11/10/2015

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.
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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)

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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

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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
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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

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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
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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

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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)

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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

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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
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TherearenorelevantentriesinthePurchaseDiscountsledgerforthisweek.

ManualAccountingPracticeSet
ChocoHolly,USGAAPEdition3(VBU3q)
20092014Perdisco/latin/.v.,learnthoroughly
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