Chapter 7 control account

Question 1
Sales Control Account
Nov-01 Balances b/d 23220 Nov-30 Return inwards 826
Nov-30 Sales 14194 Cheque and cash 17918
Discount allowed 312
Balances c/d 18358

37414 37414

Dec-01 Balances b/d 18358

Question 2

Sales control account

Jan-01 Balances b/d 28227 Dec-31 Return inwards 3618
Dec-31 Sales 305824 Cheque and cash received 287317
Discount allowed 4102
Contra 972
Balances c/d 38042

334051 334051

Jan-01 Balances b/d 38042

Purchases control account

Dec-31 Return outwards 1452 Jan-01 Balances b/d 19420
Cheques paid 205419 Dec-31 Purchases 210416
Petty cash paid 62
Discount received 1721
Contra 972
Balances c/d 20210

229836 229836
Jan-01 Balances b/d 20210
Question 3

Sales control account

Dec-01 Balances b/d 20040 Dec-01 Balances b/d 56
Dec-31 Sales 124600 Dec-31 Cheque received 119930
Balances c/d 37 Bad debts 204
Discount allowed 3480
Return inwards 1063
Contras 438
Balances c/d 19506
144677 144677

Purchases control account

Dec-01 Balances b/d 12 Dec-01 Balances b/d 14860
Dec-31 Cheque 93685 Dec-31 Purchases 95580
Discount received 2850 Balances c/d 26
Return outwards 240
Contras 438
Balances c/d 13241
110466 110466

Question 4

Sales control account

Jan-01 Balances b/d 235648 Jan-01 Balances b/d 154
Credit sales 517050 Bad debts 15050.88
Dishonoured cheque 2500 Discount allowed 1654
Balances c/d 4850 Return inwards 8700
Cheque received 458123
Contras 5460
Balances c/d 270906

760048 760048
Jan-01 Balances b/d 270906 Jan-01 Balances b/d 4850
 Purchases control account
Jan-01 Balances b/d 20962 Jan-01 Balances b/d 284486
Discount received 3154 Credit purchases 493200
Return outwards 850
Cheque paid 330444
Contras 5460
Balances c/d 416816

777686 777686
Jan-01 Balances b/d 416816