ManualAccountingPracticeSet

HiFiWay,AustralasianEdition3

Feedback:Schedulesofaccounts
Thisisafeedbackpage.Pleasereviewthispagecarefullybecauselaterpagesinthispracticesetbuildonthe
feedbackprovidedhere.Afteryouhavereviewedyourfeedbackpage,clickContinueatthebottomofthis
pagetomoveontothenextpageofyourpracticeset.

Yourprogress

Yourgrading
Yourgradingoutcome(stillinprogress)

Points(priortothispage)

Awarded Total
856

873

Points(onthispage)

Points(afterthispage)

157

Total

862 1,036

Completed:

78%(approximately)

Remainingpageswilltake: upto3.75hours
Thetimeframesweprovideareaguideonly.Itmay
takeyoumoreorlesstimetocompleteeachstep.

Nowthatalladjustingentrieshavebeenpostedtothegeneralledger,youareaskedtopreparetheschedule
ofaccountsreceivableandthescheduleofaccountspayableasat30June2014.
Thepurposeofpreparingthescheduleofaccountsreceivableistoverifythatthesumofthecustomer
balancesrecordedintheaccountsreceivablesubsidiaryledgerisequaltothebalanceoftheAccounts
Receivablecontrolaccountinthegeneralledger.Similarly,thepurposeofthescheduleofaccountspayableis
toconfirmthatthesumofthesupplierbalancesrecordedintheaccountspayablesubsidiaryledgerisequalto
thebalanceoftheAccountsPayablecontrolaccountinthegeneralledger.
Instructionsforschedulesofaccounts
Usingthesubsidiaryledgersandthegeneralledger:
1) CreateascheduleofaccountsreceivableasattheendofJune.
2) CreateascheduleofaccountspayableasattheendofJune.
Remembertoenterallanswerstothenearestwholedollar.
BackOnTrackfunctionality
Pleasenotethatanyanswersfrompreviouspagescarriedthroughontothispage(eitheronthepageorina
popupinformationpage)havebeenreset,ifnecessary,tothecorrectanswers.Yourparticularanswersfrom

previouspagesarenolongershown.

(Q=900.schedulesOfAccounts)

HiFiWay
ScheduleofAccountsReceivable
Asat30/06/2014
AccountNo.

Name

Balance($)

1101 ARCHandysElectronics

1102 ARCPikea

3485

1103 ARCJerryTechnology

1104 ARCHypertronics

1105 ARCTurboTech
1106 ARCRadioHut
Total

DR

900

DR

1400

DR

5785

DR

HiFiWay
ScheduleofAccountsPayable
Asat30/06/2014
AccountNo.

Name

Terms

Balance($)

2101 APCMoonMegasystems

2/10,n/30

2102 APCPearTechnology

1/15,n/30

net30

2/10,n/30

880

2105 APCPony

net30

2106 APCBigTelco

net30

880

2103 APCMegaTech
2104 APCJCNElectrical

Total

Feedback
HiFiWay
ScheduleofAccountsReceivable
Asat30/06/2014

AccountNo.

Name

1101 ARCHandysElectronics

Balance
($)

CR

CR

1102 ARCPikea

3,485DR

1103 ARCJerryTechnology

1104 ARCHypertronics

900DR

1105 ARCTurboTech
1106 ARCRadioHut

1,400DR

Total

5,785DR

HiFiWay
ScheduleofAccountsPayable
Asat30/06/2014

AccountNo.

Name

Balance
($)

Terms

2101 APCMoonMegasystems

2/10,n/30

2102 APCPearTechnology

1/15,n/30

net30

2/10,n/30

880CR

2105 APCPony

net30

2106 APCBigTelco

net30

880CR

2103 APCMegaTech
2104 APCJCNElectrical

Total

ManualAccountingPracticeSet
HiFiWay,AustralasianEdition3(VBA3p)
2010Perdisco/latin/.v.,learnthoroughly
http://www.perdisco.com
TermsOfUse|PrivacyPolicy|Tuesday,June10,2014,15:09