From the following data, construct the sales ledger and purchases ledger control accounts for the month of
Question:
From the following data, construct the sales ledger and purchases ledger control accounts for the month of March 2016.
Transcribed Image Text:
Sales ledger balances as at 1 March 2016 Purchases ledger balances as at 1 March 2016 Credit sales for March Credit purchases for March Cash and bank receipts in respect of credit sales Set-offs from sales ledger against purchase ledger balances Returns inwards Bad debts Payments made for credit purchases Discounts allowed Discounts received Returns outwards Sales ledger balances as at 31 March 2016 Purchases ledger balances as at 31 March 2016 6,646 3,424 34,530 27,671 35,559 190 2,090 760 24,043 755 543 1,785 1,822 4,534
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (2 reviews)
2016 01 Mar Balances bd 31 Mar Credit sales Sales ledger control account 2016 6646 31 Mar Cash ...View the full answer
Answered By
Mugdha Sisodiya
My self Mugdha Sisodiya from Chhattisgarh India. I have completed my Bachelors degree in 2015 and My Master in Commerce degree in 2016. I am having expertise in Management, Cost and Finance Accounts. Further I have completed my Chartered Accountant and working as a Professional.
Since 2012 I am providing home tutions.
3.30+
2+ Reviews
10+ Question Solved
Related Book For
Frank Woods Business Accounting Basics
ISBN: 9780273725008
1st Edition
Authors: Frank Wood, Mr David Horner
Question Posted:
Students also viewed these Business questions
-
From the following data, construct the sales ledger and purchases ledger control accounts for the month of June 2019. Sales ledger balances as at 1 June 2019 Purchases ledger balances as at 1 June...
-
From the following data, construct the sales ledger and purchases ledger control accounts for the month of January 2012: Sales ledger balances as at 1 January 2012 Purchases ledger balances as at 1...
-
From the following data, construct the sales ledger and purchases ledger control accounts for the month of July 2010. Sales ledger balances as at 1 July 2010 Purchases ledger balances as at 1 July...
-
1) Write a generic function to integrate y(x)dx with the following format function I integrator (x, y, method) where x is a vector and y is a matrix whose columns y(:,j) are vectors of the same...
-
What is the importance of the Trade Agreements Act of 1934? What are the ruling principles of GATT?
-
What are some of the health care market trends you can identify in your market? How might they affect your job as a manager, and how would you react to/prepare for them?
-
Give an account of sales situations where direct personal selling is likely to be more effective than other direct marketing techniques. Justify your answer by referring to specific practical...
-
Taylor Systems has just issued preferred stock. The stock has a 12% annual dividend and a $100 par value and was sold at $97.50 per share. In addition, flotation costs of $2.50 per share must be...
-
Blossom, Incorporated, is a small company that manufactures three versions of patio tables. Unit information for its products follow Sales price Direct materials Direct labor Variable manufacturing...
-
From the following data, construct the sales ledger and purchases ledger control accounts for the month of April 2011. Purchases ledger balances as at 1 April 2011 Credit sales for April Credit...
-
From the following data, construct the purchases ledger control account for the month of May 2014. Balances of trade payables at 1 May 2014 Balances of trade payables at 31 May 2014 For the month of...
-
How does an auditor decide how much evidence is sufficient?
-
Your company has just announced a 7 percent price increase on your entire product line and you are meeting with your most important customer. She announces that your competitor has already been to...
-
What are the advantages of using the Internet to conduct preliminary job interviews? What problems is a company that uses computer-aided interviewing likely to encounter?
-
You have made an appointment with a new potential customer. As you prepare for the presentation you realize this person has never purchased this kind of product before. What do you do?
-
In a year marked by turmoil in the global credit markets, Mars Corporation was able to negotiate a reverse breakup fee structure in its acquisition of Wrigley Corporation. This structure allowed Mars...
-
Once a salesperson sees one or more buying signals from a prospect, he or she should trial close. What happens if the prospect doesnt close at that point? Why is this outcome actually favorable for...
-
Human and political factors loom large in the success of projects. Given the general lack of coverage of this subject in engineering and science education, how might a PM gain the ability to deal...
-
H.J. Heinzs annual dividends were as follows: 1990 ..............$0.540 1991.............. 0.620 1992 .............. 0.700 1993.............. 0.780 1994 .............. 0.860 1995 .............. 0.940...
-
Discuss the life cycle of a product in terms of its probable impact on a manufacturers marketing mix. Illustrate using personal computers.
-
What characteristics of a new product will help it to move through the early stages of the product life cycle more quickly? Briefly discuss each characteristic illustrating with a product of your...
-
What is a new product? Illustrate your answer.
-
Please answer the following questions as you reflect on the above scenario. Be sure to answer each question adequately, thoroughly and concisely, while also aligning with the appropriate NAEYC Code...
-
This week, one of the assigned readings is an article by Pedro Serrador on Stakeholder Management. This article highlighted the importance of stakeholder management for project success. In addition...
-
Several years ago, Big Company acquired Small Company. As part of the acquisition, $ 5 , 0 0 0 in goodwill was recognized; this goodwill was assigned to Big Company s Internet Applications reporting...
Study smarter with the SolutionInn App