Manual Accounting Practice Set Coffee & Caf Supplier, US GAAP Edition 3

Feedback: Schedules of accounts

This is a feedback page. Please review this page carefully because later pages in this practice set build on the feedback provided here. After you have reviewed your feedback page, click Continue at the bottom of this page to move on to the next page of your practice set.

Your progress

Your grading
Your grading outcome (still in progress) Awarded Total Points (prior to this page) Points (on this page) Points (after this page) Total 812 6 ! 893 6 227

818 1,126

Completed:

74% (approximately)

Remaining pages will take: up to 4.75 hours

The time frames we provide are a guide only. It may take you more or less time to complete each step.

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 June 30, 2012. 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: 1) Create a schedule of accounts receivable as at the end of June. 2) Create a schedule of accounts payable as at the end of June. Remember to enter all answers to the nearest whole dollar. Back-On-Track functionality Please note that any answers from previous pages carried through onto this page (either on the page or in a popup information page) have been reset, if necessary, to the correct answers. Your particular answers from previous pages are no longer shown.

(Q=900.schedulesOfAccounts)

Bean Counters Coffeehouse Schedule of Accounts Receivable June 30, 2012 Account No. Name Balance ($)
0 2512 0 0 2464 731 5707 DR DR DR DR DR DR DR

110-1 ARC - Quick Bolt Coffee 110-2 ARC - Revamp Coffee Carts 110-3 ARC - Jandesh's Hot Spot 110-4 ARC - KavaJava 110-5 ARC - Central Coffee 110-6 ARC - Con's Coffee Total Bean Counters Coffeehouse Schedule of Accounts Payable June 30, 2012 Account No. 210-1 APC - Croup Coffee 210-2 APC - Klam Wholesalers 210-3 APC - Dominga Wholesalers 210-4 APC - East Tangiers Co-op. 210-5 APC - Abejundio Coffee 210-6 APC - Buena Vista Coffee Total Name

Terms 2/10, n/30 1/15, n/30 net 30 2/10, n/30 net 30 net 30

Balance ($)
0 0 0 1260 0 0 1260 CR CR CR CR CR CR CR

Feedback Bean Counters Coffeehouse Schedule of Accounts Receivable June 30, 2012

Account No.

Name

Balance ($)

110-1 ARC - Quick Bolt Coffee 110-2 ARC - Revamp Coffee Carts 110-3 ARC - Jandesh's Hot Spot 110-4 ARC - KavaJava 110-5 ARC - Central Coffee 110-6 ARC - Con's Coffee Total 2,464 DR 731 DR 5,707 DR 2,512 DR

Bean Counters Coffeehouse Schedule of Accounts Payable June 30, 2012

Account No. 210-1 APC - Croup Coffee

Name

Terms 2/10, n/30 1/15, n/30 net 30 2/10, n/30 net 30 net 30

Balance ($)

210-2 APC - Klam Wholesalers 210-3 APC - Dominga Wholesalers 210-4 APC - East Tangiers Co-op. 210-5 APC - Abejundio Coffee 210-6 APC - Buena Vista Coffee Total

1,260 CR

1,260 CR

Manual Accounting Practice Set Coffee & Caf Supplier, US GAAP Edition 3 (VCU3m) 2010 Perdisco / latin /. v., learn thoroughly http://www.perdisco.com Terms Of Use | Privacy Policy | Thursday, May 10, 2012, 04:31