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
Akọmọ Ojú-ẹkọ
Ọ dị na ngwa Green Bridge
Budata ngwa Green Bridge CBT na ekwentị maọbụ kọmputa gị iji nweta akwụkwọ ndụmọdụ zuru oke, ajụjụ mmụta, na ndị ọzọ.
Ayẹwo Ẹkọ
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
Ọ dị na ngwa Green Bridge
Budata ngwa Green Bridge CBT na ekwentị maọbụ kọmputa gị iji nweta akwụkwọ ndụmọdụ zuru oke, ajụjụ mmụta, na ndị ọzọ.
Ọ dị na ngwa Green Bridge
Budata ngwa Green Bridge CBT na ekwentị maọbụ kọmputa gị iji nweta akwụkwọ ndụmọdụ zuru oke, ajụjụ mmụta, na ndị ọzọ.
Àwọn Ìwé Tó Dáa Láti Kà
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.
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