The books of Trader Ltd include three ledgers comprising a general ledger, sales ledger and purchases ledger.
Question:
The books of Trader Ltd include three ledgers comprising a general ledger, sales ledger and purchases ledger. The general ledger contains sales ledger and purchases ledger control accounts as part of the double entry.
The following information relates to the month of January 20X9:
Required
Prepare the sales ledger and purchases ledger control accounts for January 20X9.
Transcribed Image Text:
Sales ledger control account balance on 1 January 20X9 Sales ledger control account balance on 1 January 20X9 Purchases ledger control account balance on 1 January 20X9 Purchases ledger control account balance on 1 January 20X9 Credit sales for the month Credit purchases for the month Returns inward Returns outward Carriage inwards Carriage outwards Payments received from credit customers Payments to credit suppliers Discount allowed Discount received Irrecoverable debts Allowance for irrecoverable debts Cheques received from credit customers, dishonoured Bills of exchange payable, accepted by us Bills of exchange receivable, accepted by credit customers Irrecoverable debts recovered Cash received from bills receivable Credit customers' balances set against accounts in the purchases ledger Cash paid on bills payable Interest charged on credit customers' overdue accounts Allowances received Allowances given Sales ledger control account balance on 31 January 20X9 Purchases ledger control account balance on 31 January 20X9 £ 4,200 300 250 6,150 23,000 21,500 750 450 25 15 16,250 19,800 525 325 670 400 1,850 4,500 5,300 230 4,850 930 3,700 120 280 340 240 420 debit credit debit credit credit debit
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ANSWER Sales Ledger Control Account Date Details Debit Credit Balance 1 Jan 20X9 Opening balance 162...View the full answer
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Related Book For
Introduction To Financial Accounting
ISBN: 9781526803009
9th Edition
Authors: Anne Marie Ward, Andrew Thomas
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