What is the purpose of preparing a sales ledger control account? A. To calculate the total credit

Question:

What is the purpose of preparing a sales ledger control account?

A. To calculate the total credit sales for the period
B. To calculate the total sales for the period
C. To check the arithmetical accuracy of the sales account
D. To check the arithmetical accuracy of the sales ledger accounts

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Cambridge IGCSE And O Level Accounting Coursebook

ISBN: 9781316502778

2nd Edition

Authors: Catherine Coucom

See More Books

Question Posted: Sep 16, 2021 01:45 AM

See More Questions

What is the purpose of preparing a bank reconciliation?
What is the purpose of preparing a bank reconciliation? Discuss.
What is the purpose of preparing common size financial statements?
15. The temperature C, in degrees, that is equivalent to a temperature of F degrees Fahrenheit is given by C- graph of this equation shows the temperature in Celsius for the corresponding...
1. Why do consumers such as Madhu, think green but not really act green? What are some of the impediments to acting green? 2. Are incentives necessary to alter consumer behavior related to reusing...
Trent Weaver was reviewing the latest income statement for Taryn Enterprises. For the second year in a row, the Collectibles division was showing a negative segment margin, and Trent thought it was...
A rod of length $\ell$ rotates about one end at a constant rotational speed $\omega$. The rod is in a uniform magnetic field $\vec{B}$, and the axis of rotation is parallel to $\vec{B}$...
The following is a list of various activities from Geiersbach Grains latest year of operations. Sale of marketable securities.......... $ 15,130 Repayment of long-term debt.......... 19,215 Payment...
Men Conference Ltd has an authorized share capital of 60,000,000 ordinary shares of Sh. 10 each and 500,000 shares of Sh. 50 each. The following trial balance of the company was extracted as at 31.12...
a. The prevailing commercial paper rate on paper issued by large publicly traded firms is lower than the rate Carson would pay when using a line of credit. Do you think that Carson could issue...
What may appear on the debit side of a purchases ledger control account? A. Credit purchases B. Discount allowed C. Payments to credit suppliers D. Returns by credit customers
Alberto is a clothing wholesaler. His draft profit for the year ended 30 September 203 was $24,920. He then discovered the following errors: 1. One page of the sales journal had been overcast by...
Find the partial fraction decomposition for the rational expression. 3 (x+ 1)(x+ 3)
Elun Mosk wants to discount a $12,850, 225-day note at 6% at his bank at a discount rate of 4% on day 200. What are his proceeds? Note: Round intermediate calculations and final answer to the nearest...
Larry invests $7100 in an account that pays 6.3 percent simple interest. How much money will Larry have in interest at the end of 7 years? Round to the nearest penny. Your Answer:
Discuss the significance of taxes on an investment portfolio for the individual investor. What are the implications in terms of the selection of investments, as well as the type of account where the...
1. An "Executive Summary" for the company "Warrior Sports" 2. Describe the customer profile for this company
The Spring Flower Co. has earnings of $1.95 per share. The benchmark PE for the company is 12. What stock price would you consider appropriate?
Calculate the equilibrium constant for the acid-base reactions between the following pairs of reactants. a. HCl + H2O b. CH3COOH + H2O c. CH3NH2 + H2O CH3NH3 + H20
The registrar of a college with a population of N = 4,000 full-time students is asked by the president to conduct a survey to measure satisfaction with the quality of life on campus. The following...
Explain the meaning of the comparative performance and comparative cost data in Exhibits 18-3 and 18-4. Why does it appear that eliminating sales areas D and E would be profit able?
Most sales forecasting is subject to some error (perhaps 5 to 10 percent). Should we then expect variations in sales performance of 5 to 10 percent above or below quota? If so, how should we treat...
Why is there controversy between the advocates of the full-cost and the contribution-margin approaches to cost analysis?
2. [Real Business Cycle]. Consider a simple RBC model as below: Household's Utility function is u(c,1)=bc +(1b)1 + BE {bc+7 +(1b)1+} where = 0.2 Budget restriction period-t is 't+1 C+E C++1 1+1+1 wl...
Case: Two months ago, Lisa was honorably discharged from the Air Force where she spent four years training as an airplane mechanic. After discharge, she relocated to take a 40 hour per week...
52 6. This is another question about portfolios. Here, for a given shape of the profit curve, design the portfolio. (a) Construct a portfolio using only Calls where, at time t = T, the profit line is...

What is the purpose of preparing a sales ledger control account? A. To calculate the total credit

Question:

Step by Step Answer:

option D is correct To check the arithmetical accuracy of the sales ledger acc...View the full answer

Cambridge IGCSE And O Level Accounting Coursebook

Students also viewed these Business questions