The trial balance of Outsize Books Ltd revealed a difference in the books. In order that the
Question:
The trial balance of Outsize Books Ltd revealed a difference in the books. In order that the error(s) could be located it was decided to prepare purchases and sales ledger control accounts.
From the following prepare the control accounts and show where an error may have been made:
Transcribed Image Text:
20X8 Jan Dec 1 Purchases ledger balances Sales ledger balances Totals for the year 20X8 Purchases journal Sales journal Returns outwards journal Returns inwards journal Cheques paid to suppliers Petty cash paid to suppliers Cheques and cash received from customers Discounts allowed Discounts received Balances on the sales ledger set off against balances in the purchases ledger 31 The list of balances from the purchases ledger shows a total of £20,210 and that from the sales ledger a total of £38,374 £ 19,420 28,227 210,416 305,824 1,452 3,618 205,419 62 287,317 4,102 1,721 640
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Purchases l edger Control Account Date Particulars Debit Credit Balance bd 19420 Purchases Ledger To...View the full answer
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Related Book For
Frank Woods Business Accounting Volume 1
ISBN: 9780273681496
10th Edition
Authors: Frank Wood, Alan Sangster
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