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Perdisco (MYOB Based) Practice Set Solution. Perdisco is an online test which assess the students ability. After reading this, you will learn how to record transactions in Perdisco. For more information, please contact at https://myassignmentguru.com

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manual accounting practice set glorious pants

Manual Accounting Practice Set

Glorious Pants, Australasian Edition 3

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Feedback: Bank reconciliation

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)

517

517

Points (on this page)

165

165

Points (after this page)

368

Total

682 1,050

 

 Completed:

51% (approximately)

 Remaining pages will take: up to 9.25 hours

The time frames we provide are a guide only. It may

take you more or less time to complete each step.

Now that you have finished recording all of the transactions for the month of June, you are required to prepare a bank

reconciliaton as at 30 June 2017.

The purpose of the bank reconciliation process is to reconcile the balance of cash shown in the company's ledger account against

the balance of cash reported in the bank statement.

Instructions for bank reconciliation

1)

Identify any reconciling items and record the relevant reconciling items in the appropriate journals. To do this, you will

need to use:

the previous month's bank reconciliation statement, and

the current month's bank statement

Note that the general journal is not provided on this page of the practice set because you are required to

use other journals to record those reconciling items.

When you enter items into the journals, if a cheque number is not required, you need to fill the appropriate input box with

an X.

2)

Post entries recorded in the journals to the appropriate ledger accounts according to the company's accounting policies

and procedures.

3)

Total the Cash at Bank columns in the special journals. Record the amount in the Total row of each journal. On this web

page, you are not required to total the rest of the columns in the special journals. You will total these columns and post

them to the ledger in the next stage of the practice set.

4)

Post the total of the Cash at Bank 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.

5)

Prepare the bank reconciliation statement as at 30 June 2017. The bank reconciliation statement provided below may

contain more rows than required.

All answers can be entered as positive or negative numbers as required.

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back on track functionality

Back­On­Track 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.

When completing the journals, if a cheque number is not required, you need to fill the appropriate input box with an X.

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.

Bank Reconciliation

Special Journals

Subsidiary Ledgers

General Ledger

Show All

Glorious Pants

Bank Reconciliation Statement

As at 30/06/2017

Balance as per bank statement:

85382 CR

Add:

 

17282

 

 

deposit in transit

 

12880

 

 

deposit in transit

 

 

 

 

 

 

 

 

Total

30162

 

 

115544 CR

 

Less:

No. 

628

3626

 

unpresented cheque

No. 

631

5300

 

unpresented cheque

No. 

 

 

No. 

 

 

Total

8926

 

Adjusted bank balance

106618 CR

 

Balance as per ledger account

106618 DR

 

   Feedback

Glorious Pants

Bank Reconciliation Statement as at 30/06/2017

Balance as per bank statement:

Add:

deposit in transit

deposit in transit

85,382 CR

 

17,282

12,880  

 

 

30,162

  115,544 CR

 

https://myassignmentguru.com

less unpresented cheque unpresented cheque

Less:

unpresented cheque

unpresented cheque

Adjusted bank balance

No. 628

No. 631

3,626

5,300  

 

 

8,926

106,618 CR

 

Balance as per ledger account

106,618 DR

 

 

(Q=801.cashJournalsBankRec)

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

Cost of

Sales

Post

Ref.

Date

Account

Discount

Allowed

Sales

Revenue

Accounts

Receivable

Other

Accounts

 

Cash at Bank

   

Jun

3 ARC ­ Quick Bolt Coffee

110­5

3,200

 

 

3,200

 

   

Jun 10 ARC ­ Revamp Coffee Carts

110­1

2,250

250

 

2,500

 

3,300  

Jun 12 Sales Revenue

X

6,160

 

6,160

 

 

   

Jun 17 ARC ­ Jandesh's Hot Spot

110­6

1,600

 

 

1,600

 

8,840  

Jun 19 Sales Revenue

X

12,960

 

12,960

 

 

   

Jun 22 ARC ­ Con's Coffee

110­3

17,282

 

 

17,282

 

13,600  

Jun 26 Sales Revenue

X

22,440

 

22,440

 

 

7,660  

Jun 29 Sales Revenue

X

12,880

 

12,880

 

 

   

Jun 30 ARC ­ KavaJava

110­4

3,283

 

 

3,283

 

Interest Revenue

Jun 30

403

556

0

0

0

556

0

ARC ­ Jandesh's Hot Spot

Jun 30

110­6

­1600

0

0

­1600

0

0

Jun 30

Jun 30

Jun 30

Jun 30

Total

81011 

 

 

 

 

   

   

Post Reference

(

100) 

 

 

 

 

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

No.

Post

Ref.

Date

Account

Accounts

Payable

Wages

Expense

Other

Accounts

Cash at

Bank

Discount

Received

 

Inventory

   

Jun

1 Prepaid Rent

618

140

 

 

 

8,200

8,200

   

Jun

2 APC ­ Brazil Imports Group

619

210­6

2,145

 

 

 

2,145

   

Jun

3 Electricity Payable

620

221

 

 

 

858

858

   

Jun

4 Wages Payable

621

220

 

 

1,054

1,143

2,197

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slide4

   

Jun

5 Office Supplies

622

130

 

 

 

452

452

29  

Jun 11 APC ­ Jordo Gourmet Coffee

623

210­2

2,900

 

 

 

2,871

   

Jun 11 Wages Expense

624

X

 

 

1,845

 

1,845

   

Jun 12 APC ­ Croup Coffee

625

210­5

2,216

 

 

 

2,216

   

Jun 14 APC ­ East Tangiers Cooperative

626

210­1

3,952

 

 

 

3,952

   

Jun 18 Wages Expense

627

X

 

 

1,856

 

1,856

74  

Jun 24 APC ­ East Tangiers Cooperative

628

210­1

3,700

 

 

 

3,626

   

Jun 25 Wages Expense

629

X

 

 

2,019

 

2,019

   

Jun 30 Inventory

630

X

 

2,880

 

 

2,880

   

Jun 30 Salary Expense

631

545

 

 

 

5,300

5,300

Bank Charges

Jun 30

X

572

0

0

0

11

11

0

Jun 30

Jun 30

Jun 30

Jun 30

Jun 30

Total

 

 

 

 

40428 

   

   

Post Reference

 

 

 

  (

100) 

   Feedback

CASH RECEIPTS JOURNAL

 

Debit

Credit

Post

Ref.

Cost of

Sales

Date

Account

Cash at

Bank

Discount

Allowed

Sales

Revenue

Accounts

Receivable

Other

Accounts

 

   

Jun

3 ARC ­ Quick Bolt Coffee

110­5

3,200

 

 

3,200

 

   

Jun 10 ARC ­ Revamp Coffee Carts

110­1

2,250

250

 

2,500

 

3,300  

Jun 12 Sales Revenue

X

6,160

 

6,160

 

 

   

Jun 17 ARC ­ Jandesh's Hot Spot

110­6

1,600

 

 

1,600

 

8,840  

Jun 19 Sales Revenue

X

12,960

 

12,960

 

 

   

Jun 22 ARC ­ Con's Coffee

110­3

17,282

 

 

17,282

 

13,600  

Jun 26 Sales Revenue

X

22,440

 

22,440

 

 

7,660  

Jun 29 Sales Revenue

X

12,880

 

12,880

 

 

   

Jun 30 ARC ­ KavaJava

110­4

3,283

 

 

3,283

 

   

Jun 30 ARC ­ Jandesh's Hot Spot

110­6

­1,600

 

 

­1,600

 

Jun 30 Interest Revenue

403

556

 

 

 

556

   

Total

81,011

 

 

 

 

   

   

Post reference

(100)

 

 

 

 

CASH PAYMENTS JOURNAL

 

Debit

Credit

Cheque

No.

Post

Ref.

Date

Account

Accounts

Payable

Wages

Expense

Other

Accounts

Cash at

Bank

Discount

Received

 

Inventory

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slide5

Jun

1 Prepaid Rent

618

140

 

 

 

8,200

8,200

   

   

Jun

2 APC ­ Brazil Imports Group

619 210­6

2,145

 

 

 

2,145

   

Jun

3 Electricity Payable

620

221

 

 

 

858

858

   

Jun

4 Wages Payable

621

220

 

 

1,054

1,143

2,197

   

Jun

5 Office Supplies

622

130

 

 

 

452

452

29  

Jun 11 APC ­ Jordo Gourmet Coffee

623 210­2

2,900

 

 

 

2,871

   

Jun 11 Wages Expense

624

X

 

 

1,845

 

1,845

   

Jun 12 APC ­ Croup Coffee

625 210­5

2,216

 

 

 

2,216

   

Jun 14 APC ­ East Tangiers Cooperative

626 210­1

3,952

 

 

 

3,952

   

Jun 18 Wages Expense

627

X

 

 

1,856

 

1,856

74  

Jun 24 APC ­ East Tangiers Cooperative

628 210­1

3,700

 

 

 

3,626

   

Jun 25 Wages Expense

629

X

 

 

2,019

 

2,019

   

Jun 30 Inventory

630

X

 

2,880

 

 

2,880

   

Jun 30 Salary Expense

631

545

 

 

 

5,300

5,300

Jun 30 Bank Charges

X

572

 

 

 

11

11

   

Total

 

 

 

 

40,428

   

   

Post reference

 

 

 

 

(100)

(Q=803­110­4.AcctsRec4_bankRec)

SUBSIDIARY LEDGERS

Account: ARC ­ KavaJava 

Account No. 110­4

 

Date

Description

Ref.

Debit

Credit

Balance

3,283 DR  

May

31 Balance

 

 

 

0  

Jun

30 Repayment

CRJ

 

3,283

Jun

30

 

   

Jun

30

 

   

Jun

30

 

   

   Feedback

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

(Q=803­110­6.AcctsRec6_bankRec)

Account: ARC ­ Jandesh's Hot Spot 

Account No. 110­6

 

Date

Description

Ref.

Debit

Credit

Balance

3,754 DR  

May

31 Balance

 

 

 

2,154 DR  

Jun

17 Repayment

CRJ

 

1,600

24,924 DR  

Jun

27 Credit sale

SJ

22,770

 

Jun

30

q

CRJ

1600

0

26524  DR

Jun

30

 

   

Jun

30

 

   

https://myassignmentguru.com

feedback

   Feedback

Account: ARC ­ Jandesh's Hot Spot 

Account No. 110­6

 

Date

Description

Ref.

Debit

Credit

Balance

3,754 DR  

May

31 Balance

 

 

 

2,154 DR  

Jun

17 Repayment

CRJ

 

1,600

24,924 DR  

Jun

27 Credit sale

SJ

22,770

 

26,524 DR  

Jun

30 Dishonoured cheque

CRJ

1,600

 

(Q=804­100.CashAtBank_bankRec)

GENERAL LEDGER

Account: Cash at Bank 

Account No. 100

 

Date

Description

Ref.

Debit

Credit

Balance

66,035 DR  

May

31 Balance

 

 

 

Jun

30

q

CRJ

81011

0

147046  DR

Jun

30

q

CPJ

0

40428

106618  DR

Jun

30

 

   

   Feedback

Account: Cash at Bank 

Account No. 100

 

Date

Description

Ref.

Debit

Credit

Balance

66,035 DR  

May

31 Balance

 

 

 

147,046 DR  

Jun

30 Total from cash receipts journal

CRJ

81,011

 

106,618 DR  

Jun

30 Total from cash payments journal

CPJ

 

40,428

(Q=804­110­0.ARControl_bankRec)

Account: ARC ­ Accounts Receivable Control 

Account No. 110

 

Date

Description

Ref.

Debit

Credit

Balance

29,205 DR  

May

31 Balance

 

 

 

26,235 DR  

Jun

21 Sales return from Con's Coffee

GJ

 

2,970

Jun

30

 

   

Jun

30

 

   

Jun

30

 

   

Jun

30

 

   

   Feedback

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

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q 804 201 interestpayable bankrec

(Q=804­201.InterestPayable_bankRec)

Account: Interest Payable 

Account No. 225

 

Date

Description

Ref.

Debit

Credit

Balance

225 CR  

May

31 Balance

 

 

 

Jun

30

 

   

Jun

30

 

   

Jun

30

 

   

   Feedback

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

(Q=804­403.InterestRevenue_bankRec)

Account: Interest Revenue 

Account No. 403

 

Date

Description

Ref.

Debit

Credit

Balance

0  

May

31 Balance

 

 

 

Jun

30

q

CRJ

0

556

556  CR

Jun

30

 

   

Jun

30

 

   

   Feedback

Account: Interest Revenue 

Account No. 403

 

Date

Description

Ref.

Debit

Credit

Balance

0  

May

31 Balance

 

 

 

556 CR  

Jun

30 Interest received from the bank

CRJ

 

556

(Q=804­571.InterestExpense_bankRec)

Account: Interest Expense 

Account No. 571

 

Date

Description

Ref.

Debit

Credit

Balance

0  

May

31 Balance

 

 

 

Jun

30

 

   

Jun

30

 

   

Jun

30

 

   

   Feedback

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

(Q=804­572.BankCharges_bankRec)

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account bank charges account no 572

Account: Bank Charges 

Account No. 572

 

Date

Description

Ref.

Debit

Credit

Balance

0  

May

31 Balance

 

 

 

Jun

30

q

CPJ

11

0

11  DR

Jun

30

 

   

Jun

30

 

   

   Feedback

Account: Bank Charges 

Account No. 572

 

Date

Description

Ref.

Debit

Credit

Balance

0  

May

31 Balance

 

 

 

11 DR  

Jun

30 Transaction fee

CPJ

11

 

Manual Accounting Practice Set

Glorious Pants, Australasian Edition 3 (VSA3q)

© 2009 ­ 2014 Perdisco / latin /. v., learn thoroughly

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