Perdisco Week 2

Manual Accounting Practice Set Ball-Mart, Australasian Edition 3

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$n%ormation %rom pre&ious pages  

!eneral instructions Policies and procedures

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24

3!1

1$21

All transactions Ad"usting entries information Trial balance # $ay Schedules of accounts # $ay nventory cards # $ay Bank reconciliation # $ay Bank statement # %une Special printing information %ournals and ledgers instructions nventory cards instructions &ou are now instructed to record transactions that occurred throughout the second eekof %une into the company's books. The week ( transactions are listed below)          

Week 2 Date Transaction des cription 8

old 33 pairs o& 'ootall oots to *reat ports &or +429 ea,h$ -n.oi,e /o0 4410

11

Paid the &ull amount owing to xtreme ports -n,$ heue /o0 90

11

Paid sales sta&& wages o& +1$"2 &or the wee5 up to and in,luding yesterday$ heue /o0 90

12

i,57s porting *oods returned 3 martue noo5er ets that were srcinally sold &or +649 ea,h on " 8une0 These items ,ost +32! ea,h (ex,luding 1!% *T) and were not &aulty or damaged0 -ssued a redit /ote &or +1$940

12

ade payment o& +1$3" to nro&& &or 3 months o& ele,tri,ity up to and in,luding 31 ay$ heue /o0 990

14

alls 7n All paid the &ull amount owing on their a,,ount0 in,e alls 7n All has een a loyal ,ustomer &rom the day the usiness ,ommen,ed$ a 1!% dis,ount was gi.en &or this early repayment0

14

ade ,ash sale o& 19 oxes o& uiddit,h ludgers &or +9!2 ea,h0

$nstructions %or eek ! '(*ecord all week ( transactions in the relevant "ournals. +ote that special "ournals must be used where applicable. Any transaction that cannot be recorded in a special "ournal should be recorded in the general "ournal. !(Post entries recorded in the "ournals to the appropriate ledger accounts according to the company's accounting policies and procedures . +ote that the relevant totals of the special "ournals will be posted to the general ledger accounts at the end of the month. &ou will enter this after you prepare the Bank *econciliation Statement. 3(pdate inventory cards on a daily basis. Back-)n-Track %unctionality

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. &our particular answers from previous pages are no longer shown. *emember: 

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/ach transaction recorded in a special "ournal must be entered in one line. n order to receive full points, you must not split up the relevant transaction into more than one line in the special "ournal. /nter all answers to the nearest +ole dollar . 0hen calculating a discount, if a discount is not a whole number, round the discount to the nearest whole dollar. Then, to calculate the cash at bank amount, subtract the discount from the srcinal amount.

n this practice set, in order to receive full points, every transaction entered in a special "ournal re1uires an entry in the Post *ef. column. +ote that in the special "ournals, if the account name selected for a transaction corresponds to the heading of one of the columns in that special "ournal, the post ref is to be recorded as an . This is because these transactions are not posted on a daily basis. n order to receive full points, you must record only the letter  in the Post *ef. column for these transactions. &ou are re1uired to enter the !ST component of a transaction as a positive number into the "ournals. To record an amount in a !ST account, you need to enter that amount into the appropriate debit or credit column. 0hen recording a transaction into the general "ournal, the amount recorded in one account may be the sum of the amounts recorded in two or more accounts. 2or example, a "ournal entry may consist of a debit of 3455 to Account A, a credit of 365 to Account B and a credit of 375 to Account 8. 2or these types of transactions, you must not split the t ransaction into more than one "ournal entry

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i.e. -4 9r Account A 365, 8r Account B 365 and -( 9r Account A 375, 8r Account 8 375. nstead, you must record the 3455 debit to Account A in a single line. There may be entries in the general "ournal that re1uire posting to both a control account and a subsidiary ledger. n 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 *ef. column to indicate that you have posted to both accounts. 2or example, if the reference number for the control account is 445 and the reference number for the subsidiary ledger account is 445#4, you should type '445:445#4'into the Post *ef. column. 0hen completing the inventory cards, you may enter a positive or negative number into the nits and Total 8ost columns but all unit costs must be entered as positive numbers into the nit 8ost columns. &ou are also re1uired to apply the "ournals and ledgers instructions and the inventory cards instructions provided in previous weeks. Before pressing the Submit answers button, we recommend that you click the S+o Alltab and check that all relevant accounting records have been completed.

S+o All

Special %ournals!eneral %ournal Subsidiary ;edgers!eneral ;edgernventory -

94

Accou nts Payabl e

21! $!! ;4

GS T

Invent ory

" "$!! !

Creit Wa&e s '()e nse

$t!er Accou nts

G ST

Disco unt Recei ve

$"4 14 6

14!

Cas! at "ank

6$3 !

8u 4 AP?i5e ; n 8u 4 @agesPayale n 8u n

AP ; xtreme ports -n, (sele,t)

8u n

@ater xpense(sele,t)

8u n

le,tri,ity Payale (sele,t)

8u n

(sele,t)

8u n

(sele,t)

8u n

(sele,t)

-

21! 11$!! ;2 !

9"

1!$ 1! 9! 1$! 1$!!! 4

96 22!

1!!

2$! 4

Feedback

"AS1 PA#ME0TS .)/*0A

Date

Account

Debit

C!e% ue No.

Post Ref.

93

>

Accou nts Payabl e

GS T

Invent ory

" !

"$!!

Creit Wa&e s '()en se

$t!er Accou nts

Cas! at "ank

GS T

Discou nt Receiv e

8u n

1 -n.entory

8u n

2 AP;8080pud

94

21! ;4

$!!

$"4 14 6

14!

8u n

4 AP;?i5e

9"

21! ;2

11$!! !

1!$ 1! 9!

1!!

8u n

4 @agesPayale

u n

1 !0C " treme 1 $ports 3nc

u n

1 agespense 1

u n

1 lectricit50a5a6le 2

96 * *8 **

22! 21% "

1$!4

1$!!!

2$! 4 8'&% %

8'&%%

/ 221

6$3 !

1'2 8

1'28 12 

1'2%

1'- 

-@week(

Account) ARC - Mick's Sporting Goods Account +o. 445#>

Date

Descri)tion

Ref.

Debit

Creit

ay 31 alan,e 8un

8

9$3"

"$461 :

*8P88:8P8

::

*8P88:8P8

8un

::

*8P88:8P8

8un

-

4$26 :

" redit sale

8un

"alance

::

Feedback

Account) ARC - Mick's Sporting Goods Account +o. 445#>

Date Descri)tion ay3 1 alan,e

8un

" reditsale

un1 2$ alesreturn

Ref.

8

Debit

Creit

"alance 4$26 :

9$3"

#

"$461: 1'*4

&'14 DR -