Perdisco Week 2

Manual Accounting Practice Set Manual Accounting Practice Set Ball-Mart, Australasian Edition 3 Ball-Mart, Australasian Edition 3

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Transactions - eek !

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Yo

Your grading ouur grading outcome (stcome (still in progretill in progress)ss)

A

warded Total

Points (prior to this page) 96 23

Points (on this page) 2!" 219

Points (after after t page)his # 24

Total 3!1 1$21

$n%ormation %rom pre&ious pages

$n%ormation %rom pre&ious pages

 !eneral instructions

 All transactions

 Ad"usting entries information

 Trial balance # $ay

 Schedules of accounts # $ay

 nventory cards # $ay

 Bank reconciliation # $ay

 Bank statement # %une

 Special printing information  %ournals and ledgers instructions

 nventory cards instructions

&ou are now instructed to record transactions that occurred throughout the second eeksecond eek of %une into the company's books. The week ( transactions are listed below)

Week 2 Dat

Datee TrTranansasactiction deson descricriptptionion 8

8 old 33 pairs o& 'ootall oots to *reat ports &or +429 ea,h$ -n.oi,e /o0 4410 11

11 Paid the &ull amount owing to xtreme ports -n,$ heue /o0 90 11

11 Paid sales sta&& wages o& +1$"2 &or the wee5 up to and in,luding yesterday$ heue /o0 90

12

12 i,57s porting *oods returned 3 martue noo5er ets that were srcinally sold &or +649 ea,h on " 8une0 These items ,ost +32! ea,h (ex,luding 1!% *T) and were not &aulty or damaged0 -ssued a redit /ote &or +1$940

12

12 ade payment o& +1$3" to nro&& &or 3 months o& ele,tri,ity up to and in,luding 31 ay$ heue /o0 990

14

14 alls 7n All paid the &ull amount owing on their a,,ount0 in,e alls 7n All has een a loyal ,ustomer &rom the day the usiness ,ommen,ed$ a 1!% dis,ount was gi.en &or this early repayment0

14

14 ade ,ash sale o& 19 oxes o& uiddit,h ludgers &or +9!2 ea,h0 $nstructions %or eek !

$nstructions %or eek ! '(

'(*ecord all week ( transactions in the relevant "ournals.

+ote that special "ournals must be used where applicable. Any transaction that cannot be recorded in a special "ournal should be recorded in the general "ournal.

!(

!(Post entries recorded in the "ournals to the appropriate ledger accounts according to the company's accountingpolicies and procedures.

+ote that the relevant totals of the special "ournals will be posted to the general ledger accounts at the end of the month. &ou will enter this after you prepare the Bank *econciliation Statement.

3(

3(pdate inventory cards on a daily basis. Back-)n-Track %unctionality Back-)n-Track %unctionality

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. &our particular answers from previous pages are no longer shown.

*emember: *emember:

 /ach transaction recorded in a special "ournal must be entered in one line. n order to receive full points, you must notnot split up the relevant transaction into more than one line in the special "ournal.

 /nter all answers to the nearest +ole dollarnearest +ole dollar. 0hen calculating a discount, if a discount is not a whole number, round the discount to the nearest whole dollar. Then, to calculate the cash at bank amount, subtract the discount from the srcinal amount.

 n this practice set, in order to receive full points, every transaction entered in a special "ournal re1uires an entry in the Post *ef. column. +ote that in the special "ournals, if the account name selected for a transaction corresponds to the heading of one of the columns in that special "ournal, the post ref is to be recorded as an . This is because these transactions are not posted on a daily basis. n order to receive full points, you must record only the letter  in the Post *ef. column for these transactions.

 &ou are re1uired to enter the !ST component of a transaction as a positive number into the "ournals. To record an amount in a !ST account, you need to enter that amount into the appropriate

debit or credit column.

 0hen recording a transaction into the general "ournal, the amount recorded in one account may be the sum of the amounts recorded in two or more accounts. 2or example, a "ournal entry may consist of a debit of 3455 to Account A, a credit of 365 to Account B and a credit of 375 to Account 8. 2or these types of transactions, you must notnot split the t ransaction into more than one "ournal entry i.e. -4 9r Account A 365, 8r Account B 365 and -( 9r Account A 375, 8r Account 8 375. nstead, you must record the 3455 debit to Account A in a single line.

 There may be entries in the general "ournal that re1uire posting to both a control account and a subsidiary ledger. n 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 *ef. column to indicate that you have posted to both accounts. 2or example, if the reference number for the control account is 445 and the reference number for the subsidiary ledger account is 445#4, you should type '445:445#4'into the Post *ef. column.

 0hen completing the inventory cards, you may enter a positive or negative number into the nits and Total 8ost columns but all unit costs must be entered as positive numbers into the nit 8ost columns.

 &ou are also re1uired to apply the "ournals and ledgers instructions and theinventory cards

instructions provided in previous weeks.

Before pressing the Submit answers button, we recommend that you click the S+o AllS+o All tab and check that all relevant accounting records have been completed.

S+o All

S+o All Special %ournals!eneral %ournal Subsidiary ;edgers!eneral ;edgernventory

-<=654.sales%ournal0eek(

SAES .)/*0A

SAES .)/*0A

Date Account Invoice

No. Post Ref. Accounts Receivable GS T Sales Revenue Cost of Sales 8un " A: ; i,57s porting *oods 44! 11!;3 9$3" " $"! 4$!! 8un A: ; *reat ports(sele,t)

8un (sele,t) 8un (sele,t) 8un (sele,t) -- Feedback Feedback

SAES .)/*0A

SAES .)/*0A

8un " A: ; i,57s porting *oods 44! 11!;3 9$3" " $"! 4$!! 

uunn 88 !!RRC C " " ##rreeaat t $$ppoorrttss 444411 1111%%""&& 1144''11 11''2288 1122''88%% ''**%% -<=65(.purchases%ournal0eek(

P/*"1ASES .)/*0A

P/*"1ASES .)/*0A

Date A ccount Terms Post _Ref. Inventor _y GS _T

Account s Payable 8u

n 1 AP ; Addaxports net 3! 21!;3 4$44! 444 4$4

8u n " AP ; ports 7: <s 2=1!$ n=3! 21!; 1 2$4!! 24! 2$64! 8u n (sele,t) terms000net 3!net 2=1! n=3! 8u n (sele,t) terms000net 3!net 2=1! n=3! 8u n (sele,t) terms000net 3!net 2=1! n=3! 8u n (sele,t) terms000net 3!net 2=1! n=3! -- Feedback Feedback

There are no relevant entries in the purchases "ournal for this week.

-<=65>.cash*eceipts%ournal0eek(

"AS1 *E"E$PTS .)/*0A

"AS1 *E"E$PTS .)/*0A

0ote: n 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 "ournal affect the 8ash 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.

The two !ST columns in this "ournal refer to the same 2ST accountsame 2ST account -being the account that is used to record the !ST related to applicable cash receipts.

Date Account

Pos t Ref

.

Debit Creit _Cost

of Sale s Cas! at "ank GS T Discou nt Allo#e  Sales Revenu e GST AccountsReceivab le $t!er Account s 8u n  ales :e.enue > 13$64 ! 12$4! ! 1$24 ! "$" ! 8u n A: ; alls 7n All(sele,t) 8u ales

n :e.enue(sele,t) 8u n (sele,t) 8u n (sele,t) 8u n (sele,t) 8u n (sele,t) -- Feedback Feedback

"AS1 *E"E$PTS .)/*0A

"AS1 *E"E$PTS .)/*0A

Date Account Post _Ref.

Debit Creit Cost of Sale s Cas! at "ank GS T Discou nt Allo#e Sales Revenu e GST Accounts Receivabl e $t!er Account s

8un  ales :e.enue > 13$64_! 12$4!! 1$24_! "$"_!

u u n n 1 1 4 4 !RC " +alls ,n !RC " +alls ,n !ll !ll 11%" 11%" 1 1 44''&&-- 44 44% % ''11%% u u n n 1 1 4 4 $$aallees s RRee..eennuuee // 1'1-8 8 1'8%1'8% 1' 1' 8 8 '22 '22 % % -<=656.cashPayments%ournal0eek(

"AS1 PA#ME0TS .)/*0A

"AS1 PA#ME0TS .)/*0A

0ote: n 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 "ournal affect the 8ash 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.

The two !ST columns in this "ournal refer to the same 2ST accountsame 2ST account -being the account that is used to record the !ST related to applicable cash payments.

Date Account C!e% ue

No. Post Ref. Debit Creit Accou nts Payabl e GS T Invent ory Wa&e s '()e nse $t!er Accou nts Cas! at "ank G ST Disco unt Recei ve 8u n 1 -n.entory 93 > " ! "$!! 6$3 ! 8u n 2 AP ; 80 80 pud 94 21! ;4 $!! $"4 6 14 14!

8u n 4 AP ?i5e; 9" 21! ;2 11$!! ! 1!$ 9! 1! 1!! 8u n 4 @ages Payale 96 22! 1$! 4 1$!!! 2$! 4 8u n

AP ; xtreme ports -n,(sele,t)

8u

n @ater xpense(sele,t)

8un le,tri,ity Payale(sele,t) 8u n (sele,t) 8u n (sele,t) 8u n (sele,t) -- Feedback Feedback

"AS1 PA#ME0TS .)/*0A

"AS1 PA#ME0TS .)/*0A

Date Account C!e% ue

No. Post Ref. Debit Creit Accou nts Payabl e GS T Invent ory Wa&e s '()en se $t!er Accou nts Cas! at "ank GS T Discou nt Receiv e 8u n 1 -n.entory 93 > " ! "$!! 6$3 ! 8u n 2 AP ; 80 80 pud 94 21! ;4 $!! $"4 6 14 14! 8u n 4 AP ; ?i5e 9" 21! ;2 11$!! ! 1!$ 9! 1! 1!! 8u n 4 @ages Payale 96 22! 1$!4 1$!!! 2$! 4 u u n n 1 1 1 1 !0C " treme !0C " treme $ports 3nc $ports 3nc ** 21% 21% " " 88''&&%%%% 8'&% 8'&% % % u u n n 1 1 1 1 aaggees s ppeennssee **88 / / 11''2288 1'2 1'2 8 8 u u n n 1 1 2

2 lleeccttrriicciitt5 5 00aa55aa66llee **** 222211

12 12   1'2%1'2% 1'- 1'-   -<=65?.general%ournal0eek(

2E0E*A .)/*0A

2E0E*A .)/*0A

Date Account an '()lanation Post _Ref. ebit D Creit 8un ales :eturns and Allowan,es(sele,t)

*T olle,tions(sele,t)

A: ; i,57s porting *oods(sele,t)

(sele,t)

8un -n.entory(sele,t)

ost o& ales(sele,t) (sele,t) (sele,t) 8un (sele,t) (sele,t) (sele,t) (sele,t) -- Feedback Feedback

2E0E*A .)/*0A

2E0E*A .)/*0A

Date Account an '()lanation Post _Ref. ebit D Creit



uunn 1122 $$aallees s RReettuurrnns s aannd d !!lllloowwaanncceess 44%%11 11''%% 

uunn 1122 ##$$T CCoT olllleeccttiioonnss 2244%% 11 

uunn 112 2 !!RRC C " " 77iicckk,,s s $$ppoorrttiinng g ##ooooddss 1111%%1111%%""- - 11''**44 (sales return)



uunn 1122 33nn..eennttoorr55 1122%% **&&%% 

uunn 112 2 CCoosst oof $a$t f alleess %%% % **&&%% (sales return)

-<=645#445#4.Accts*ec4@week(

S/BS$$A*# E2E*S

S/BS$$A*# E2E*S

Account) ARC - Balls 'n All Account +o. 445#4

Date Descri)tion Ref. Debit Creit "alance

ay 31 alan,e "$1! : 8un *8P88:8P8 :: 8un *8P88:8P8 :: 8un *8P88:8P8 :: -- Feedback Feedback

Account) ARC - Balls 'n All Account +o. 445#4

Date Descri)tion Ref. Debit Creit "alance

ay 31 alan,e "$1! :



uunn 1144 RReeppaa55mmeenntt CCRR  ''11%% %% -<=645#445#>.Accts*ec>@week( Account) ARC - Mick's Sporting Goods

Account +o. 445#>

Date Descri)tion Ref. Debit Creit "alance

ay 31 alan,e 4$26 :

8un " redit sale 8 9$3" "$461 :

8un *8P88:8P8 ::

8un *8P88:8P8 ::

8un *8P88:8P8 ::

-- Feedback Feedback

Account) ARC - Mick's Sporting Goods Account +o. 445#>

Date Descri)tion Ref. Debit Creit "alance

ay3 1 alan,e 4$26 :

8un " redit sale 8 9$3" "$461 :



uun1n1 2$2$ aallees s rreettuurrnn ##  11''**44 &&''114 4 DDRR -<=645#445#7.Accts*ec7@week( Account) ARC - Great Sports

Account +o. 445#7

ay 31 alan,e !

8un *8P88:8P8 ::

8un *8P88:8P8 ::

8un *8P88:8P8 ::

-- Feedback Feedback

Account) ARC - Great Sports Account +o. 445#7

Date Descri)tion Ref. Debit Creit "alance

ay 31 alan,e !



uunn 8C8C rreeddiit ssat allee $$ 1144''11  1144''11  DDRR -<=645#(45#?.AcctsPay?@week( Account) APC - Extreme Sports Inc

Account +o. (45#?

Date Descri)tion Ref. Debit Creit "alance

ay 31 alan,e $6!! :

8un *8P88:8P8 ::

8un *8P88:8P8 ::

8un *8P88:8P8 ::

-- Feedback Feedback

Account) APC - Extreme Sports Inc Account +o. (45#?

Date Descri)tion Ref. Debit Creit "alance

ay 31 alan,e $6!! :



uunn 1111 RReeppaa55mmeenntt CC00 88''&&%%% % %% -<=6(5#455.8ashAtBank@week(

2E0E*A E2E*

2E0E*A E2E*

Date Descri)tion Ref. Debit Creit "alance

ay 31 alan,e 2$94 :

8un *8P88:8P8 ::

8un *8P88:8P8 ::

-- Feedback Feedback

There are no relevant entries in the 8ash at Bank ledger for this week.

-<=6(5#445.Accts*ec8ontrol@week( Account) ARC - Accounts Receia!le Control

Account +o. 445

Date Descri)tion Ref. Debit Creit "alance

ay 31 alan,e 69$249 :

8un *8P88:8P8 ::

8un *8P88:8P8 ::

8un *8P88:8P8 ::

-- Feedback Feedback

Account) ARC - Accounts Receia!le Control Account +o. 445

Date Descri)tion Ref. Debit Creit " alance

ay 31 alan,e 69$249 :



uunn 1122 $$aallees s rreettuurrn n ffrroom m 77iicckk,,s s $$ppoorrttiinng g ##ooooddss ##  11''**44 &&''--%%2 2 DDRR -<=6(5#4(5.nventory@week( Account)Inentor"

Account +o. 4(5

Date Descri)tion Ref. Debit Creit "alance

ay 31 alan,e 9$9! :

8un *8P88:8P8 ::

8un *8P88:8P8 ::

8un *8P88:8P8 ::

Account)Inentor" Account +o. 4(5

Date Descri)tion Ref. Debit Creit " alance

ay 31 alan,e 9$9! :



uunn 1122 $$aallees s rreettuurrn n ffrroom m 77iicckk,,s s $$ppoorrttiinng g ##ooooddss ## *&*&% % **%%''% % DDRR -<=6(5#4>?.TaxPaid@week( Account)GS# $utla"s

Account +o. 4>?

Date Descri)tion Ref. Debit Creit "alance

ay 31 alan,e 13$9!" :

8un *8P88:8P8 ::

8un *8P88:8P8 ::

8un *8P88:8P8 ::

-- Feedback Feedback

There are no relevant entries in the !ST utlays ledger for this week.

-<=6(5#((4./lectricityPayable@week( Account)Electricit" Pa"a!le

Account +o. ((4

Date Descri)tion Ref. Debit Creit "alance

ay 31 alan,e 1$319 :

8un *8P88:8P8 ::

8un *8P88:8P8 ::

8un *8P88:8P8 ::

-- Feedback Feedback

Account)Electricit" Pa"a!le Account +o. ((4

Date Descri)tion Ref. Debit Creit "alance

ay 31 alan,e 1$319 :



uunn 1122 00aaiid d eelleeccttrriicciitt5 5 6iillll6 CC00 11''22% % &&* * CCRR -<=6(5#(5.Tax8ollected@week( Account)GS# Collections

Account +o. (65

ay 31 alan,e 16$4"1 : 8un *8P88:8P8 :: 8un *8P88:8P8 :: 8un *8P88:8P8 :: -- Feedback Feedback Account)GS# Collections Account +o. (65

Date Descri)tion Ref. Debit Creit " alance

ay 31 alan,e 16$4"1 :



uunn 1122 $$aallees s rreettuurrn n ffrroom m 77iicckk,,s s $$ppoorrttiinng g ##ooooddss ## 11  11&&''224 4 CCRR -<=6(5#655.Sales*evenue@week( Account)Sales Reenue

Account +o. 655

Date Descri)tion Ref. Debit Creit "alance

ay 31 alan,e !

8un *8P88:8P8 ::

8un *8P88:8P8 ::

8un *8P88:8P8 ::

-- Feedback Feedback

There are no relevant entries in the Sales *evenue ledger for this week.

-<=6(5#654.Sales*eturns@week( Account)Sales Returns and Allo%ances

Account +o. 654

Date Descri)tion Ref. Debit Creit "alance

ay 31 alan,e !

8un *8P88:8P8 ::

8un *8P88:8P8 ::

-- Feedback Feedback

Account)Sales Returns and Allo%ances Account +o. 654

Date Descri)tion Ref. Debit Creit " alance

ay 31 alan,e !



uunn 1122 $$aallees s rreettuurrn n ffrroom m 77iicckk,,s s $$ppoorrttiinng g ##ooooddss ## 1''1% % 11''% % DDRR -<=6(5#65(.9iscount*ecd@week( Account)&iscount Receied

Account +o. 65(

Date Descri)tion Ref. Debit Creit "alance

ay 31 alan,e !

8un *8P88:8P8 ::

8un *8P88:8P8 ::

8un *8P88:8P8 ::

-- Feedback Feedback

There are no relevant entries in the 9iscount *eceived ledger for this week.

-<=6(5#?55.8ostfSales@week( Account)Cost o Sales

Account +o. ?55

Date Descri)tion Ref. Debit Creit "alance

ay 31 alan,e !

8un *8P88:8P8 ::

8un *8P88:8P8 ::

8un *8P88:8P8 ::

-- Feedback Feedback

Account)Cost o Sales Account +o. ?55

Date Descri)tion Ref. Debit Creit "alance

ay 3₁ alan,e !

un un 11

2

2 $$aallees s rreettuurrn n ffrroom m 77iicckk,,s s $$ppoorrttiinng g ##ooooddss ##  *&*&%% **&&% % CCRR -<=6(5#?47.0ages/xpense@week(

Account)(ages Expense Account +o. ?47

Date Descri)tion Ref. Debit Creit "alance

ay 31 alan,e ! 8un *8P88:8P8 :: 8un *8P88:8P8 :: 8un *8P88:8P8 :: -- Feedback Feedback

There are no relevant entries in the 0ages /xpense ledger for this week.

-<=6(5#?64./lectricity/xpense@week( Account)Electricit" Expense

Account +o. ?64

Date Descri)tion Ref. Debit Creit "alance

ay 31 alan,e ! 8un *8P88:8P8 :: 8un *8P88:8P8 :: 8un *8P88:8P8 :: -- Feedback Feedback

There are no relevant entries in the /lectricity /xpense ledger for this week.

-<=6(5#?>.9iscountAllowed@week( Account)&iscount Allo%ed

Account +o. ?>

Date Descri)tion Ref. Debit Creit "alance

ay 31 alan,e !

8un *8P88:8P8 ::

8un *8P88:8P8 ::

-- Feedback Feedback

There are no relevant entries in the 9iscount Allowed ledger for this week.

-<=6>5.nventory4@week(

$04E0T)*# "A*S

$04E0T)*# "A*S

Date

Purc!ases Cost of Sales "alance

*nit s *nit Cost +,-Total Cost +,-*nit s *nit Cost +,-Total Cost +,-*nit s *nit Cost +,-Total Cost +,-ay 31 33 3! 12"4! 24 44! 1!"6! 8un 8un 8un 8un -- Feedback Feedback

Boxes Of Quidditch Bludgers Boxes Of Quidditch Bludgers

Date

Purc!ases Cost of Sales "alance

*nit s *nit Cost +,-Total Cost +,-*nit s *nit Cost +,-Total Cost +,-*nit s *nit Cost +,-Total Cost +,-ay 31 33 3! 12"4! 24 44! 1!"6!  uunn 14 14 11** --88%% 2222%% 1144 -8-8%% --22%% 2 244 4444%% 11%%&&%%

-<=6>5.nventory>@week( SmartCue Snooker Sets

SmartCue Snooker Sets

Date

Purc!ases Cost of Sales "alance

*nit s *nit Cost +,-Total Cost +,-*nit s *nit Cost +,-Total Cost +,-*nit s *nit Cost +,-Total Cost +,-ay 31  32! 216! 8un 1 12 3! 444!  32! 216! 12 3! 444! 8un " 1" 32! 4!! 3 32! 2336! 12 3! 444! 8un 8un 8un 8un -- Feedback Feedback

SmartCue Snooker Sets SmartCue Snooker Sets

Date

Purc!ases Cost of Sales "alance

*nit s *nit Cost +,-Total Cost +,-*nit s *nit Cost +,-Total Cost +,-*nit s *nit Cost +,-Total Cost +,-ay 31  32! 216! 8un 1 12 3! 444!  32! 216!

1

2 3! 444!

8un " 1" 32! 4!! 3 32! 2336!

12 3! 444!



uunn 12 12 ""-- --22%% ""**&&%% && --22%% 2244--22%% 1

122 --%% 444444%%

-<=6>5.nventory6@week( Pairs Of Football Boots

Pairs Of Football Boots

Date

Purc!ases Cost of Sales "alance

*nit s *nit Cost +,-Total Cost +,-*nit s *nit Cost +,-Total Cost +,-*nit s *nit Cost +,-Total Cost +,-ay 31 21 1! 3"! 23 2!! 46!! 8un 8un 8un 8un -- Feedback Feedback

Pairs Of Football Boots Pairs Of Football Boots

Date

Purc!ases Cost of Sales "alance

*nit s *nit Cost +,-Total Cost +,-*nit s *nit Cost +,-Total Cost +,-*nit s *nit Cost +,-Total Cost +,-ay 31 21 1! 3"!

2 3 2!! 46!!  uunn 8 8 2211 11%% --%% 1111 22%%%% 2222%%%% 1 122 22%%%% 2244%%%% 8ontinue

Manual Accounting Practice Set Ball-Mart) Australasian Edition * +,#A*.

C (55D # (546 Perdisco / latin /0 0) learn thoroughl" http)::www.perdisco.com