WorksheetsControl Accounts
Total questions: 10
Worksheet time: 26mins
Control account is set up in the ________.
Subsidiary Ledger
General Journal
General Ledger
Cash Book
What is the main purpose of preparing Control Accounts?
To simplify the procedure of recording Debtors and Creditors Ledger.
To ensure that the bookkeeper has recorded all the transactions correctly in Cash Book.
To enable General Ledger to be completed more speedily.
To improve the accuracy of recording individual debtors and creditors accounts
The balance of the Debtors Control Account did not agree with the balances in the Debtors Ledger. Which of the following statements are true?
I Sales Journal had been overstated.
II Goods returned from a customer had not been recorded in the books.
III A dishonoured cheque from a customer had not been recorded in the books.
IV A contra entry had been entered in the Debtors Ledger only.
I, II
I, IV
II, III
III, IV
The accounts that appear in the Sales Ledger are _________.
customers’ personal accounts
Suppliers’ personal accounts
Debtors Control Account
Sales and Sales Returns Accounts
How should the amount of bad debts written off be recorded in Sales Ledger Control Account?
Debited to the account
Credited to the account
Carried down in the account
Debited and credited to the account
In a firm’s Sales Ledger, there is a credit balance of RM 2,568 in ABC Company’s account. What does this mean?
A cheque of RM 2,568 issued by ABC Company was dishonoured.
RM 2,568 owed by ABC Company is a bad debt.
The firm owed RM 2,568 to ABC Company.
ABC Company owed RM 2,568 to the form.
The following information related to a firm :
Balance as at 1 January 2013 :
Debtors RM 50,000; Allowance For Doubtful Debts RM 5,000
The following are the balances extracted from the books of the firm for the year 2013:
Credit Sales RM 100,000; Cash Sales RM 80,000; Receipts from credit customers RM 75,000; Bad Debts written off RM 2,000.
What is the balance of the firm’s Debtors Control Account as at 31 December 2013?
RM 43,000
RM 68,000
RM 73,000
RM 153.000
The following shows the information of a company for the year ended 31 Dec 2014:
Debtors Control Account, 1 Jan 2014 RM 4,410
Allowance For Doubtful Debts, 1 Jan 2014 RM 200
Increase in Allowance For Doubtful Debts RM 20
Discounts Allowed RM 120
Bad Debts Written Off RM 150
Sales (including cash sales of RM 5,600) RM 9,200
Receipts from debtors RM 3,240
What is the balance of the Debtors Control Account on 31 Dec 2014?
RM 4,480
RM 4,500
RM 9,880
RM 10,100
The item “Purchases” that is entered in the Purchases Ledger Control Account refers to which of the following items?
Total cash purchases
Total cash purchases and total credit purchases
Total credit purchases after deducting purchases returns
Total credit purchases before deducting purchases returns
How do you record an overpayment refunded by suppliers in Purchases Ledger Control Account?
The account is debited.
The account is credited.
The account is debited with double amount.
The account is credited with double amount.
