The following information has been extracted from the books of a trader at 1 July 20X8: Required
Question:
The following information has been extracted from the books of a trader at 1 July 20X8:
Required
Write up the sales ledger control account and the purchases ledger control account for the year ended 30 June 20X9.
Transcribed Image Text:
Amount owing by credit customers Amount owing by credit suppliers The transactions during the year ended 30 June 20X9 were as follows: Returns inwards Returns outwards Discount received Discount allowed Sales revenue Purchases Irrecoverable receivables written off Cheques received from credit customers Cheques paid to credit suppliers £ 40,000 31,200 15,750 8,660 3,187 5,443 386,829 222,954 3,400 230,040 108,999
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (12 reviews)
Sales Ledger Control Account Date Description Debit ...View the full answer
Answered By
Labindao Antoque
I graduated in 2018 with a Bachelor of Science degree in Psychology from Dalubhasaan ng Lungsod ng San Pablo. I tutored students in classes and out of classes. I use a variety of strategies to tutor students that include: lecture, discussions about the subject matter, problem solving examples using the principles of the subject matter being discussed in class , homework assignments that are directed towards reinforcing what we learn in class , and detailed practice problems help students to master a concept. I also do thorough research on Internet resources or textbooks so that I know what students need to learn in order to master what is being taught in class .
0.00
0 Reviews
10+ Question Solved
Related Book For
Introduction To Financial Accounting
ISBN: 9781526803009
9th Edition
Authors: Anne Marie Ward, Andrew Thomas
Question Posted:
Students also viewed these Business questions
-
The books of K. Wills include three ledgers comprising the general ledger, sales ledger and purchases ledger. The general ledger contains sales ledger and purchases ledger control accounts as part of...
-
The following information has been extracted from the draft financial statements of TEX, a manufacturing entity: TEX - Income statement for the year ended 30 September 2003 September 2003...
-
The following information has been obtained from the books of Tom Limited for the year ended 31 December 2019: Opening payables control account balance at 1 January 2019 Cheque payments to payables...
-
For the attractive-nuisance doctrine to apply, the possessor need not be aware that children are likely to trespass on his land or have reason to know that the condition poses an unreasonable risk of...
-
Using the same information as the previous question, draw payoff and profit diagrams for a short position in the stock. Verify that profit is 0 at a price in 1 year of $55. Discuss.
-
What programs do you suggest County General might implement to decrease nurse turnover?
-
Determine the maximum distributed load that can be applied to the bar so that the \(\mathrm{A}-36\) steel strut \(A B\) does not buckle. The strut has a diameter of 2 in. It is pin connected at its...
-
On March 20, Dodys petty cash fund of $100 is replenished when the fund contains $9 in cash and receipts for postage $52, freight-out $26, and travel expense $10. Prepare the journal entry to record...
-
Novak Corp. owns and operates a number of outdoor clothing retail stores in the Pacific Northwest. Recently, the company has decided to locate another store in a rapidly growing area of Idaho. The...
-
1. Identify the different power issues going on in the case. What types of power do the different parties have? Explain. 2. How are individuals reacting to their power or lack thereof? 3. What types...
-
The bank statement for G. Graduate for the period ended 30 June 20X9 was received. On investigation it emerged that the balance per the statement was different to the balance per the cash book. The...
-
The books of original entry for James Plc showed the following for the month ended 31 March 20X9: Previous trade receivable/trade payable balances were 53,450/42,150. Required Prepare the sales...
-
In Exercise, determine the measure of x. 105 133
-
In mammals, sex is determined by a. the SRY gene on the Y chromosome. b. having two copies of the X chromosome. c. having one copy of the X chromosome. d. both a and c.
-
The role of cohesin is to a. make chromosomes more compact. b. allow for the replication of chromosomes. c. hold sister chromatids together. d. promote the separation of sister chromatids.
-
In fruit flies, dosage compensation is achieved by a. X-chromosome inactivation. b. doubling the expression of genes on the single X chromosome in the male. c. halving the expression of genes on each...
-
An abnormal fruit fly has two sets of autosomes and is XXY. Such a fly is a. a male. c. a hermaphrodite. b. a female. d. none of the abo
-
With regard to linked genes on the same chromosome, which of the following statements is false? a. Crossing over is needed to produce nonrecombinant offspring. b. Crossing over is needed to produce...
-
Identify the two key advantages of each of the six candidates. Identify their two key liabilities. Rank-order the candidates, from most to least qualified, for the position of managing director of...
-
Refer to Example 9.15. Add the following functionality to this program: Allow the user to enter the cost of a gallon of gas on each trip and use a function, Cost() to calculate the cost of purchasing...
-
The trial balance of Harmonica Ltd at 31 December 20X1 is given below. Additional information 1. Closing inventory amounted to 5m. 2. A review of the trade receivables total of 6.9m showed that it...
-
The following balances existed in the accounting records of Koppa Ltd. at 31 December 20X2: _____________________________________________________________'000 Development costs capitalized, 1 January...
-
Topaz Ltd makes up its financial statements regularly to 31 December each year. The company has operated for some years with four divisions; A, B, C and D, but on 30 June 20X1 Division B was sold for...
-
Identify one type of business and describe that business and it's lending needs. Then describe what their potential lending needs may? Manufacturing Retail Wholesale Service Construction
-
Many investors believe the slope of yield curve is a leading economic indicator. Do you agree? Why? https://home.treasury.gov/policy-issues/financing-the-government/interest-rate-statistics?
-
Analyze the process for monitoring claims data for detecting potential fraud and abuse and describe how it is a crucial financial management process?
Study smarter with the SolutionInn App