Schedules of Accounts - Manual Accounting Practice Set, Tech Head

This document provides a solution to a schedules of accounts assignment within a manual accounting practice set, specifically Tech Head, Australasian Edition 3. The assignment requires the preparation of both a schedule of accounts receivable and a schedule of accounts payable as of June 30, 2018. The schedules are constructed using subsidiary ledgers and the general ledger to verify that the sum of customer and supplier balances matches the respective control account balances. The solution presents the schedules with account numbers, names, and balances, ensuring that the total accounts receivable balance is $230,736 DR and the total accounts payable balance is $81,848 CR.

6/6/2018 Schedules of accounts
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Manual Accounting Practice Set
Tech Head, 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 2018.
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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(Q=900.schedulesOfAccounts)
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6/6/2018 Schedules of accounts
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Schedule of Accounts Receivable
As at 30/06/2018
Account No. Name Balance ($)
110-1 ARC - Turbo Tech 0
110-2 ARC - Hypertronics 4973 DR
110-3 ARC - Radio Hut 0
110-4 ARC - Handys Electronics 0
110-5 ARC - Jerry Technology 185376 DR
110-6 ARC - Pikea 40387 DR
Total 230736 DR
Tech Head
Schedule of Accounts Payable
As at 30/06/2018
Account No. Name Terms Balance ($)
210-1 APC - Moon Megasystems 2/10, n/30 0
210-2 APC - Pony 1/15, n/30 0
210-3 APC - Pear Technology net 30 28420 CR
210-4 APC - Big Telco 2/10, n/30 26884 CR
210-5 APC - Mega Tech net 30 5192 CR
210-6 APC - JCN Electrical net 30 21352 CR
Total 81668 CR
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Tech Head
Schedule of Accounts Receivable
As at 30/06/2018
Account No. Name Balance ($)
110-1 ARC - Turbo Tech
110-2 ARC - Hypertronics 4,973 DR
110-3 ARC - Radio Hut
110-4 ARC - Handys Electronics
110-5 ARC - Jerry Technology 185,376 DR
110-6 ARC - Pikea 40,387 DR
Total 230,736 DR
Tech Head
Schedule of Accounts Payable
As at 30/06/2018

6/6/2018 Schedules of accounts
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Account No. Name Terms Balance ($)
210-1 APC - Moon Megasystems 2/10, n/30
210-2 APC - Pony 1/15, n/30
210-3 APC - Pear Technology net 30 28,420 CR
210-4 APC - Big Telco 2/10, n/30 26,884 CR
210-5 APC - Mega Tech net 30 5,192 CR
210-6 APC - JCN Electrical net 30 21,352 CR
Total 81,848 CR
Manual Accounting Practice Set
Tech Head, Australasian Edition 3 (VSA3q)
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