Control Accounts
Gbogbo ọrọ náà
A business with hundreds of credit customers keeps hundreds of individual accounts in its sales ledger. Checking every single one for posting errors would take days. A control account answers the same question in one calculation: does the total owed by all those customers, calculated independently, agree with the sum of the individual balances?
In this lesson you will learn why control accounts are prepared, and how to prepare a trade receivables control account and a trade payables control account that reconcile to their respective ledgers.
Ebumnobi
- Explain the purpose of control accounts
- Prepare a trade receivables control account and a trade payables control account
Maapụ uche
E seela isiokwu a ka ị hụ otu echiche si ejikọta.
Mepee maapụ uche na ngwa
Kaadị ncheta
Omume ncheta ngwa ngwa n'ihe a na-anwale n'isiokwu a.
Mee omume kaadị ndị a na ngwa
Akwụkwọ Ọmụmụ
Ndetu Nkuzi Zuru Ezu di na Ngwa Green Bridge
Nweta ngwa Green Bridge CBT na ekwenti gi ma o bu kompiuta maka ulo akwukwo IGCSE zuru oke: akwukwo ule ndi gara aga, usoro nyocha, eserese uche, kaadi omumu na nkuzi olu.
Nnyocha Ọmụmụ
Ekele diri gi maka imecha ihe karịrị na Control Accounts. Ugbu a na ị na-enyochakwa isi echiche na echiche ndị dị mkpa, ọ bụ oge iji nwalee ihe ị ma. Ngwa a na-enye ụdị ajụjụ ọmụmụ dị iche iche emebere iji kwado nghọta gị wee nyere gị aka ịmata otú ị ghọtara ihe ndị a kụziri.
Ị ga-ahụ ngwakọta nke ụdị ajụjụ dị iche iche, gụnyere ajụjụ chọrọ ịhọrọ otu n’ime ọtụtụ azịza, ajụjụ chọrọ mkpirisi azịza, na ajụjụ ede ede. A na-arụpụta ajụjụ ọ bụla nke ọma iji nwalee akụkụ dị iche iche nke ihe ọmụma gị na nkà nke ịtụgharị uche.
Jiri akụkụ a nke nyocha ka ohere iji kụziere ihe ị matara banyere isiokwu ahụ ma chọpụta ebe ọ bụla ị nwere ike ịchọ ọmụmụ ihe ọzọ. Ekwela ka nsogbu ọ bụla ị na-eche ihu mee ka ị daa mba; kama, lee ha anya dị ka ohere maka ịzụlite onwe gị na imeziwanye.
- What is the main purpose of a control account? A) To record cash sales B) To provide an independent check on the total of a ledger C) To calculate profit D) To list non-current assets Answer: B
- On which side of a trade receivables control account does 'discount allowed' appear? A) Debit B) Credit C) It does not appear D) Both sides Answer: B
- A trade receivables control account has opening balance $12,000, credit sales $60,000, and deductions totalling $58,500. What is the closing balance? A) $70,500 B) $13,500 C) $46,500 D) $1,500 Answer: B
- On which side of a trade payables control account does a payment to a supplier appear? A) Debit B) Credit C) It does not appear D) Both sides Answer: A
- A contra entry between the sales ledger and purchases ledger is used when: A) A customer pays by cheque B) The same business is both a customer and a supplier C) An irrecoverable debt is written off D) A discount is given Answer: B
Rue ajuju ndi a n'ime ngwa ahu
Rue ajuju ndi a n'ime ngwa ahu
Akwụkwọ A Na-atụ Aro
Mụtakwuo ihe site na isi mmalite mepere emepe
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Akụkụ akwụkwọ
Describe and Explain the Purpose of Special Journals and Their Importance to Stakeholders
"Principles of Accounting, Volume 1: Financial Accounting: Describe and Explain the Purpose of Special Journals and Their Importance to Stakeholders" by OpenStax, OpenStax, Rice University, licensed under CC BY-NC-SA 4.0 (https://creativecommons.org/licenses/by-nc-sa/4.0/). Source: https://openstax.org/books/principles-financial-accounting/pages/7-2-describe-and-explain-the-purpose-of-special-journals-and-their-importance-to-stakeholders. Access for free at https://openstax.org/books/principles-financial-accounting/pages/1-introduction
Ndị otu ndị ọzọ bipụtara ha n'okpuru ikike mepere emepe, anyị na-ekele ha dị ka ha si chọọ. Njikọ na-emepe saịtị ha.
Meecha Ajụjụ Ule Ọmarịcha
Ị chọrọ ime ajụjụ ule ọmarịcha gbasara Control Accounts? Budata ngwa Green Bridge CBT iji nweta ajụjụ ule ọmarịcha na nyocha zuru ezu gbasara isiokwu a.
Budata Ngwa Ahụ Na Google Playstore
Ihe nile ichoro iji nwee ihe ịga nke ọma na JAMB, WAEC & NECO.
