Scribd Logo
Upload

Welcome to Scribd!

  • PLCA and SLCA Practise Questions

    Uploaded by

    Shoug
    129 views2 pages
    Ayesha, a trader, maintains accounting records and control accounts. In July 2021: - Sales were $90,850 while purchases were $53,400. Receipts were $83,100 and payments were $55,600. - Additional details include discounts received/allowed of $500/$950, debt write-offs of $350, and provision for doubtful debts of $400. - Reconciling items between the sales and purchases ledgers totaled $2,820.

    Original Description:

    Original Title

    PLCA and SLCA practise questions

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    Ayesha, a trader, maintains accounting records and control accounts. In July 2021: - Sales were $90,850 while purchases were $53,400. Receipts were $83,100 and payments were $55,600. - Additional details include discounts received/allowed of $500/$950, debt write-offs of $350, and provision for doubtful debts of $400. - Reconciling items between the sales and purchases ledgers totaled $2,820.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    129 views2 pages

    PLCA and SLCA Practise Questions

    Uploaded by

    Shoug
    Ayesha, a trader, maintains accounting records and control accounts. In July 2021: - Sales were $90,850 while purchases were $53,400. Receipts were $83,100 and payments were $55,600. - Additional details include discounts received/allowed of $500/$950, debt write-offs of $350, and provision for doubtful debts of $400. - Reconciling items between the sales and purchases ledgers totaled $2,820.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 2

    Ayesha is a trader who maintains a full set of accounting records and prepares control accounts at

    the end of each month.


    She provided the following information for the month of July 2021.
    $
    On 1 August
    Sales ledger control account debit balance 8 800
    Sales ledger control account credit balance 520
    Purchases ledger control account credit balance 8 700
    Totals for the month
    Credit sales 90 850
    Credit purchases 53 400
    Cash purchases 1 560
    Receipts from customers 83 100
    Payments to credit suppliers 55 600
    Discount received 500
    Discount allowed 950
    Irrecoverable debt written off 350
    Provision for doubtful debts 400
    Sales returns 2 500
    Interest charged to customer on overdue account 80
    Contra between sales ledger and purchases ledger 2 820

    The sales ledger control account credit balance brought down on 1 August 2021 was $250.

    Sales ledger control account

    Date Details $ Date Details $

    1st August Sales Ledger Control 8800 1st Bal / CD 250


    Account August

    1st August Credit Sales 520 1st Sales Ledger Control 520
    August Account
    1st August Discount Received 500
    1st Receipts from Customers 83,100
    1st August Irrecoverable debts written 350 August
    off
    1st Payment to Credit Suppliers 55,600
    1st August Interest charged to August
    customer on overdue 80
    account 1st Discount Allowed 950
    August

    !st Provision for doubtful debts 400


    August

    1st Sales Returns 2,500


    August

    1st Contract between Sales


    August ledger and Purchases ledger 2,820

    10,250 146,140

    Purchases ledger control account

    Date Details $ Date Details $

    1st August Contract between Sales 2820 1st Purchases Ledger Account 8,700
    ledger and Purchase ledger August

    1st Credit Purchases 53,400


    August

    !st Cash Purchases 1,560


    August
    2820 55,600

    You might also like