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Transactionsweek2
ManualAccountingPracticeSet
ChocoHolly,USGAAPEdition3
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YouarenowinstructedtorecordtransactionsthatoccurredthroughoutthesecondweekofJuneintothecompany's
books.Theweek2transactionsarelistedbelow:
Week2
Date Transactiondescription
9
CandyManreturned$3,669worthofproduct.IssuedaCreditMemorandumfor$3,669.
10
PaidthefullamountowingtoSpud'sConfectionery,CheckNo.906.
11
Madecashsalesof$11,198duringtheweek.
12
Sold8boxesofMixedTrufflestoCandyRushfor$160each,InvoiceNo.202.
12
CentralCandypaidthefullamountowingontheiraccount.SinceCentralCandyhasbeenaloyalcustomerfrom
thedaythebusinesscommenced,a10%discountwasgivenforthisearlyrepayment.
Instructionsforweek2
1) Recordallweek2transactionsintherelevantjournals.
Notethatspecialjournalsmustbeusedwhereapplicable.Anytransactionthatcannotberecordedinaspecialjournal
shouldberecordedinthegeneraljournal.
2) Postentriesrecordedinthejournalstotheappropriateledgeraccountsaccordingtothecompany'saccounting
policiesandprocedures.
http://www.perdisco.com/elms/qsam/html/qsam.aspx
1/11
11/10/2015
Transactionsweek2
Notethattherelevanttotalsofthespecialjournalswillbepostedtothegeneralledgeraccountsattheendofthe
month.YouwilldothisbeforeyoupreparetheBankReconciliationStatement.
BackOnTrackfunctionality
Pleasenotethatanyanswersfrompreviouspagescarriedthroughontothispage(eitheronthepageorina
popupinformationpage)havebeenreset,ifnecessary,tothecorrectanswers.Yourparticularanswersfrom
previouspagesarenolongershown.
Remember:
Eachtransactionrecordedinaspecialjournalmustbeenteredinoneline.Inordertoreceivefullpoints,youmust
notsplituptherelevanttransactionintomorethanonelineinthespecialjournal.
Youarerequiredtoenterallanswerstothenearestwholedollar.Whencalculatingadiscount,ifadiscountis
notawholenumber,roundthediscounttothenearestwholedollar.Then,tocalculatethecashamount,subtract
thediscountfromtheoriginalamount.
Theremaybeentriesinthegeneraljournalthatrequirepostingtobothacontrolaccountandasubsidiaryledger.
Inthesecases,afteryouhavepostedtobothledgers,youshouldenterthereferenceforboththegeneralledger
accountandthesubsidiaryledgeraccountinthePostRef.columntoindicatethatyouhavepostedtoboth
accounts.Forexample,ifthereferencenumberforthecontrolaccountis110andthereferencenumberforthe
subsidiaryledgeraccountis1101,youshouldtype'110/1101'intothePostRef.column.
YouarealsorequiredtoapplythejournalsandledgersinstructionsprovidedinWeek1.
BeforepressingtheSubmitanswersbutton,werecommendthatyouclicktheShowAlltabandcheckthatallrelevant
accountingrecordshavebeencompleted.
ShowAll SpecialJournals
GeneralJournal
SubsidiaryLedgers
GeneralLedger
(Q=401.salesJournalWeek2)
SALESJOURNAL
Date
Account
Jun
4 ARCCandyMan
Jun
12
ARCCandyRush
Invoice
No.
Post
Ref.
Amount
201
1103
1,530
202
1106
1280
Jun
Jun
Jun
Feedback
SALESJOURNAL
Date
Jun
Account
4 ARCCandyMan
Jun 12 ARCCandyRush
Invoice Post
Amount
No.
Ref.
201 1103
1,530
202 1106
1,280
(Q=402.purchasesJournalWeek2)
http://www.perdisco.com/elms/qsam/html/qsam.aspx
2/11
11/10/2015
Transactionsweek2
PURCHASESJOURNAL
Date
Account
Post
Ref.
Terms
Jun
6 APCBrennanImportsGroup
Jun
6 APCGillardWholesalers
Jun
Jun
Jun
Jun
Amount
net30
2103
840
2/10,n/30
2101
660
Feedback
Therearenorelevantentriesinthepurchasesjournalforthisweek.
(Q=403.cashReceiptsJournalWeek2)
CASHRECEIPTSJOURNAL
Note:Inordertoreceivefullpoints,foreachtransactionyoumustselectanaccountunderthecolumnlabeled'Account',
asindicatedundertheadditionalinstructionsabove.SincealltransactionsinthisjournalaffecttheCashaccount,youare
askedtoenterthenameoftheappropriateaccountcreditedinthesetransactionsintotheAccountcolumnsothatthe
typeoftransactioncanbedeterminedbythenameoftheaccountenteredintothiscolumn.
Date
Account
Jun
1 BankLoanPayable
Jun
Post
Ref.
Debit
Cash
Credit
Sales
Discounts
Sales
Revenue
Accounts
Other
Receivable Accounts
250
53,000
53,000
4 SalesRevenue
6,151
6,151
11198
11198
1101
1826
203
2029
Jun
11
SalesRevenue
Jun
12
ARCCentralCandy
Jun
Jun
Jun
Jun
Feedback
CASHRECEIPTSJOURNAL
Date
Account
http://www.perdisco.com/elms/qsam/html/qsam.aspx
Post
Ref.
Debit
Cash
Sales
Discounts
Credit
Sales
Accounts
Other
Revenue Receivable Accounts
3/11
11/10/2015
Transactionsweek2
Jun
1 BankLoanPayable
250
53,000
53,000
Jun
4 SalesRevenue
6,151
6,151
Jun 11 SalesRevenue
11,198
11,198
1101
1,826
203
2,029
Jun 12 ARCCentralCandy
(Q=404.cashPaymentsJournalWeek2)
CASHPAYMENTSJOURNAL
Note:Inordertoreceivefullpoints,foreachtransactionyoumustselectanaccountunderthecolumnlabeled'Account',
asindicatedundertheadditionalinstructionsabove.SincealltransactionsinthisjournalaffecttheCashaccount,youare
askedtoenterthenameoftheappropriateaccountdebitedinthesetransactionsintotheAccountcolumnsothatthe
typeoftransactioncanbedeterminedbythenameoftheaccountenteredintothiscolumn.
Date
Account
Check
No.
Debit
Post
Ref.
Credit
Accounts
Other
Purchases
Payable
Accounts
Cash
Purchase
Discounts
Jun
2 Purchases
903
1,080
1,080
Jun
3 APCEastTangiersCooperative
904
2104
2,020
1,980
40
Jun
4 APCHershel's
905
2102
2,506
2,481
25
906
2105
1856
1856
Jun
10
APCSpud'sConfectionery
Jun
Jun
Jun
Jun
Jun
Feedback
CASHPAYMENTSJOURNAL
Date
Account
Check
No.
Post
Ref.
Debit
Credit
Accounts
Other
Purchases
Payable
Accounts
Cash
Purchase
Discounts
Jun
2 Purchases
903
1,080
1,080
Jun
3 APCEastTangiersCooperative
904
2104
2,020
1,980
40
Jun
4 APCHershel's
905
2102
2,506
2,481
25
906
2105
1,856
1,856
Jun 10 APCSpud'sConfectionery
(Q=405.generalJournalWeek2)
GENERALJOURNAL
http://www.perdisco.com/elms/qsam/html/qsam.aspx
4/11
11/10/2015
Transactionsweek2
Date
Jun
Post
Ref.
AccountandExplanation
SalesReturnsandAllowances
Credit
401
3669
1103
3669
9 ARCCandyMan
Debit
Jun
Jun
Feedback
GENERALJOURNAL
Date
Post
Ref.
AccountandExplanation
Jun
9 SalesReturnsandAllowances
Jun
9 ARCCandyMan
Debit
Credit
401
3,669
110/1103
3,669
(salesreturn)
(Q=4101101.AcctsRec1_week2)
SUBSIDIARYLEDGERS
Account:ARCCentralCandy
AccountNo.1101
Date
May
Jun
Description
Ref.
31 Balance
12
Debit
Credit
Repayment
CRJ
Balance
2029
2,029DR
0
Jun
Jun
Feedback
Account:ARCCentralCandy
AccountNo.1101
Date
Description
http://www.perdisco.com/elms/qsam/html/qsam.aspx
Ref.
Debit
Credit
Balance
5/11
11/10/2015
Transactionsweek2
May
31 Balance
Jun
12 Repayment
2,029DR
CRJ
2,029
(Q=4101103.AcctsRec3_week2)
Account:ARCCandyMan
AccountNo.1103
Date
May
Description
Ref.
Debit
4 Creditsale
Jun
Return
Balance
3,929DR
SJ
1,530
5,459DR
3669
31 Balance
Jun
Credit
GJ
1790 DR
Jun
Jun
Feedback
Account:ARCCandyMan
AccountNo.1103
Date
May
Description
Ref.
Debit
31 Balance
Credit
Balance
3,929DR
Jun
4 Creditsale
SJ
1,530
5,459DR
Jun
9 Salesreturn
GJ
3,669
1,790DR
(Q=4101106.AcctsRec6_week2)
Account:ARCCandyRush
AccountNo.1106
Date
May
Description
Ref.
Debit
31 Balance
Jun
12
CreditSales
SJ
Credit
Balance
1280
1280 DR
Jun
Jun
Feedback
Account:ARCCandyRush
AccountNo.1106
Date
Description
May
31 Balance
Jun
12 Creditsale
http://www.perdisco.com/elms/qsam/html/qsam.aspx
Ref.
Debit
Credit
Balance
SJ
1,280
1,280DR
6/11
11/10/2015
Transactionsweek2
(Q=4102105.AcctsPay5_week2)
Account:APCSpud'sConfectionery
AccountNo.2105
Date
May
Description
Ref.
Debit
31 Balance
Jun
10
Repayment
CPJ
Credit
Balance
1856
1,856CR
0
Jun
Jun
Feedback
Account:APCSpud'sConfectionery
AccountNo.2105
Date
Description
May
31 Balance
Jun
10 Repayment
Ref.
Debit
Credit
Balance
1,856CR
CPJ
1,856
(Q=420100.Cash_week2)
GENERALLEDGER
Account:Cash
AccountNo.100
Date
May
Description
Ref.
31 Balance
Debit
Credit
Balance
28,857DR
Jun
Jun
Jun
Feedback
TherearenorelevantentriesintheCashledgerforthisweek.
(Q=420110.AcctsRecControl_week2)
Account:ARCAccountsReceivableControl
AccountNo.110
Date
May
Description
Ref.
31 Balance
Jun
http://www.perdisco.com/elms/qsam/html/qsam.aspx
Debit
Credit
Balance
9,595DR
7/11
11/10/2015
Transactionsweek2
Jun
Jun
Feedback
Account:ARCAccountsReceivableControl
AccountNo.110
Date
May
Description
Ref.
31 Balance
Jun
9 SalesreturnfromCandyMan
Debit
Credit
9,595DR
GJ
3,669
5,926DR
(Q=420120.Inventory_week2)
Account:MerchandiseInventory
AccountNo.120
Date
May
Balance
Description
Ref.
31 Balance
Debit
Credit
Balance
71,208DR
Jun
Jun
Jun
Feedback
TherearenorelevantentriesintheMerchandiseInventoryledgerforthisweek.
(Q=420210.AcctsPayControl_week2)
Account:APCAccountsPayableControl
AccountNo.210
Date
May
Description
Ref.
31 Balance
Debit
Credit
Balance
12,588CR
Jun
Jun
Jun
Feedback
TherearenorelevantentriesintheAccountsPayableControlledgerforthisweek.
Account:SalesRevenue
AccountNo.400
http://www.perdisco.com/elms/qsam/html/qsam.aspx
(Q=420400.SalesRevenue_week2)
8/11
11/10/2015
Transactionsweek2
Date
May
Description
Ref.
31 Balance
Debit
Credit
Balance
Jun
Jun
Jun
Feedback
TherearenorelevantentriesintheSalesRevenueledgerforthisweek.
(Q=420401.SalesReturns_week2)
Account:SalesReturnsandAllowances
AccountNo.401
Date
May
Description
Ref.
31 Balance
Jun
Debit
CandyMan
GJ
Credit
Balance
3669
0
3669 DR
Jun
Jun
Feedback
Account:SalesReturnsandAllowances
AccountNo.401
Date
May
Description
Ref.
31 Balance
Jun
9 SalesreturnfromCandyMan
Debit
Credit
GJ
3,669
3,669DR
(Q=420402.SalesDisc_week2)
Account:SalesDiscounts
AccountNo.402
Date
May
Jun
Description
Ref.
31 Balance
12
CentralCandy
Balance
Debit
CRJ
Credit
Balance
203
203 DR
Jun
Jun
Feedback
http://www.perdisco.com/elms/qsam/html/qsam.aspx
9/11
11/10/2015
Transactionsweek2
TherearenorelevantentriesintheSalesDiscountsledgerforthisweek.
(Q=420500.Purchases_week2)
Account:Purchases
AccountNo.500
Date
May
Description
Ref.
31 Balance
Debit
Credit
Balance
Jun
Jun
Jun
Feedback
TherearenorelevantentriesinthePurchasesledgerforthisweek.
(Q=420501.PurchaseReturns_week2)
Account:PurchaseReturnsandAllowances
AccountNo.501
Date
May
Description
Ref.
31 Balance
Debit
Credit
Balance
Jun
Jun
Jun
Feedback
TherearenorelevantentriesinthePurchaseReturnsandAllowancesledgerforthisweek.
(Q=420502.PurchaseDisc_week2)
Account:PurchaseDiscounts
AccountNo.502
Date
May
Description
Ref.
31 Balance
Debit
Credit
Balance
Jun
Jun
Jun
Feedback
http://www.perdisco.com/elms/qsam/html/qsam.aspx
10/11
11/10/2015
Transactionsweek2
TherearenorelevantentriesinthePurchaseDiscountsledgerforthisweek.
ManualAccountingPracticeSet
ChocoHolly,USGAAPEdition3(VBU3q)
20092014Perdisco/latin/.v.,learnthoroughly
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