Schedules of accounts

Prepare the schedule of accounts receivable and payable as at 30 June 2017. Verify the sum of customer balances recorded in the accounts receivable subsidiary ledger is equal to the balance of the Accounts Receivable control account in the general ledger.

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Manual Accounting Practice Set
iCandy, Australasian Edition 3
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Now that all adjusting entries have been posted to the general ledger, you are asked to prepare the schedule of accounts
receivable and the schedule of accounts payable as at 30 June 2017.
The purpose of preparing the schedule of accounts receivable is to verify that the sum of the customer balances recorded in
the accounts receivable subsidiary ledger is equal to the balance of the Accounts Receivable control account in the general
ledger. Similarly, the purpose of the schedule of accounts payable is to confirm that the sum of the supplier balances
recorded in the accounts payable subsidiary ledger is equal to the balance of the Accounts Payable control account in the
general ledger.
Instructions for schedules of accounts
Using the subsidiary ledgers and the general ledger:
Create a schedule of accounts receivable as at the end of June.
Create a schedule of accounts payable as at the end of June.
Remember to enter all answers to the nearest whole dollar.
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8/31/2017 Schedules of accounts
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(Q=900.schedulesOfAccounts)
iCandy
Schedule of Accounts Receivable
As at 30/06/2017
Account No. Name Balance ($)
110-1 ARC - Candy Man 0
110-2 ARC - Sweet Tooth 2162 DR
110-3 ARC - Mercury Square 0
110-4 ARC - Central Candy 0
110-5 ARC - Sugar-hi 33392 DR
110-6 ARC - Candy Rush 15847 DR
Total 51401 DR
iCandy
Schedule of Accounts Payable
As at 30/06/2017
Account No. Name Terms Balance ($)
210-1 APC - Hershel's 2/10, n/30 0
210-2 APC - East Tangiers Cooperative 1/15, n/30 0
210-3 APC - Restlay net 30 29454 CR
210-4 APC - Gillard Wholesalers 2/10, n/30 8774 CR
210-5 APC - Brennan Imports Group net 30 3360 CR
210-6 APC - Spud's Confectionery net 30 2496 CR
Total 44084 CR
Feedback
iCandy
Schedule of Accounts Receivable
As at 30/06/2017
Account No. Name Balance ($)
110-1 ARC - Candy Man
110-2 ARC - Sweet Tooth 2,162 DR
110-3 ARC - Mercury Square

8/31/2017 Schedules of accounts
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110-4 ARC - Central Candy
110-5 ARC - Sugar-hi 33,392 DR
110-6 ARC - Candy Rush 15,847 DR
Total 51,401 DR
iCandy
Schedule of Accounts Payable
As at 30/06/2017
Account No. Name Terms Balance ($)
210-1 APC - Hershel's 2/10, n/30
210-2 APC - East Tangiers Cooperative 1/15, n/30
210-3 APC - Restlay net 30 29,454 CR
210-4 APC - Gillard Wholesalers 2/10, n/30 8,774 CR
210-5 APC - Brennan Imports Group net 30 3,360 CR
210-6 APC - Spud's Confectionery net 30 2,496 CR
Total 44,084 CR
Manual Accounting Practice Set
iCandy, Australasian Edition 3 (VSA3q)
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