SUA Assignments
• “S” Transactions: due for SUA #1
• SALES Journal transactions
• But may have exceptions
• “CR” Transactions: Due for SUA #2
• Cash Receipts Journal transactions
• But may have exceptions
• “P” Transactions: DUE for SUA #3
• Purchase Journal
• Exceptions
21
SUA Assignments
• ‘CD” Transactions: due for SUA #4
• Cash Disbursements (Cash Payments) Journal
• But may have exceptions
• “PR” Transactions: Due for SUA #5
• Payroll Journal
• But may have exceptions
• SUA #6 Year end, adjustments, closing,
financials
22
Process
23
• Record transaction on source document
• Copy key data elements from source document to
Journal at time of transaction. Copy data elements from
journal to Sudsidiary Ledger
• At EOM, total journal columns and crossfoot.
• Copy totals to appropriate General Ledger Account
General LedgerÎ Trial Balance
• Trial Balance: sum of each account in the ledger
• Debits = Credit
• Accounts summed correctly
• Could have offsetting errors
• Pull a trial balance every time you post from a journal
(
)
ASSIGNMENT SCHEDULE
Turn in photocopies of the required journals or schedules for each assignment per the schedule below. After the
graded assignment has been returned please correct the original. Assignment #6 requires that the entire original (as
corrected) package be turned in. After the Systems Understanding Aid is completed and graded, the Aid is yours to
keep and use for future reference. You should mark up all parts of the materials as you consider appropriate, except
for journals, ledgers and documents. These will be handed in for grading and should include only the information
stated in the Aid requirements.
It is suggested that journals, ledgers, documents and schedules be neatly prepared in pencil to facilitate corrections.
Any type of paper can be used for schedules as long as they are neatly prepared and can be easily read.
SUA
Instructions
on the web
under SUA
Assig REF.
n.
BOOK
#
CHAP
TER
#1
1&2
3
INSTRUCTIONS,
FLOWCHARTS
AND LEDGERS BOOK
You are following Option 1 on pages 10 of “Instructions,
Ledgers, and Flowcharts” booklet..
Read Introductory information on pages 3-16 and scan the
remainder of the booklet.
Scan through all documents in the Temporary Documents
File.
Go through all transactions on the green Transactions List
(Document No.1 in the document file) and write S, CR, P,
CD, or PR beside each transaction as follows:
•
Sale, sales return, or charge-off (S)
•
Cash Receipt (CR)
•
Purchase of goods or services (P)
•
Cash disbursement, except for payroll (CD)
•
Payroll (PR)
Every transaction must be identified as one of these three
types.
Sales
Study flowcharts on pages 18-20 of “Instructions, Ledgers,
and Flowcharts” booklet.
Complete the Seven step process for recording a
transaction on pages 11 and 12 (see #5) for all “S”
transactions on the Transactions List.
Complete WAREN'S MONTH-END PROCEDURES 1, 2 and 5
on pages 12 and 13 for sales journal and general journal
only.
HAND-IN*
Due:
1.
2.
Sales journal (be sure
you foot and cross foot
and post) (photocopy).
Trial balance: use the
excel file on the web.
Check Figures:
Sales Journal A/R column
59,007.00
General Ledger Accounting
Procedures
Source
Document
Journal
Ledger
Subsidiary
Ledger
Trial
Balance
ACG 306
Transaction
List
(Green)
• Document Symbol:
•YES
•Complete the appropriate documents and record in Journal
NO
NO
• No documents are used for this type of transaction; record in the
appropriate journal
• Documents are not required by you. Record in the
appropriate journal.
• Mark each transaction as
S (#1), CR (#2), P (#3) ,CD (#4), PR (#5),
YE (#6)
Received customer PO#ST3107 (document #4) in the mail from Clayburn University, approved their
credit and shipped the goods. All goods ordered were shipped, except that only 45 shoulder pad sets
were available
for shipment.
45
RK
33
From Price
list
Sales Journal
SALES JOURNAL
Date
Dec. 2
Dec. 7
Dec. 9
Dec. 13
Dec. 19
Dec. 24
Dec. 24
Inv. or
Cr. Memo
Customer
Number
Rosemont University
727
Clayborn University
728
E. Wisconsin University
729
Branch College
730
Clayborn University
731
E. Wisconsin University CM 42
Rosemont University
732
Monthly totals
Subs.
Acct.
No.
406
407
410
408
407
410
406
DECEMBER
Subs.
Post
3
3
3
3
3
3
3
Debit
Credit
Acct. Rec.
Sales Returns
Sales
G/L 10200
G/L 30200
G/L 30100
4,174.00
4,174.00
7,252.00
7,252.00
21,872.00
21,872.00
1,656.00
1,656.00
15,025.00
15,025.00
xx
xx
(3,480.00)
3,480.00
6,247.50
6,247.50
------------------- ------------------- ------------------52,746.50
3,480.00
56,226.50
=========== =========== ===========
3
3
3
AR Subsidiary Ledger
407
CLAYBORN UNIVERSITY
13210 S. Upton
Logansport, Indiana 46947
DATE
Description
Oct.
1 Balance Forward
Dec.
7 Invoice # 728
Dec. 14 Payment # 728
Dec. 19 Invoice # 731
XXX
Debit
XXX
CREDIT LIMIT:
Credit
7,252.00
7,252.00
15,025.00
$125,000
Balance
0.00
7,252.00
0.00
15,025.00