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Review Questions Volume 1 - Chapter 31

This document provides sample data for review questions about preparing sales ledger and purchases ledger control accounts. It includes data on opening and closing balances, transactions during the period (sales/purchases, receipts/payments, returns, discounts), and set-offs between the ledgers. The questions require using the data to prepare the control accounts for specific periods.

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244 views2 pages

Review Questions Volume 1 - Chapter 31

This document provides sample data for review questions about preparing sales ledger and purchases ledger control accounts. It includes data on opening and closing balances, transactions during the period (sales/purchases, receipts/payments, returns, discounts), and set-offs between the ledgers. The questions require using the data to prepare the control accounts for specific periods.

Uploaded by

Yelenochka
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOC, PDF, TXT or read online on Scribd
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Review Questions

Volume 1 - Chapter 31

1. You are require to prepare a sales ledger control account from the following
for the month of April:

20X3 £
April 1 Sales ledger balances 5,554
Totals for April:
Sales daybook 18,776
Returns inwards daybook 790
Cheques and cash received 19,443
Discounts allowed 1,105
April 30 Sales ledger balances 2,992

2. You are required to prepare a purchases ledger control account from the
following for the month of July

20X8 £
July 1 Purchases ledger balances 15,733
Totals for July:
Purchases daybook 34,677
Returns outwards daybook 2,045
Cheques and cash paid to suppliers 40,087
Discounts received 3,455
July 31 Purchases ledger balances 4,823

3. From the following data, prepare control accounts for both the purchases
ledger and the sales ledger.

20X9 £
March 1 Purchases ledger balances 4,388
March 1 Sales ledger balances 5,677
Totals for March:
Sales daybook 46,998
Purchases daybook 35,444
Cheques and cash paid to suppliers 31,010
Discounts received 492
Discounts allowed 890
Sales ledger balances set-off against purchases ledger balances 500
Returns outwards daybook 575
Bad debts 350
Returns inwards daybook 4,333
Cash and cheques received from customers 4,1200
March 31 Purchases ledger balances ?
March 31 Sales ledger balances ?
4. You are required to prepare a sales ledger control account from the following
information for the month of October.

20X3 £
Oct 1 Balance of debtors 3,421

Totals for October:


Sales daybook 43,435
Receipts from debtors 41,111
Returns inwards 462
Bad debts 123
Discounts allowed 312
Set-offs 611
Oct 31 Balance of debtors at end 4,237

5. You are required to prepare a purchases ledger control account from the following
information for the month of May

20X1 £
May 1 Balance of creditors 2,279

Totals for May


Purchases daybook 34,419
Payments to creditors 31,989
Returns outwards 413
Discounts received 878
Set-offs 611
May 31 Balance of creditors at end 2,807

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