Can you please solve this perdisco practice set for me. thanks in advance
F - CQ https://www.perdisco.com/elms/qsam/html/qsam.aspx ... V Transactions - week 2 You are now instructed to record transactions that occurred throughout the second week of June into the company's books. The week 2 transactions are listed below: Week 2 Your progress Date Transaction description Purchased 15 Freestyle Snowboards from Extreme Sports Inc for $264 each, terms net 30. INTRODUCTION TRANSACTIONS TRANSACTIONS WEEK 1 WEEK 2 8 Paid the full amount owing to Addax Sports, Cheque No. 682. Payment fell within discount period. 10 Sold 18 Bungee Kits to Mick's Sporting Goods for $592 each, Invoice No. 233. TRANSACTIONS TRANSACTIONS TRANSACTIONS WEEK 5 WEEK 4 WEEK 3 10 Great Sports paid the full amount owing on their account. Since Great Sports has been a loyal customer from the day the business commenced, a 10% discount was given for this early repayment. BANK END OF MONTH 11 Paid sales staff wages of $2, 171 for the week up to and including yesterday, Cheque No. 683. RECONCILIATION POSTING WORKSHEET 13 Paid the full amount owing to Sports 'R Us, Cheque No. 684 13 Made cash sale of 7 Tony Eagle Freestyle Skateboards for $392 each. CLOSING SCHEDULES ADJUSTING Paid the full amount owing to Hike, Cheque No. 685. ENTRIES OF ACCOUNTS ENTRIES 14 Instructions for week 2 POST-CLOSING FINANCIAL YOU HAVE TRIAL BALANCE STATEMENTS NOW FINISHED 1) Record all week 2 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. Completed: 9% (approximately) 2) Post entries recorded in the journals to the appropriate ledger accounts according to the This page will take: up to 2 hours company's accounting policies and procedures. 7 Remaining pages will take: up to 15.25 hours Note that the relevant totals of the special journals will be posted to the general ledger accounts The time frames we provide are a guide only. It at the end of the month. You will enter this after you prepare the Bank Reconciliation Statement. may take you more or less time to complete each page. 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 Your grading 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. Your grading outcome (still in progress Remember to enter all answers to the nearest whole dollar. When calculating a discount, if a Awarded Total 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. Points (prior to this page) 0 132F - CA O A https://www.perdisco.com/elms/qsam/html/qsam.aspx ... (Q=401.salesJournalWeek2) SALES JOURNAL Invoice Post Account Accounts Cost of Date No. Ref. Receivable Sales Jur 10 ARC - Mick's Sporting Goods (select 233 110-3 10656 Jun select Jun select Jun select (Q=402.purchasesJournalWeek2) PURCHASES JOURNAL Post Accounts Date Account Terms Ref. Payable Jun select Jun select Jun select Jun (select (Q=403.cashReceiptsJournalWeek2) 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.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 Date Account Post Credit Cost of Ref. Cash at Discount Sales Accounts Other Sales Bank Allowed Revenue Receivable| Accounts Jun 6 ARC - The Locker Room 110-5 4,624 4,624 Jun select) Jun select Jun select Jun select Jun select Jun select (Q=404.cashPaymentsJournalWeek2) 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 Account Cheque Post Date No. Ref Accounts Wages Cash at Discount Payable Inventory Other Expense Accounts Bank Received Jun 1 Prepaid Rent 677 140 8,800 8,800 Jun Wages Payable 67 220 1,143 1.748(Q=404.cashPaymentsJournalWeek2) 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 Accounts Wages Other Cash at| Discount No. Ref. Payable Inventory Expense Accounts Bank Received 8,800 8,800 Jun 1 Prepaid Rent 677 140 4 Wages Payable 678 220 605 1,143 1,748 Jur 6 APC - Extreme Sports Inc 679 210-6 2,142 2,142 Jun 6 Electricity Payable 680 221 879 879 Jun Jun Office Supplies 681 130 509 509 Jun select) Jun select Jun (select) Jun select Jun select Jun select! (Q=405.generalJournalWeek2) GENERAL JOURNAL Post Date Account and Explanation Debit Credit Ref. (select)(Q=405.generalJournalWeek2) GENERAL JOURNAL Post Date Account and Explanation Debit Ref. Credit Jun select) select Jun select) select Jun select select (Q=410-110-1.AcctsRec1_week2) SUBSIDIARY LEDGERS Account: ARC - Great Sports Account No. 110-1 Date Description Ref. Debit Credit Balance May 31 Balance 2,480 DR Jun v Jun JurSUBSIDIARY LEDGERS Account: ARC - Great Sports Account No. 110-1 Date Description Ref. Debit Credit Balance May 31 Balance 2,480 DR Jun Jun Jur (Q=410-110-3.AcctsRec3_week2) Account: ARC - Mick's Sporting Goods Account No. 110-3 Date Description Ref. Debit Credit Balance May 31 Balance 12,776 DR Jun Jun Jun (Q=410-110-6.AcctsRec6_week2) Account: ARC - Jump Around Account No. 110-6 Date Description Ref. Debit Credit Balance May 31 Balance 3,214 DR Jun(Q=410-110-6.AcctsRec6_week2) Account: ARC - Jump Around Account No. 110-6 Date Description Ref. Debit Credit Balance May 31 Balance 3,214 DR Jun Jun Jun (Q=410-210-1.AcctsPay1_week2) Account: APC - Hike Account No. 210-1 Date Description Ref. Debit Credit Balance May 31 Balance 3,316 CR Jun ...... Jun .................................................................... Jun (Q=410-210-2.AcctsPay2_week2) Account: APC - Addax Sports Account No. 210-2 Date Description Ref. Debit Credit Balance May 31 Balance 2,400 CR Jun JunAccount: APC - Sports 'R US Account No. 210-5 Date Description Ref. Debit Credit Balance May 31 Balance 4,397 CR Jun Jun Jun (Q=410-210-6.AcctsPay6_week2) Account: APC - Extreme Sports Inc Account No. 210-6 Date Description Ref. Debit Credit Balance May 31 Balance 2, 142 CR Jun 6 Repayment CPJ 2,142 Jun Jun .......................................... .......... .........com Jun (Q=420-100.CashAtBank_week2) GENERAL LEDGER Account: Cash at Bank Account No. 100 Date Description Ref. Debit Credit Balance May 31 Balance 66,230 DRhttps://www.perdisco.com/elms/qsam/html/qsam.aspx ... GENERAL LEDGER Account: Cash at Bank Account No. 100 Date Description Ref. Debit Credit Balance May 31 Balance 66,230 DR Jun v Jur Jun (Q=420-110.AcctsRecControl_week2) Account: ARC - Accounts Receivable Control Account No. 110 Date Description Ref. Debit Credit Balance May 31 Balance 30,518 DR Jun Jun Jur (Q=420-120.Inventory_week2) Account: Inventory Account No. 120 Date Description Ref. Debit Credit Balance May 31 Balance 80,296 DR Jun Jun(Q=420-400.SalesRevenue_week2) Account: Sales Revenue Account No. 400 Date Description Ref. Debit Credit Balance May 31 Balance Jun Jun Jun (Q=420-401.SalesReturns_week2) Account: Sales Returns and Allowances Account No. 401 Date Description Ref. Debit Credit Balance May 31 Balance Jun Jun Jun (Q=420-402.DiscountRecd_week2) Account: Discount Received Account No. 402 Date Description Ref. Debit Credit Balance May 31 Balance Jun Jun(Q=420-500.CostOfSales_week2) Account: Cost of Sales Account No. 500 Date Description Ref. Debit Credit Balance May 31 Balance Jun Jun Jun (Q=420-516.WagesExpense_week2) Account: Wages Expense Account No. 516 Date Description Ref. Debit Credit Balance May 31 Balance Jur Jun Jun (Q=420-573.DiscountAllowed_week2) Account: Discount Allowed Account No. 573 Date Description Ref. Debit Credit Balance May 31 Balance Jun V JunINVENTORY CARDS Tony Eagle Freestyle Skateboards Purchases Cost of Sales Balance Date Units Unit Cost Total Cost |Units Unit Cost Total Cost Units Unit Cost Total Cost ($) ($) ($) ($) ($) ($) May 31 3 200 7600 22 240 5280 Jur Jun Jun Jun (Q=430.Inventory3_week2) Bungee Kits(Q=430.Inventory3_week2) Bungee Kits Purchases Cost of Sales Balance Date Units Unit Cost Total Cost Units Unit Cost Total Cost Units Unit Cost Total Cost ($) ($) ($) ($) ($) ($) May 31 74 360 26640 Jun Jun Jun Jun (Q=430.Inventory5_week2) Freestyle Snowboards Purchases Cost of Sales BalanceFreestyle Snowboards (Q=430.Inventory5_week2) Purchases Cost of Sales Balance Date Units Unit Cost Total Cost Units Unit Cost Total Cost Units Unit Cost Total Cost ($) ($) ($) ($) ($) ($) May 31 58 264 15312 Jun Jun Jun Jur Submit answers
