Chapter 9, Problem 1E

Requirement 1:-

To determine

To calculate: To prepare the necessary T-accounts and subsidiary ledgers.

Answer to Problem 1E

Solution: The balances of T-account are

Account receivables = $9301 Cr.

Sales = $9510 Dr.

Sales returns and allowances = $209 Cr.

Explanation of Solution

The T-accounts are as follows:

Account Receivables A/c
Date	Particular	$	Date	Particular	$
Nov-05	Sales	4615	Nov-21	Sales Returns and Allowances	209
Nov-10	Sales	1350	Nov-30	Balance c/d	9301
Nov-13	Sales	832
Nov-30	Sales	2713
		9510			9510
Sales A/c
Date	Particular	$	Date	Particular	$
Nov-30	Balance c/d	9510	Nov-05	A/R - Ski Shop	4615
			Nov-10	A/R - Welcome Enterprises	1350
			Nov-13	A/R - Zia Natara	832
			Nov-30	A/R - Ski Shop	2713
		9510			9510
Sales Returns and Allowances A/c
Date	Particular	$	Date	Particular	$
Nov-21	A/R - Zia Natara	209	Nov-30	Balance c/d	209
		209			209

The account receivables subsidiary ledgers are as follows:

A/R - Ski Shop A/c
Date	Particular	$	Date	Particular	$
Nov-05	Sales	4615	Nov-30	Balance c/d	7328
Nov-30	Sales	2713
		7328			7328
A/R - Welcome Enterprises A/c
Date	Particular	$	Date	Particular	$
Nov-10	Sales	1350	Nov-30	Balance c/d	1350
		1350			1350
A/R - Zia Natara A/c
Date	Particular	$	Date	Particular	$
Nov-13	Sales	832	Nov-21	Sales Returns and Allowances	209
			Nov-30	Balance c/d	623
		832			832

Conclusion

The above mentioned T-accounts are prepared.

Requirement 2:-

To determine

To calculate: To prepare the schedule of Account Receivables.

Answer to Problem 1E

Solution: The balance of schedule of Account Receivables is $9301.

Explanation of Solution

Schedule of Account Receivables
Date	Particular	Amount
		Due	Received	Balance
Nov-05	Ski Shop	4615	0	4615
Nov-30	Ski Shop	2713	0	2713
Nov-10	Welcome Enterprises	1350	0	1350
Nov-13	Zia Natara	623	0	623
	Total			9301

Conclusion

The schedule of account receivables is prepared.