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Control Accts 3

The document outlines the preparation of debtors and creditors control accounts for TK Tank for February 2023. It includes various transactions such as sales, purchases, cash received, payments to suppliers, and adjustments for returns, discounts, and bad debts. The final balances for the sales and purchases ledgers are also provided.

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11 views2 pages

Control Accts 3

The document outlines the preparation of debtors and creditors control accounts for TK Tank for February 2023. It includes various transactions such as sales, purchases, cash received, payments to suppliers, and adjustments for returns, discounts, and bad debts. The final balances for the sales and purchases ledgers are also provided.

Uploaded by

sc8ytfbfcg
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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From the extracts of TK Tank’s books, prepare:

a. A debtors control account


b. A creditors control account
2002 Sales Ledger $33 560 (Dr) 200 (Dr)
Feb 1 Purchases Ledger $210 (Dr) $21 400 (Cr)
Transactions for the month of February 2023:
$
Total cash sales 48 900
Total credit sales 52 800
Total cash purchases 7 600
Total credit purchases 34 700
Total cash and cheques received from debtors
Including $350 for bad debts recovered 66 950
Total payments to suppliers by cash and cheques 37 700
Sales Returns 490
Purchases Returns 640
Discount allowed 360
Discount received 510
Bad debts 520
Dishonoured Cheque 420
Interest charged by creditors 280
Refund 100
Transfer from Sales Ledger to Purchases 960
Balance:
Sales Ledger (Cr) 250
Purchases Ledger (Dr) 300

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