1) The transactions that occurred in the second week of June are recorded in the appropriate special journals (sales journal, cash receipts journal, cash payments journal) and general journal.
2) The journal entries are then posted to the relevant ledger accounts (accounts receivable ledgers, cash ledger, etc.).
3) Key transactions include a sales return from SloZone, payment received from Jandesh's Hot Spot, and payment made to Jordo Gourmet Coffee.
The document provides transactions that occurred in week 3 of June for Glorious Pants. It includes instructions to record the transactions in relevant journals such as sales, cash receipts, cash payments, and general journals. It also includes instructions to post the journal entries to ledger accounts. The transactions include a sale to KavaJava, payment of wages, payment received from SloZone and Revamp Coffee Carts, cash sales, return of faulty products to Croup Coffee, and a sales order to Revamp Coffee Carts.
1) The document provides transactions that occurred during the fourth week of June for Glorious Pants, including payments to suppliers, sales of goods to customers, and cash receipts.
2) The user is asked to record the week 4 transactions in the appropriate special journals (sales journal, purchases journal, cash receipts journal, cash payments journal) and general journal.
3) The user is then to post the journal entries to the relevant ledger accounts and general ledger according to the company's accounting policies.
1. Various transactions occurred during the first week of June, including purchases, sales, cash receipts, and cash payments.
2. The transactions were recorded in the appropriate special journals (purchases, sales, cash receipts, and cash payments journals).
3. The journal entries were then posted to the relevant ledger accounts, including accounts receivable, accounts payable, purchases, sales, cash, and loan payable accounts.
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
Transactions that occurred during the final week of June were recorded in the relevant journals and ledgers. This included receiving goods from Dominga Wholesalers on credit terms of 2/10, n/30, paying wages and salary expenses, and Quick Bolt Coffee paying their outstanding balance in full. All journal entries were posted to the appropriate ledger accounts.
1) The document discusses the various books used in accounting such as books of original entry like purchases journal, sales journal, cash book, and general journal. It also discusses books of final entry like the ledger.
2) It explains key accounting concepts like capital and revenue expenditures, adjustments, trial balance, and control accounts.
3) Partnership accounting is covered including the key accounts prepared like trading account, profit and loss account, current accounts and capital accounts.
The document discusses the double entry system of accounting. It explains that every transaction has two aspects - debit and credit. Transactions are recorded in accounting books under the double entry system. The dual aspect of each transaction can be analyzed using the accounting equation approach or traditional approach. The traditional approach classifies accounts into personal, real and nominal accounts and provides rules for debiting and crediting each type of account. The document also discusses journals, which are used to initially record transactions chronologically before posting to ledgers.
The document provides transactions that occurred in week 3 of June for Glorious Pants. It includes instructions to record the transactions in relevant journals such as sales, cash receipts, cash payments, and general journals. It also includes instructions to post the journal entries to ledger accounts. The transactions include a sale to KavaJava, payment of wages, payment received from SloZone and Revamp Coffee Carts, cash sales, return of faulty products to Croup Coffee, and a sales order to Revamp Coffee Carts.
1) The document provides transactions that occurred during the fourth week of June for Glorious Pants, including payments to suppliers, sales of goods to customers, and cash receipts.
2) The user is asked to record the week 4 transactions in the appropriate special journals (sales journal, purchases journal, cash receipts journal, cash payments journal) and general journal.
3) The user is then to post the journal entries to the relevant ledger accounts and general ledger according to the company's accounting policies.
1. Various transactions occurred during the first week of June, including purchases, sales, cash receipts, and cash payments.
2. The transactions were recorded in the appropriate special journals (purchases, sales, cash receipts, and cash payments journals).
3. The journal entries were then posted to the relevant ledger accounts, including accounts receivable, accounts payable, purchases, sales, cash, and loan payable accounts.
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
Transactions that occurred during the final week of June were recorded in the relevant journals and ledgers. This included receiving goods from Dominga Wholesalers on credit terms of 2/10, n/30, paying wages and salary expenses, and Quick Bolt Coffee paying their outstanding balance in full. All journal entries were posted to the appropriate ledger accounts.
1) The document discusses the various books used in accounting such as books of original entry like purchases journal, sales journal, cash book, and general journal. It also discusses books of final entry like the ledger.
2) It explains key accounting concepts like capital and revenue expenditures, adjustments, trial balance, and control accounts.
3) Partnership accounting is covered including the key accounts prepared like trading account, profit and loss account, current accounts and capital accounts.
The document discusses the double entry system of accounting. It explains that every transaction has two aspects - debit and credit. Transactions are recorded in accounting books under the double entry system. The dual aspect of each transaction can be analyzed using the accounting equation approach or traditional approach. The traditional approach classifies accounts into personal, real and nominal accounts and provides rules for debiting and crediting each type of account. The document also discusses journals, which are used to initially record transactions chronologically before posting to ledgers.
The accounting cycle involves recording business transactions, preparing financial statements, and closing books at the end of each accounting period. It is based on key assumptions and principles including:
1) Transactions are recorded based on the accrual concept, which matches revenues to expenses in the period they are incurred regardless of when cash is received or paid.
2) Financial statements are prepared at the end of each period using the adjusted trial balance to provide an accurate picture of the company's financial position and performance.
3) The accounting equation (Assets = Liabilities + Equity) must always balance through double-entry bookkeeping, where every transaction has equal and offsetting debits and credits.
The document discusses the accounting cycle and provides examples of classifying accounts, journalizing transactions, preparing ledger accounts, and posting journal entries to the ledger. It begins by classifying various accounts as personal, real, or nominal. Examples are then provided of journalizing transactions and posting the journal entries to update the appropriate ledger accounts. The key steps in journalizing, preparing ledger accounts, and posting entries from the journal to the ledger are outlined. Compound or combined journal entries involving multiple debits and/or credits are also introduced.
This document provides guidance on financial management systems for NGOs receiving grants from the Bristol-Myers Squibb Foundation Community Outreach and Education Fund. It includes sections on accounting policies and procedures, the general ledger, cash management, budgeting, and other financial topics. The guidance was compiled based on lessons learned from partner organizations in Southern and Eastern Africa to help NGOs strengthen their financial management and reporting capabilities in a simple, accessible format.
Accounts project on Ledger and Trial BalanceYash Trivedi
A ledger is an accounting book that records journal entries in individual accounts in chronological order. There are three main types of ledgers: the purchase ledger, which records supplier accounts and purchases; the sales ledger, which records customer accounts and sales; and the general ledger, which organizes transactions from all journals. A trial balance is a worksheet that compiles the debit and credit balances of all ledger accounts to check that the accounting entries are mathematically correct. An unbalanced trial balance indicates there is an error in the accounting process, while a balanced trial balance means the debit and credit totals match.
Physical Stock Voucher is used for recording the actual stock which is verified or counted. It could happen that the Book Stocks and the Physical Stock do not match. It is not unusual that the company finds a discrepancy between actual stock and computer stock figure.
This document provides terminology and templates for preparing financial statements according to international standards. It includes templates for income statements, statements of financial position, and manufacturing accounts for sole proprietorships, partnerships, and limited companies. Key sections and accounts are defined, such as appropriation accounts, receipts and payments accounts, and trading versus non-trading organizations. Template line items and account headings are explained.
The accounting cycle is a series of steps repeated every reporting period to record business transactions and close the books. It involves recording transactions in daybooks, posting to ledgers, extracting a trial balance, and drawing up financial statements. Transactions are first recorded in daybooks like sales, purchases, cash according to their nature. These are then posted to ledgers including the sales, purchases, and general ledgers. A trial balance is then extracted from ledger balances to check the double entry system. Finally, closing entries are made to transfer income and expense accounts to the profit and loss statement.
This document describes different types of cash books used to record cash transactions. A cash book is a book of primary entry that records all cash receipts on the debit side and cash payments on the credit side. It serves as both a journal and ledger for the cash account. The key types discussed are simple, double-column, and triple-column cash books. A simple cash book records cash transactions in one column, while double-column and triple-column cash books record cash and additional accounts like discounts or bank in multiple columns. Petty cash books are also mentioned for recording small expenses.
Cambridge A Level
Cambridge O Level
Accounting
9706
Differences between a club and a company
Difference between capital and accumulated fund
Terms used in a club and a profit making business
Differences between the financial statements of a not for profit organisation and a limited company or another profit oriented business like sole trader and partnerships
Reason to capitalize the donations received
Reasons to not to give dividends to members
Differences between the donation and subscription
Subscription calculation using the account or equation
Differences between receipts and payments account and income and expenditure account
All the important theories for a level students under clubs and societies final account
Control Accounts
Cambridge O Level
Cambridge IGCSE
Accounting
7110
7707
Control Accounts all the theories, past paper questions , model papers short notes
Control accounts the account which represents a particular sub ledger, sales ledger and purchases ledger control accounts.
At the end of an accounting period the accounts are balanced off and a trial balance prepared to check the accuracy of the book keeping entries. If a trial balance fails to balance this usually indicates that an error or errors may have been made and needs to be identified. As the business expands the accounting requirements increase which may lead to more errors occurring which are very difficult to find.
This document contains 74 multiple choice questions related to the topic of financial accounting and accounting for consignment. Specifically, it covers topics such as current assets, intangible assets, liabilities, journals, ledgers, trading accounts, profit and loss statements, balance sheets, accounting standards, and the accounting treatment of various consignment transactions from the perspective of both the consignor and consignee. The questions are designed to test the reader's understanding of key accounting concepts and how to record common consignment business transactions according to accounting principles.
Cambridge O level
Accounting
Principles of Accounting
7110
7707
Correction of Errors
Correction of Accounting errors
with Past papers and model papers
by
Sanjaya Jayasundara
Wtzapp: +94712545001
The document provides definitions and explanations for various accounting terms and concepts. It distinguishes between assets and liabilities, current and non-current liabilities, capital and revenue expenditures, and income statements and balance sheets. It also defines accounting terms like depreciation, bad debts, accrued expenses, and cash versus trade discounts. The document is intended as a study guide for an accounting exam by providing clear summaries of key accounting principles and terminology.
Advanced fi functions calculating interestGuangfuDavidLi
1) The document discusses configuring and calculating interest for open items, customers, and vendors in SAP GL.
2) It provides steps for configuring account, customer, and vendor interest calculation types and rates, as well as instructions for making postings, running interest calculation programs, and verifying results.
3) Configuration is done using transaction codes OB46, OBAA, OBAC, OB81, OB83, OB85, OBV2, FD01, FK01, and posting and calculation is done using FB50, FB60, FB70, F.52, F.24, F.47.
The document outlines the steps for completing incomplete accounting records:
1) Prepare an opening statement of affairs with headings like assets, liabilities, capital.
2) Set up control accounts for debtors, creditors, cash, and the bank account.
3) Insert available figures and calculate any missing values, like gross profit or fixed assets.
4) Draft the required statements, including profit and loss, balance sheet.
Accounts payable notes provide definitions and explanations of key concepts related to vendor invoice processing and payment in SAP. This includes defining accounts payable, purchase orders, vendor master data, invoice posting, payment methods, and the automatic payment program (APP). The APP allows for automated multiple vendor payments and printing of remittance documents. Maintaining accurate vendor records and timely payments are important parts of managing cash flow and vendor relationships in SAP.
Control account is an account which maintains in the general ledger to represent a particular subsidiary ledger. There are two control accounts. 1 Sales Ledger Control account 2 Purchases Ledger Control Account
Principal accounting - Ch05 accounting system and internal controlArfan Fahmi
1. The document discusses accounting systems and internal controls. It defines accounting systems and their implementation, lists the three objectives of internal control and five elements of internal control.
2. It provides examples of transactions recorded in journals for a manual accounting system, including the revenue journal, cash receipts journal, and general ledger.
3. The document demonstrates how transactions are journalized, posted to subsidiary ledgers, and totaled at the end of the period before being posted to the general ledger.
The accounting cycle involves recording business transactions, preparing financial statements, and closing books at the end of each accounting period. It is based on key assumptions and principles including:
1) Transactions are recorded based on the accrual concept, which matches revenues to expenses in the period they are incurred regardless of when cash is received or paid.
2) Financial statements are prepared at the end of each period using the adjusted trial balance to provide an accurate picture of the company's financial position and performance.
3) The accounting equation (Assets = Liabilities + Equity) must always balance through double-entry bookkeeping, where every transaction has equal and offsetting debits and credits.
The document discusses the accounting cycle and provides examples of classifying accounts, journalizing transactions, preparing ledger accounts, and posting journal entries to the ledger. It begins by classifying various accounts as personal, real, or nominal. Examples are then provided of journalizing transactions and posting the journal entries to update the appropriate ledger accounts. The key steps in journalizing, preparing ledger accounts, and posting entries from the journal to the ledger are outlined. Compound or combined journal entries involving multiple debits and/or credits are also introduced.
This document provides guidance on financial management systems for NGOs receiving grants from the Bristol-Myers Squibb Foundation Community Outreach and Education Fund. It includes sections on accounting policies and procedures, the general ledger, cash management, budgeting, and other financial topics. The guidance was compiled based on lessons learned from partner organizations in Southern and Eastern Africa to help NGOs strengthen their financial management and reporting capabilities in a simple, accessible format.
Accounts project on Ledger and Trial BalanceYash Trivedi
A ledger is an accounting book that records journal entries in individual accounts in chronological order. There are three main types of ledgers: the purchase ledger, which records supplier accounts and purchases; the sales ledger, which records customer accounts and sales; and the general ledger, which organizes transactions from all journals. A trial balance is a worksheet that compiles the debit and credit balances of all ledger accounts to check that the accounting entries are mathematically correct. An unbalanced trial balance indicates there is an error in the accounting process, while a balanced trial balance means the debit and credit totals match.
Physical Stock Voucher is used for recording the actual stock which is verified or counted. It could happen that the Book Stocks and the Physical Stock do not match. It is not unusual that the company finds a discrepancy between actual stock and computer stock figure.
This document provides terminology and templates for preparing financial statements according to international standards. It includes templates for income statements, statements of financial position, and manufacturing accounts for sole proprietorships, partnerships, and limited companies. Key sections and accounts are defined, such as appropriation accounts, receipts and payments accounts, and trading versus non-trading organizations. Template line items and account headings are explained.
The accounting cycle is a series of steps repeated every reporting period to record business transactions and close the books. It involves recording transactions in daybooks, posting to ledgers, extracting a trial balance, and drawing up financial statements. Transactions are first recorded in daybooks like sales, purchases, cash according to their nature. These are then posted to ledgers including the sales, purchases, and general ledgers. A trial balance is then extracted from ledger balances to check the double entry system. Finally, closing entries are made to transfer income and expense accounts to the profit and loss statement.
This document describes different types of cash books used to record cash transactions. A cash book is a book of primary entry that records all cash receipts on the debit side and cash payments on the credit side. It serves as both a journal and ledger for the cash account. The key types discussed are simple, double-column, and triple-column cash books. A simple cash book records cash transactions in one column, while double-column and triple-column cash books record cash and additional accounts like discounts or bank in multiple columns. Petty cash books are also mentioned for recording small expenses.
Cambridge A Level
Cambridge O Level
Accounting
9706
Differences between a club and a company
Difference between capital and accumulated fund
Terms used in a club and a profit making business
Differences between the financial statements of a not for profit organisation and a limited company or another profit oriented business like sole trader and partnerships
Reason to capitalize the donations received
Reasons to not to give dividends to members
Differences between the donation and subscription
Subscription calculation using the account or equation
Differences between receipts and payments account and income and expenditure account
All the important theories for a level students under clubs and societies final account
Control Accounts
Cambridge O Level
Cambridge IGCSE
Accounting
7110
7707
Control Accounts all the theories, past paper questions , model papers short notes
Control accounts the account which represents a particular sub ledger, sales ledger and purchases ledger control accounts.
At the end of an accounting period the accounts are balanced off and a trial balance prepared to check the accuracy of the book keeping entries. If a trial balance fails to balance this usually indicates that an error or errors may have been made and needs to be identified. As the business expands the accounting requirements increase which may lead to more errors occurring which are very difficult to find.
This document contains 74 multiple choice questions related to the topic of financial accounting and accounting for consignment. Specifically, it covers topics such as current assets, intangible assets, liabilities, journals, ledgers, trading accounts, profit and loss statements, balance sheets, accounting standards, and the accounting treatment of various consignment transactions from the perspective of both the consignor and consignee. The questions are designed to test the reader's understanding of key accounting concepts and how to record common consignment business transactions according to accounting principles.
Cambridge O level
Accounting
Principles of Accounting
7110
7707
Correction of Errors
Correction of Accounting errors
with Past papers and model papers
by
Sanjaya Jayasundara
Wtzapp: +94712545001
The document provides definitions and explanations for various accounting terms and concepts. It distinguishes between assets and liabilities, current and non-current liabilities, capital and revenue expenditures, and income statements and balance sheets. It also defines accounting terms like depreciation, bad debts, accrued expenses, and cash versus trade discounts. The document is intended as a study guide for an accounting exam by providing clear summaries of key accounting principles and terminology.
Advanced fi functions calculating interestGuangfuDavidLi
1) The document discusses configuring and calculating interest for open items, customers, and vendors in SAP GL.
2) It provides steps for configuring account, customer, and vendor interest calculation types and rates, as well as instructions for making postings, running interest calculation programs, and verifying results.
3) Configuration is done using transaction codes OB46, OBAA, OBAC, OB81, OB83, OB85, OBV2, FD01, FK01, and posting and calculation is done using FB50, FB60, FB70, F.52, F.24, F.47.
The document outlines the steps for completing incomplete accounting records:
1) Prepare an opening statement of affairs with headings like assets, liabilities, capital.
2) Set up control accounts for debtors, creditors, cash, and the bank account.
3) Insert available figures and calculate any missing values, like gross profit or fixed assets.
4) Draft the required statements, including profit and loss, balance sheet.
Accounts payable notes provide definitions and explanations of key concepts related to vendor invoice processing and payment in SAP. This includes defining accounts payable, purchase orders, vendor master data, invoice posting, payment methods, and the automatic payment program (APP). The APP allows for automated multiple vendor payments and printing of remittance documents. Maintaining accurate vendor records and timely payments are important parts of managing cash flow and vendor relationships in SAP.
Control account is an account which maintains in the general ledger to represent a particular subsidiary ledger. There are two control accounts. 1 Sales Ledger Control account 2 Purchases Ledger Control Account
Principal accounting - Ch05 accounting system and internal controlArfan Fahmi
1. The document discusses accounting systems and internal controls. It defines accounting systems and their implementation, lists the three objectives of internal control and five elements of internal control.
2. It provides examples of transactions recorded in journals for a manual accounting system, including the revenue journal, cash receipts journal, and general ledger.
3. The document demonstrates how transactions are journalized, posted to subsidiary ledgers, and totaled at the end of the period before being posted to the general ledger.
1) Edward's Electrical Goods records transactions for June 2017, including sales, purchases, cash receipts and payments. Adjusting entries are made for depreciation, prepaid expenses, inventory count, bad debts and accrued expenses.
2) Financial statements are prepared from the adjusted trial balance, including an income statement, statement of changes in equity, and balance sheet.
3) Subsidiary ledgers for accounts receivable and payable are completed and balances agree to control accounts. Closing entries are made and a post-closing trial balance is prepared.
presentation slide on Accounting General ledger & trial balanceDaySpring Limited
This presentation discusses the general ledger, trial balance, and their purpose and process. The general ledger contains all balance sheet accounts and records transactions through debits and credits. A trial balance is created by summing the balances of each ledger account and comparing total debits to total credits to check for errors. An example transaction is provided to demonstrate preparing ledger accounts and a trial balance.
Accounting general ledger and trail balance presentation slide DaySpring Limited
This document provides an overview of general ledgers, trial balances, and the accounting process. It defines general ledgers and trial balances, explains how to prepare ledger accounts and post transactions, and describes how an unbalanced or balanced trial balance can indicate errors in the accounting process. Examples are provided to illustrate key concepts like preparing a trial balance and detecting errors.
This document provides the job description and work procedures for Ayman Al Bitar in his role as an Accountant in the Accounting Department of Masharea Al Khier company. It outlines his main responsibilities which include posting purchase orders and vendor transactions, preparing tax reports, performing vendor and inventory reconciliations, generating various reports on established deadlines, and ensuring all transactions are recorded for the previous month. The document also specifies the system modules and functions he has access to and warns that delays in meeting report deadlines will result in warnings and potential disciplinary action.
This document is a bank statement for the account of Liberia Rebuild Global Team. It shows transactions between October 1 and October 31, including deposits totaling $395.25, withdrawals of $150, and an ending balance of $3,182.28. It provides contact information for the account holder to ask questions or conduct other bank business. General policies are outlined on maintaining accurate records and calculating account balances.
FINANCIAL ACCOUNTING – ACCT1101 Group Assignment (Semester.docxAKHIL969626
FINANCIAL ACCOUNTING – ACCT1101
Group Assignment (Semester 1, 2017)
REQUIRED:
(1) Complete the Edward's Electrical Goods Pty Ltd Accounting Practice Set online on
LMS as per the general instructions.
(2) Once you have completed the accounts as per the Accounting Practice Set, discuss
which parts of the Accounting cycle process could have been completed automatically by
using a computer software package such as ACCPAC or QuickBooks. Your answer should
make reference to any specific documents or statements found in Edward's Electrical
Goods Pty Ltd accounts where this occurs.
As the firm is interested in developing an Accounting system in the near future, explain to
Edward Wright (the Managing Director of the company), the important phases in
implementing and maintaining an Accounting system and the factors that need to be
considered when developing such a system.
Your discussion of the above statements should in total be no more than 800 words in
length. (Show all references used).
Please complete your discussion in the WRITTEN COMPONENT section on LMS.
* Requirements (1) and (2) need to be completed o n l i n e o n L M S and b e submitted
no later than Monday 15th May, 2017, by 12.00 noon. [Only one online submission
per Group is required. The aggregate marks allocated to requirements (1) and (2)
are 15% in total.]
Long-Term Investment Decisions
Assume that the low-calorie frozen, microwavable food company from Assignments 1 and 2 wants to expand and has to make some long-term capital budgeting decisions. The company is currently facing increases in the costs of major ingredients.
Use the Internet research government policies and regulation.
Write a six to eight (6-8) page paper in which you:
1. Outline a plan that managers in the low-calorie, frozen microwaveable food company could follow in anticipation of raising prices when selecting pricing strategies for making their products response to a change in price less elastic. Provide a rationale for your response.
2. Examine the major effects that government policies have on production and employment. Predict the potential effects that government policies could have on your company.
3. Determine whether or not government regulation to ensure fairness in the low-calorie, frozen microwavable food industry is needed. Cite the major reasons for government involvement in a market economy. Provide two (2) examples of government involvement in a similar market economy to support your response.
4. Examine the major complexities that would arise under expansion via capital projects. Propose key actions that the company could take in order to prevent or address these complexities.
5. Suggest the substantive manner in which the company could create a convergence between the interests of stockholders and managers. Indicate the most likely impact to profitability of such a convergence. Provide two (2) examples of instances that support your res ...
This document provides an overview of accounting concepts including the accounting cycle, T-accounts, trial balance, adjusting entries, and closing entries. It explains the steps in the accounting cycle as transactions are recorded in journals and ledgers, trial balances are prepared, adjusting entries are made, and financial statements are produced. T-accounts are introduced as the format for recording debits and credits to general ledger accounts. The roles of the trial balance, adjusting entries, and closing entries in preparing accurate financial statements are also summarized.
The PPT about GSTR-1 , How to filling GSTRR-1 Step by Step all Details here by CA Sanjiv Nanda. .
Mostly people is confused how to file GSTR-1 so this PPT help That people .
In Preparation for 2020 this slide deck has information on:
-Fiscal Year-End Close Process
Create Fiscal Year Reporting Periods
1099 Preparation and Processing
The document provides information about accounting principles and accounting information systems. It discusses the principles of an efficient and effective accounting information system, including that the system must be relevant, reliable, accurate, and timely. It also discusses the phases in developing an accounting system, including planning, design, implementation, and follow up. Finally, it provides examples of journals used in accounting information systems, including sales journals, cash receipts journals, purchases journals, and cash payments journals.
This document describes how to analyze goods receipt/invoice receipt (GR/IR) clearing accounts in SAP at a specified key date to generate adjustment postings if necessary. The transaction selects open items in GR/IR clearing accounts and creates adjustment postings in a batch input session if the open items do not balance out to zero per purchase order and item. This ensures goods delivered but not invoiced and goods invoiced but not delivered are displayed correctly in financial statements. The example provided prepares a clearing for GR/IR balances at June 30, 2002 by generating adjustment postings with a specified document date and posting period.
This document summarizes a presentation about fixing errors in financial documents and transactions in Microsoft Dynamics SL. The presentation covers topics like accounts receivable, accounts payable, cash manager, general ledger, and how to be proactive in setting up processes to prevent and correct errors. It provides guidance on reversing payments, writing off balances, refunds to customers, and correcting discrepancies between the general ledger and other modules.
This audit report summarizes audits of various departments at San Antonio Resort from 2021. Key findings include fixed asset counts totaling over $132 million across properties owned by SAR and its affiliates. Cash counts were performed for revolving funds and petty cash with some minor overages and shortages noted. Food and beverage costs are recommended to be reduced to 40% with improved monitoring of spoilage and breakages. The report recommends implementing new systems like a POS system, payroll system, and training on existing systems like Folio Plus, Google Sheets and MYOB to improve operations and compliance.
- Two major books of accounts are the journal and ledger. The journal records transactions in chronological order while the ledger summarizes journal entries and is used to prepare financial statements.
- There are general and special journals. The general journal records all transactions while special journals are used for specific, recurring transactions like cash, sales, purchases.
- The general ledger summarizes all account activities and subsidiary ledgers contain detailed records of general ledger accounts.
This document discusses various aspects of fixed assets in SAP Business One. It begins by explaining how to enable the fixed assets solution in SAP Business One. It then discusses the life cycle of an asset master data record, including definition, activation through capitalization, depreciation, adjustments, and retirement. Key windows for asset master data, capitalization, depreciation, and retirement are shown. The document also discusses virtual fixed assets and how they can be used to capitalize identical assets in large quantities. It concludes by mentioning the asset depreciation forecast report, which simulates future depreciation for planning purposes.
The document provides instructions for a course project involving completing the accounting cycle for a new small business called Rawls Repair Corporation. It includes a list of October transactions, a chart of accounts, and 10 requirements to journalize transactions, prepare trial balances and financial statements, record adjusting and closing entries, and prepare a post-closing trial balance. Completing the project involves using the general journal, T-accounts, and financial statements templates provided.
The document provides instructions for a course project involving completing the accounting cycle for a new small business called Rawls Repair Corporation. It includes a list of October transactions, a chart of accounts, and 10 requirements to journalize transactions, prepare trial balances and financial statements, record adjusting and closing entries, and prepare a post-closing trial balance. Completing the project involves using the accounting equation and properly applying debits and credits throughout the steps of the accounting cycle.
The document provides instructions for a course project involving completing the accounting cycle for a new small business called Rawls Repair Corporation. It includes a list of October transactions, a chart of accounts, and 10 requirements to journalize transactions, prepare trial balances and financial statements, record adjusting and closing entries, and prepare a post-closing trial balance. Completing the project involves using the general journal, T-accounts, and financial statements templates provided.
Similar to Perdisco Solution - Transactions - week 2 (20)
A workshop hosted by the South African Journal of Science aimed at postgraduate students and early career researchers with little or no experience in writing and publishing journal articles.
Executive Directors Chat Leveraging AI for Diversity, Equity, and InclusionTechSoup
Let’s explore the intersection of technology and equity in the final session of our DEI series. Discover how AI tools, like ChatGPT, can be used to support and enhance your nonprofit's DEI initiatives. Participants will gain insights into practical AI applications and get tips for leveraging technology to advance their DEI goals.
This slide is special for master students (MIBS & MIFB) in UUM. Also useful for readers who are interested in the topic of contemporary Islamic banking.
How to Build a Module in Odoo 17 Using the Scaffold MethodCeline George
Odoo provides an option for creating a module by using a single line command. By using this command the user can make a whole structure of a module. It is very easy for a beginner to make a module. There is no need to make each file manually. This slide will show how to create a module using the scaffold method.
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
Physiology and chemistry of skin and pigmentation, hairs, scalp, lips and nail, Cleansing cream, Lotions, Face powders, Face packs, Lipsticks, Bath products, soaps and baby product,
Preparation and standardization of the following : Tonic, Bleaches, Dentifrices and Mouth washes & Tooth Pastes, Cosmetics for Nails.
বাংলাদেশের অর্থনৈতিক সমীক্ষা ২০২৪ [Bangladesh Economic Review 2024 Bangla.pdf] কম্পিউটার , ট্যাব ও স্মার্ট ফোন ভার্সন সহ সম্পূর্ণ বাংলা ই-বুক বা pdf বই " সুচিপত্র ...বুকমার্ক মেনু 🔖 ও হাইপার লিংক মেনু 📝👆 যুক্ত ..
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বাংলাদেশ অর্থনৈতিক সমীক্ষা (Economic Review) ২০২৪ UJS App.pdf
Perdisco Solution - Transactions - week 2
1. 2/19/2020 Transactions - week 2
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Manual Accounting Practice Set
Glorious Pants, US GAAP Edition 3
Feedback: Transactions - week 2
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 instructed to record transactions that occurred throughout the second week of June into the company's
books. The week 2 transactions are listed below:
Week 2
Date Transaction description
8 Paid the full amount owing to Jordo Gourmet Coffee, Check No. 606.
9 Jandesh's Hot Spot paid the full amount owing on their account. Since Jandesh's Hot Spot has been a loyal
customer from the day the business commenced, a 5% discount was given for this early repayment.
10 Sold 2 bags of Chocolate Coated Coffee Beans to Revamp Coffee Carts for $1,730 each, Invoice No. 202.
10 Made cash sales of $11,275 during the week.
10 SloZone returned $379 worth of product. Issued a Credit Memorandum for $379.
Instructions for week 2
Record all week 2 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.
1)
2)
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2. 2/19/2020 Transactions - week 2
https://www.perdisco.com/elms/qsam/html/qsam.aspx 2/11
ARC - Revamp Coffee Carts
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 do this before you prepare the Bank Reconciliation Statement.
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:
Each transaction recorded in a special journal must be entered in one line. In order to receive full points, you must
not split up the relevant transaction into more than one line in the special journal.
You are required 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 amount, subtract
the discount from the original amount.
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.
You are also required to apply the journals and ledgers instructions provided in Week 1.
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.
Special Journals General Journal Subsidiary Ledgers General Ledger
(Q=401.salesJournalWeek2)
SALES JOURNAL
Date Account
Invoice
No.
Post
Ref.
Amount
Jun 4 ARC - SloZone 201 110-3 369
Jun 10 202 110-6 3460
Jun
Jun
Jun
Feedback
SALES JOURNAL
Date Account
Invoice
No.
Post
Ref.
Amount
Jun 4 ARC - SloZone 201 110-3 369
Jun 10 ARC - Revamp Coffee Carts 202 110-6 3,460
(Q=402.purchasesJournalWeek2)
Show All
3. 2/19/2020 Transactions - week 2
https://www.perdisco.com/elms/qsam/html/qsam.aspx 3/11
ARC - Jandesh's Hot Spo
Sales Revenue
PURCHASES JOURNAL
Date Account Terms
Post
Ref.
Amount
Jun 1 APC - Croup Coffee net 30 210-3 362
Jun 5 APC - East Tangiers Co-op. 2/10, n/30 210-1 462
Jun
Jun
Jun
Jun
Feedback
There are no relevant entries in the purchases journal for this week.
(Q=403.cashReceiptsJournalWeek2)
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.
Date Account
Post
Ref.
Debit Credit
Cash
Sales
Discounts
Sales
Revenue
Accounts
Receivable
Other
Accounts
Jun 1 Bank Loan Payable 250 56,000 56,000
Jun 3 Sales Revenue X 4,788 4,788
Jun 9 110-1 2153 113 0 2266 0
Jun 10 X 11275 0 11275 0 0
Jun
Jun
Jun
Jun
Feedback
CASH RECEIPTS JOURNAL
Date Account
Post
Ref.
Debit Credit
Cash
Sales
Discounts
Sales
Revenue
Accounts
Receivable
Other
Accounts
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APC - Jordo Gourmet C
Jun 1 Bank Loan Payable 250 56,000 56,000
Jun 3 Sales Revenue X 4,788 4,788
Jun 9 ARC - Jandesh's Hot Spot 110-1 2,153 113 2,266
Jun 10 Sales Revenue X 11,275 11,275
(Q=404.cashPaymentsJournalWeek2)
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.
Date Account Check
No.
Post
Ref.
Debit Credit
Accounts
Payable
Purchases
Other
Accounts
Cash
Purchase
Discounts
Jun 3 APC - Klam Wholesalers 603 210-2 3,065 3,034 31
Jun 4 Purchases 604 X 1,912 1,912
Jun 5 APC - Dominga Wholesalers 605 210-4 3,288 3,222 66
Jun 8 606 210-5 3596 0 0 3596 0
Jun
Jun
Jun
Jun
Jun
Feedback
CASH PAYMENTS JOURNAL
Date Account Check
No.
Post
Ref.
Debit Credit
Accounts
Payable
Purchases
Other
Accounts
Cash
Purchase
Discounts
Jun 3 APC - Klam Wholesalers 603 210-2 3,065 3,034 31
Jun 4 Purchases 604 X 1,912 1,912
Jun 5 APC - Dominga Wholesalers 605 210-4 3,288 3,222 66
Jun 8 APC - Jordo Gourmet Coffee 606 210-5 3,596 3,596
(Q=405.generalJournalWeek2)
GENERAL JOURNAL
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Sales Returns and Allowances
ARC - SloZone
Date Account and Explanation Post
Ref.
Debit Credit
Jun 10 401 379 0
10 110/110-3 0 379
Jun
Jun
Feedback
GENERAL JOURNAL
Date Account and Explanation
Post
Ref.
Debit Credit
Jun 10 Sales Returns and Allowances 401 379
Jun 10 ARC - SloZone 110/110-3 379
(sales return)
(Q=410-110-1.AcctsRec1_week2)
SUBSIDIARY LEDGERS
Account: ARC - Jandesh's Hot Spot
Account No. 110-1
Date Description Ref. Debit Credit Balance
May 31 Balance 2,266 DR
Jun 9 q CRJ 0 2266 0
Jun
Jun
Feedback
Account: ARC - Jandesh's Hot Spot
Account No. 110-1
Date Description Ref. Debit Credit Balance
6. 2/19/2020 Transactions - week 2
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May 31 Balance 2,266 DR
Jun 9 Repayment CRJ 2,266 0
(Q=410-110-3.AcctsRec3_week2)
Account: ARC - SloZone
Account No. 110-3
Date Description Ref. Debit Credit Balance
May 31 Balance 1,198 DR
Jun 4 Credit sale SJ 369 1,567 DR
Jun 10 q GJ 0 379 1188 DR
Jun
Jun
Feedback
Account: ARC - SloZone
Account No. 110-3
Date Description Ref. Debit Credit Balance
May 31 Balance 1,198 DR
Jun 4 Credit sale SJ 369 1,567 DR
Jun 10 Sales return GJ 379 1,188 DR
(Q=410-110-6.AcctsRec6_week2)
Account: ARC - Revamp Coffee Carts
Account No. 110-6
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun 10 q SJ 3460 0 3460 DR
Jun
Jun
Feedback
Account: ARC - Revamp Coffee Carts
Account No. 110-6
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun 10 Credit sale SJ 3,460 3,460 DR
7. 2/19/2020 Transactions - week 2
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(Q=410-210-5.AcctsPay5_week2)
Account: APC - Jordo Gourmet Coffee
Account No. 210-5
Date Description Ref. Debit Credit Balance
May 31 Balance 3,596 CR
Jun 8 q CPJ 3596 0 0
Jun
Jun
Feedback
Account: APC - Jordo Gourmet Coffee
Account No. 210-5
Date Description Ref. Debit Credit Balance
May 31 Balance 3,596 CR
Jun 8 Repayment CPJ 3,596 0
(Q=420-100.Cash_week2)
GENERAL LEDGER
Account: Cash
Account No. 100
Date Description Ref. Debit Credit Balance
May 31 Balance 27,374 DR
Jun
Jun
Jun
Feedback
There are no relevant entries in the Cash ledger for this week.
(Q=420-110.AcctsRecControl_week2)
Account: ARC - Accounts Receivable Control
Account No. 110
Date Description Ref. Debit Credit Balance
May 31 Balance 8,174 DR
Jun 10 q GJ 0 379 7795 DR
Jun
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Jun
Feedback
Account: ARC - Accounts Receivable Control
Account No. 110
Date Description Ref. Debit Credit Balance
May 31 Balance 8,174 DR
Jun 10 Sales return from SloZone GJ 379 7,795 DR
(Q=420-120.Inventory_week2)
Account: Merchandise Inventory
Account No. 120
Date Description Ref. Debit Credit Balance
May 31 Balance 75,369 DR
Jun
Jun
Jun
Feedback
There are no relevant entries in the Merchandise Inventory ledger for this week.
(Q=420-210.AcctsPayControl_week2)
Account: APC - Accounts Payable Control
Account No. 210
Date Description Ref. Debit Credit Balance
May 31 Balance 14,198 CR
Jun
Jun
Jun
Feedback
There are no relevant entries in the Accounts Payable Control ledger for this week.
(Q=420-400.SalesRevenue_week2)
Account: Sales Revenue
Account No. 400
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Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun
Jun
Jun
Feedback
There are no relevant entries in the Sales Revenue ledger for this week.
(Q=420-401.SalesReturns_week2)
Account: Sales Returns and Allowances
Account No. 401
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun 10 q GJ 379 0 379 DR
Jun
Jun
Feedback
Account: Sales Returns and Allowances
Account No. 401
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun 10 Sales return from SloZone GJ 379 379 DR
(Q=420-402.SalesDisc_week2)
Account: Sales Discounts
Account No. 402
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun
Jun
Jun
Feedback
There are no relevant entries in the Sales Discounts ledger for this week.
10. 2/19/2020 Transactions - week 2
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(Q=420-500.Purchases_week2)
Account: Purchases
Account No. 500
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun
Jun
Jun
Feedback
There are no relevant entries in the Purchases ledger for this week.
(Q=420-501.PurchaseReturns_week2)
Account: Purchase Returns and Allowances
Account No. 501
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun
Jun
Jun
Feedback
There are no relevant entries in the Purchase Returns and Allowances ledger for this week.
(Q=420-502.PurchaseDisc_week2)
Account: Purchase Discounts
Account No. 502
Date Description Ref. Debit Credit Balance
May 31 Balance 0
Jun
Jun
Jun
Feedback
There are no relevant entries in the Purchase Discounts ledger for this week.