The content is just an excerpt from the complete note for SS1 Third Term Financial Accounting Lesson Note – Purchases Ledger Control Account. Check below to download the complete DOCUMENT
WEEK 10
CLASS: SS1
TOPIC: CONTROL ACCOUNT
CONTENT: Purchases Ledger Control Account
Sub – topic 1 Treatment of cash /bank payment and discount received.
- Exercise 10, page 234 of Simplified and Amplified Book Keeping & Accounting for SSS 1, 2, 3 third edition 2012 by Femi Longe is treated and solved.
LOLA ENTERPRISES
Debtors Control Account
| N
Balance b/d 79480 Sales day book 775300 Debit note issued 5300
860080 Balance b/d 113740 |
N
Returns inward day book 141800 Cheques received from customers 566800 Discounts allowed 37740 Balance c/d 113740 860080 |
Creditors Control Account
| N
Returns outward day book 39600 Cheques paid to suppliers 618600 Discounts received 26780 Credit note received 2800 Balance c/d 294480 982260 |
N
Balance b/d 75320 Purchases day book 904540 Cash refunded from a supplier 2400
Balance c/d 294480 982260 Balance b/d 294480 |
To gain full access to the note: DOWNLOAD FILE
