9/17/2020 Transactions - week 5

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Manual Accounting Practice Set
Mercedes Blends, Australasian Edition 3

Feedback: Transactions - week 5

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You are now required to enter transactions that occurred during the final week of June into the company's books. The
following transactions occurred throughout the last week of June:

Week 5
Date Transaction description
29 Made cash sale of 33 packs of Coffee Syrups for $340 each.
29 Purchased 13 bags of Medium Roast Robusta Coffee Beans with cash for a list price of $320 each. A trade
discount of 20% applies, Cheque No. 706.
30 Received 14 bags of Chocolate Coated Coffee Beans for $400 each, which were ordered on the 23rd. Agreed
terms with Jordo Gourmet Coffee are 2/10, n/30.
30 SloZone paid the full amount owing on their account.
30 Paid monthly salary of $4,000 to Antonio Cohen, Cheque No. 707.

Instructions for week 5

1) Record all week 5 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.

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9/17/2020 Transactions - week 5
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.

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 Journals General Journal Subsidiary Ledgers General Ledger Inventory

(Q=701.salesJournalWeek5)

SALES JOURNAL

Invoice Post Accounts Cost of

Date Account
No. Ref. Receivable Sales
Jun 10 ARC - Revamp Coffee Carts 276 110-3 9,500 5,890
Jun 16 ARC - Central Coffee 277 110-5 5,320 2,688
Jun 24 ARC - Central Coffee 278 110-5 40,470 25,200
Jun 26 ARC - Quick Bolt Coffee 279 110-6 8,740 4,480

Jun

Jun

Jun

Jun

Feedback

There are no relevant entries in the sales journal for this week.

(Q=702.purchasesJournalWeek5)

PURCHASES JOURNAL

Post Accounts
Date Account Terms
Ref. Payable
Jun 8 APC - Croup Coffee net 30 210-6 5,950
Jun 17 APC - Abejundio Coffee 2/10, n/30 210-1 4,000
Jun 18 APC - Buena Vista Coffee net 30 210-5 3,360

Jun 30 APC - Jordo Gourmet Coffee 2/10 n/30 210-4 5600

Jun

Jun

Jun

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9/17/2020 Transactions - week 5

Feedback

PURCHASES JOURNAL

Post Accounts
Date Account Terms
Ref. Payable
Jun 8 APC - Croup Coffee net 30 210-6 5,950
Jun 17 APC - Abejundio Coffee 2/10, n/30 210-1 4,000
Jun 18 APC - Buena Vista Coffee net 30 210-5 3,360
Jun 30 APC - Jordo Gourmet Coffee 2/10, n/30 210-4 5,600

(Q=703.cashReceiptsJournalWeek5)

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 Credit
Post Cost of
Date Account Ref. Cash at Discount Sales Accounts Other Sales
Bank Allowed Revenue Receivable Accounts

Jun 2 ARC - Central Coffee 110-5 2,579 2,579

Jun 8 ARC - KavaJava 110-1 4,176 464 4,640
Jun 13 Sales Revenue X 680 680 360
Jun 17 ARC - Quick Bolt Coffee 110-6 2,400 2,400
Jun 20 Sales Revenue X 12,992 12,992 8,560
Jun 24 ARC - Revamp Coffee Carts 110-3 20,585 20,585
Jun 27 Sales Revenue X 20,500 20,500 12,710

Jun 29 Sales Revenue X 11220 0 11220 0 0 6210

Jun 30 ARC - SloZone 110-4 2175 0 0 2175 0 0

Jun

Jun

Jun

Jun

Feedback

CASH RECEIPTS JOURNAL

Debit Credit
Post Cost of
Date Account
Ref. Cash at Discount Sales Accounts Other Sales
Bank Allowed Revenue Receivable Accounts

Jun 2 ARC - Central Coffee 110-5 2,579 2,579

Jun 8 ARC - KavaJava 110-1 4,176 464 4,640
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9/17/2020 Transactions - week 5

Jun 13 Sales Revenue X 680 680 360

Jun 17 ARC - Quick Bolt Coffee 110-6 2,400 2,400
Jun 20 Sales Revenue X 12,992 12,992 8,560
Jun 24 ARC - Revamp Coffee Carts 110-3 20,585 20,585
Jun 27 Sales Revenue X 20,500 20,500 12,710
Jun 29 Sales Revenue X 11,220 11,220 6,210
Jun 30 ARC - SloZone 110-4 2,175 2,175

(Q=704.cashPaymentsJournalWeek5)

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 No. Ref. Accounts Wages Other Cash at Discount
Inventory
Payable Expense Accounts Bank Received

Jun 1 Prepaid Rent 694 140 9,000 9,000

Jun 4 Wages Payable 696 220 1,298 1,143 2,441
Jun 4 Electricity Payable 695 221 813 813
Jun 5 Office Supplies 697 130 302 302
Jun 7 APC - Croup Coffee 698 210-6 3,545 3,545
Jun 10 APC - Dominga Wholesalers 699 210-2 4,500 4,455 45
Jun 11 Wages Expense 700 X 2,340 2,340
Jun 12 APC - Buena Vista Coffee 701 210-5 2,789 2,789
Jun 12 APC - Abejundio Coffee 702 210-1 2,917 2,917
Jun 18 Wages Expense 703 X 1,723 1,723
Jun 22 APC - Abejundio Coffee 704 210-1 4,000 3,920 80
Jun 25 Wages Expense 705 X 2,203 2,203

Jun 29 Inventory 706 X 0 3328 0 0 3328 0

Jun 30 Salary Expense 707 545 0 0 0 4000 4000 0

Jun

Jun

Jun

Jun

Feedback

CASH PAYMENTS JOURNAL

Date Account Cheque Post Debit Credit

No. Ref.
Accounts Inventory Wages Other Cash Discount

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9/17/2020 Transactions - week 5
Payable Expense Accounts at Received
Bank

Jun 1 Prepaid Rent 694 140 9,000 9,000

Jun 4 Wages Payable 696 220 1,298 1,143 2,441
Jun 4 Electricity Payable 695 221 813 813
Jun 5 Office Supplies 697 130 302 302
Jun 7 APC - Croup Coffee 698 210-6 3,545 3,545
Jun 10 APC - Dominga Wholesalers 699 210-2 4,500 4,455 45
Jun 11 Wages Expense 700 X 2,340 2,340
Jun 12 APC - Buena Vista Coffee 701 210-5 2,789 2,789
Jun 12 APC - Abejundio Coffee 702 210-1 2,917 2,917
Jun 18 Wages Expense 703 X 1,723 1,723
Jun 22 APC - Abejundio Coffee 704 210-1 4,000 3,920 80
Jun 25 Wages Expense 705 X 2,203 2,203
Jun 29 Inventory 706 X 3,328 3,328
Jun 30 Salary Expense 707 545 4,000 4,000

(Q=705.generalJournalWeek5)

GENERAL JOURNAL

Post
Date Account and Explanation Debit Credit
Ref.
Jun 20 Sales Returns and Allowances 401 1,500
Jun 20 ARC - Revamp Coffee Carts 110/110-3 1,500
(sales return)

Jun 20 Inventory 120 930

Jun 20 Cost of Sales 500 930
(sales return)

Jun 28 APC - Buena Vista Coffee 210/210-5 1,890

Jun 28 Inventory 120 1,890
(purchase return)

Jun

Jun

Jun

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9/17/2020 Transactions - week 5

Feedback

There are no relevant entries in the general journal for this week.

(Q=710-110-4.AcctsRec4_week5)

SUBSIDIARY LEDGERS
Account: ARC - SloZone
Account No. 110-4

Date Description Ref. Debit Credit Balance

May 31 Balance 2,175 DR

Jun 30 repayment CRJ 0 2175 0

Jun

Jun

Feedback

Account: ARC - SloZone

Account No. 110-4

Date Description Ref. Debit Credit Balance

May 31 Balance 2,175 DR
Jun 30 Repayment CRJ 2,175 0

(Q=710-210-4.AcctsPay4_week5)
Account: APC - Jordo Gourmet Coffee
Account No. 210-4

Date Description Ref. Debit Credit Balance

May 31 Balance 3,823 CR

Jun 30 credit purchase PJ 0 5600 9423 CR

Jun

Jun

Feedback

Account: APC - Jordo Gourmet Coffee

Account No. 210-4

Date Description Ref. Debit Credit Balance

May 31 Balance 3,823 CR
Jun 30 Credit purchase PJ 5,600 9,423 CR

(Q=720-100.CashAtBank_week5)

GENERAL LEDGER
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9/17/2020 Transactions - week 5

Account: Cash at Bank

Account No. 100

Date Description Ref. Debit Credit Balance

May 31 Balance 71,358 DR

Jun

Jun

Jun

Feedback

There are no relevant entries in the Cash at Bank ledger for this week.

(Q=720-110-0.ARControl_week5)
Account: ARC - Accounts Receivable Control
Account No. 110

Date Description Ref. Debit Credit Balance

May 31 Balance 30,401 DR
Jun 20 Sales return from Revamp Coffee Carts GJ 1,500 28,901 DR

Jun

Jun

Jun

Jun

Feedback

There are no relevant entries in the Accounts Receivable Control ledger for this week.

(Q=720-210-0.APControl_week5)
Account: APC - Accounts Payable Control
Account No. 210

Date Description Ref. Debit Credit Balance

May 31 Balance 44,057 CR
Jun 28 Purchase return to Buena Vista Coffee GJ 1,890 42,167 CR

Jun

Jun

Jun

Jun

Feedback

There are no relevant entries in the Accounts Payable Control ledger for this week.

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(Q=720-400.SalesRevenue_week5)
Account: Sales Revenue
Account No. 400

Date Description Ref. Debit Credit Balance

May 31 Balance 0

Jun

Jun

Jun

Feedback

There are no relevant entries in the Sales Revenue ledger for this week.

(Q=720-402.DiscountReceived_week5)
Account: Discount Received
Account No. 402

Date Description Ref. Debit Credit Balance

May 31 Balance 0

Jun

Jun

Jun

Feedback

There are no relevant entries in the Discount Received ledger for this week.

(Q=720-500.CostOfSales_week5)
Account: Cost of Sales
Account No. 500

Date Description Ref. Debit Credit Balance

May 31 Balance 0
Jun 20 Sales return from Revamp Coffee Carts GJ 930 930 CR

Jun

Jun

Jun

Feedback

There are no relevant entries in the Cost of Sales ledger for this week.

(Q=720-516.WagesExpense_week5)
Account: Wages Expense
Account No. 516

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9/17/2020 Transactions - week 5
Date Description Ref. Debit Credit Balance
May 31 Balance 0

Jun

Jun

Jun

Feedback

There are no relevant entries in the Wages Expense ledger for this week.

(Q=720-545.SalaryExpense_week5)
Account: Salary Expense
Account No. 545

Date Description Ref. Debit Credit Balance

May 31 Balance 0

Jun 30 salary CPJ 4000 0 4000 DR

Jun

Jun

Feedback

Account: Salary Expense

Account No. 545

Date Description Ref. Debit Credit Balance

May 31 Balance 0
Jun 30 Owner salary CPJ 4,000 4,000 DR

(Q=720-573.DiscountAllowed_week5)
Account: Discount Allowed
Account No. 573

Date Description Ref. Debit Credit Balance

May 31 Balance 0

Jun

Jun

Jun

Feedback

There are no relevant entries in the Discount Allowed ledger for this week.

(Q=730.Inventory1_week5)

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9/17/2020 Transactions - week 5

INVENTORY CARDS
Packs Of Coffee Syrups

Purchases Cost of Sales Balance

Date Units Unit Cost Total Cost Units Unit Cost Total Cost Units Unit Cost Total Cost
($) ($) ($) ($) ($) ($)
May 31 26 180 4680
23 210 4830

Jun 13 2 180 360 24 180 4320

23 210 4830

Jun 18 16 210 3360 24 180 4320

39 210 8190

Jun 28 -9 210 -1890 24 180 4320

30 210 6300

Jun 29 0 0 0 24 180 4320 21 210 4410

9 210 1890 0 0 0

Jun

Jun

Jun

Feedback

Packs Of Coffee Syrups

Purchases Cost of Sales Balance

Date Units Unit Total Units Units

Unit Cost Total Cost Unit Cost Total Cost
Cost Cost
($) ($) ($) ($)
($) ($)
May 31 26 180 4680
23 210 4830

Jun 13 2 180 360 24 180 4320

23 210 4830

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9/17/2020 Transactions - week 5

Jun 18 16 210 3360 24 180 4320

39 210 8190

Jun 28 -9 210 -1890 24 180 4320

30 210 6300

Jun 29 24 180 4320 21 210 4410

9 210 1890

(Q=730.Inventory2_week5)
Bags Of Medium Roast Robusta Coffee Beans

Purchases Cost of Sales Balance

Date Units Unit Cost Total Cost Units Unit Cost Total Cost Units Unit Cost Total Cost
($) ($) ($) ($) ($) ($)
May 31 18 280 5040
58 320 18560

Jun 20 18 280 5040 47 320 15040

11 320 3520

Jun 29 13 256 3328 0 0 0 47 320 15040

0 0 0 13 256 3328

Jun

Jun

Jun

Feedback

Bags Of Medium Roast Robusta Coffee Beans

Purchases Cost of Sales Balance

Date Units Unit Total Units Units

Unit Cost Total Cost Unit Cost Total Cost
Cost Cost
($) ($) ($) ($)
($) ($)

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9/17/2020 Transactions - week 5
May 31 18 280 5040
58 320 18560

Jun 20 18 280 5040 47 320 15040

11 320 3520

Jun 29 13 256 3328 47 320 15040

13 256 3328

(Q=730.Inventory5_week5)
Bags Of Chocolate Coated Coffee Beans

Purchases Cost of Sales Balance

Date Units Unit Cost Total Cost Units Unit Cost Total Cost Units Unit Cost Total Cost
($) ($) ($) ($) ($) ($)
May 31 47 350 16450

Jun 8 17 350 5950 64 350 22400

Jun 17 10 400 4000 64 350 22400

10 400 4000

Jun 24 64 350 22400 3 400 1200

7 400 2800

Jun 30 14 400 5600 0 0 0 17 400 6800

0 0 0 0 0 0

Jun

Jun

Jun

Feedback

Bags Of Chocolate Coated Coffee Beans

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9/17/2020 Transactions - week 5
Date Purchases Cost of Sales Balance
Units Unit Total Units Units
Unit Cost Total Cost Unit Cost Total Cost
Cost Cost
($) ($) ($) ($)
($) ($)
May 31 47 350 16450

Jun 8 17 350 5950 64 350 22400

Jun 17 10 400 4000 64 350 22400

10 400 4000

Jun 24 64 350 22400 3 400 1200

7 400 2800

Jun 30 14 400 5600 17 400 6800

Manual Accounting Practice Set

Mercedes Blends, Australasian Edition 3 (VSA3q)
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