NEW
Font size
WorksheetsControl Account
Total questions: 10
Worksheet time: 8mins
X maintains a control account for his sales ledger. What is the purpose of this control account?
to calculate the amount owed to suppliers
to calculate the accuracy of the sales ledger
to calculate total sales
to make the trial balance totals agree
What would appear in a Purchases Ledger Control account?
returns outward
cash purchases
refund to credit customer
discounts allowed
Which would not appear in a sales ledger control account?
returns inwards
cash sales
customer's cheque dishonoured
Irrecoverable debts
Which would not appear in a purchases ledger control account?
payments to suppliers
Cash purchases
interest charged by suppliers
discount received
What are the sources of information for entries in control accounts?
ledger accounts
sales invoices
books of prime entry
bank statements
What does a debit balance on a sales ledger control account represent?
amount owed by customers
total sales
amount owed to customers
total credit sales
On 1 August Lim owes his suppliers $16 000. The purchases journal for August totalled $25 000. Payments to suppliers during the month amounted to $27 000. There were no cash purchases.
How much is owed by Lim to his suppliers on 31 August?
$2 000
$14 000
$18 000
$52 000
The sales ledger control account had a balance of $125 000 at the beginning of the month, and a balance of $105 000 at the end of the month. The credit sales were $75 000. How much was paid by the customers?
$50 000
$95 000
$155 000
$75 000
Which does not appear in a purchase ledger control account?
goods returned to suppliers
discount received
irrecoverable debts
interest charged by suppliers
Which would appear in a purchases ledger control account?
cash received from customers
cash paid to suppliers
cash purchases
cash discount allowed
