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![© Michael Allison. Author’s permission required for external use.
6.6 THE CREDITORS SCHEDULE
At the end of the period a Creditors Schedule is prepared showing the
balances of all debtors...
Creditors Schedule as at 30 June 2015
$
Eddie’s Electricals 990
Wholesale Electrics 1020
Balance of Creditors Control 2010
Creditors – Eddie’s Electricals [L]
9/6 Cash/Disc. Rev 2640 4/6 Stock/GST 2640
30/6 Balance 990 15/6 Stock/GST 990
3630 3630
1/7 Balance 990
Creditors – Wholesale Electrics [L]c
25/6 Cash 1400 9/6 Stock/GST 1980
30/6 Balance 1020 27/6 Stock/GST 440
2420 2420
1/7 Balance 1020
Creditors – Ace Lighting [L]
30/.6 Cash/Disc. Rev 770 21/6 Stock/GST 770
770 770
Creditors Schedule as at 30 June 2015
$
Eddie’s Electricals 990
Wholesale Electrics 1020
Balance of Creditors Control 2010
Creditors Schedule as at 30 June 2015
$
Eddie’s Electricals 990
Wholesale Electrics 1020
Balance of Creditors Control 2010
Creditors Schedule as at 30 June 2015
$
Eddie’s Electricals 990
Wholesale Electrics 1020
Balance of Creditors Control 2010
Creditors Control [L]
30/6 Cash/Disc. Rev 4810 30/6 Stock/GST 6820
30/6 Balance 2010
6820 6820
1/7 Balance 2010
Creditors Schedule as at 30 June 2015
$
Eddie’s Electricals 990
Wholesale Electrics 1020
Balance of Creditors Control 2010](https://image.slidesharecdn.com/6-150409053534-conversion-gate01/75/6-6-The-Creditors-Schedule-2-2048.jpg)
Uploaded byVCE Accounting - Michael Allison
6.6 The Creditors Schedule
The document discusses the preparation of a creditors schedule at the end of a period, summarizing the balances of debtors as of June 30, 2015. It highlights the importance of the schedule as a checking mechanism to ensure that the total debtors in the creditors control ledger match individual creditor accounts. The reliability of the information is emphasized, stating it should be free from errors and verifiable.
6.6 The Creditors Schedule
- 1.
- 2. © Michael Allison.Author’s permission required for external use. 6.6 THE CREDITORS SCHEDULE At the end of the period a Creditors Schedule is prepared showing the balances of all debtors... Creditors Schedule as at 30 June 2015 $ Eddie’s Electricals 990 Wholesale Electrics 1020 Balance of Creditors Control 2010 Creditors – Eddie’s Electricals [L] 9/6 Cash/Disc. Rev 2640 4/6 Stock/GST 2640 30/6 Balance 990 15/6 Stock/GST 990 3630 3630 1/7 Balance 990 Creditors – Wholesale Electrics [L]c 25/6 Cash 1400 9/6 Stock/GST 1980 30/6 Balance 1020 27/6 Stock/GST 440 2420 2420 1/7 Balance 1020 Creditors – Ace Lighting [L] 30/.6 Cash/Disc. Rev 770 21/6 Stock/GST 770 770 770 Creditors Schedule as at 30 June 2015 $ Eddie’s Electricals 990 Wholesale Electrics 1020 Balance of Creditors Control 2010 Creditors Schedule as at 30 June 2015 $ Eddie’s Electricals 990 Wholesale Electrics 1020 Balance of Creditors Control 2010 Creditors Schedule as at 30 June 2015 $ Eddie’s Electricals 990 Wholesale Electrics 1020 Balance of Creditors Control 2010 Creditors Control [L] 30/6 Cash/Disc. Rev 4810 30/6 Stock/GST 6820 30/6 Balance 2010 6820 6820 1/7 Balance 2010 Creditors Schedule as at 30 June 2015 $ Eddie’s Electricals 990 Wholesale Electrics 1020 Balance of Creditors Control 2010
- 3. © Michael Allison.Author’s permission required for external use. What is the purpose of a Creditors Schedule? It is used as a checking mechanism to ensure the balance of total debtors in the Creditors Control ledger equals the total of all individual creditor accounts. Reliability Information is reliable if it: • Is free from error and can be checked or verified 6.6 THE CREDITORS SCHEDULE
- 4. © Michael Allison.Author’s permission required for external use. TASK In-class Homework Ex6.5 X Ex6.6 X