Accounting Practice Set: Subsidiary Ledgers and Account Reconciliation

This document presents a completed practice set focusing on subsidiary ledgers. The solution details the account balances and transactions for both Accounts Receivable and Accounts Payable subsidiary ledgers. The document includes multiple accounts for both ARC (Accounts Receivable - Candy Man, Sweet Tooth, Candy Rush, Sugar-hi, Mercury Square, Central Candy) and APC (Accounts Payable - Brennan Imports Group, Spud's Confectionery, Restlay, Hershel's, East Tangiers Cooperative, Gillard Wholesalers). Each account shows the beginning balance, debits, credits, and the final adjusted balance for the month of June, including details of sales, returns, payments, and purchases. This detailed breakdown allows students to understand the process of recording and reconciling transactions within subsidiary ledgers.

5/18/2019 Practice set information
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SUBSIDIARY LEDGERS POST ADJUSTING
Account: ARC - Candy Man
Account No. 110-1
Date Description Ref. Debit Credit Balance
May 31 Balance 3,830 DR
Jun 9 Repayment CRJ 3,830 0
Jun 30 Adjusted Balance 0
Account: ARC - Sweet Tooth
Account No. 110-2
Date Description Ref. Debit Credit Balance
May 31 Balance 2,477 DR
Jun 30 Adjusted Balance 2,477 DR
Account: ARC - Candy Rush
Account No. 110-3
Date Description Ref. Debit Credit Balance
May 31 Balance 13,428 DR
Jun 11 Credit sale SJ 6,720 20,148 DR
Jun 19 Sales return GJ 1,008 19,140 DR
Jun 25 Repayment CRJ 19,140 0
Jun 30 Adjusted Balance 0
Account: ARC - Sugar-hi
Account No. 110-4
Date Description Ref. Debit Credit Balance
May 31 Balance 4,620 DR
Jun 30 Repayment CRJ 4,620 0
Jun 30 Adjusted Balance 0
Account: ARC - Mercury Square
Account No. 110-5
Date Description Ref. Debit Credit Balance
May 31 Balance 3,310 DR
Jun 5 Repayment CRJ 3,310 0
Jun 17 Credit sale SJ 8,040 8,040 DR
Jun 23 Credit sale SJ 39,816 47,856 DR
Jun 30 Adjusted Balance 47,856 DR

5/18/2019 Practice set information
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Account: ARC - Central Candy
Account No. 110-6
Date Description Ref. Debit Credit Balance
May 31 Balance 2,814 DR
Jun 17 Repayment CRJ 1,300 1,514 DR
Jun 26 Credit sale SJ 14,472 15,986 DR
Jun 30 Dishonoured cheque CRJ 1,300 17,286 DR
Jun 30 Adjusted Balance 17,286 DR
Account: APC - Brennan Imports Group
Account No. 210-1
Date Description Ref. Debit Credit Balance
May 31 Balance 4,264 CR
Jun 13 Repayment CPJ 4,264 0
Jun 15 Credit purchase PJ 7,840 7,840 CR
Jun 24 Repayment CPJ 7,840 0
Jun 30 Adjusted Balance 0
Account: APC - Spud's Confectionery
Account No. 210-2
Date Description Ref. Debit Credit Balance
May 31 Balance 4,400 CR
Jun 9 Repayment CPJ 4,400 0
Jun 30 Adjusted Balance 0
Account: APC - Restlay
Account No. 210-3
Date Description Ref. Debit Credit Balance
May 31 Balance 25,138 CR
Jun 30 Adjusted Balance 25,138 CR
Account: APC - Hershel's
Account No. 210-4
Date Description Ref. Debit Credit Balance
May 31 Balance 2,525 CR
Jun 30 Credit purchase PJ 6,272 8,797 CR
Jun 30 Adjusted Balance 8,797 CR
Account: APC - East Tangiers Cooperative
Account No. 210-5

5/18/2019 Practice set information
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Date Description Ref. Debit Credit Balance
May 31 Balance 2,558 CR
Jun 12 Repayment CPJ 2,558 0
Jun 17 Credit purchase PJ 3,960 3,960 CR
Jun 28 Purchase return GJ 2,520 1,440 CR
Jun 30 Adjusted Balance 1,440 CR
Account: APC - Gillard Wholesalers
Account No. 210-6
Date Description Ref. Debit Credit Balance
May 31 Balance 3,624 CR
Jun 6 Repayment CPJ 3,624 0
Jun 8 Credit purchase PJ 4,560 4,560 CR
Jun 30 Adjusted Balance 4,560 CR