PART A 1. Discuss the importance of control account. 2. Discuss TWO (2) types of control...
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PART A 1. Discuss the importance of control account. 2. Discuss TWO (2) types of control account. PART B Question 1 The trial balance of K Home has the following information extracted from the books for the month of April. 1 April Sales ledger debit balances Credit sales made to customers Cheque received from customers. Cash received from customers Discount to customers Bad debt Sales return by customers 30 April REQUIRED: Prepare a sales ledger control account. Question 2 (5 MARKS) (5 MARKS) Dishonoured cheques from customers Account receivables settled by contra accounts with account payable RM 600 Sales ledger debit balances RM 31,200 Credit balances on 1 Jan 2023 Total credit purchases Cheques paid to supplier Cash paid to supplier Return to supplier RM 14,000 RM 150.300 RM 130,200 RM 12,000 RM 7,500 RM 1,200 REQUIRED: Prepare a purchases ledger control account. RM 900 RM 500 The trial balance of Maria has the following information extracted from the books for the month of January. (6 MARKS) RM 2945 RM 3,500 RM 1,821 RM 320 RM 40 (4 MARKS) PART A 1. Discuss the importance of control account. 2. Discuss TWO (2) types of control account. PART B Question 1 The trial balance of K Home has the following information extracted from the books for the month of April. 1 April Sales ledger debit balances Credit sales made to customers Cheque received from customers. Cash received from customers Discount to customers Bad debt Sales return by customers 30 April REQUIRED: Prepare a sales ledger control account. Question 2 (5 MARKS) (5 MARKS) Dishonoured cheques from customers Account receivables settled by contra accounts with account payable RM 600 Sales ledger debit balances RM 31,200 Credit balances on 1 Jan 2023 Total credit purchases Cheques paid to supplier Cash paid to supplier Return to supplier RM 14,000 RM 150.300 RM 130,200 RM 12,000 RM 7,500 RM 1,200 REQUIRED: Prepare a purchases ledger control account. RM 900 RM 500 The trial balance of Maria has the following information extracted from the books for the month of January. (6 MARKS) RM 2945 RM 3,500 RM 1,821 RM 320 RM 40 (4 MARKS)
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PART A 1 The Importance of Control Account A control account is a fundamental component of a doubleentry bookkeeping system that helps ensure the accuracy and integrity of financial records Its primar... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0176509736
10th Canadian Edition, Volume 1
Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,
Posted Date:
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