From the following data, construct the sales ledger and purchases ledger control accounts for the month of
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From the following data, construct the sales ledger and purchases ledger control accounts for the month of January 2012:
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Sales ledger balances as at 1 January 2012 Purchases ledger balances as at 1 January 2012 Credit sales for January Credit purchases for January Cash sales Cash purchases Cash and bank receipts in respect of credit sales Dishonoured cheques Credit balances in sales ledger as at 1 January 2012 Set-offs from sales ledger against purchases ledger balances Returns inwards Bad debts Payments made for credit purchases Discounts allowed Discounts received Returns outwards Sales ledger balances as at 31 January 2012 Purchases ledger balances as at 31 January 2012 Credit balances in sales ledger at 31 January 2012 54,255 42,331 509,483 324,324 86,786 408,850 490,790 867 913 3,210 767 2,111 398,080 5,353 6,438 1,109 64,564 42,344 2,190
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2012 01 Jan Balances bd 31 Jan Credit sales 31 Jan Dishon...View the full answer
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Frank Woods Business Accounting Basics
ISBN: 9780273725008
1st Edition
Authors: Frank Wood, Mr David Horner
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