Control Accounts
Bayani Gaba-gaba
A business may owe, and be owed, money by hundreds of different people. Checking every single customer and supplier account by hand whenever the books go wrong would take days. A control account solves this by summarising a whole ledger in one place: the sales ledger control account mirrors every credit customer, and the purchases ledger control account mirrors every credit supplier. Its closing balance should equal the total of all the individual accounts it controls, so it acts as a fast, independent check on the arithmetic.
In this lesson you will learn what control accounts are for, where their figures come from, and how to draw up both the sales ledger and the purchases ledger control account including the trickier items: cash discounts, returns, irrecoverable debts, dishonoured cheques, interest on overdue accounts, contra entries and refunds. You will also see why the figures must come from the books of prime entry, and how digital recording is changing the role of these accounts.
Manufura
- the purposes of purchases ledger and sales ledger control accounts.
- the books of prime entry as sources of information for the control account entries.
- how to prepare purchases ledger and sales ledger control accounts to include credit purchases and sales, receipts and payments, cash discounts, returns, irrecoverable debts, dishonoured cheques, interest on overdue accounts, contra entries, refunds, opening and closing balances (debit and credit within each account).
- the impact of digital recording of business transactions on the preparation and use of control accounts.
Takardar Darasi
Akwai a cikin manhajar Green Bridge
Zazzage manhajar Green Bridge CBT a wayar ka ko kwamfyuta ka don samun cikakkiyar bayanan darasi, tambayoyin aiki, da ƙari.
Nazarin Darasi
Barka da kammala darasi akan Control Accounts. Yanzu da kuka bincika mahimman raayoyi da raayoyi, lokaci yayi da zaku gwada ilimin ku. Wannan sashe yana ba da ayyuka iri-iri Tambayoyin da aka tsara don ƙarfafa fahimtar ku da kuma taimaka muku auna fahimtar ku game da kayan.
Za ka gamu da haɗe-haɗen nau'ikan tambayoyi, ciki har da tambayoyin zaɓi da yawa, tambayoyin gajeren amsa, da tambayoyin rubutu. Kowace tambaya an ƙirƙira ta da kyau don auna fannoni daban-daban na iliminka da ƙwarewar tunani mai zurfi.
Yi wannan ɓangaren na kimantawa a matsayin wata dama don ƙarfafa fahimtarka kan batun kuma don gano duk wani yanki da kake buƙatar ƙarin karatu. Kada ka yanke ƙauna da duk wani ƙalubale da ka fuskanta; maimakon haka, ka kallesu a matsayin damar haɓaka da ingantawa.
- A sales ledger control account summarises the accounts of: A. Credit suppliers B. Credit customers C. Expenses D. Cash sales Answer: B
- From where must the figures for a control account be taken? A. The individual ledger accounts being checked B. The trial balance C. The books of prime entry D. The bank statement Answer: C
- In a sales ledger control account, a dishonoured cheque is entered on the: A. Credit side B. Debit side C. Both sides D. It is not entered Answer: B
- A contra entry between the two control accounts is: A. Debited in both B. Credited in both C. Credited in the sales ledger CA and debited in the purchases ledger CA D. Debited in the sales ledger CA and credited in the purchases ledger CA Answer: C
- A sales ledger control account has: opening balance $2 000 debit, credit sales $5 000, receipts $4 500, sales returns $300. The closing balance owed by customers is: A. $2 200 B. $2 800 C. $11 800 D. $7 800 Answer: A
Akwai a cikin manhajar Green Bridge
Zazzage manhajar Green Bridge CBT a wayar ka ko kwamfyuta ka don samun cikakkiyar bayanan darasi, tambayoyin aiki, da ƙari.
Akwai a cikin manhajar Green Bridge
Zazzage manhajar Green Bridge CBT a wayar ka ko kwamfyuta ka don samun cikakkiyar bayanan darasi, tambayoyin aiki, da ƙari.
Littattafan da ake ba da shawarar karantawa
Yi Aikin Tambayoyin Gwaji
Kana son yin aikin tambayoyin gwaji kan Control Accounts? Sauke manhajar Green Bridge CBT don samun tambayoyin gwaji da cikakkun jarrabawa akan wannan batu.
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Duk abin da kake buƙata don yin fice a JAMB, WAEC & NECO.
