Transactions - week 4 - Transactions week 4...

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Your progress Completed: 40% (approximately) Remaining pages will take: up to 12.5 hours The time frames we provide are a guide only. It may take you more or less time to complete each step. Your grading Your grading outcome (still in progress) Awarded Total Points (prior to this page) 460 460 Points (on this page) 35 37 Points ( after this page) 580 Total 495 1,077 Manual Accounting Practice Set Technology Boutique, 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. 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 23 Ordered 14 Mieca Camera Lenses from Mega Tech for $520 each, agreed terms with Mega Tech are 2/10, n/30. 24 Delivered 2 NR759 3D-HD Recorders to Hypertronics for $1,420 each, plus 5% sales tax, Invoice No. 251. These items were ordered on the 20 th . 25 Paid the full amount owing to JCN Electrical, Check No. 892. 26 Paid the full amount owing to Moon Megasystems, Check No. 893. Payment fell outside discount period. 26 Made cash sale of 48 BlueBerry Phones for $640 each plus 5% sales tax. 27 Paid sales staff wages of $12,575 for the week up to and including yesterday, Check No. 894. Instructions for week 4 Transactions - week 4 1 of 15 10/22/13 10:03 AM
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ARC - Hypertronics 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. 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. 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.
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