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WorksheetsControl Accounts
Total questions: 10
Worksheet time: 5mins
Which of the following is another term for creditors control account?
purchases account
payables account
debtors control account
purchases ledger control account
Which of the following is another term for debtors control account?
Receivable account
Sales account
Sales ledger control account
Creditor control account
A debtor was charged with the interest of $500, but no entry was made in the debtor control account. What would be the adjustment in the debtor control account?
$500 will be credited in the debtor control a/c
$500 will be debited in the debtor control a/c
$1000 will be credited in the debtor control a/c
$1000 will be debited in the debtor control a/c
The total of purchases return is entered on which side of a creditor control account?
Debit side
Credit side
No accounting required
None
Discount received is entered on which side of a creditor control account?
Debit side
Credit side
No accounting required
None
Which of the following would not appear in the Sales Ledger Control Account
Credit Sales
Cash sales
Receipts from credit customers
Bad debts
Which of the following will not appear in the Purchases Ledger Control Account
Payments to trade creditors
Credit purchases
Discount allowed
Returns outwards
Offset by contra is recorded by:
A debit in the Purchases Ledger control and a credit in the Sales Ledger control accounts.
A debit and a credit respectively in the account of the particular customer appearing in the Sales Ledger and in the Purchase Ledger
A debit in the Sales Ledger Control and a credit in the Purchase Ledger Control accounts
A combinations of entries in (a) above as well as in (d) below
At the beginning of an accounting period a firm owed it creditors $15,000. During the period, the firm’s credit purchases amounted to $87,000 and it paid $94,000 to its creditors. Assuming there were no other transactions relating to creditors, at the end of the accounting period the firm owed its creditors.
$7,000
$8,000
$14,000
$22,000
At the beginning of the accounting period, a firm is owed $900 by its debtors. At the end of the same accounting period the firm’s debtors owed $1,500. During the period, a bad debt of $100 was written off and $5,000 was received from debtors. The total of the firm’s credit sales for the period was:
$3,700
$4,200
$5,700
$5,900
