Perdisco - Transactions - Week 4

6/11/2020 Transactions - week 4
Manual Accounting Practice Set

The Adrenaline Hut, Australasian Edition 3
Feedback: Transactions - week 4

This is a feedback page. Please review this page carefully because later pages in this practice set build on the feedback
provided here. After you have reviewed your feedback page, click Continue at the bottom of this page to move on to the
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Your progress Your grading
Your grading outcome (still in progress)

Awarded Total
Points (prior to this page) 356 384
Points (on this page) 88 88
Points (after this page) − 578
Total 444 1,050
Completed: 36% (approximately)
Remaining pages will take: up to 12.25 hours

The time frames we provide are a guide only. It may
take you more or less time to complete each step.
You are now asked to record transactions that occurred throughout the fourth week of June in the company's books. The
week 4 transactions are listed below:
Week 4
Date Transaction description
22 Paid the full amount owing to Sport Borders, Cheque No. 775. This payment relates to the credit purchase that was
made in the previous week.
23 Sold 76 Bungee Kits to Mick's Sporting Goods for $504 each, Invoice No. 425.
25 Delivered 24 Downhill Snowboards to Balls 'n All for $568 each, Invoice No. 426. These items were ordered on the
21st.
25 The Locker Room paid the full amount owing on their account.
25 Paid sales staff wages of $1,688 for the week up to and including yesterday, Cheque No. 776.
27 Made cash sale of 56 Tony Eagle Freestyle Skateboards for $384 each.
27 Ordered 11 Bungee Kits from J. J. Spud for $360 each. Agreed terms with J. J. Spud are 2/10, n/30.
28 Returned 8 faulty Pipe Dream Surfboards, originally purchased for $384 each, to Addax Sports. Received a Credit
Note for $3,072.
Instructions for week 4
1) Record all week 4 transactions in the relevant journals.
Note that special journals must be used where applicable. Any transaction that cannot be recorded in a special journal
should be recorded in the general journal.
2) Post entries recorded in the journals to the appropriate ledger accounts according to the company's accounting policies
and procedures.
Note that the relevant totals of the special journals will be posted to the general ledger accounts at the end of the
month. You will enter this after you prepare the Bank Reconciliation Statement.
https://www.perdisco.com/elms/qsam/html/qsam.aspx 1/15
3) Update inventory cards on a daily basis.
Back-On-Track functionality
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. Your particular answers from previous
pages are no longer shown.
Remember:
Enter all answers to the nearest whole dollar.

There may be entries in the general journal that require posting to both a control account and a subsidiary ledger. In
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 Ref. column to indicate that you have posted to both accounts.
For example, if the reference number for the control account is 110 and the reference number for the subsidiary
ledger account is 110-1, you should type '110/110-1' into the Post Ref. column.
When completing the inventory cards, you may enter a positive or negative number into the Units and Total Cost
columns but all unit costs must be entered as positive numbers into the Unit Cost columns.
You are also required to apply the journals and ledgers instructions and the inventory cards instructions provided in
previous weeks.
Before pressing the Submit answers button, we recommend that you click the Show All tab and check that all relevant
accounting records have been completed.
Show All Special Journals General Journal Subsidiary Ledgers General Ledger Inventory
(Q=601.salesJournalWeek4)
SALES JOURNAL
Invoice Post Accounts Cost of

Date Account
No. Ref. Receivable Sales
Jun 10 ARC - The Locker Room 423 110-3 6,912 3,888
Jun 18 ARC - Mick's Sporting Goods 424 110-5 5,112 2,592
Jun 23 ARC - Mick's Sporting Goods 425 110-5 38304 22392
Jun 25 ARC - Balls 'n All 426 110-6 13632 7104
Jun
Jun
Feedback
SALES JOURNAL
Invoice Post Accounts Cost of

Date Account
No. Ref. Receivable Sales
Jun 10 ARC - The Locker Room 423 110-3 6,912 3,888
Jun 25 ARC - Balls 'n All 426 110-6 13,632 7,104
(Q=602.purchasesJournalWeek4)
PURCHASES JOURNAL
Post Accounts
Date Account Terms
Ref. Payable
Jun 9 APC - Sports 'R Us net 30 210-6 3,456
Jun 17 APC - Sport Borders 2/10, n/30 210-1 7,200
Jun 18 APC - Addax Sports net 30 210-5 5,760
Jun
Jun
Jun
Jun
Feedback
There are no relevant entries in the purchases journal for this week.
(Q=603.cashReceiptsJournalWeek4)
CASH RECEIPTS JOURNAL

Note: In order to receive full points, for each transaction you must select an account under the column labelled 'Account', as
indicated under the additional instructions above. Since all transactions in this journal affect the Cash at Bank account, you
are asked to enter the name of the appropriate account credited in these transactions into the Account column so that the
type of transaction can be determined by the name of the account entered into this column.
Debit Credit
Post Cost of
Date Account Ref. Cash at Discount Sales Accounts Other Sales
Bank Allowed Revenue Receivable Accounts
Jun 3 ARC - Mick's Sporting Goods 110-5 2,674 2,674

Jun 12 ARC - Jump Around 110-1 2,088 232 2,320
Jun 13 Sales Revenue X 7,480 7,480 3,696
Jun 18 ARC - Balls 'n All 110-6 2,000 2,000
Jun 25 ARC - The Locker Room 110-3 20272 0 0 20272 0 0
Jun 27 Sales Revenue X 21504 0 21504 0 0 12096
Jun
Jun
Jun
Jun
Feedback
CASH RECEIPTS JOURNAL
Debit Credit
Post Cost of
Date Account
Ref. Cash at Discount Sales Accounts Other Sales
Bank Allowed Revenue Receivable Accounts
Jun 3 ARC - Mick's Sporting Goods 110-5 2,674 2,674

Jun 12 ARC - Jump Around 110-1 2,088 232 2,320
Jun 18 ARC - Balls 'n All 110-6 2,000 2,000
Jun 25 ARC - The Locker Room 110-3 20,272 20,272
(Q=604.cashPaymentsJournalWeek4)
CASH PAYMENTS JOURNAL

Note: In order to receive full points, for each transaction you must select an account under the column labelled 'Account', as
indicated under the additional instructions above. Since all transactions in this journal affect the Cash at Bank account, you
are asked to enter the name of the appropriate account debited in these transactions into the Account column so that the
type of transaction can be determined by the name of the account entered into this column.
Debit Credit
Cheque Post
Date Account No. Ref. Accounts Wages Other Cash at Discount
Inventory
Payable Expense Accounts Bank Received
Jun 1 Prepaid Rent 765 140 10,000 10,000

Jun 3 APC - Sports 'R Us 766 210-6 4,444 4,444
Jun 3 Office Supplies 767 130 421 421
Jun 4 Wages Payable 768 220 584 1,143 1,727
Jun 6 Electricity Payable 769 221 808 808
Jun 10 APC - Hike 770 210-2 4,100 4,059 41
Jun 11 Wages Expense 771 X 1,603 1,603
Jun 12 APC - Addax Sports 772 210-5 3,886 3,886
Jun 12 APC - Sport Borders 773 210-1 2,096 2,096
Jun 22 APC - Sport Borders 775 210-1 7200 0 0 0 7056 144
Jun 25 Wages Expense 776 X 0 0 1688 0 1688 0
Jun
Jun
Jun
Jun
Feedback
CASH PAYMENTS JOURNAL
Debit Credit
Cheque Post
Date Account No. Ref. Accounts Wages Other Cash at Discount
Inventory
Payable Expense Accounts Bank Received
Jun 1 Prepaid Rent 765 140 10,000 10,000

Jun 3 APC - Sports 'R Us 766 210-6 4,444 4,444
Jun 3 Office Supplies 767 130 421 421
Jun 4 Wages Payable 768 220 584 1,143 1,727
Jun 6 Electricity Payable 769 221 808 808
Jun 10 APC - Hike 770 210-2 4,100 4,059 41
Jun 12 APC - Addax Sports 772 210-5 3,886 3,886
Jun 12 APC - Sport Borders 773 210-1 2,096 2,096

Jun 22 APC - Sport Borders 775 210-1 7,200 7,056 144
(Q=605.generalJournalWeek4)
GENERAL JOURNAL
Post
Date Account and Explanation Debit Credit
Ref.
Jun 20 Sales Returns and Allowances 401 1,152
Jun 20 ARC - The Locker Room 110/110-3 1,152
(sales return)
Jun 20 Inventory 120 648

Jun 20 Cost of Sales 500 648
(sales return)
Jun 28 APC - Addax Sports 210/210-5 3072 0
28 Inventory 120 0 3072
Jun
Jun
Feedback
GENERAL JOURNAL
Post
Date Account and Explanation Debit Credit
Ref.
Jun 20 Sales Returns and Allowances 401 1,152
Jun 20 ARC - The Locker Room 110/110-3 1,152
(sales return)
Jun 20 Inventory 120 648

Jun 20 Cost of Sales 500 648
(sales return)
Jun 28 APC - Addax Sports 210/210-5 3,072

Jun 28 Inventory 120 3,072
(purchase return)
(Q=610-110-3.AcctsRec3_week4)
SUBSIDIARY LEDGERS
Account: ARC - The Locker Room
Account No. 110-3
Date Description Ref. Debit Credit Balance

May 31 Balance 14,512 DR
Jun 10 Credit sale SJ 6,912 21,424 DR
Jun 20 Sales return GJ 1,152 20,272 DR
Jun 25 Repayment CRJ 0 20272 0
Jun
Jun
Feedback
Account: ARC - The Locker Room

Account No. 110-3

Jun 20 Sales return GJ 1,152 20,272 DR
Jun 25 Repayment CRJ 20,272 0
Account: ARC - Mick's Sporting Goods
Account No. 110-5

Jun 23 Credit sale SJ 38304 0 43416 DR
Jun
Jun
Feedback
Account: ARC - Mick's Sporting Goods

Account No. 110-5

Account: ARC - Balls 'n All
Account No. 110-6

Jun 18 Repayment CRJ 2,000 2,201 DR
Jun 25 Credit sale SJ 13632 0 15833 DR
Jun
Jun
Feedback
Account: ARC - Balls 'n All

Account No. 110-6

Jun 18 Repayment CRJ 2,000 2,201 DR
(Q=610-210-1.AcctsPay1_week4)
Account: APC - Sport Borders
Account No. 210-1

May 31 Balance 2,096 CR
Jun 12 Repayment CPJ 2,096 0
Jun 17 Credit purchase PJ 7,200 7,200 CR
Jun 22 Repayment CPJ 7200 0 0
Jun
Jun
Feedback
Account: APC - Sport Borders

Account No. 210-1

Account: APC - J. J. Spud

Account No. 210-4

Jun
Jun
Jun
Feedback
There are no relevant entries in the J. J. Spud ledger for this week.
Account: APC - Addax Sports
Account No. 210-5

Jun 28 Purchase return GJ 3072 0 2688 CR
Jun
Jun
Feedback
Account: APC - Addax Sports

Account No. 210-5

Jun 28 Purchase return GJ 3,072 2,688 CR
(Q=620-100.CashAtBank_week4)
GENERAL LEDGER
Account: Cash at Bank
Account No. 100

Jun
Jun
Jun
Feedback
There are no relevant entries in the Cash at Bank ledger for this week.
(Q=620-110.AcctsRecControl_week4)
Account: ARC - Accounts Receivable Control
Account No. 110

Jun 20 Sales return from The Locker Room GJ 1,152 30,556 DR
Jun
Jun
Jun
Feedback
There are no relevant entries in the Accounts Receivable Control ledger for this week.
(Q=620-120.Inventory_week4)
Account: Inventory
Account No. 120

Jun 20 Sales return from The Locker Room GJ 648 88,016 DR
Jun 28 Purchase return to Ad GJ 0 3072 84944 DR
Jun
Jun
Feedback
Account: Inventory
Account No. 120

Jun 20 Sales return from The Locker Room GJ 648 88,016 DR
Jun 28 Purchase return to Addax Sports GJ 3,072 84,944 DR
(Q=620-210.AcctsPayControl_week4)
Account: APC - Accounts Payable Control
Account No. 210

Jun 28 Purchase return to Ad GJ 3072 0 42832
Jun
Jun
Feedback
Account: APC - Accounts Payable Control

Account No. 210

Jun 28 Purchase return to Addax Sports GJ 3,072 42,832 CR
(Q=620-400.SalesRevenue_week4)
Account: Sales Revenue
Account No. 400

May 31 Balance 0
Jun
Jun
Jun
Feedback
There are no relevant entries in the Sales Revenue ledger for this week.
(Q=620-402.DiscountRecd_week4)
Account: Discount Received
Account No. 402

May 31 Balance 0
Jun
Jun
Jun
Feedback
There are no relevant entries in the Discount Received ledger for this week.
(Q=620-500.CostOfSales_week4)
Account: Cost of Sales
Account No. 500

May 31 Balance 0
Jun 20 Sales return from The Locker Room GJ 648 648 CR
Jun
Jun
Jun
Feedback
There are no relevant entries in the Cost of Sales ledger for this week.
(Q=620-516.WagesExpense_week4)
Account: Wages Expense
Account No. 516

May 31 Balance 0
Jun
Jun
Jun
Feedback
There are no relevant entries in the Wages Expense ledger for this week.
(Q=620-573.DiscountAllowed_week4)
Account: Discount Allowed
Account No. 573

May 31 Balance 0
Jun
Jun
Jun
Feedback
There are no relevant entries in the Discount Allowed ledger for this week.
(Q=630.Inventory1_week4)
INVENTORY CARDS
Pipe Dream Surfboards
Purchases Cost of Sales Balance

Date Units Unit Cost Total Cost Units Unit Cost Total Cost Units Unit Cost Total Cost
($) ($) ($) ($) ($) ($)
May 31 20 336 6720
22 384 8448
Jun 13 11 336 3696 9 336 3024

22 384 8448
Jun 18 15 384 5760 9 336 3024
37 384 14208
Jun 28 -8 384 -3072 0 0 0 9 336 3024
0 0 0 29 384 11136
Jun
Jun
Jun
Feedback
Pipe Dream Surfboards

($) ($) ($) ($) ($) ($)
May 31 20 336 6720
22 384 8448
Jun 13 11 336 3696 9 336 3024

22 384 8448
Jun 18 15 384 5760 9 336 3024

37 384 14208
Jun 28 -8 384 -3072 9 336 3024

29 384 11136
Tony Eagle Freestyle Skateboards

($) ($) ($) ($) ($) ($)
May 31 75 216 16200
Jun 10 18 216 3888 57 216 12312
Jun 20 -3 216 -648 60 216 12960
Jun 27 0 0 0 56 216 12096 4 216 864
0 0 0 0 0 0
Jun
Jun
Jun
Feedback
Tony Eagle Freestyle Skateboards

($) ($) ($) ($) ($) ($)
May 31 75 216 16200
Jun 10 18 216 3888 57 216 12312
Jun 20 -3 216 -648 60 216 12960
Jun 27 56 216 12096 4 216 864
Downhill Snowboards

($) ($) ($) ($) ($) ($)
May 31 27 288 7776
25 320 8000
Jun 18 9 288 2592 18 288 5184

25 320 8000
Jun 25 0 0 0 18 288 5184 19 320 6080
6 320 1920 0 0 0
Jun
Jun
Jun
Feedback
Downhill Snowboards

($) ($) ($) ($) ($) ($)
May 31 27 288 7776
25 320 8000
Jun 18 9 288 2592 18 288 5184

25 320 8000
Jun 25 18 288 5184 19 320 6080

6 320 1920
Bungee Kits

($) ($) ($) ($) ($) ($)
May 31 57 288 16416
Jun 9 12 288 3456 69 288 19872
Jun 17 20 360 7200 69 288 19872

20 360 7200
Jun 23 0 0 0 69 288 19872 13 360 4680
7 360 2520 0 0 0
Jun
Jun
Jun
Feedback
Bungee Kits

($) ($) ($) ($) ($) ($)
May 31 57 288 16416
Jun 9 12 288 3456 69 288 19872
Jun 17 20 360 7200 69 288 19872

20 360 7200
Jun 23 69 288 19872 13 360 4680

7 360 2520
Manual Accounting Practice Set

The Adrenaline Hut, Australasian Edition 3 (VSA3q)
© 2009 - 2014 Perdisco / latin /. v., learn thoroughly
http://www.perdisco.com
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Perdisco - Transactions - Week 4

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Perdisco - Transactions - Week 4

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6/11/2020 Transactions - week 4

Manual Accounting Practice Set

Feedback: Transactions - week 4

Your progress Your grading

Your grading outcome (still in progress)

Completed: 36% (approximately)

Remaining pages will take: up to 12.25 hours

Instructions for week 4

1) Record all week 4 transactions in the relevant journals.

Enter all answers to the nearest whole dollar.

Invoice Post Accounts Cost of

Jun 23 ARC - Mick's Sporting Goods 425 110-5 38304 22392

Jun 25 ARC - Balls 'n All 426 110-6 13632 7104

Invoice Post Accounts Cost of

CASH RECEIPTS JOURNAL

Jun 3 ARC - Mick's Sporting Goods 110-5 2,674 2,674

Jun 25 ARC - The Locker Room 110-3 20272 0 0 20272 0 0

Jun 27 Sales Revenue X 21504 0 21504 0 0 12096

CASH RECEIPTS JOURNAL

Jun 3 ARC - Mick's Sporting Goods 110-5 2,674 2,674

CASH PAYMENTS JOURNAL

Jun 1 Prepaid Rent 765 140 10,000 10,000

Jun 22 APC - Sport Borders 775 210-1 7200 0 0 0 7056 144

Jun 25 Wages Expense 776 X 0 0 1688 0 1688 0

CASH PAYMENTS JOURNAL

Jun 1 Prepaid Rent 765 140 10,000 10,000

Jun 12 APC - Sport Borders 773 210-1 2,096 2,096

Jun 20 Inventory 120 648

Jun 28 APC - Addax Sports 210/210-5 3072 0

28 Inventory 120 0 3072

Jun 20 Inventory 120 648

Jun 28 APC - Addax Sports 210/210-5 3,072

Date Description Ref. Debit Credit Balance

Jun 25 Repayment CRJ 0 20272 0

Account: ARC - The Locker Room

Date Description Ref. Debit Credit Balance

Date Description Ref. Debit Credit Balance

Jun 23 Credit sale SJ 38304 0 43416 DR

Account: ARC - Mick's Sporting Goods

Date Description Ref. Debit Credit Balance

Jun 23 Credit sale SJ 38,304 43,416 DR

Date Description Ref. Debit Credit Balance

Jun 25 Credit sale SJ 13632 0 15833 DR

Account: ARC - Balls 'n All

Date Description Ref. Debit Credit Balance

Date Description Ref. Debit Credit Balance

Jun 22 Repayment CPJ 7200 0 0

Account: APC - Sport Borders

Date Description Ref. Debit Credit Balance

Account: APC - J. J. Spud

Date Description Ref. Debit Credit Balance

Date Description Ref. Debit Credit Balance

Jun 28 Purchase return GJ 3072 0 2688 CR

Account: APC - Addax Sports

Date Description Ref. Debit Credit Balance

Date Description Ref. Debit Credit Balance

Date Description Ref. Debit Credit Balance

Date Description Ref. Debit Credit Balance

Jun 28 Purchase return to Ad GJ 0 3072 84944 DR

Date Description Ref. Debit Credit Balance

Date Description Ref. Debit Credit Balance

Jun 28 Purchase return to Ad GJ 3072 0 42832

Account: APC - Accounts Payable Control