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.
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
Do you want to study Agricultural Extension in OOU? Before you apply for the OOU…
Do you want to study Agricultural Economics in OOU? Before you apply for the OOU…
Do you want to study Cooperative and Business Management in OOU? Before you apply for…
Do you want to study Home and Hotel Management in OOU? Before you apply for…
Do you want to study Animal Production in OOU? Before you apply for the OOU…
Do you want to study Crop Production in OOU? Before you apply for the OOU…