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WorksheetsChapter 16 Control accounts
Total questions: 13
Worksheet time: 7mins
A credit sales of goods is recorded under which control account and what will the particulars of the transaction be in that control account?
Trade receivables control account as Purchases
Trade payables control account as Sales
Trade receivables control account as Sales
Trade payables control account as Purchases
A credit purchase of goods is recorded under which control account and what will the particulars of the transaction be in that control account?
Trade payables control account as Cost of sales
Trade payables control account as Purchases
Trade receivables control account as Sales
Trade receivables control account as Cost of sales
Returns to suppliers which were made on credit is recorded under the trade payables control account. What will the particulars be recorded as?
Sales returns
Purchase returns
Inventory
Suppliers
Cheques received from customers is recorded under which control account and what will the particulars be recorded as?
Trade receivables control account as Cash at bank
Trade receivables control account as Sales revenue
Trade payables control account as Trade receivables
Trade payables control account as Inventory
Discount received is recorded under which control account?
Trade receivables control account
Trade payables control account
The offset between trade payables and trade receivables is recorded under which control account?
Trade payables control account only
Trade receivables control account only
Both control accounts
Harpreet is a credit customer of Suzanna. Harpreet’s account in Suzanna’s books shows a credit balance.
How could the credit balance have arisen?
A cheque from Harpreet was dishonoured.
Harpreet has overpaid his account.
Interest was charged by Suzanna.
Suzanna offered a trade discount.
State the main purpose of control accounts - to act as independent check on accuracy of entries in
Subsidiary ledgers
General ledgers
General Journal
Trial Balance
The balances from the control accounts are used to draw up the
Trial Balance and Balance Sheet
General Journal and Sales Journal
General Ledger and Subsidiary Ledger
Income Statement and Balance Sheet
Name the Ledger in which Trade receivables control account is found.
Sales Ledger
Purchases Ledger
General Ledger
General Journal
Name the Ledger in which Trade payable - Jill account is found.
Sales Ledger
Purchases Ledger
General Ledger
General Journal
Name the Ledger in which Sales revenue account is found.
General ledger
Trade receivables ledger
Trade payables ledger
General Journal
State the journal from where discount allowed in trade receivables control account is posted from.
Petty cash book
Cash book
General journal
Sales journal
