Missing figures using control accounts Flashcards
1
Q
Where is credit sales?
A
Debit side of sales ledger control account
2
Q
What can credit sales be the missing figure for?
A
Part or all of revenue
3
Q
What side is balance c/d on the sales ledger control account?
A
Credit side
4
Q
What can the balance c/d on the sales ledger control account be the missing figure for?
A
Trade receivables in current assets
5
Q
Where is credit purchases?
A
Credit side of purchases ledger control account
6
Q
What can credit purchases be the missing figure for?
A
Part or all of revenue
7
Q
What side is balance c/d on the purchases ledger control account?
A
Debit side
8
Q
What can the balance c/d on the sales ledger control account be the missing figure for?
A
Trade payables in current liabilities