Economic Management Sciences- General Ledger

Question 1

Debtors control

Answer 1

Asset
DR +
CR -

Question 2

Debtors control debit

Answer 2

Balance b/d (beginning of the month)
Sales DJ (total at selling price)
Greater total from debit or credit side
Balance b/d (end of the month but can be on the credit side)

Question 3

Debtors control credit

Answer 3

Bank CRJ (debtors’ control column)
Debtors Allowances DAJ (selling price)
Balance c/d (balance for the next month but can be on debit side)
Greater total from debit or credit side

Question 4

Trading stock

Answer 4

Asset
DR +
CR -

Question 5

Trading stock debit

Answer 5

Balance b/d (for beginning of the month)
Bank CPJ (total of the trading stock column)
Cost of sales DAJ (total)
Total of all transactions on debit side
Balance b/d (next month)

Question 6

Trading stock credit

Answer 6

Cost of sales CRJ (total)
Cost of sales DJ (total)
Balance c/d (difference)
Total from debit side

Question 7

Sales

Answer 7

Income
DR -
CR +

Question 8

Sales credit

Answer 8

Balance b/d (beginning of month)
Debtors control DJ (total at selling price)
Bank CRJ (total at selling price)
Total

Question 9

Cost of Sales

Answer 9

Expense
DR +
CR -

Question 10

Cost of sales debit

Answer 10

Balance b/d (beginning of month)
Trading stock DJ (total at cost price)
Trading stock CRJ (total at cost price)
Total

Question 11

Cost of sales credit

Answer 11

Trading stock DAJ (total at cost price)