4 Transactions - Week 4

Transactions - week 4 3/22/19, 4)19 PM
Manual Accounting Practice Set

Renegade Sports, US GAAP Edition 3
Feedback: Transactions - week 4

This is a feedback page. Please review this page carefully because later pages in this practice set build on the
feedback provided here. After you have reviewed your feedback page, click Continue at the bottom of this page
to move on to the next page of your practice set.
Your progress Your grading
Your grading outcome (still in progress)

Awarded Total
Points (prior to this page) 374 408
Points (on this page) 86 88
Points (after this page) − 593
Total 460 1,089
Completed: 36% (approximately)
Remaining pages will take: up to 12.25 hours

The time frames we provide are a guide only. It may
take you more or less time to complete each step.
You are now asked to record transactions that occurred throughout the fourth week of June in the company's
books. The week 4 transactions are listed below:
Week 4
Date Transaction description
22 Sold 98 GPS-enabled Football Jerseys to Croquet and Cricket for $256 each, Invoice No. 755.
23 The Locker Room paid the full amount owing on their account.
23 Ordered 11 GPS-enabled Football Jerseys from Extreme Sports Inc for $184 each. Agreed terms with Extreme
Sports Inc are 2/10, n/30.
25 Paid sales staff wages of $2,415 for the week up to and including yesterday, Check No. 646.
26 Delivered 23 pairs of Football Boots to Great Sports for $248 each, Invoice No. 756. These items were ordered
on the 18th.
https://www.perdisco.com/elms/qsam/html/qsam.aspx Page 1 of 19
26 Made cash sale of 26 MJO Basketball Sets for $416 each.

28 Paid the full amount owing to Sports 'R Us, Check No. 647. Payment fell outside discount period.
28 Returned 8 faulty Quidditch Snitches, originally purchased for $432 each, to Addax Sports. Received a Credit
Note for $3,456.
Instructions for week 4
1) Record all week 4 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 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.

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 Journals General Journal Subsidiary Ledgers General Ledger Inventory
(Q=601.salesJournalWeek4)
SALES JOURNAL
Cost of
Invoice Post Accounts
Date Account Goods
No. Ref. Receivable
Sold
Jun 10 ARC - The Locker Room 753 110-3 7,904 4,864
Jun 15 ARC - Croquet and Cricket 754 110-5 1,984 896
Jun 22 ARC - Croquet and Cricket 755 110-5 25088 15896
Jun 26 ARC - Great Sports 756 110-6 5704 2632
Jun
Jun
Feedback
SALES JOURNAL
Cost of
Invoice Post Accounts
Date Account Goods
No. Ref. Receivable
Sold
Jun 10 ARC - The Locker Room 753 110-3 7,904 4,864
Jun 15 ARC - Croquet and Cricket 754 110-5 1,984 896
Jun 22 ARC - Croquet and Cricket 755 110-5 25,088 15,896
Jun 26 ARC - Great Sports 756 110-6 5,704 2,632
(Q=602.purchasesJournalWeek4)
PURCHASES JOURNAL
Post Accounts
Date Account Terms
Ref. Payable
Jun 8 APC - Sport Borders net 30 210-6 2,720
Jun 15 APC - Sports 'R Us 2/10, n/30 210-1 3,680
Jun 17 APC - Addax Sports net 30 210-5 8,208
Jun
Jun
Jun
Jun
Feedback
There are no relevant entries in the purchases journal for this week.
(Q=603.cashReceiptsJournalWeek4)
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 Credit Cost of

Post
Date Account Ref. Sales Sales Accounts Other Goods
Cash Sold
Discounts Revenue Receivable Accounts
Jun 1 Bank Loan Payable 250 55,000 55,000

Jun 4 ARC - Croquet and Cricket 110-5 4,939 4,939
Jun 12 Sales Revenue X 19,488 19,488 9,632
Jun 14 ARC - Mick's Sporting Goods 110-1 2,529 281 2,810
Jun 17 ARC - Great Sports 110-6 1,500 1,500
Jun 23 ARC - The Locker Room 110-3 18241 0 0 18241 0 0
Jun 26 Sales Revenue x 10816 0 10816 0 0 6656
Jun
Jun
Jun
Jun
Feedback
CASH RECEIPTS JOURNAL
Debit Credit Cost of

Post
Date Account Ref. Sales Sales Accounts Other Goods
Cash Sold
Discounts Revenue Receivable Accounts
Jun 1 Bank Loan Payable 250 55,000 55,000

Jun 4 ARC - Croquet and Cricket 110-5 4,939 4,939
Jun 14 ARC - Mick's Sporting Goods 110-1 2,529 281 2,810
Jun 17 ARC - Great Sports 110-6 1,500 1,500

Jun 23 ARC - The Locker Room 110-3 18,241 18,241
(Q=604.cashPaymentsJournalWeek4)
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.
Debit Credit
Check Post
Date Account No. Ref. Accounts Merchandise Wages Other
Cash
Payable Inventory Expense Accounts
Jun 1 APC - Sport Borders 636 210-6 2,927 2,927

Jun 1 Prepaid Rent 637 140 9,100 9,100
Jun 4 Electricity Payable 638 221 882 882
Jun 4 Wages Payable 639 220 481 1,196 1,677
Jun 4 Office Supplies 640 130 458 458
Jun 10 APC - J. J. Spud 641 210-2 2,033 2,033
Jun 11 Wages Expense 642 X 1,605 1,605
Jun 13 APC - Addax Sports 643 210-5 3,744 3,744
Jun 13 APC - Sports 'R Us 644 210-1 4,434 4,434
Jun 25 Wages Expense 646 x 0 0 2415 0 2415
Jun 28 APC - Sports 'R Us 647 210-1 3680 0 0 0 3680
Jun
Jun
Jun
Jun
Feedback
CASH PAYMENTS JOURNAL
Debit Credit
Check Post
Date Account No. Ref. Accounts Merchandise Wages Other
Cash
Payable Inventory Expense Accounts
Jun 1 APC - Sport Borders 636 210-6 2,927 2,927

Jun 1 Prepaid Rent 637 140 9,100 9,100
Jun 4 Electricity Payable 638 221 882 882
Jun 4 Wages Payable 639 220 481 1,196 1,677
Jun 4 Office Supplies 640 130 458 458
Jun 10 APC - J. J. Spud 641 210-2 2,033 2,033
Jun 13 APC - Addax Sports 643 210-5 3,744 3,744
(Q=605.generalJournalWeek4)
GENERAL JOURNAL
Post
Date Account and Explanation Debit Credit
Ref.
Jun 19 Sales Returns and Allowances 401 4,160
Jun 19 ARC - The Locker Room 110/110-3 4,160
(sales return)
Jun 19 Merchandise Inventory 120 2,560

Jun 19 Cost of Goods Sold 500 2,560
(sales return)
Jun 28 APC - Addax Sports 210/210-5 3456 0
28 Merchandise Inventory 120 0 3456
Jun
Jun
Feedback
GENERAL JOURNAL
Post
Date Account and Explanation Debit Credit
Ref.
Jun 19 Sales Returns and Allowances 401 4,160
Jun 19 ARC - The Locker Room 110/110-3 4,160
(sales return)

Jun 19 Cost of Goods Sold 500 2,560
(sales return)
Jun 28 APC - Addax Sports 210/210-5 3,456

(purchase return)
(Q=610-110-3.AcctsRec3_week4)
SUBSIDIARY LEDGERS
Account: ARC - The Locker Room
Account No. 110-3
Date Description Ref. Debit Credit Balance

May 31 Balance 14,497 DR
Jun 10 Credit sale SJ 7,904 22,401 DR
Jun 19 Sales return GJ 4,160 18,241 DR
Jun 23 a CRJ 0 18241 0
Jun
Jun
Feedback
Account: ARC - The Locker Room

Account No. 110-3

Jun 19 Sales return GJ 4,160 18,241 DR
Jun 23 Repayment CRJ 18,241 0
Account: ARC - Croquet and Cricket
Account No. 110-5

Jun 22 a CRJ 25088 0 27072 DR
Jun
Jun
Feedback
Account: ARC - Croquet and Cricket

Account No. 110-5

Account: ARC - Great Sports
Account No. 110-6

Jun 17 Repayment CRJ 1,500 1,279 DR
Jun 26 a SJ 5704 0 6983 DR
Jun
Jun
Feedback
Account: ARC - Great Sports

Account No. 110-6

Jun 17 Repayment CRJ 1,500 1,279 DR
(Q=610-210-1.AcctsPay1_week4)
Account: APC - Sports 'R Us
Account No. 210-1

May 31 Balance 4,434 CR
Jun 13 Repayment CPJ 4,434 0
Jun 15 Credit purchase PJ 3,680 3,680 CR
Jun 28 a CPJ 3680 0 0
Jun
Jun
Feedback
Account: APC - Sports 'R Us

Account No. 210-1

Account: APC - Extreme Sports Inc
Account No. 210-4

Jun
Jun
Jun
Feedback
There are no relevant entries in the Extreme Sports Inc ledger for this week.
Account: APC - Addax Sports
Account No. 210-5

Jun 28 a GJ 3456 0 4752 DR
Jun
Jun
Feedback
Account: APC - Addax Sports

Account No. 210-5

Jun 28 Purchase return GJ 3,456 4,752 CR
(Q=620-100.Cash_week4)
GENERAL LEDGER
Account: Cash
Account No. 100

Jun
Jun
Jun
Feedback
There are no relevant entries in the Cash ledger for this week.
(Q=620-110.AcctsRecControl_week4)
Account: ARC - Accounts Receivable Control
Account No. 110

Jun 19 Sales return from The Locker Room GJ 4,160 29,158 DR
Jun
Jun
Jun
Feedback
There are no relevant entries in the Accounts Receivable Control ledger for this week.
(Q=620-120.Inventory_week4)
Account: Merchandise Inventory
Account No. 120

Jun 28 a GJ 0 3456 81544 DR
Jun
Jun
Feedback
Account: Merchandise Inventory

Account No. 120

Jun 28 Purchase return to Addax Sports GJ 3,456 81,544 DR
(Q=620-210.AcctsPayControl_week4)
Account: APC - Accounts Payable Control
Account No. 210

Jun 28 a GJ 3456 0 42619 CR
Jun
Jun
Feedback
Account: APC - Accounts Payable Control

Account No. 210

Jun 28 Purchase return to Addax Sports GJ 3,456 42,619 CR
(Q=620-400.SalesRevenue_week4)
Account: Sales Revenue
Account No. 400

May 31 Balance 0
Jun
Jun
Jun
Feedback
There are no relevant entries in the Sales Revenue ledger for this week.
(Q=620-402.SalesDisc_week4)
Account: Sales Discounts
Account No. 402
May 31 Balance 0
Jun
Jun
Jun
Feedback
There are no relevant entries in the Sales Discounts ledger for this week.
(Q=620-500.CostOfSales_week4)
Account: Cost of Goods Sold
Account No. 500
May 31 Balance 0
Jun 19 Sales return from The Locker Room GJ 2,560 2,560 CR
Jun
Jun
Jun
Feedback
There are no relevant entries in the Cost of Goods Sold ledger for this week.
(Q=620-516.WagesExpense_week4)
Account: Wages Expense
Account No. 516

May 31 Balance 0
Jun
Jun
Jun
Feedback
There are no relevant entries in the Wages Expense ledger for this week.
(Q=630.Inventory1_week4)
INVENTORY CARDS
Quidditch Snitches
Purchases Cost of Goods Sold Balance

Date Units Unit Cost Total Cost Units Unit Cost Total Cost Units Unit Cost Total Cost
($) ($) ($) ($) ($) ($)
May 31 35 344 12040
24 432 10368
Jun 12 28 344 9632 7 344 2408

24 432 10368
Jun 17 19 432 8208 7 344 2408

43 432 18576
Jun 28 -8 432 -3456 0 0 0 7 344 2408
0 0 0 35 432 15120
Jun
Jun
Jun
Feedback
Quidditch Snitches

($) ($) ($) ($) ($) ($)
May 31 35 344 12040

24 432 10368
Jun 12 28 344 9632 7 344 2408

24 432 10368
Jun 17 19 432 8208 7 344 2408

43 432 18576
Jun 28 -8 432 -3456 7 344 2408
35 432 15120
MJO Basketball Sets

($) ($) ($) ($) ($) ($)
May 31 83 256 21248
Jun 10 19 256 4864 64 256 16384
Jun 19 -10 256 -2560 74 256 18944
Jun 26 0 0 0 26 256 6656 48 256 12288
0 0 0 0 0 0
Jun
Jun
Jun
Feedback
MJO Basketball Sets

($) ($) ($) ($) ($) ($)
May 31 83 256 21248
Jun 10 19 256 4864 64 256 16384
Jun 19 -10 256 -2560 74 256 18944
Jun 26 26 256 6656 48 256 12288
Pairs Of Football Boots

($) ($) ($) ($) ($) ($)
May 31 24 112 2688

23 120 2760
Jun 15 8 112 896 16 112 1792

23 120 2760
Jun 26 0 0 0 16 112 1792 16 120 1920
7 120 840 0 0 0
Jun
Jun
Jun
Feedback
Pairs Of Football Boots

($) ($) ($) ($) ($) ($)
May 31 24 112 2688
23 120 2760
Jun 15 8 112 896 16 112 1792

23 120 2760
Jun 26 16 112 1792 16 120 1920

7 120 840
GPS-Enabled Football Jerseys

($) ($) ($) ($) ($) ($)
May 31 72 160 11520
Jun 8 17 160 2720 89 160 14240
Jun 15 20 184 3680 89 160 14240

20 184 3680
Jun 22 0 0 0 89 160 14240 11 184 2024
9 184 1656 0 0 0
Jun
Jun
Jun
Feedback
GPS-Enabled Football Jerseys

($) ($) ($) ($) ($) ($)
May 31 72 160 11520
Jun 8 17 160 2720 89 160 14240
Jun 15 20 184 3680 89 160 14240

20 184 3680
Jun 22 89 160 14240 11 184 2024

9 184 1656
Manual Accounting Practice Set

Renegade Sports, US GAAP Edition 3 (VSU3q)
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4 Transactions - Week 4

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Transactions - week 4 3/22/19, 4)19 PM

Manual Accounting Practice Set

Feedback: Transactions - week 4

Your progress Your grading

Your grading outcome (still in progress)

Completed: 36% (approximately)

Remaining pages will take: up to 12.25 hours

26 Made cash sale of 26 MJO Basketball Sets for $416 each.

Instructions for week 4

1) Record all week 4 transactions in the relevant journals.

3) Update inventory cards on a daily basis.

Enter all answers to the nearest whole dollar.

Jun 15 ARC - Croquet and Cricket 754 110-5 1,984 896

Jun 22 ARC - Croquet and Cricket 755 110-5 25088 15896

Jun 26 ARC - Great Sports 756 110-6 5704 2632

CASH RECEIPTS JOURNAL

Debit Credit Cost of

Jun 1 Bank Loan Payable 250 55,000 55,000

Jun 23 ARC - The Locker Room 110-3 18241 0 0 18241 0 0

Jun 26 Sales Revenue x 10816 0 10816 0 0 6656

CASH RECEIPTS JOURNAL

Debit Credit Cost of

Jun 1 Bank Loan Payable 250 55,000 55,000

Jun 17 ARC - Great Sports 110-6 1,500 1,500

CASH PAYMENTS JOURNAL

Jun 1 APC - Sport Borders 636 210-6 2,927 2,927

Jun 25 Wages Expense 646 x 0 0 2415 0 2415

Jun 28 APC - Sports 'R Us 647 210-1 3680 0 0 0 3680

CASH PAYMENTS JOURNAL

Jun 1 APC - Sport Borders 636 210-6 2,927 2,927

Jun 19 Merchandise Inventory 120 2,560

Jun 28 APC - Addax Sports 210/210-5 3456 0

28 Merchandise Inventory 120 0 3456

Jun 19 Merchandise Inventory 120 2,560

Jun 28 APC - Addax Sports 210/210-5 3,456

Date Description Ref. Debit Credit Balance

Jun 23 a CRJ 0 18241 0

Account: ARC - The Locker Room

Date Description Ref. Debit Credit Balance

Date Description Ref. Debit Credit Balance

Jun 22 a CRJ 25088 0 27072 DR

Account: ARC - Croquet and Cricket

Date Description Ref. Debit Credit Balance

Date Description Ref. Debit Credit Balance

Jun 26 a SJ 5704 0 6983 DR

Account: ARC - Great Sports

Date Description Ref. Debit Credit Balance

Date Description Ref. Debit Credit Balance

Jun 28 a CPJ 3680 0 0

Account: APC - Sports 'R Us

Date Description Ref. Debit Credit Balance

Date Description Ref. Debit Credit Balance

Date Description Ref. Debit Credit Balance

Jun 28 a GJ 3456 0 4752 DR

Account: APC - Addax Sports

Date Description Ref. Debit Credit Balance

Date Description Ref. Debit Credit Balance

Date Description Ref. Debit Credit Balance

Date Description Ref. Debit Credit Balance

Jun 28 a GJ 0 3456 81544 DR

Account: Merchandise Inventory

Date Description Ref. Debit Credit Balance

Date Description Ref. Debit Credit Balance

Jun 28 a GJ 3456 0 42619 CR