Week 5
Date	Transaction description
29	Bovine & Hobbitson paid the full amount owing on their account. (5,805 )
29	Made cash sale of 44 boxes of copies of NYE 1983 for $420 each plus 5% sales tax.
29	Purchased 28 boxes of copies of Accidental Accountant with cash for a list price of $200 each. A trade discount of 20% applies, Check No. 796.
30	Received 14 boxes of copies of Barry Plotter and the Half-paid Debt for $300 each, which were ordered on the 25th, agreed terms with Books R Us are 2/10, n/30.
30	Paid monthly salary of $5,400 to Helena Michelson, Check No. 797.

You may leave COGS blank

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 ina 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 cedures 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 before 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 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 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 instructionsand 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 SALES JOURNAL Cost of Sales Goods Post Accounts Sales Tax Revenue Sold Date Account No. Ref. Receivable 10,773 26,733 56,175 798 Jun5 ARC Cough-up bookstore Jun 11ARC Hoarders Jun 15 ARC Amazone.com Jun 22 ARC Hoarders Jun Jun Jun Jun 458 110-3 459 110-6 460110-5 461 110-6 513 10,260 5,320 1,273 25,460 10,920 2,675 53,50027,980 400 38 760 select) select) select) PURCHASES JOURNAL Post Accounts Ref Date Jun 2 Jun 2 Jun Jun Jun Jun Account Terms Payable net 30 2/10, n/30 2APC Polar Bear Books 210-3 3,960 4,500 2 APC Deterministic Garage 210-1 sele sele sele sele CASH RECEIPTS JOURNAL Note: In order to receive full points, for each transaction you must select an account under the column labeled 'Account', as indicated under the additional instructions above. Since all transactions in this journal affect the Cash 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 Credlt Cost of Post Cesh S es Acoounts Other Goods cash Revenue Tax Receivable Accounts Sold Date Account 250 40,0o0 Jun1 Bank Loan Payable Jun5 Sales Revenue 40,000 9,800 X 29,400 28,000 1,400 X 7,0566,720336 Jun 12 Sales Revenue 2,880 Jun 13 ARC Attic Books Jun 17A Jun 19 Sales Revenue Jun 20 ARC Hoarders Jun 26 Sales Revenue Jun bari Jun Jun Jun Jun 110-15,000 5,000 ARC - Cough-up bookstore 110-3 59,904 59,904 14,400 X28,350 27,000 1,350 110-6 17,000 17,000 59,535| 56,700| 2,835 29,560 sele sele sele sele sele select) CASH PAYMENTS JOURNAL Note: In order to receive full points, for each transaction you must select an account under the column labeled 'Account', as indicated under the additional instructions above. Since all transactions in this journal affect the Cash 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. Deblt Credit Check Post Date Account No. Ref. Accounts Merchandise Wages Other Cash Payable Inventory Expense Accounts Jun1Merchandise Inventory Jun 2 APC Albatross Jun 3 APC - Books R Us Jun 4 Wages Payable Jun11 Wages Expense Jun 12 APC - Booked Inn Jun 13 Electricity Payable Jun 15 Prepaid Rent Jun 18 Wages Expense Jun| 23 APC Deterministic Garage Jun 23 APC - Polar Bear Books Jun 25 Wages Expense Jun 784 785 210-26,700 786 210-4 7,600 787 220 788 789 210-5 9,900 790 221 791 140 792 793 2101 13,068 794 210-3 44,258 4,000 6,700 7,600 1,504 2,000 3,504 4,254 9,900 1,224 1,224 3,2003,200 4,254 4,189 4,103 13,068 44,258 3,856 3,856 select) select) select) select) select) select) ari AFI AFI AFI ari 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 ina 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 cedures 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 before 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 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 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 instructionsand 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 SALES JOURNAL Cost of Sales Goods Post Accounts Sales Tax Revenue Sold Date Account No. Ref. Receivable 10,773 26,733 56,175 798 Jun5 ARC Cough-up bookstore Jun 11ARC Hoarders Jun 15 ARC Amazone.com Jun 22 ARC Hoarders Jun Jun Jun Jun 458 110-3 459 110-6 460110-5 461 110-6 513 10,260 5,320 1,273 25,460 10,920 2,675 53,50027,980 400 38 760 select) select) select) PURCHASES JOURNAL Post Accounts Ref Date Jun 2 Jun 2 Jun Jun Jun Jun Account Terms Payable net 30 2/10, n/30 2APC Polar Bear Books 210-3 3,960 4,500 2 APC Deterministic Garage 210-1 sele sele sele sele CASH RECEIPTS JOURNAL Note: In order to receive full points, for each transaction you must select an account under the column labeled 'Account', as indicated under the additional instructions above. Since all transactions in this journal affect the Cash 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 Credlt Cost of Post Cesh S es Acoounts Other Goods cash Revenue Tax Receivable Accounts Sold Date Account 250 40,0o0 Jun1 Bank Loan Payable Jun5 Sales Revenue 40,000 9,800 X 29,400 28,000 1,400 X 7,0566,720336 Jun 12 Sales Revenue 2,880 Jun 13 ARC Attic Books Jun 17A Jun 19 Sales Revenue Jun 20 ARC Hoarders Jun 26 Sales Revenue Jun bari Jun Jun Jun Jun 110-15,000 5,000 ARC - Cough-up bookstore 110-3 59,904 59,904 14,400 X28,350 27,000 1,350 110-6 17,000 17,000 59,535| 56,700| 2,835 29,560 sele sele sele sele sele select) CASH PAYMENTS JOURNAL Note: In order to receive full points, for each transaction you must select an account under the column labeled 'Account', as indicated under the additional instructions above. Since all transactions in this journal affect the Cash 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. Deblt Credit Check Post Date Account No. Ref. Accounts Merchandise Wages Other Cash Payable Inventory Expense Accounts Jun1Merchandise Inventory Jun 2 APC Albatross Jun 3 APC - Books R Us Jun 4 Wages Payable Jun11 Wages Expense Jun 12 APC - Booked Inn Jun 13 Electricity Payable Jun 15 Prepaid Rent Jun 18 Wages Expense Jun| 23 APC Deterministic Garage Jun 23 APC - Polar Bear Books Jun 25 Wages Expense Jun 784 785 210-26,700 786 210-4 7,600 787 220 788 789 210-5 9,900 790 221 791 140 792 793 2101 13,068 794 210-3 44,258 4,000 6,700 7,600 1,504 2,000 3,504 4,254 9,900 1,224 1,224 3,2003,200 4,254 4,189 4,103 13,068 44,258 3,856 3,856 select) select) select) select) select) select) ari AFI AFI AFI ari