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Transactionsweek3
ManualAccountingPracticeSet
SpecialtySportsStore,USGAAPEdition3
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Usingthecompany'srecordsthatareprovidedbelow,youarenowrequiredtorecordtransactionsthatoccurred
throughoutthethirdweekofJune.Theweek3transactionsarelistedbelow.
Week3
Date Transactiondescription
15
Purchased16ExtremeGPSenabledHelmetsfromJ.J.Spudfor$248each,terms2/10,n/30.
15
Sold9TonyEagleFreestyleSkateboardstoJumpAroundfor$368each,InvoiceNo.899.
15
Mick'sSportingGoodspaid$1,400inpartialpaymentoftheiraccount.
16
Purchased14DownhillSnowboardsfromExtremeSportsIncfor$304each,termsnet30.
18
Paidsalesstaffwagesof$1,963fortheweekuptoandincludingyesterday,CheckNo.433.
19
GreatSportsreturned5SpecialistBodyBoardsthatwereoriginallysoldfor$384eachon11June.Theseitems
cost$216eachandwerenotfaultyordamaged.IssuedaCreditMemorandumfor$1,920.
20
Madecashsaleof39PipeDreamSurfboardsforalistpriceof$440each.Atradediscountof20%applies.
21
ReceivedapurchaseorderfromMick'sSportingGoods.Createdacorrespondingsalesordertodeliver17Tony
EagleFreestyleSkateboardstothiscustomerfor$368each,InvoiceNo.901.
Instructionsforweek3
1) Recordallweek3transactionsintherelevantjournals.
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Transactionsweek3
Notethatspecialjournalsmustbeusedwhereapplicable.Anytransactionthatcannotberecordedinaspecial
journalshouldberecordedinthegeneraljournal.
2) Postentriesrecordedinthejournalstotheappropriateledgeraccountsaccordingtothecompany'saccounting
policiesandprocedures.
Notethattherelevanttotalsofthespecialjournalswillbepostedtothegeneralledgeraccountsattheendofthe
month.YouwillenterthisbeforeyoupreparetheBankReconciliationStatement.
3) Updateinventorycardsonadailybasis.
BackOnTrackfunctionality
Pleasenotethatanyanswersfrompreviouspagescarriedthroughontothispage(eitheronthepageorina
popupinformationpage)havebeenreset,ifnecessary,tothecorrectanswers.Yourparticularanswersfrom
previouspagesarenolongershown.
Remember:
Enterallanswerstothenearestwholedollar.Whencalculatingadiscount,ifadiscountisnotawholenumber,
roundthediscounttothenearestwholedollar.Then,tocalculatethecashamount,subtractthediscountfrom
theoriginalamount.
Theremaybeentriesinthegeneraljournalthatrequirepostingtobothacontrolaccountandasubsidiary
ledger.Inthesecases,afteryouhavepostedtobothledgers,youshouldenterthereferenceforboththe
generalledgeraccountandthesubsidiaryledgeraccountinthePostRef.columntoindicatethatyouhave
postedtobothaccounts.Forexample,ifthereferencenumberforthecontrolaccountis110andthereference
numberforthesubsidiaryledgeraccountis1101,youshouldtype'110/1101'intothePostRef.column.
Whencompletingtheinventorycards,youmayenterapositiveornegativenumberintotheUnitsandTotalCost
columnsbutallunitcostsmustbeenteredaspositivenumbersintotheUnitCostcolumns.
Youarealsorequiredtoapplythejournalsandledgersinstructionsandtheinventorycardsinstructionsprovided
inpreviousweeks.
BeforepressingtheSubmitanswersbutton,werecommendthatyouclicktheShowAlltabandcheckthatallrelevant
accountingrecordshavebeencompleted.
ShowAll SpecialJournals
GeneralJournal
SubsidiaryLedgers
GeneralLedger
Inventory
(Q=501.salesJournalWeek3)
SALESJOURNAL
Date
Account
Jun
11 ARCGreatSports
Jun
15
ARCJumpAround
Invoice
No.
Post
Ref.
Accounts
Receivable
Costof
Goods
Sold
898
1103
4,224
2,376
899
1105
3312
1440
Jun
Jun
Jun
Feedback
SALESJOURNAL
Costof
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Transactionsweek3
Date
Account
Invoice Post
No.
Ref.
Accounts
Receivable
Goods
Sold
Jun 11 ARCGreatSports
898 1103
4,224
2,376
Jun 15 ARCJumpAround
899 1105
3,312
1,440
(Q=502.purchasesJournalWeek3)
PURCHASESJOURNAL
Date
Account
Jun
Post
Ref.
Terms
8 APCAddaxSports
net30
Accounts
Payable
2106
2,760
Jun
15
APCJ.J.Spud
2/10n/30
2101
3968
Jun
16
APCExtremeSportsInc
net30
2105
4256
Jun
Jun
Feedback
PURCHASESJOURNAL
Date
Jun
Account
8 APCAddaxSports
Jun 15 APCJ.J.Spud
Jun 16 APCExtremeSportsInc
Terms
Post
Ref.
Accounts
Payable
net30 2106
2,760
2/10,n/30 2101
3,968
net30 2105
4,256
(Q=503.cashReceiptsJournalWeek3)
CASHRECEIPTSJOURNAL
Note:Inordertoreceivefullpoints,foreachtransactionyoumustselectanaccountunderthecolumnlabeled
'Account',asindicatedundertheadditionalinstructionsabove.SincealltransactionsinthisjournalaffecttheCash
account,youareaskedtoenterthenameoftheappropriateaccountcreditedinthesetransactionsintotheAccount
columnsothatthetypeoftransactioncanbedeterminedbythenameoftheaccountenteredintothiscolumn.
Date
Account
Jun
1 BankLoanPayable
Jun
3 ARCJumpAround
Jun
11 ARCCroquetandCricket
Jun
13 SalesRevenue
http://www.perdisco.com/elms/qsam/html/qsam.aspx
Post
Ref.
Debit
Cash
Credit
Sales
Discounts
Sales
Revenue
Accounts
Other
Receivable Accounts
Costof
Goods
Sold
250
42,000
42,000
1105
3,373
3,373
1101
4,383
487
4,870
10,336
10,336
4,256
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Transactionsweek3
Jun
15
ARCMick'sSportingGoods
Jun
20
SalesRevenue
1106
1400
1400
13728
3432
17160
Jun
Jun
Jun
Jun
Feedback
CASHRECEIPTSJOURNAL
Date
Post
Ref.
Account
Jun
1 BankLoanPayable
Jun
Debit
Cash
Credit
Sales
Sales
Accounts
Other
Discounts Revenue Receivable Accounts
Costof
Goods
Sold
250
42,000
42,000
3 ARCJumpAround
1105
3,373
3,373
Jun 11 ARCCroquetandCricket
1101
4,383
487
4,870
10,336
10,336
4,256
1106
1,400
1,400
13,728
13,728
8,320
Jun 13 SalesRevenue
Jun 15 ARCMick'sSportingGoods
Jun 20 SalesRevenue
(Q=504.cashPaymentsJournalWeek3)
CASHPAYMENTSJOURNAL
Note:Inordertoreceivefullpoints,foreachtransactionyoumustselectanaccountunderthecolumnlabeled
'Account',asindicatedundertheadditionalinstructionsabove.SincealltransactionsinthisjournalaffecttheCash
account,youareaskedtoenterthenameoftheappropriateaccountdebitedinthesetransactionsintotheAccount
columnsothatthetypeoftransactioncanbedeterminedbythenameoftheaccountenteredintothiscolumn.
Date
Account
Check
No.
Post
Ref.
Debit
Credit
Cash
Jun
1 PrepaidRent
424
140
9,900
9,900
Jun
3 APCAddaxSports
425
2106
4,616
4,616
Jun
4 WagesPayable
426
220
1,169
1,131
2,300
Jun
4 OfficeSupplies
427
130
519
519
Jun
6 ElectricityPayable
428
221
719
719
Jun
9 APCHike
429
2102
4,287
4,287
Jun
11 APCExtremeSportsInc
430
2105
3,957
3,957
Jun
11 WagesExpense
431
1,953
1,953
Jun
14 APCJ.J.Spud
432
2101
3,398
3,398
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Jun
WagesExpense
18
433
1963
1963
Jun
Jun
Jun
Jun
Jun
Feedback
CASHPAYMENTSJOURNAL
Date
Account
Check
No.
Post
Ref.
Debit
Credit
Cash
Jun
1 PrepaidRent
424
140
9,900
9,900
Jun
3 APCAddaxSports
425
2106
4,616
4,616
Jun
4 WagesPayable
426
220
1,169
1,131
2,300
Jun
4 OfficeSupplies
427
130
519
519
Jun
6 ElectricityPayable
428
221
719
719
Jun
9 APCHike
429
2102
4,287
4,287
Jun 11 APCExtremeSportsInc
430
2105
3,957
3,957
Jun 11 WagesExpense
431
1,953
1,953
Jun 14 APCJ.J.Spud
432
2101
3,398
3,398
Jun 18 WagesExpense
433
1,963
1,963
(Q=505.generalJournalWeek3)
GENERALJOURNAL
Date
Jun
Post
Ref.
AccountandExplanation
19
ARCGreatSports
Credit
1103
1920
401
1920
19 SalesReturnsandAllowances
Debit
Jun
Jun
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Feedback
GENERALJOURNAL
Date
Post
Ref.
AccountandExplanation
Jun
19 SalesReturnsandAllowances
Jun
19 ARCGreatSports
Debit
Credit
401
1,920
110/1103
1,920
(salesreturn)
Jun
19 MerchandiseInventory
120
1,080
Jun
19 CostofGoodsSold
500
1,080
(salesreturn)
(Q=5101103.AcctsRec3_week3)
SUBSIDIARYLEDGERS
Account:ARCGreatSports
AccountNo.1103
Date
May
Description
Ref.
31 Balance
Jun
11 Creditsale
Jun
19
Return
Debit
Credit
Balance
12,462DR
SJ
4,224
16,686DR
1920
GJ
14766 DR
Jun
Jun
Feedback
Account:ARCGreatSports
AccountNo.1103
Date
May
Description
31 Balance
Ref.
Debit
Credit
Balance
12,462DR
Jun
11 Creditsale
SJ
4,224
16,686DR
Jun
19 Salesreturn
GJ
1,920
14,766DR
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Transactionsweek3
(Q=5101105.AcctsRec5_week3)
Account:ARCJumpAround
AccountNo.1105
Date
May
Description
Ref.
3 Repayment
Jun
15
CreditSales
Credit
Balance
3,373DR
CRJ
3,373
3312
31 Balance
Jun
Debit
SJ
3312 DR
Jun
Jun
Feedback
Account:ARCJumpAround
AccountNo.1105
Date
May
Description
Ref.
31 Balance
Debit
Credit
Balance
3,373DR
Jun
3 Repayment
CRJ
3,373
Jun
15 Creditsale
SJ
3,312
3,312DR
(Q=5101106.AcctsRec6_week3)
Account:ARCMick'sSportingGoods
AccountNo.1106
Date
May
Description
Ref.
31 Balance
Jun
15
Debit
Partialpayment
CRJ
Credit
Balance
1400
2,032DR
632 DR
Jun
Jun
Feedback
Account:ARCMick'sSportingGoods
AccountNo.1106
Date
Description
May
31 Balance
Jun
15 Repayment
Account:APCJ.J.Spud
AccountNo.2101
http://www.perdisco.com/elms/qsam/html/qsam.aspx
Ref.
Debit
Credit
Balance
2,032DR
CRJ
1,400
632DR
(Q=5102101.AcctsPay1_week3)
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Transactionsweek3
Date
May
Description
Ref.
14 Repayment
Jun
15
CreditPurchase
Credit
Balance
3,398CR
CPJ
3,398
3968
31 Balance
Jun
Debit
PJ
3968 CR
Jun
Jun
Feedback
Account:APCJ.J.Spud
AccountNo.2101
Date
May
Description
Ref.
14 Repayment
Jun
15 Creditpurchase
Credit
3,398CR
CPJ
3,398
PJ
3,968
3,968CR
(Q=5102105.AcctsPay5_week3)
Account:APCExtremeSportsInc
AccountNo.2105
Date
May
Description
Ref.
31 Balance
Jun
11 Repayment
Jun
16
CreditPurchase
Balance
31 Balance
Jun
Debit
Debit
Credit
Balance
3,957CR
CPJ
3,957
4256
PJ
4256 CR
Jun
Jun
Feedback
Account:APCExtremeSportsInc
AccountNo.2105
Date
May
Description
31 Balance
Jun
11 Repayment
Jun
16 Creditpurchase
Ref.
Debit
Credit
Balance
3,957CR
CPJ
3,957
PJ
4,256
4,256CR
(Q=520100.Cash_week3)
GENERALLEDGER
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Account:Cash
AccountNo.100
Date
May
Description
Ref.
31 Balance
Debit
Credit
Balance
71,917DR
Jun
Jun
Jun
Feedback
TherearenorelevantentriesintheCashledgerforthisweek.
(Q=520110.AcctsRecControl_week3)
Account:ARCAccountsReceivableControl
AccountNo.110
Date
May
Description
Ref.
31 Balance
Debit
Credit
Balance
31,288DR
Jun
Jun
Jun
Feedback
Account:ARCAccountsReceivableControl
AccountNo.110
Date
Description
Ref.
May
31 Balance
Jun
19 SalesreturnfromGreatSports
Debit
Credit
31,288DR
GJ
1,920
29,368DR
(Q=520120.Inventory_week3)
Account:MerchandiseInventory
AccountNo.120
Date
May
Description
Ref.
31 Balance
Debit
Credit
Balance
64,088DR
Jun
Jun
Jun
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Balance
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Feedback
Account:MerchandiseInventory
AccountNo.120
Date
Description
Ref.
May
31 Balance
Jun
19 SalesreturnfromGreatSports
Debit
Credit
64,088DR
GJ
1,080
65,168DR
(Q=520210.AcctsPayControl_week3)
Account:APCAccountsPayableControl
AccountNo.210
Date
May
Balance
Description
Ref.
31 Balance
Debit
Credit
Balance
44,523CR
Jun
Jun
Jun
Feedback
TherearenorelevantentriesintheAccountsPayableControlledgerforthisweek.
(Q=520400.SalesRevenue_week3)
Account:SalesRevenue
AccountNo.400
Date
May
Description
Ref.
31 Balance
Debit
Credit
Balance
Jun
Jun
Jun
Feedback
TherearenorelevantentriesintheSalesRevenueledgerforthisweek.
(Q=520401.SalesReturns_week3)
Account:SalesReturnsandAllowances
AccountNo.401
Date
May
Description
31 Balance
http://www.perdisco.com/elms/qsam/html/qsam.aspx
Ref.
Debit
Credit
Balance
0
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Jun
19
ReturnfromGreatSports
GJ
1920 CR
1920
Jun
Jun
Feedback
Account:SalesReturnsandAllowances
AccountNo.401
Date
Description
Ref.
May
31 Balance
Jun
19 SalesreturnfromGreatSports
Debit
Credit
GJ
1,920
1,920DR
(Q=520500.CostOfSales_week3)
Account:CostofGoodsSold
AccountNo.500
Date
May
Balance
Description
Ref.
31 Balance
Debit
Credit
Balance
Jun
Jun
Jun
Feedback
Account:CostofGoodsSold
AccountNo.500
Date
Description
Ref.
May
31 Balance
Jun
19 SalesreturnfromGreatSports
Debit
Credit
GJ
1,080
1,080CR
(Q=520516.WagesExpense_week3)
Account:WagesExpense
AccountNo.516
Date
May
Description
Ref.
31 Balance
Debit
Credit
Balance
Jun
Jun
Jun
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Balance
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Transactionsweek3
Feedback
TherearenorelevantentriesintheWagesExpenseledgerforthisweek.
(Q=530.Inventory1_week3)
INVENTORYCARDS
DownhillSnowboards
Purchases
Date
CostofGoodsSold
Balance
($)
($)
($)
($)
($)
($)
May
31
22
224
4928
15
304
4560
Jun
13
19
224
4256
224
672
15
304
4560
Jun
16
14
304
4256
224
672
29
304
8816
Jun
Jun
Jun
Feedback
DownhillSnowboards
Purchases
Date
CostofGoodsSold
Balance
($)
($)
($)
($)
($)
($)
May
31
22
224
4928
15
304
4560
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Jun
13
19
224
4256
224
672
15
304
4560
Jun
16
14
304
4256
224
672
29
304
8816
(Q=530.Inventory2_week3)
PipeDreamSurfboards
Purchases
Date
CostofGoodsSold
Balance
($)
($)
($)
($)
($)
($)
May
31
26
200
5200
69
240
16560
Jun
Jun
Jun
Jun
Feedback
PipeDreamSurfboards
Purchases
Date
CostofGoodsSold
Balance
($)
($)
($)
($)
($)
($)
May
31
26
200
5200
69
240
16560
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Transactionsweek3
Jun
20
26
200
5200
56
240
13440
13
240
3120
(Q=530.Inventory3_week3)
SpecialistBodyBoards
Purchases
Date
CostofGoodsSold
Balance
($)
($)
($)
($)
($)
($)
May
31
75
216
16200
Jun
11
11
216
2376
64
216
13824
Jun
19
216
1080
69
216
14904
Jun
Jun
Jun
Feedback
SpecialistBodyBoards
Purchases
Date
CostofGoodsSold
Balance
($)
($)
($)
($)
($)
($)
May
31
75
216
16200
Jun
11
11
216
2376
64
216
13824
Jun
19
216
1080
69
216
14904
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Transactionsweek3
(Q=530.Inventory4_week3)
TonyEagleFreestyleSkateboards
Purchases
Date
CostofGoodsSold
Balance
($)
($)
($)
($)
($)
($)
May
31
19
160
3040
21
192
4032
Jun
15
160
1440
10
160
1600
21
192
4032
Jun
Jun
Jun
Feedback
TonyEagleFreestyleSkateboards
Purchases
Date
CostofGoodsSold
Balance
($)
($)
($)
($)
($)
($)
May
31
19
160
3040
21
192
4032
Jun
15
160
1440
10
160
1600
21
192
4032
ExtremeGPSEnabledHelmets
http://www.perdisco.com/elms/qsam/html/qsam.aspx
(Q=530.Inventory5_week3)
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Transactionsweek3
Purchases
Date
CostofGoodsSold
Balance
($)
($)
($)
($)
($)
($)
May
31
52
184
9568
Jun
15
184
2760
67
184
12328
Jun
15
16
248
3968
Jun
Jun
Jun
Feedback
ExtremeGPSEnabledHelmets
Purchases
Date
CostofGoodsSold
Balance
($)
($)
($)
($)
($)
($)
May
31
52
184
9568
Jun
15
184
2760
67
184
12328
Jun
15
16
248
3968
67
184
12328
16
248
3968
ManualAccountingPracticeSet
SpecialtySportsStore,USGAAPEdition3(VSU3q)
20092014Perdisco/latin/.v.,learnthoroughly
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