![]() ![]() These were as follows: Debit balance in debtors account 01/01/10 66,300 Credit balance in creditors account 01/01/10 50,600 Sunday credit balance on debtors ledger 724 Goods purchased on credit 257,919 Goods sold on credit 323,614 Cash received from debtors 299,149 Cash paid to suppliers 210,522 Discount received 2,663 Discount allowed 2,930 Cash purchases 3,627 Cash sales 5,922 Bad Debts written off 3,651 Interest on overdue account of customers 277 Returns outwards 2,926 Return inwards 2,805 Accounts settled by contra between debtors and creditors ledgers 1,106 Credit balances in debtors ledgers 31/12/10 815 Debit balances in creditors ledger 31/12/10 698 Required: a) Prepare the debtors control account as at 31/12/10. ![]() The company maintains a memorandum debtors and creditors ledger in which the individual account of customers and suppliers are maintained. ![]() So please make sure while attempting this exercise that you time yourself.ĭifficulty Rating: Intermediate -> Advanced Time limit: 30 minutes Question The following is a list of balances relating to Phiri Properties Ltd during 2010. Debtors and Creditors Control Accounts Exerciseīefore you begin: It's important when preparing for tests and exams to make sure you not only answer questions correctly but also do so at the right speed.
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