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FNSACC312 Administer subsidiary accounts and ledgers

FNS30317Certificate III in Accounts Administration
FNS40217Certificate IV in Accounting& Bookkeeping

Assessment 1 Portfolio of Evidence

Question 1

(Elements: 1.1-1.4, 7.2)

The Accounts Receivable and Accounts Payable listings in the books of Marlin Machinery at the end of April were as follows:

Accounts Receivable as at 30 April

Accounts Payable as at 30 April

T Yu





M Markey


K Parris


P Thomas


M Jack




The following transactions occurred in them month of May. The invoices sent and received include GST.




Invoices sent to T Yu $462 and S Smedley $330


Received cheque from M Markey for $640

Sent invoices to P Thomas for $220


Bought tools from Quality Spare Parts for $891


Received cheque from M Jack for $700


Received cheque for $450 from T Yu


Invoiced M Markey for $572


Sent invoices to S Smedley for $385


Paid Franklin Electronics $1,600



Bought $1,320 equipment from Franklin Electronics


Paid K Parris $200


Invoiced P Thomas $1,100


Received from P Thomas $1,400


  • Enter opening balances in the subsidiary ledger accounts and post the May transactions to the accounts. Calculate the closing balances at the end of the month.
  • Prepare the Accounts Receivable Control account and the Accounts Payable Control account showing the effect of the above. Calculate the closing balances at the end of the month.
  • Prepare a list of Accounts Receivable and Accounts Payable as at 31 May. Question 2

(Elements: 2.1-2.3, 3.1-3.2, 4.1-4.2, 6.1-6.3, 7.1-7.2)

As a newly qualified accounts receivable clerk, your employer has asked you to analyse the following outstanding debts and determine which debts you would consider to be bad (e.g. the client or debtor is unlikely to ever pay the account).

List of Debtors Outstanding for Lamp Pty Ltd

Jason Robands


Outstanding 45 days

Sue Lang


Outstanding 29 days

Maree Stammers


Outstanding 121 days

Xi Zhou


Outstanding 5 days

Paul Stim


Outstanding 116 days

Franklin Electronics


Outstanding 37 days

Simmons Pty Ltd


Outstanding 58 days

Limp Café Subiaco


Outstanding 99 days

B Company Limited


Outstanding 215 days

Graeme Sullers


Outstanding 63 days


  • Complete an Aged Debtors Report based on the following format using an Excel spreadsheet and ensure that you sum each column with the total amount.

Debtors name


0-30 days

31-60 days

61-90 days

> 90 days

  • In the second part of this question based on the age debtors report prepared determine which accounts you would consider to be “doubtful” debts and those which would be “bad” debts?
  • For those debts now more than 90 days what actions do you think the company should take?



Question 3

(Elements: 1.1-1.4)

Alana Adams has provided you with a list of her debtors and creditors:

Accounts Receivable balance at March 1, 2016

$ 79,750

Accounts Payable balance at March 1, 2016


Invoices received from Subcontractors (Suppliers)


Invoices sent to clients for consulting services


Fee income received in cash


Expenses paid in cash


Contra of accounts payable to accounts receivable


Cash received from accounts receivable


Bad debt (including GST) written off


Cash payments to accounts payable


Purchase of Motor Vehicle on credit


Interest income received in cash



  • Prepare the Accounts Receivable Control account, as it would appear in the general ledger.
  • Prepare the Accounts Payable Control account, as it would appear in the general ledger. (All amounts include GST)

Question 4

(Elements: 2.1-2-3, 3.3-3.4)

As part of your role in assisting Alana Adams in preparing the balances for the accounts payable and accounts receivable control accounts (question 3). She has now requested for you to develop a policy on debtors and creditors.


You are required to develop a policy for debtors and creditors for Alana Adams and this must include the following:

  • What procedures must Alana take to ensure (1) creditors are paid by the due date, (2) creditors are paid early when a discount is offered, and (3) creditors are not paid twice
  • What procedures must be taken to identify debts that are doubtful and those that a bad and must be written off
  • What procedures should be in place when chasing up debts, e.g. when and how should phone calls be made, letters of demand, legal action

This can be in the form of a Memo or a letter and should be no more than 1 page and you can use dot points


In addition to using information from the textbook and sessions/topics slides, you should also undertake a Google search for “organisational policies on debts”


Question 5

(Elements: 2.1-2.3, 3.1-3.2)

Nupina Gifts has the following balances as at 30 June 2017:

  • Accounts receivable $343,630
  • Balance of allowance for doubtful debts is $4,200
  • Bad debts to be written off are $3,630 including GST
  • Allowance for doubtful debts to be adjusted to 3% of accounts receivable


(a) General journal entries to record the bad debts and allowance adjustment (b) Post general ledger to relevant accounts

Question 6

(Elements: 1.1-1.4, 2.1-2.3, 4.1-4.2, 5.1-5.2, 6.1-6.3)

Landline Equipment Hire provides to credit to customers on a 30-day basis. Accounts receivables ledger shows the following:

FNSACC312 Accounts receivables ledger records


  • Prepare an Aged Debtors Report as at 31 May
  • What actions do you recommend Landline Equipment Hire take to recovering the outstanding debts?

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