
Loose Leaf for Fundamentals of Accounting Principles and Connect Access Card
22nd Edition
ISBN: 9781259542169
Author: John J Wild
Publisher: McGraw-Hill Education
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Question
Chapter 9, Problem 1E
Requirement 1:-
To determine
To calculate: To prepare the necessary T-accounts and subsidiary ledgers.
Requirement 1:-
Expert Solution

Answer to Problem 1E
Solution: The balances of T-account are
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.
Requirement 2:-
Expert Solution

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.
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Chapter 9 Solutions
Loose Leaf for Fundamentals of Accounting Principles and Connect Access Card
Ch. 9 - Prob. 1DQCh. 9 - Why does the direct write-off method of accounting...Ch. 9 - Prob. 3DQCh. 9 - Why might a business prefer a note receivable to...Ch. 9 - Prob. 5DQCh. 9 - Prob. 6DQCh. 9 - Prob. 7DQCh. 9 - Prob. 8DQCh. 9 - Prob. 9DQCh. 9 - Prob. 10DQ
Ch. 9 - Prob. 1QSCh. 9 - Prob. 2QSCh. 9 - Prob. 3QSCh. 9 - Distinguishing between allowance method and direct...Ch. 9 - Prob. 5QSCh. 9 - Prob. 6QSCh. 9 - Prob. 7QSCh. 9 - Prob. 8QSCh. 9 - Prob. 9QSCh. 9 - Prob. 10QSCh. 9 - Prob. 11QSCh. 9 - Prob. 12QSCh. 9 - Prob. 13QSCh. 9 - Prob. 1ECh. 9 - Prob. 2ECh. 9 - Prob. 3ECh. 9 - Prob. 4ECh. 9 - Prob. 5ECh. 9 - Prob. 6ECh. 9 - Prob. 7ECh. 9 - Prob. 8ECh. 9 - Prob. 9ECh. 9 - Prob. 10ECh. 9 - Prob. 11ECh. 9 - Prob. 12ECh. 9 - Prob. 13ECh. 9 - Prob. 14ECh. 9 - Prob. 15ECh. 9 - Prob. 16ECh. 9 - Prob. 1APSACh. 9 - Prob. 2APSACh. 9 - Prob. 3APSACh. 9 - Prob. 4APSACh. 9 - Prob. 5APSACh. 9 - Prob. 1BPSBCh. 9 - Prob. 2BPSBCh. 9 - Prob. 3BPSBCh. 9 - Prob. 4BPSBCh. 9 - Prob. 5BPSBCh. 9 - Prob. 9SPCh. 9 - Prob. 1GLPCh. 9 - Prob. 1BTNCh. 9 - Prob. 2BTNCh. 9 - Prob. 3BTNCh. 9 - Prob. 4BTNCh. 9 - Access eBay’s, January 31, 2014, filing of its...Ch. 9 - Prob. 6BTNCh. 9 - Prob. 7BTNCh. 9 - Prob. 8BTNCh. 9 - Prob. 9BTN
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