun

30 Unadjusted Balance

94700  

DR

   Feedback

Account: Cash at Bank  Account No. 100 Date May

Description 31 Balance

Ref.

Debit

Credit

Balance

 

 

 

 

25,647 DR  

Jun

30 Total from cash receipts journal

CRJ

101,436

 

127,083 DR  

Jun

30 Total from cash payments journal

CPJ

 

32,383

94,700 DR  

Jun

30 Unadjusted Balance

Account: ARC ­ Accounts Receivable Control 

94,700 DR  

(Q=815­110­0.ARControl_endMonth)

Account No. 110 Date May

Description

Ref.

31 Balance

Debit

Credit

 

Balance

 

 

 

11,430 DR  

GJ

 

3,504

7,926 DR  

Jun

12 Sales return from Jerry Technology

Jun

30

Total from sales journal

SJ

Jun

30

Total from cash receipts journal

CRJ

Jun

30

 

Jun

30

 

Jun

30 Unadjusted Balance

4220

0

12146  

DR

0

6361

5785  

DR

5785  

DR

   Feedback

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

Description

Ref.

Debit

31 Balance

Credit

 

Balance

 

 

 

11,430 DR  

Jun

12 Sales return from Jerry Technology

GJ

 

3,504

7,926 DR  

Jun

30 Total from sales journal

SJ

4,220

 

12,146 DR  

Jun

30 Total from cash receipts journal

CRJ

 

6,361

5,785 DR  

Jun

30 Unadjusted Balance

5,785 DR  

(Q=815­210­0.APControl_endMonth)

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

Description

Ref.

Debit

Credit

 

Balance

 

 

 

14,017 CR  

GJ

1,876

 

12,141 CR  

31 Balance

Jun

18 Purchase return to Mega Tech

Jun

30

Total from purchase journal

PJ

Jun

30

Total from cash payments journal

CPJ

Jun

30

 

Jun

30

 

Jun

30 Unadjusted Balance

0

2930

15071  

CR

14191

0

880  

CR

880  

CR

   Feedback

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

Description 31 Balance

Ref.

Debit

Credit

Balance

 

 

 

 

14,017 CR  

Jun

18 Purchase return to Mega Tech

GJ

1,876

 

12,141 CR  

Jun

30 Total from purchases journal

PJ

 

2,930

15,071 CR  

Jun

30 Total from cash payments journal

CPJ

14,191

 

880 CR  

Jun

30 Unadjusted Balance

880 CR  

(Q=815­400.SalesRevenue_endMonth)

Account: Sales Revenue  Account No. 400 Date May

Description

Ref.

31 Balance

Debit

Credit

 

 

Balance

 

0  

 

Jun

30

Total from sales journal

SJ

0

4220

4220  

CR

Jun

30

Total from cash receipts journal

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

 

 

 

0  

SJ

 

4,220

4,220 CR  

CRJ

 

42,106

46,326 CR   46,326 CR  

(Q=815­401.SalesReturns_endMonth)

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

Description 31 Balance

 

Balance

Ref.

Debit

Credit

 

Balance

 

 

 

0  

GJ

3,504

 

3,504 DR  

Jun

12 Sales return from Jerry Technology

Jun

30

 

Jun

30

 

Jun

30

 

Jun

30 Unadjusted Balance

3504  

DR

   Feedback

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

Description 31 Balance

Jun

12 Sales return from Jerry Technology

Jun

30 Unadjusted Balance

Account: Discount Received  Account No. 402

Ref.

Debit

Credit

Balance

 

 

 

 

0  

GJ

3,504

 

3,504 DR   3,504 DR  

(Q=815­402.DiscountReceived_endMonth)

Date May

Description

Ref.

31 Balance

Debit

Credit

 

 

CPJ

0  

 

Jun

30

Jun

30

 

Jun

30

 

Jun

30 Unadjusted Balance

Total from cash payments journal

 

Balance

0

66  

66

66  

CR

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

 

 

 

0  

CPJ

 

66

66 CR   66 CR  

(Q=815­500.Purchases_endMonth)

Account: Purchases  Account No. 500 Date May

 

Balance

Description

Ref.

31 Balance

Debit  

Credit

 

Balance

 

0  

 

Jun

30

Total from purchases journal

PJ

2930

0

2930  

DR

Jun

30

Total from cash payments journal

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

 

 

 

0  

PJ

2,930

 

2,930 DR  

CPJ

1,620

 

4,550 DR   4,550 DR  

(Q=815­501.PurchaseReturns_endMonth)

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

Description 31 Balance

Jun

18 Purchase return to Mega Tech

Jun

30

 

Balance

Ref.

Debit

Credit

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.

31 Balance

Jun

18 Purchase return to Mega Tech

Jun

30 Unadjusted Balance

Debit

Credit

 

 

 

0  

GJ

 

1,876

1,876 CR   1,876 CR  

(Q=815­573.DiscountAllowed_endMonth)

Account: Discount Allowed  Account No. 573 Date May

Description

Ref.

31 Balance

Debit

Credit

 

 

CRJ

 

Balance

0  

 

Jun

30

Jun

30

 

Jun

30

 

Jun

30 Unadjusted Balance

Total from cash receipts journal

 

Balance

248

248  

0

248  

DR

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 Hi­Fi 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