Question
I need help with the Post References of the Sales and Cash Journal as well as posting them to the General ledger accounts in the
I need help with the Post References of the Sales and Cash Journal as well as posting them to the General ledger accounts in the End of Month Posting:
Now that you have finished recording all of the transactions for the month of June, you are ready to perform the end of month posting procedure. The purpose of this end of month posting is to transfer the totals from the special journals to the appropriate general ledger accounts so that the balances in those ledger accounts reflect all of the transactions that occurred throughout the period.
Instructions for end of month posting
1)Total the columns in the special journals. Record the amount in the Total row of each journal.
2)Post the totals of the columns in the special journals to their corresponding ledger account. To confirm that the posting has been performed, a posting reference is recorded in the last row of the special journals. If the total of a column is not required to be posted, you need to record an X in the post reference field for that column.
3)Record the final unadjusted balance of each ledger account in the Unadjusted Balance row of each ledger, even for ledgers with a balance of zero. Although each ledger already has a running balance, the Unadjusted Balance row must still be filled out in order to receive full points.
SALES JOURNAL
Date | Account | Invoice No. | Post Ref. | Accounts Receivable | Sales Tax | Sales Revenue | Cost of Goods Sold | ||
---|---|---|---|---|---|---|---|---|---|
Jun | 6 | ARC - Great Sports | 362 | 110-3 | 5,712 | 272 | 5,440 | 2,880 | |
Jun | 12 | ARC - The Locker Room | 363 | 110-6 | 21,147 | 1,007 | 20,140 | 9,820 | |
Jun | 17 | ARC - Mick's Sporting | 364 | 110-5 | 20,202 | 962 | 19,240 | 10,560 | |
Jun | 28 | ARC - The Locker Room | 365 | 110-6 | 1,197 | 57 | 1,140 | 600 | |
Total | ? | ? | ? | ? | |||||
Post Reference | (?) | (?) | (?) | (?) / (?) |
CASH PAYMENTS JOURNAL
Date | Account | Check No. | Post Ref. | Debit | Credit | |||||
---|---|---|---|---|---|---|---|---|---|---|
Accounts Payable | Merchandise Inventory | Wages Expense | Other Accounts | Cash | ||||||
Jun | 3 | Merchandise Inventory | 731 | X | 3,520 | 3,520 | ||||
Jun | 4 | APC - Sport Borders | 732 | 210-4 | 9,500 | 9,500 | ||||
Jun | 5 | Wages Payable | 733 | 220 | 835 | 1,000 | 1,835 | |||
Jun | 6 | APC - Addax Sports | 734 | 210-2 | 5,400 | 5,400 | ||||
Jun | 9 | APC - Sports 'R Us | 735 | 210-5 | 8,700 | 8,700 | ||||
Jun | 12 | Electricity Payable | 736 | 221 | 1,420 | 1,420 | ||||
Jun | 12 | Wages Expense | 737 | X | 2,384 | 2,384 | ||||
Jun | 15 | Prepaid Rent | 738 | 140 | 2,000 | 2,000 | ||||
Jun | 19 | Wages Expense | 739 | X | 1,695 | 1,695 | ||||
Jun | 22 | APC - Extreme Sports | 740 | 210-3 | 49,313 | 49,313 | ||||
Jun | 24 | APC - J. J. Spud | 741 | 210-1 | 10,215 | 10,215 | ||||
Jun | 26 | Wages Expense | 742 | X | 2,320 | 2,320 | ||||
Jun | 30 | Merchandise Inventory | 743 | X | 3,200 | 3,200 | ||||
Jun | 30 | Salary Expense | 744 | 545 | 5,300 | 5,300 | ||||
Total | ? | ? | ? | ? | ? | |||||
Post Reference | (?) | (?) | (?) | (?) | (?) |
GENERAL LEDGER
Account: Cash Account No. 100
Date | Description | Ref. | Debit | Credit | Balance | ||
---|---|---|---|---|---|---|---|
May | 31 | Balance | 65,589 DR | ||||
Jun | 30 | ||||||
Jun | 30 | ||||||
Jun | 30 | ||||||
Jun | 30 | Unadjusted Balance |
Account: ARC - Accounts Receivable Control Account No. 110
Date | Description | Ref. | Debit | Credit | Balance | ||
---|---|---|---|---|---|---|---|
May | 31 | Balance | 66,657 DR | ||||
Jun | 30 | ||||||
Jun | 30 | ||||||
Jun | 30 | ||||||
Jun | 30 | ||||||
Jun | 30 | Unadjusted Balance |
Account: Merchandise Inventory Account No. 120
Date | Description | Ref. | Debit | Credit | Balance | ||
---|---|---|---|---|---|---|---|
May | 31 | Balance | 66,640 DR | ||||
Jun | 21 | Purchase return to Extreme Sports Inc | GJ | 320 | 66,320 DR | ||
Jun | 30 | ||||||
Jun | 30 | ||||||
Jun | 30 | ||||||
Jun | 30 | ||||||
Jun | 30 | Unadjusted Balance |
Account: APC - Accounts Payable Control Account No. 210
Date | Description | Ref. | Debit | Credit | Balance | ||
---|---|---|---|---|---|---|---|
May | 31 | Balance | 78,148 CR | ||||
Jun | 21 | Purchase return to Extreme Sports Inc | GJ | 320 | 77,828 CR | ||
Jun | 30 | ||||||
Jun | 30 | ||||||
Jun | 30 | DRCR | |||||
Jun | 30 | ||||||
Jun | 30 | Unadjusted Balance |
Account: Sales Tax Payable Account No. 240
Date | Description | Ref. | Debit | Credit | Balance | ||
---|---|---|---|---|---|---|---|
May | 31 | Balance | 14,073 CR | ||||
Jun | 30 | ||||||
Jun | 30 | ||||||
Jun | 30 | ||||||
Jun | 30 | ||||||
Jun | 30 | Unadjusted Balance |
Account: Sales Revenue Account No. 400
Date | Description | Ref. | Debit | Credit | Balance | ||
---|---|---|---|---|---|---|---|
May | 31 | Balance | 0 | ||||
Jun | 30 | ||||||
Jun | 30 | ||||||
Jun | 30 | ||||||
Jun | 30 | Unadjusted Balance |
Account: Cost of Goods Sold Account No. 500
Date | Description | Ref. | Debit | Credit | Balance | ||
---|---|---|---|---|---|---|---|
May | 31 | Balance | 0 | ||||
Jun | 30 | ||||||
Jun | 30 | ||||||
Jun | 30 | ||||||
Jun | 30 | Unadjusted Balance |
Account: Wages Expense Account No. 516
Date | Description | Ref. | Debit | Credit | Balance | ||
---|---|---|---|---|---|---|---|
May | 31 | Balance | 0 | ||||
Jun | 30 | ||||||
Jun | 30 | ||||||
Jun | 30 | ||||||
Jun | 30 | Unadjusted Balance |
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