End of month posting PDF

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Feedback: End of month posting 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.

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Your grading Your grading outcome (still in progress) Awarded Total Points (prior to this page) 668

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122

Points (after this page)

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Total

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Now that you have completed the June bank reconciliation process, 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 remaining columns in the special journals. Record the amount in the Total row of each journal. 2)Post the totals of the remaining 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. 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 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. If you want to print this page, please read and follow the special printing information to ensure you can print the special journals in full.

Information from previous pages 

General instructions



Policies and procedures



All transactions



Adjusting entries information



Trial balance - May



Schedules of accounts - May



Inventory cards - May



Bank reconciliation - May



Bank statement - June



Journals and ledgers instructions



Inventory cards instructions



Special printing information



Inventory cards - June

Show AllSpecial JournalsGeneral JournalSubsidiary LedgersGeneral Ledger (Q=811.salesJournalEndMonth)

SALES JOURNAL Date J u n

11

Account

Invoice No.

ARC - Jerry Technology

478

Post Ref. 110-3

Accounts Receivable

17,920

Cost of Sales

15,200

J u n

17

ARC - Turbo Tech

479

110-5

9,600

6,080

J u n

24

ARC - Turbo Tech

480

110-5

60,928

51,904

J u n

26

ARC Hypertronics

481

110-6

60,000

38,960

J u n

(select)

J u n

(select)

J u n

(select)

J u n

(select)

148448

Total (

Post Reference

110

112144

)

400

/(

(

500 120

)

)

/( )

- Feedback

SALES JOURNAL Post Ref.

Accounts Receivabl e

Ju 11 ARC - Jerry Technology n

478 110-3

17,920

15,200

Ju 17 ARC - Turbo Tech n

479 110-5

9,600

6,080

Ju 24 ARC - Turbo Tech n

480 110-5

60,928

51,904

Ju 26 ARC - Hypertronics n

481 110-6

60,000

38,960

148,448

112,144

Date

Total Post Reference

Account

Invoic e No.

Cost of Sales

(110)/(400) (500)/(120) (Q=812.purchasesJournalEndMonth)

PURCHASES JOURNAL Date

Account

Terms

Post Ref.

Accounts Payable

APC - Pear Technology

net 30

210-6

13,680

Ju n

16 APC - Big Telco

net 30

210-5

7,744

Ju n

17

APC - Moon Megasystems

2/10, n/30

210-1

13,080

Ju n

29 APC - Mega Tech

2/10, n/30

210-4

9,592

Ju n

8

Ju n

(select)

Ju n

(select)

Ju n

(select)

Ju n

(select)

44096

Total (

Post Reference

120

- Feedback

PURCHASES JOURNAL Date

210

Account

Terms

Post Ref.

Accounts Payable

Jun

8 APC - Pear Technology

net 30 210-6

13,680

Jun

1 APC - Big Telco 6

net 30 210-5

7,744

Jun

1 APC - Moon Megasystems 2/10, n/30 210-1 7

13,080

Jun

2 APC - Mega Tech 9

2/10, n/30 210-4

9,592

)

/( )

Total

44,096

Post Reference

(120)/(210) (Q=813.cashReceiptsJournalEndMonth)

CASH RECEIPTS JOURNAL Debit Date

Account

J u n

3

J u n

Post Ref.

Cash at Bank

ARC Turbo Tech

110-5

4,150

10

ARC Radio Hut

110-1

3,177

J u n

13

Sales Revenue

X

6,656

J u n

ARC 18 Hypertronic s

110-6

1,600

J u n

20

Sales Revenue

X

53,01 0

J u n

23

ARC - Jerry Technology

110-3

27,14 0

J u n

27

Sales Revenue

X

1,792

J u n

ARC 29 Handys Electronics

110-4

3,879

J u n

29

X

29,95 2

J u n

ARC 30 Hypertronic s

J u n

30

J u n

Sales Revenue

Interest Revenue

(select)

110-6 -1,600

403

396

Credit

Discount Sales Allowed Revenue

Account s Receiva ble

Cost of Sales Other Account s

4,150

353

3,530

6,656

5,120

1,600

53,010

36,480

27,140

1,792

1,520

3,879

29,952

24,704

-1,600

396

J u n

(select)

J u n

(select)

J u n

(select)

J u n

(select)

J u n

(select)

130,1 52

Total

353

91410

( Post Reference

(100)

573

( 400

)

38699

)

396

( 110

)

67824

(

(

500

X

) )

120

/( )

- Feedback

CASH RECEIPTS JOURNAL

Date

Account

Post Ref.

Debit

Credit

Discou Cash at nt Bank Allowed

Other Accounts Sales Revenu Receivabl Account s e e

Ju n

3 ARC - Turbo Tech

1105

4,150

Ju n

1 ARC - Radio Hut 0

1101

3,177

Ju n

1 Sales Revenue 3

X

6,656

Ju n

1 ARC - Hypertronics 8

1106

1,600

Ju n

2 Sales Revenue 0

Ju n

2 ARC - Jerry Technology 3

Ju n

2 Sales Revenue 7

X 53,010

4,150 353

3,530 6,656

1,792

5,120 1,600

53,010

11027,140 3 X

Cost of Sales

36,480 27,140

1,792

1,520

Ju n

2 ARC - Handys 9 Electronics

1104

Ju n

2 Sales Revenue 9

Ju n

3 ARC - Hypertronics 0

1106

-1,600

Ju n

3 Interest Revenue 0

403

396

3,879

3,879

X 29,952

130,15 2

Total Post reference

(100)

29,952

24,704 -1,600 396

353 91,410 (573)

(400)

38,699

396

67,824

(110)

(X)

(500)/ (120)

(Q=814.cashPaymentsJournalEndMonth)

CASH PAYMENTS JOURNAL Debit Date

Account

Chequ e No.

Post Ref.

Account s Payable

Inventor y

Credit

Wages Expense

Other Account s

Cash at Bank

J u n

1

Prepaid Rent

854

140

8,400

8,400

J u n

3

Electricity Payable

855

221

788

788

J u n

4

Wages Payable

856

220

7,429

13,26 4

J u n

5

Office Supplies

857

130

526

526

J u n

6

APC - Pear Technology

858

210-6

4,574

4,574

J u n

11 APC - Pony

859

210-2

3,373

3,339

J u n

11

Wages Expense

860

X

J u n

12

APC - Big Telco

861

210-5

4,541

4,541

J u n

APC - Moon 12 Megasyste ms

862

210-1

3,361

3,361

5,835

12,727

12,72 7

Discount Receive d

34

J u n

18

Wages Expense

863

X

J u n

APC - Moon 23 Megasyste ms

864

210-1

J u n

25

Wages Expense

865

X

J u n

29 Inventory

866

X

J u n

30

Salary Expense

867

545

5,200

5,200

J u n

30

Bank Charges

X

572

12

12

J u n

(select)

J u n

(select)

J u n

(select)

J u n

(select)

J u n

(select)

J u n

(select)

12,57 9

12,579

12,81 8

13,080

13,42 9

13,429

12,19 2

12,192

28929

12192

44570

22355

Total ( Post Reference

210

)

- Feedback

CASH PAYMENTS JOURNAL

( 120

)

262

( 516

)

107,7 50

296

(100)

402

( X

)

( )

Debit Date

Account

Cheq ue No.

Post Ref.

Accoun ts Payable

Invento ry

Credit

Wages Expen se

Other Accoun ts

Cash at Bank

Discou nt Receiv ed

Ju n

1 Prepaid Rent

854

140

8,400

8,400

Ju n

3 Electricity Payable

855

221

788

788

Ju n

4 Wages Payable

856

220

Ju n

5 Office Supplies

857

130

Ju n

6

APC - Pear Technology

858

2106

4,574

4,574

Ju 1 APC - Pony n 1

859

2102

3,373

3,339

Ju 1 Wages Expense n 1

860

X

Ju 1 APC - Big Telco n 2

861

2105

4,541

4,541

Ju 1 APC - Moon n 2 Megasystems

862

2101

3,361

3,361

Ju 1 Wages Expense n 8

863

X

Ju 2 APC - Moon n 3 Megasystems

864

2101

Ju 2 Wages Expense n 5

865

X

Ju 2 Inventory n 9

866

X

Ju 3 Salary Expense n 0

867

545

5,200

5,200

X

572

12

12

44,57 0

22,355

107,75 0

296

(516)

(X)

(100)

(402)

Ju 3 Bank Charges n 0 Total

5,835

526

12,72 7

526

12,579

13,080

12,818 13,42 9

(120)

262

13,429

12,192

(210)

34

12,727

12,57 9

28,929 12,192

Post reference

7,429 13,264

12,192

(Q=815-100.CashAtBank_endMonth)

Account: Cash at Bank Account No. 100 Date

Description

Ma 3 Balance y 0

Ref.

Debit

Credit

Balance 46,824 DR

Ju 3 Total from cash receipts n 0 journal

CRJ

Ju 3 Total from cash n 0 payments journal

CPJ

130,152

176,976 DR 107,750

69,226 DR

Ju 3 n 0

Ju 3 n 0

Ju 3 n 0 69226

Ju 3 Unadjusted Balance n 0

DR

- Feedback

Account: Cash at Bank Account No. 100 Date

Description

Ref.

Debit

Credit

Balance

May 30 Balance

46,824 DR

Jun 30 Total from cash receipts journal

CRJ

Jun 30 Total from cash payments journal

CPJ

130,152

176,976 DR 107,750

69,226 DR

Jun 30 Unadjusted Balance

69,226 DR (Q=815-110-0.ARControl_endMonth)

Account: ARC - Accounts Receivable Control Account No. 110 Date Ma y

Description

Ref.

Debit

Credit

Balance

3 Balance 0

30,465 DR

Ju 2 Sales return from Jerry n 0 Technology

3,584

26,881 DR 175329

Ju 3 n 0

Total from Sale

Ju 3 n 0

Total from cas

Ju 3 n 0

GJ

SJ

148448

0 DR 136630

CRJ

0

38699 DR

Ju 3 n 0

Ju n

136630

3 Unadjusted Balance 0

DR

- Feedback

Account: ARC - Accounts Receivable Control Account No. 110 Date

Description

Ref.

Debit

Credit

Balance

May 30 Balance

30,465 DR

Jun 20 Sales return from Jerry Technology

GJ

Jun 30 Total from sales journal

SJ

Jun 30 Total from cash receipts journal

3,584

26,881 DR

148,448

175,329 DR

CRJ

38,699

136,630 DR

Jun 30 Unadjusted Balance

136,630 DR (Q=815-120.Inventory_endMonth)

Account: Inventory Account No. 120 Date Ma y

Description

Ref.

Debit

Credit

3 Balance 0

Balance 237,832 DR

Ju 2 Sales return from Jerry n 0 Technology

GJ

Ju 2 Purchase return to Big n 8 Telco

GJ

3,040

240,872 DR 2,816

238,056 DR 125912

Ju 3 n 0

Total from sale

Ju 3 n 0

Total from pur

Ju 3 n 0

Total from cas

Ju 3 n 0

Total from cas

SJ

0

112144 DR 170008

PJ

44096

0 DR

102184 CRJ

0

67824 DR 114376

CPJ

12192

0 DR

Ju n

114376

3 Unadjusted Balance 0

DR

- Feedback

Account: Inventory Account No. 120 Date

Description

Ref.

Debit

Credit

Balance

Ma 30 Balance y

237,832 DR

Jun 20 Sales return from Jerry Technology

GJ

Jun 28 Purchase return to Big Telco

GJ

2,816

238,056 DR

Jun 30 Total from sales journal

SJ

112,144

125,912 DR

Jun 30 Total from purchases journal

PJ

Jun 30 Total from cash receipt...