Control account
Question 1 Spam
Sales ledger control account
$ $
Bal b/d 9 506 Bal b/d
Credit sales 20 345 Sales return 120
Dishonoured 250 Receipts 19 580
cheques
Interest on overdue 70 Discount allowed 210
account
Bal c/d 64 Bad debts 155
Contra 350
Bal c/d 9 820
30 235 30 235
Purchases ledger control account
$ $
Purchases return 180 Bal b/d 2 580
(90 % x 200)
Payments 5 170 Credit purchases 6 480
(7 200 x 90 %)
Discount received 190 Refund from suppliers 60
Contra 350 Bal c/d 40
Bal c/d 3 270
9 160 9 160
Question 2 Popo Ltd
Sales ledger control account
$ $
Bal b/d 7 190 Bal b/d
Credit sales 46 300 Sales return 1 070
Interest on overdue 20 Receipts 38 900
account
Discount allowed 1 060
Contra 90
Bal c/d 12 390
53 510 53 510
Purchases ledger control account
$ $
Purchases return 940 Bal b/d 4 120
Payments 28 100 Credit purchases 29 900
Discount received 760 Interest on overdue a\c 10
contra 90
Bal c/d 4 140
34 030 34 030
Question 3 Ryan Bond
b)
Purchases ledger control account
$ $
Purchases return 135 Bal b/d 1 960
Payments 3 830 Credit purchases 4 190
Discount received 180
Bal c/d 2 005
6 150 6 150
Sales ledger control account
$ $
Bal b/d 1 750 Bal b/d 100
Credit sales 5 150 Sales return 270
Refund for 100 Receipts 4 990
overpayment
Discount allowed 110
Bad debts 74
Bal c/d 1 456
7 000 7 000
Question 4 Sunny
Corrected Sales Ledger control account
$ $
30 Sept Bal b/d 19 900 Bad debts 260
Sales day book undercast 200 Set off omitted 340
Interest on overdue 40 Bal c/d 19 540
20 140 20 140
Statement to correct total of sales ledger balances
$
Balance as per sales ledger 18 100
Add customer balance undercast (540 – 500) 40
Less sales return debited to customer account (140)
Less discount allowed not recorded in customer account (60)
Add customer balance omitted from the list 1 600
Corrected total of sales ledger balances 19 540
Question 5 Brenda
Adjusted Purchases ledger control account
$ $
Credit Purchases 200 Bal b/d 21 600
overcast
Bal c/d 22 550 Credit purchases 1 150
omitted
22 750 22 750
Statement adjusting ledger balance to reconcile with control account balance
$
Trade payables balance as per purchases ledger 21 310
Less discount received recorded on wrong side of Jack’s account (60)
Add credit purchase not recorded in Baros 1 150
Add Tom’s balance omitted from list 150
Adjusted trade payables balance as per purchases ledger 22 550
Question 6 Dream Beds
Adjusted Sales ledger control account
$ $
Bal b/d 63 530 Bad debts 850
Interest on overdue 30 Set off\contra 1 980
Credit sale overcast 400
Credit sale return 1 600
undercast
Bal c/d 58 730
63 560 63 560
Statement adjusting ledger balance to reconcile with control account balance
$
Trade receivables balance as per sales ledger 61 140
Add credit sales undercast in John’s account in sales ledger (750 – 570) 180
Less discount allowed entered on wrong side of Beach A/c (240)
Less set off omitted (1 980
Add interest on overdue not yet recorded 30
Less goods sent on sale or return basis to Majid recorded as credit sale (400)
Adjusted sales ledger balances 58 730
Question 7 (following transactions)
Adjusted Sales ledger control account
$ $
Bal b/d 26 153 Bal b/d (minority) 150
Dishonoured cheque 2 000 Bad debts 1 250
Credit sales undercast 1 800 Set off\contra 420
(7 500 – 5 700)
Bal c/d (100 + 150) 250 Return inwards undercast 800
(minority)
Bal c/d 27 583
30 203 30 203
Statement adjusting sales ledger balance to reconcile with control account balance
$
Trade receivables balance as per sales ledger 28 503
Less cheque received not recorded on Brown account (120)
Less sales return not recorded (800)
Adjusted sales ledger balances 27 583
Question 8 Electra
Sales ledger control account
$ $
Bal b/d 56 000 Receipts-Bank 676 000
Credit sales 800 000 Receipts -cash 1 000
Dishonoured 2 000 Discount allowed 20 000
cheques
Contra 4 000
Bal c/d 157 000
858 000 858 000
Adjusted Sales ledger control account
$ $
Bal b/d 157 000 Sales overcast 1 000
Discount allowed 700
undercast
Return inwards undercast 2 000
Bal c/d 153 300
157 000 157 000
Statement adjusting sales ledger balance to reconcile with control account balance
$
Trade receivables balance as per sales ledger 156 125
Less goods sent on sale or return basis recorded as sale (1 000)
Less contra entry omitted in customer account (85 % x 500) (425)
Less Return inwards omitted (2 000)
Add dishonoured cheques 600
Adjusted sales ledger balances 153 3000
Number 9 Trimsaran
Purchases ledger control account
$ $
Bal b/d 9 600 Bal b/d 126 850
Payments –cash 135 400 Credit purchases 1 645 600
Payments -cheque 1 297 500
Return outwards 147 900
Contra 37 680
Discount received 33 250 Bal c/d (Dr balance) 10 300
Bal c/d ([Link]) 121 420
1 782 750 1 782 750
Adjusted Purchases ledger control account
$ $
Bal b/d 10 300 Bal b/d 121 420
Return outwards 16 270 Discount received 4 250
omitted completely overcast
Return outwards 5 200 Bal c/d 10 300
journal understated
Bal c/d (balancing 104 200
figure
135 970 135 970
Statement adjusting ledger balance to reconcile with control account balance
$
Trade payables balance as per purchases ledger 150 100
Less payment omitted from purchases ledger (ie supplier account) (43 500)
Less Return outwards omitted completely (16 270)
Add credit purchases not recorded in purchases ledger 13 870
Adjusted trade payables balance as per purchases ledger 104 200
Question 10 Jean
Adjusted Purchases ledger control account
$ $
Purchases overcast 1 000 Bal b/d 19 950
Bal c/d 19 800 Purchases omitted 850
20 800 20 800
Statement adjusting ledger balance to reconcile with control account balance
$
Trade payables balance as per purchases ledger 18 960
Add purchases omitted 850
Less discount received recorded on wrong side (40)
Add balance omitted from listing 90
Less return outwards omitted in supplier account (60)
Adjusted trade payables balance as per purchases ledger 19 800
Question 11 Janet
Adjusted Sales ledger control A/c
Bal b/d 18 060 Bad debt 200
Interest on overdue 30 Set off\Contra 310
Sales undercast 10 Return inwards 90
Bal c/d 17 500
18 100 18 100
Statement adjusting sales ledger balances
Total balances from sales ledger 17 040
Add Customer balance omitted from list 750
Less discount allowed not recorded in customer account (60)
Less Return inwards not recorded in customer account (90)
Less return inwards debited to Kevin account (140)
17 500
Number 12 Litz
Sales ledger control account
$ $
Bal b/d 137 760 Bal b/d 3 200
Credit sales 1 209 600 Receipts –cheques 1 058 400
Dishonoured 7 000 Receipts – cash 8 400
cheques
Sales return 14 000
Discount allowed 2 520
Contra 12 320
Bad debts 7 800
Bal c/d ([Link]) 247 720
1 354 360 1 354 360
Adjusted Sales ledger control account
$ $
Bal b/d 247 720 Return inwards 2 900
Discount allowed 1 000 Bad debts 5 200
overcast
Dishonoured 9 800 Bal c/d 250 420
cheque
258 520 258 520
Statement adjusting ledger balance to reconcile with control account balance
Adjustment $
Trade receivables balance as per sales ledger 246 120
1 Less return inwards not recorded at all (2 900)
3 Less contra entry not effected in in customer account (2 160)
(2 400 – 10 % x 2 400)
4 Add credit sale not recorded in customer account 4 760
5 Add dishonoured cheques 9 800
6 Less bad debts not recorded at all (5 200)
Adjusted sales ledger balance 250 420
Question 13: Harvey Rabbit
Sales ledger control account
Bal b/d 29 040 Sales return 9 878
Credit sales 499 892 Receipts 462 680
Dishonoured cheques 662 Discount allowed 21 404
Bad debts 9 510
Contra 1 153
Bal c/d 24 969
529 594 529 594
Adjusted SLC
$ $
Bal b/d 24 969 Sales overcast 420
Discount allowed overstated 310 Return inwards undercast 420
Sales undercast (invoice 998 Contra omitted 698
omitted)
Sales undercast 3 856
Bal c/d 28 595
30 133 30 133
Statement to adjust ledger balance
$
Balance as per sales ledger 26 845
1 Less return inwards recorded as sale in customer account (420 + 420) (840)
4 Add Sales undercast (invoice omitted) 998
5 Add debit balance omitted from list of trade receivables 2 102
6 Less bad debt not recorded in customer account (896)
7 Less receipt omitted from customer account (630)
8 Add credit sale not posted from journal to customer account 816
9 Add sales ledger account balance(customer balance) understated 200
Corrected sales ledger balance 28 595
Question 14 Vikings Ltd
Adjusted SLC
$ $
Bal b/d 16 351 Bal b/d 2 699
Sales day book 300
overcast
Bal c/d (2 699 + 350) 3 049 Receipts omitted 275
Bal c/d 16 126
19 400 19 400
Statement to adjust ledger balance
$
Balance as per sales ledger 16 021
2 Add dishonored cheque recorded on credit side as $717 instead of $177 on debit 894
side
3 Less bad debts not recorded in sales ledger (514)
5 Less receipts omitted completely from the books (275)
Corrected sales ledger balance 16 126
15 Charles Quant
Adjusted SLC
$ $
Bal b/d 78 260 Credit Sales overcast 500
Dishonoured cheque omitted 3 680 Return inwards undercast 1 200
Credit sale omitted 6 100 Discount allowed 740
undercast
Bal c/d 85 600
88 040 88 040
Statement to adjust ledger balance
$
Balance as per sales ledger 73 500
3 Add Credit sale not posted to Robert account 3 000
5 Add Cheque dishonoured omitted 3 680
6 Add credit sale omitted 6 100
7 Less contra entry omitted in lisa account (85 % x 800) (680)
Adjusted sales ledger balance 85 600
