Principles of Bookkeeping controls - RLCA, PLCA and VAT account (Control accounts)

Question 1

What is a control account

Answer 1

account that holds summarised information and can be used as a ‘check’. We would regularl

Question 2

diagram for the relationship between the subsidiary ledgers and the nominal/general ledger

Answer 2

Question 3

For the PLCA (purchases account) what is the rule of what goes on the DR side and what is on the CR

Answer 3

ALWAYS on the CR side is the balance b/f and purchases and then **everything else is DR **

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