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Control accounts

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Control accounts

  • This topic has 1 reply, 2 voices, and was last updated 3 years ago by John Moffat.
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  • Author
    Posts
  • October 26, 2021 at 1:44 pm #639142
    tartar
    Member
    • Topics: 1
    • Replies: 0
    • ☆

    QUESTION 12
    a) The following information was taken from the books of Tafadzwa Dealers, a sole
    proprietorship for the month of December 2018.
    $
    Balances at 1st December
    Debtors Ledger debit 42 500
    Debtors Ledger credit 1 600
    Creditors Ledger Credit 19 200
    Creditors Ledger debit 510
    Credit Sales 111 200
    Credit Purchases 86 400
    Cash Sales 37 160
    Cash Purchases 22 500
    Provision for doubtful debts 1 800
    Cash received from debtors 103 600
    Cash paid to creditors 82 700
    Purchases Returns 3 600
    Sales Returns 4 200
    Cash Discount Received 5 150
    Bad debts written off 1 700
    Discount Allowed 6 400
    Contras” between Debtors & Creditors Ledger 2
    600
    Provision for Discount Allowed 1 800
    Balance at 31st December 2018
    Debtors Ledger (Credit) 800
    Creditors Ledger (Debit) 350
    REQUIRED:
    Prepare for the month of December 2018, the Debtors Ledger Control and Purchases
    Ledger Control accounts. [12]

    October 26, 2021 at 2:57 pm #639150
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54699
    • ☆☆☆☆☆

    Please do not simply type out a full question and expect to be provided with a full answer. You must have an answer in the same book in which you found the question, so ask about whatever it is in the answer that you are not clear about and then I will explain.

    Everything needed to answer this question is covered in my free lectures on Control Accounts (and I actually work through a very similar example to this one). The lectures are a complete free course for Paper FA and cover everything needed to be able to pass the exam well.

    (Obviously you cannot be asked to prepare the accounts in the exam, but you are expected to understand each of the necessary entries.)

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