Manual Accounting Practice Set

Ball-Mart, Australasian Edition 3

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Feedback: Transactions - week 3

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Awarded

Total

Points (prior to this page)

301

457

Points (on this page)

123

131

Points (after this page)

693

Total

424

1,281

Information from previous pages

General instructions
Policies and procedures


All transactions

Adjusting entries information

Trial balance - May

Schedules of accounts - May

Inventory cards - May

Bank reconciliation - May

Bank statement - June

Special printing information

Journals and ledgers instructions

Inventory cards instructions

Using the company's records that are provided below, you are now required to record transactions that
occurred throughout the third week of June. The week 3 transactions are listed below:

Week 3
Date Transaction description
15

Paid $2,640 for one month's rent of the show room (from 16 June to 15 July inclusive),
Cheque No. 800.

16

Sold 67 sets of Minor-league Base Balls to Croquet and Cricket for $374 each, Invoice No.
442.

16

Mick's Sporting Goods paid the full amount owing on their account.

18

Paid sales staff wages of $2,381 for the week up to and including yesterday, Cheque No.
801.

19

Great Sports paid $3,200 in partial payment of their account.

20

Received a purchase order from Great Sports. Created a corresponding sales order to
deliver 7 pairs of Football Boots to this customer for $429 each, Invoice No. 443.

21

Made cash sale of 64 MJO Basketball Sets for a list price of $440 each. A trade discount of
25% applies.

21

Returned 5 faulty MJO Basketball Sets, originally purchased for $220 each, to Addax
Sports. Received a Credit Note for $1,100.

Instructions for week 3

1)Record all week 3 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.
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. When 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 original amount.

In this practice set, in order to receive full points, 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 points, you must record only the letter X in the Post Ref. column for
these transactions.

You are required to enter the GST component of a transaction as a positive number into the
journals. To record an amount in a GST account, you need to enter that amount into the appropriate
debit or credit column.

When recording a transaction into the general journal, the amount recorded in one account may
be the sum of the amounts recorded in two or more accounts. For example, a journal entry may
consist of a debit of $100 to Account A, a credit of $40 to Account B and a credit of $60 to Account C.
For these types of transactions, you must not split the transaction into more than one journal entry
i.e. (1) Dr Account A $40, Cr Account B $40 and (2) Dr Account A $60, Cr Account C $60. Instead,
you must record the $100 debit to Account A in a single line.

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 JournalsGeneral JournalSubsidiary LedgersGeneral LedgerInventory

(Q=501.salesJournalWeek3)

SALES JOURNAL

Date

Account

Invoic
e
No.

Post
Ref.

Accounts
Receivabl
e

GST

Sales
Revenu
e

Cost
of
Sale
s

Ju
5 ARC - Mick's Sporting Goods
n

440 110-3

9,735

885

8,850 4,800

Ju
8 ARC - Great Sports
n

441 110-6

14,157

1,28
7

12,870 5,970

Ju
n

ARC - Croquet and

Cricket (select)

Ju
n

(select)

Ju
n

(select)

Ju
n

(select)

Feedback

SALES JOURNAL
Date

Invoic
e
No.

Account

Post
Ref.

Jun

5 ARC - Mick's Sporting Goods

440 110-3

Jun

8 ARC - Great Sports

Jun 16 ARC - Croquet and Cricket

Accounts
Receivabl
e

GST

9,735

Sales
Revenu
e

Cost of
Sales

885

8,850

4,800

441 110-6

14,157 1,287

12,870

5,970

442 110-5

25,058 2,278

22,780

12,420

(Q=502.purchasesJournalWeek3)

PURCHASES JOURNAL
Date

Account

Ju
APC - Addax
1
n
Sports
Ju
5 APC - Sports 'R Us
n

Ju
n

(select)

Ju
n

(select)

Ju
n

(select)

Ju
n

(select)

GS
T

Account
s
Payable

Post
Ref.

Inventor
y

net 30

2103

4,440

444

4,884

2/10, n/30

2101

2,400

240

2,640

Terms

terms...net 30net 72/10 n/30

terms...net 30net 72/10 n/30
terms...net 30net 72/10 n/30
terms...net 30net 72/10 n/30

Feedback

There are no relevant entries in the purchases journal for this week.
(Q=503.cashReceiptsJournalWeek3)

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.
The two GST columns in this journal refer to the same GST account (being the account that is used to
record the GST related to applicable cash receipts).

Date

Account

Post
Ref.

Debit

Credit

Cos
t of
Sal
es

Cash
at
Bank

Ju
n

7 Sales Revenue

Ju
n

1
ARC - Balls 'n All
4

Ju
n

1
Sales Revenue
4

Ju
n

ARC - Mick's Sporting

Goods (select)

Ju
n

ARC - Great Sports (select)

Ju
n

Sales Revenue (select)

Ju
n

(select)

Ju
n

(select)

Ju
n

(select)

X
1101
X

GS
T

Disco
unt
Allow
ed

13,6
40
4,65
47
3

Sales
Reven
ue

GST

12,40
0

1,2
40

470

17,1
38

Accoun
ts
Receiva
ble

Other
Accou
nts

5,58
0
5,170

15,58
0

1,5
58

7,22
0

Feedback

CASH RECEIPTS JOURNAL

Debit
Date

Account

7 Sales Revenue

Ju
n

1
ARC - Balls 'n All
4

Ju
n

1
Sales Revenue
4

Ju
n
Ju
n

Credit

Post
Ref.
Cash
at
Bank

Ju
n

Cost
of
Sale
s

X
1101

GS
T

Discou
nt
Allowe
d

13,6
40
4,65
47
3

Sales
Reven
ue

GST

Account
s
Receiva
ble

12,40 1,24
0
0
470

Other
Accou
nts

5,58
0
5,170

17,1
38

15,58 1,55
0
8

7,22
0

1 ARC - Mick's Sporting

6 Goods

1103

56,5
14

56,514

1
ARC - Great Sports
9

1106

3,20
0

3,200

Ju
n

2
Sales Revenue
1

21,1
20

19,20 1,92
0
0

12,8
00

(Q=504.cashPaymentsJournalWeek3)

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.
The two GST columns in this journal refer to the same GST account (being the account that is used to
record the GST related to applicable cash payments).

Debit
Date

Account

Cheq
ue
No.

Post
Ref.

Accou
nts
Payabl
e

GS
T

Invent
ory

58
0

5,800

Credit
Wage
s
Expen
se

Other
Accou
nts

Cash
at
Bank

GS
T

Discou
nt
Receiv
ed

Ju
n

1 Inventory

793

Ju
n

2 APC - J. J. Spud

794

2104

7,700

7,54
14
6

140

Ju
n

4 APC - Hike

795

2102

11,00
0

10,8
10
90

100

Ju
n

4 Wages Payable

796

220

Ju
n

1 APC - Extreme
1 Sports Inc

797

2105

Ju
n

1
Wages Expense
1

798

Ju
n

1
Electricity Payable
2

799

221

Ju
n

Prepaid Rent (select)

Ju
n

Wages
Expense (select)

Ju
n

(select)

Ju
n

(select)

Ju
n

(select)

Ju
n

(select)

6,38
0

1,084

1,000

2,08
4
8,60
0

8,600

1,52
8

1,528
12
5

1,250

1,37
5

Feedback

CASH PAYMENTS JOURNAL

Debit
Date

Account

Cheq
ue
No.

Post
Ref.

Accou
nts
Payabl
e

Credit
Wage
s
Expen
se

GS
T

Invent
ory

58
0

5,800

Other
Accou
nts

Cash
at
Bank

GS
T

Discou
nt
Receiv
ed

Ju
n

1 Inventory

793

6,38
0

Ju
n

2 APC - J. J. Spud

794

2104

7,700

7,54
14
6

140

Ju
n

4 APC - Hike

795

2102

11,00
0

10,8
10
90

100

Ju
n

4 Wages Payable

796

220

Ju
n

1 APC - Extreme
1 Sports Inc

797

2105

Ju
n

1
Wages Expense
1

798

Ju
n

1
Electricity Payable
2

799

221

12
5

1,250

1,37
5

Ju
n

1
Prepaid Rent
5

800

140

24
0

2,400

2,64
0

Ju
n

1
Wages Expense
8

801

1,084

1,000

2,08
4
8,60
0

8,600

1,52
8

1,528

2,38
1

2,381

(Q=505.generalJournalWeek3)

GENERAL JOURNAL
Date

Account and Explanation

Post
Ref.

DR

CR

Jun

12 Sales Returns and Allowances

401

1,770

Jun

12 GST Collections

240

177

Jun

12

ARC - Mick's Sporting Goods

110/110-3

1,947

(sales return)

Jun

12 Inventory

120

Jun

12

500

Cost of Sales
(sales return)

Jun

APC - Addax Sports (select)

960
960

Inventory (select)
GST Outlays (select)
(select)

Jun

(select)
(select)
(select)
(select)

Jun

(select)
(select)
(select)
(select)

Feedback

GENERAL JOURNAL
Date

Account and Explanation

Post
Ref.

Debit

Credit

Jun

12 Sales Returns and Allowances

401

1,770

Jun

12 GST Collections

240

177

Jun

12

ARC - Mick's Sporting Goods

110/110-3

1,947

(sales return)

Jun

12 Inventory

120

Jun

12

500

Cost of Sales

960
960

(sales return)

Jun

21 APC - Addax Sports

210/210-3

1,100

Jun

21

Inventory

120

1,000

Jun

21

GST Outlays

135

100

(purchase return)
(Q=510-110-3.AcctsRec3_week3)

SUBSIDIARY LEDGERS
Account: ARC - Mick's Sporting Goods
Account No. 110-3

Date

Description

Ref.

Debit

Credit

May 31 Balance
Jun

48,726 DR

5 Credit sale

SJ

Jun 12 Sales return

9,735

GJ

58,461 DR
1,947

GJPJSJCRJCPJ

Jun

DRCR

GJPJSJCRJCPJ

Jun

56,514 DR
DRCR

GJPJSJCRJCPJ

Jun

Balance

DRCR

Feedback

Account: ARC - Mick's Sporting Goods

Account No. 110-3

Date

Description

Ref.

Debit

Credit

Balance

May

3
Balance
1

Jun

5 Credit sale

SJ

Jun

1
Sales return
2

GJ

1,947

56,514 DR

Jun

1
Repayment
6

CRJ

56,514

48,726 DR
9,735

(Q=510-110-5.AcctsRec5_week3)

Account: ARC - Croquet and Cricket

Account No. 110-5

Date

Description

58,461 DR

Ref.

Debit

Credit

Balance

May 31 Balance
Jun
Jun
Jun

0
GJPJSJCRJCPJ
GJPJSJCRJCPJ
GJPJSJCRJCPJ

Feedback

Account: ARC - Croquet and Cricket

Account No. 110-5

DRCR
DRCR
DRCR

Date

Description

Ref.

Debit

Credit

Balance

May 31 Balance

Jun 16 Credit sale

SJ

25,058

25,058 DR
(Q=510-110-6.AcctsRec6_week3)

Account: ARC - Great Sports

Account No. 110-6

Date

Description

Ref.

Debit

Credit

Balance

May 31 Balance
Jun

8 Credit sale

14,157

14,157 DR

GJPJSJCRJCPJ

Jun

DRCR

GJPJSJCRJCPJ

Jun

DRCR

GJPJSJCRJCPJ

Jun

SJ

DRCR

Feedback

Account: ARC - Great Sports

Account No. 110-6

Date

Description

Ref.

Debit

Credit

Balance

May 31 Balance
Jun

8 Credit sale

Jun 19 Repayment

SJ

14,157

14,157 DR

CRJ

3,200

Account: APC - Addax Sports

Account No. 210-3

Date

Description

Ref.

Debit

Credit

May 31 Balance
Jun

Balance
42,893 CR

1 Credit purchase

PJ

4,884

GJPJSJCRJCPJ

Jun

DRCR

GJPJSJCRJCPJ

Jun

47,777 CR
DRCR

GJPJSJCRJCPJ

Jun

10,957 DR

(Q=510-210-3.AcctsPay3_week3)

DRCR

Feedback

Account: APC - Addax Sports

Account No. 210-3

Date

Description

Ref.

Debit

Credit

Balance

May 31 Balance
Jun

42,893 CR

1 Credit purchase

PJ

Jun 21 Purchase return

GJ

4,884

47,777 CR

1,100

46,677 CR
(Q=520-100.CashAtBank_week3)

GENERAL LEDGER
Account: Cash at Bank
Account No. 100

Date

Description

Ref.

Debit

Credit

Balance

May 31 Balance

72,894 DR
GJPJSJCRJCPJ

Jun

GJPJSJCRJCPJ

Jun

DRCR

GJPJSJCRJCPJ

Jun

DRCR

DRCR

Feedback

There are no relevant entries in the Cash at Bank ledger for this week.
(Q=520-110.AcctsRecControl_week3)

Account: ARC - Accounts Receivable Control

Account No. 110

Date

Description

Ma
y

3
Balance
1

Jun

1 Sales return from Mick's Sporting

2 Goods

Balance
69,249 DR

Jun
Jun
Jun

Debi Cred
t
it

Ref.

GJ

1,947

67,302 DR

GJPJSJCRJCPJ

DRCR

GJPJSJCRJCPJ

DRCR

GJPJSJCRJCPJ

DRCR

Feedback

There are no relevant entries in the Accounts Receivable Control ledger for this week.
(Q=520-120.Inventory_week3)

Account: Inventory
Account No. 120

Date

Description

Ref.

Deb

Cred

Balance

it
Ma
y

3
Balance
1

Jun

1 Sales return from Mick's Sporting

2 Goods

89,790 DR

Jun
Jun
Jun

it

GJ

960

90,750 DR

GJPJSJCRJCPJ

DRCR

GJPJSJCRJCPJ

DRCR

GJPJSJCRJCPJ

DRCR

Feedback

Account: Inventory
Account No. 120

Date

Description

Ref.

Debit

Credit

May 31 Balance

89,790 DR

Jun 12 Sales return from Mick's Sporting Goods

GJ

Jun 21 Purchase return to Addax Sports

GJ

960

90,750 DR
1,000

Description

Ref.

Debit

Credit

May 31 Balance

Balance
13,905 DR

GJPJSJCRJCPJ

Jun

DRCR

GJPJSJCRJCPJ

Jun

DRCR

GJPJSJCRJCPJ

Jun

89,750 DR

(Q=520-135.TaxPaid_week3)

Account: GST Outlays

Account No. 135

Date

Balance

DRCR

Feedback

Account: GST Outlays

Account No. 135

Date

Description

Ref.

Debit

Credit

May 31 Balance

13,905 DR

Jun 21 Purchase return to Addax Sports

GJ

100

Description

13,805 DR

(Q=520-140.PrepaidRent_week3)

Account: Prepaid Rent

Account No. 140

Date

Balance

Ref.

Debit

Credit

Balance

May 31 Balance

1,200 DR
GJPJSJCRJCPJ

Jun

GJPJSJCRJCPJ

Jun

DRCR

GJPJSJCRJCPJ

Jun

DRCR

DRCR

Feedback

Account: Prepaid Rent

Account No. 140

Date

Description

May

3
Balance
1

Jun

1
Prepaid rent
5

Ref.

Debit

Credit

1,200 DR
CPJ

2,400

Description

3,600 DR
(Q=520-210.AcctsPayControl_week3)

Account: APC - Accounts Payable Control

Account No. 210

Date

Balance

Ref.

Debit

Credit

May 31 Balance

75,381 CR
GJPJSJCRJCPJ

Jun

DRCR

GJPJSJCRJCPJ

Jun

DRCR

GJPJSJCRJCPJ

Jun

Balance

DRCR

Feedback

Account: APC - Accounts Payable Control

Account No. 210

Date

Description

Ref.

Debit

Credit

May 31 Balance

75,381 CR

Jun 21 Purchase return to Addax Sports

GJ

1,100

Ma
y

Description
3
Balance
1

74,281 CR
(Q=520-240.TaxCollected_week3)

Account: GST Collections

Account No. 240

Date

Balance

Ref.

Debi Cred
t
it

Balance
16,451 CR

Jun

1 Sales return from Mick's Sporting

2 Goods

Jun
Jun
Jun

GJ

177

16,274 CR

GJPJSJCRJCPJ

DRCR

GJPJSJCRJCPJ

DRCR

GJPJSJCRJCPJ

DRCR

Feedback

There are no relevant entries in the GST Collections ledger for this week.
(Q=520-400.SalesRevenue_week3)

Account: Sales Revenue

Account No. 400

Date

Description

Ref.

Debit

Credit

Balance

May 31 Balance

0
GJPJSJCRJCPJ

Jun

GJPJSJCRJCPJ

Jun

DRCR

GJPJSJCRJCPJ

Jun

DRCR

DRCR

Feedback

There are no relevant entries in the Sales Revenue ledger for this week.
(Q=520-401.SalesReturns_week3)

Account: Sales Returns and Allowances

Account No. 401

Date

Description

Ma
y

3
Balance
1

Jun

1 Sales return from Mick's Sporting

2 Goods

Jun
Jun
Jun

Debi Cred
t
it

Ref.

Balance
0

GJ

1,77
0

1,770 DR

GJPJSJCRJCPJ

DRCR

GJPJSJCRJCPJ

DRCR

GJPJSJCRJCPJ

DRCR

Feedback

There are no relevant entries in the Sales Returns and Allowances ledger for this week.
(Q=520-500.CostOfSales_week3)

Account: Cost of Sales

Account No. 500

Date

Description

Ma
y

3
Balance
1

Jun

1 Sales return from Mick's Sporting

2 Goods

Balance
0

Jun
Jun
Jun

Debi Cred
t
it

Ref.

GJ

960

960 CR

GJPJSJCRJCPJ

DRCR

GJPJSJCRJCPJ

DRCR

GJPJSJCRJCPJ

DRCR

Feedback

There are no relevant entries in the Cost of Sales ledger for this week.
(Q=520-516.WagesExpense_week3)

Account: Wages Expense

Account No. 516

Date

Description

Ref.

Debit

Credit

Balance

May 31 Balance
GJPJSJCRJCPJ

Jun

DRCR

GJPJSJCRJCPJ

Jun

DRCR

GJPJSJCRJCPJ

Jun

DRCR

Feedback

There are no relevant entries in the Wages Expense ledger for this week.
(Q=520-573.DiscountAllowed_week3)

Account: Discount Allowed

Account No. 573

Date

Description

Ref.

Debit

Credit

Balance

May 31 Balance
Jun

0
GJPJSJCRJCPJ

DRCR

GJPJSJCRJCPJ

Jun

GJPJSJCRJCPJ

Jun

DRCR
DRCR

Feedback

There are no relevant entries in the Discount Allowed ledger for this week.
(Q=530.Inventory2_week3)

INVENTORY CARDS
MJO Basketball Sets

Purchases
Date

May

Jun

Jun

Jun

Jun

Jun

Jun

Unit
s

Unit
Cost
($)

Cost of Sales
Total
Cost
($)

Unit
s

Unit
Cost
($)

Balance

Total
Cost
($)

31

29

200

5800

31

180

5580

Unit
s

Unit
Cost
($)

Total
Cost
($)

31

180

5580

69

200

13800

31

180

5580

98

200

19600

98

200

19600

Feedback

MJO Basketball Sets

Purchases
Date

May

Jun

Unit
s

Unit
Cost
($)

Cost of Sales
Total
Cost
($)

Unit
s

Unit
Cost
($)

Balance

Total
Cost
($)

31

29

200

5800

Unit
s

Unit
Cost
($)

Total
Cost
($)

31

180

5580

69

200

13800

31

180

5580

98

200

19600

Jun

31

180

5580

98

200

19600

Jun

21

64

200

12800

34

200

6800

Jun

21

29

200

5800

-5

200

-1000

(Q=530.Inventory4_week3)

Pairs Of Football Boots

Purchases
Date

May

Jun

Jun

Jun

Jun

Unit
s

Unit
Cost
($)

Cost of Sales
Total
Cost
($)

Unit
s

Unit
Cost
($)

Balance

Total
Cost
($)

31

21

170

3570

12

200

2400

Unit
s

Unit
Cost
($)

Total
Cost
($)

21

170

3570

23

200

4600

11

200

2200

Jun

Feedback

There are no relevant entries in the Pairs Of Football Boots card for this week.
(Q=530.Inventory5_week3)

Sets Of Minor-League Base Balls

Purchases
Date

Unit
s

May

31

Jun

10

Unit
Cost
($)

Cost of Sales
Total
Cost
($)

240

Unit
s

Unit
Cost
($)

Balance

Total
Cost
($)

2400

Unit
s

Unit
Cost
($)

Total
Cost
($)

61

180

10980

61

180

10980

10

240

2400

Jun

Jun

Jun

Jun

Feedback

Sets Of Minor-League Base Balls

Date

Purchases
Unit
s

Unit
Cost

Cost of Sales
Total
Cost

Unit
s

Unit
Cost

Total
Cost

Balance
Unit
s

Unit
Cost

Total
Cost

($)
May

31

Jun

Jun

10

240

16

($)

($)

($)

2400

61

180

10980

240

1440

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Ball-Mart, Australasian Edition 3 (VTA3q)

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($)

($)

61

180

10980

61

180

10980

10

240

2400

240

960