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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.
Please note that any answers from previous pages carried through
onto this page (either on the page or in a popup information page)
are the correct answers, not your particular answers.
Additional instructions
1 of 11 17/05/2008 7:16 PM
Transactions - week 3 http://www.perdisco.com/elms/qsam/html/qsam.aspx
In particular, in special journals, some accounting textbooks do not always require a reference to be recorded in the Post Ref.
column. In this practice set, in order to receive full marks, every transaction entered in a special journal requires an entry in the
Post Ref. column. Note that in the special journals, if the account name selected for a transaction corresponds to the heading of one
of the columns in that special journal, the post ref is to be recorded as an X. This is because these transactions are not posted on a
daily basis. In order to receive full marks, you must record only the letter X in the Post Ref. column for these transactions.
Note that in special journals, the Other Accounts column should not be used to record movements of inventory.
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 the subsidiary ledger account in the Post Ref. column to
indicate that you have posted to both accounts.
General journal entries do NOT require a description of the journal entries.
Ledgers:
When posting a transaction to a ledger account, under the Description column, please type the description of the transaction directly
into the field. The exact wording does not matter for marking purposes. For example, it does not matter in an electricity
transaction if you type Paid for electricity or Paid electricity bill.
For each ledger, under the Ref. column, you need to select the correct journal from a list in the drop-down box provided, in order to
receive full marks.
If the balance of a ledger account is zero you do not need to select a debit or credit from the drop-down box.
Each transaction posted to the subsidiary ledgers must be entered in one line. In order to receive full marks, you must not split up
the relevant transaction into more than one line in the subsidiary ledger.
Most journals and ledgers will have blank rows left at the end of this question.
Some journals and ledgers may not require any entries for this week.
When purchases and sales are recorded in special journals, changes in inventory must not be posted to the Inventory ledger on a
daily basis.
Inventory cards:
Each transaction recorded in the inventory cards must be entered in a pair of lines provided. In order to receive full marks, you
must not split up a transaction into more than the two lines given in the inventory card or combine two transactions into the one
pair of lines.
However, each transaction may need to be recorded in more than one line on the inventory card when the movement in inventory
includes items that have two different unit costs. You should use a separate line within the pair of lines for each different unit cost.
In particular, you should not combine the total cost of the inventory into one amount. See the inventory cards for May in the Further
information popup for an example of how inventory cards are to be completed.
Show All Special Journals General Journal Subsidary Ledgers General Ledger Inventory
(Q=501.salesJournalWeek3)
SALES JOURNAL
(select)
Jun
(select)
Jun
Feedback
Solution
SALES JOURNAL
Accounts Cost of
Date Account Invoice Post Receivable Sales
2 of 11 17/05/2008 7:16 PM
Transactions - week 3 http://www.perdisco.com/elms/qsam/html/qsam.aspx
No. Ref.
(Q=502.purchasesJournalWeek3)
PURCHASES JOURNAL
Post Accounts
Date Account Terms
Ref. Payable
(select)
Jun
(select)
Jun
(select)
Jun
(select)
Jun
Feedback
Solution
There are no relevant entries in the purchases journal for this week.
(Q=503.cashReceiptsJournalWeek3)
Note: In order to receive full marks, for each transaction, you must select an account under the column labelled 'Account', as indicated under
the additional instructions above.
DR CR
Cost of
Date Account Post Ref. Cash at Discount Sales Accounts Other Sales
Bank Allowed Revenue Receivable Accounts
(select)
Jun
(select)
Jun
Feedback
Solution
3 of 11 17/05/2008 7:16 PM
Transactions - week 3 http://www.perdisco.com/elms/qsam/html/qsam.aspx
DR CR
Post Cost of
Date Account Cash at Discount Sales Accounts Other
Ref. Sales
Bank Allowed Revenue Receivable Accounts
(Q=504.cashPaymentsJournalWeek3)
Note: In order to receive full marks, for each transaction, you must select an account under the column labelled 'Account', as indicated under
the additional instructions above.
DR CR
(select)
Jun
(select)
Jun
(select)
Jun
(select)
Jun
Feedback
Solution
DR CR
(Q=505.generalJournalWeek3)
4 of 11 17/05/2008 7:16 PM
Transactions - week 3 http://www.perdisco.com/elms/qsam/html/qsam.aspx
GENERAL JOURNAL
(select)
Jun
(select)
(select)
Jun
(select)
Feedback
Solution
GENERAL JOURNAL
(Q=510-110-3.AcctsRec3_week3)
5 of 11 17/05/2008 7:16 PM
Transactions - week 3 http://www.perdisco.com/elms/qsam/html/qsam.aspx
Jun
Feedback
Solution
(Q=510-110-5.AcctsRec5_week3)
May 31 Balance 0
Jun
Feedback
Solution
May 31 Balance 0
Jun 16 Credit sale SJ 15,180 15,180 DR
(Q=510-110-6.AcctsRec6_week3)
May 31 Balance 0
Jun 9 Credit sale SJ 25,920 25,920 DR
Jun
6 of 11 17/05/2008 7:16 PM
Transactions - week 3 http://www.perdisco.com/elms/qsam/html/qsam.aspx
Feedback
Solution
May 31 Balance 0
Jun 9 Credit sale SJ 25,920 25,920 DR
Jun 16 Repayment CRJ 20,200 5,720 DR
(Q=510-210-3.AcctsPay3_week3)
Jun
Feedback
Solution
(Q=520-100.CashAtBank_week3)
Jun
Jun
Jun
Feedback
Solution
There are no relevant entries in the Cash at bank ledger for this week.
(Q=520-110.AcctsRecControl_week3)
7 of 11 17/05/2008 7:16 PM
Transactions - week 3 http://www.perdisco.com/elms/qsam/html/qsam.aspx
Jun
Jun
Jun
Feedback
Solution
There are no relevant entries in the Accounts Receivable Control ledger for this week.
(Q=520-120.Inventory_week3)
Account: Inventory
Account No. 120
Jun
Feedback
Solution
Account: Inventory
Account No. 120
(Q=520-210.AcctsPayControl_week3)
Jun
Jun
Jun
Feedback
8 of 11 17/05/2008 7:16 PM
Transactions - week 3 http://www.perdisco.com/elms/qsam/html/qsam.aspx
Solution
(Q=530.Inventory2_week3)
rugby balls
Jun
Jun
Jun
Feedback
Solution
rugby balls
9 of 11 17/05/2008 7:16 PM
Transactions - week 3 http://www.perdisco.com/elms/qsam/html/qsam.aspx
(Q=530.Inventory4_week3)
Sting ray golf clubs
Jun
Jun
Jun
Jun
Feedback
Solution
There are no relevant entries in the Sting ray golf clubs card for this week.
(Q=530.Inventory5_week3)
pairs of sports shoes
10 of 11 17/05/2008 7:16 PM
Transactions - week 3 http://www.perdisco.com/elms/qsam/html/qsam.aspx
Jun
Feedback
Solution
11 of 11 17/05/2008 7:16 PM