Answer To Accounting Test No CO 2 On Control Accounts
Append below the answer to Accounting Test No CO 2 on Control Accounts:
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ANSWER To Accounting Question No. CO 2 On Control Accounts (a) Purchases & Sales Ledger Control Accounts:
Purchases Ledger Control Account
Sales Ledger Control Account
(b) Balance Sheet Of Jim at 31 st July 2008
Workings: 1. Debtors balance =$19,865-$287= $19,578 2. Creditors balance=$17,373-$212= $17,161 (c) By keeping the Sales Ledger Control into six parts according to sales areas and to keep Control Account for each part, Jim would then know the total sales and debtors balances for each sales area during an accounting period. |
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