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Unformatted text preview: Transactions - week 5 http://www.perdisco.com/elms/qsam/html/qsam.aspx 1 of 7 5/9/2008 5:42 PM Navigation map You have currently completed approximately 38% of your Accounting Practice Set. We estimate that it may take you up to a further 12.5 hours of study time to complete this and the remaining Practice Set pages. This page of the Accounting Practice Set could take you up to 1 hour of study time to complete. These time frames are a guide only. It may take you more or less time to complete each step. Additional information To answer this question you may need the following information: Background information Trial balance Transactions list - week 5 Schedules of accounts payable/receivable Original information The information in the above links comes from the 'Overview' and 'Further information' pages at the beginning of the practice set. If Transactions - week 5 This practice set continues over multiple pages. Saving your position. If you want to save this practice set where you are up to and come back to it at a later time, click the bookmark button on this page to save your position and be returned to your home page. To re-enter the practice set at this page at a later time, simply click the link that you originally clicked to access this practice set. Please note that any answers you have entered on the bookmarked page are not kept with your bookmark. When you are ready, enter your answers and click submit answers . You will receive immediate feedback to everything you have attempted. You cannot go backwards once you have submitted a page. Instructions for week 5 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. The following are to be posted to ledger accounts daily: All entries affecting subsidiary ledgers All entries in the Other Accounts column of the cash receipts and cash payments journals All transactions entered into the general journal. 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. Update inventory cards on a daily basis. Please note that any answers from previous pages carried through onto this page (either on the page or in a popup information page) are the correct answers, not your particular answers. Remember to 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 at bank amount, subtract the discount from the original amount....
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- Three '09
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