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ManualAccountingPracticeSet
BallMart,USGAAPEdition3
Feedback:Reversingentries
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TodayisthefirstdayofJuly.Tosimplifytherecordingoftransactionsinthenewaccountingperiod,youarerequiredto
journalizeappropriatereversingentriesintothegeneraljournalandpostthesetothegeneralledger.
Instructionsforreversingentries
1) UsingtheadjustingentriesinformationandthepostclosingtrialbalanceforthemonthofJune,recordinthegeneral
journalanyentriesthatarerequiredtoreversethefollowingadjustingentriesfromthatmonth:
Electricityexpenseincurredbutnotpaid
Waterexpenseincurredbutnotpaid
Wagesowedtotheemployeesbuthavenotyetbeenpaidincash
Interestexpenseincurredbutnotpaidtothelender
Interestearnedbutnotreceivedincash
Notethatallledgeraccountspresentedonthispagehavenormalopeningbalances.
2) Postthereversingentriesfromthegeneraljournaltotherelevantgeneralledgeraccounts.
BackOnTrackfunctionality
Pleasenotethatanyanswersfrompreviouspagescarriedthroughontothispage(eitheronthepageorina
popupinformationpage)havebeenreset,ifnecessary,tothecorrectanswers.Yourparticularanswersfrom
previouspagesarenolongershown.
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5/14/2017 Reversingentries
Remember:
Enterallanswerstothenearestwholedollar.
Youarealsorequiredtoapplythejournalsandledgersinstructionsprovidedinthepreviousweeks.
BeforepressingtheSubmitanswersbutton,werecommendthatyouclicktheShowAlltabandcheckthatallrelevant
accountingrecordshavebeencompleted.
(Q=981.generalJournal)
GeneralJournal
Post
Date AccountandExplanation Debit Credit
Ref.
Jul 1
Jul 1 (select)
Jul 1
Jul 1 (select)
Feedback
GENERALJOURNAL
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5/14/2017 Reversingentries
(Q=982110.acctsRecControl)
GENERALLEDGER
Account:ARCAccountsReceivableControl
AccountNo.110
Jul
Jul
Feedback
TherearenorelevantentriesintheAccountsReceivableControlledgerforthisquestion.
(Q=982112.interestReceivable)
Account:InterestReceivable
AccountNo.112
Jul
Feedback
Account:InterestReceivable
AccountNo.112
(Q=982140.prepaidRent)
Account:PrepaidRent
AccountNo.140
Jul
Jul
Feedback
TherearenorelevantentriesinthePrepaidRentledgerforthisquestion.
(Q=982141.prepaidAdvertising)
Account:PrepaidAdvertising
AccountNo.141
Jul
Jul
Feedback
TherearenorelevantentriesinthePrepaidAdvertisingledgerforthisquestion.
(Q=982142.prepaidInsurance)
Account:PrepaidInsurance
AccountNo.142
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5/14/2017 Reversingentries
Jul
Jul
Feedback
TherearenorelevantentriesinthePrepaidInsuranceledgerforthisquestion.
(Q=982210.acctsPayControl)
Account:APCAccountsPayableControl
AccountNo.210
Jul
Jul
Feedback
TherearenorelevantentriesintheAccountsPayableControlledgerforthisquestion.
(Q=982220.wagesPayable)
Account:WagesPayable
AccountNo.220
Jul
Feedback
Account:WagesPayable
AccountNo.220
(Q=982221.electricityPayable)
Account:ElectricityPayable
AccountNo.221
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5/14/2017 Reversingentries
Jul
Feedback
Account:ElectricityPayable
AccountNo.221
(Q=982222.waterPayable)
Account:WaterPayable
AccountNo.222
Jul
Feedback
Account:WaterPayable
AccountNo.222
(Q=982225.interestPayable)
Account:InterestPayable
AccountNo.225
Jul
Feedback
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5/14/2017 Reversingentries
Account:InterestPayable
AccountNo.225
(Q=982403.interestRevenue)
Account:InterestRevenue
AccountNo.403
Jun 30 Balance 0
Jul
Feedback
Account:InterestRevenue
AccountNo.403
Jun 30 Balance 0
Jul 1 Reversingentry GJ 120 120DR
(Q=982511.advertisingExpense)
Account:AdvertisingExpense
AccountNo.511
Jun 30 Balance 0
Jul
Jul
Feedback
TherearenorelevantentriesintheAdvertisingExpenseledgerforthisquestion.
(Q=982516.wagesExpense)
Account:WagesExpense
AccountNo.516
Jun 30 Balance 0
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5/14/2017 Reversingentries
Jul 1 reversing GJ 0 1520 1520 CR
Jul
Feedback
Account:WagesExpense
AccountNo.516
Jun 30 Balance 0
Jul 1 Reversingentry GJ 1,520 1,520CR
(Q=982540.rentExpense)
Account:RentExpense
AccountNo.540
Jun 30 Balance 0
Jul
Jul
Feedback
TherearenorelevantentriesintheRentExpenseledgerforthisquestion.
(Q=982541.electricityExpense)
Account:ElectricityExpense
AccountNo.541
Jun 30 Balance 0
Jul
Feedback
Account:ElectricityExpense
AccountNo.541
Jun 30 Balance 0
Jul 1 Reversingentry GJ 896 896CR
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5/14/2017 Reversingentries
(Q=982542.waterExpense)
Account:WaterExpense
AccountNo.542
Jun 30 Balance 0
Jul
Feedback
Account:WaterExpense
AccountNo.542
Jun 30 Balance 0
Jul 1 Reversingentry GJ 218 218CR
(Q=982543.insuranceExpense)
Account:InsuranceExpense
AccountNo.543
Jun 30 Balance 0
Jul
Jul
Feedback
TherearenorelevantentriesintheInsuranceExpenseledgerforthisquestion.
(Q=982571.interestExpense)
Account:InterestExpense
AccountNo.571
Jun 30 Balance 0
Jul
Feedback
Account:InterestExpense
AccountNo.571
https://www.perdisco.com/elms/qsam/html/qsam.aspx 9/10
5/14/2017 Reversingentries
Jun 30 Balance 0
Jul 1 Reversingentry GJ 260 260CR
ManualAccountingPracticeSet
BallMart,USGAAPEdition3(VCU3q)
20092014Perdisco/latin/.v.,learnthoroughly
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