Question

Question 4 (20 marks - 36 minutes) Rocker Ltd keeps control accounts for its sales and purchases ledgers which it balances at the end of each month. The balances on these accounts at 31 March 2015 were: $782 Purchases ledger - debit balances $78, 298 Purchases ledger-credit balances Sales ledger - debit balances $95, 617 $613 Sales ledger - credit balances The following transactions and adjustments took place during April 2015 Sales on credit on credit $759, 348 $621, 591 Cash sales Cash purchases Returns from credit customers $202, 651 $7, 985 $3, 549 $4, 581 $703, 195 $612, 116 $8, 570 $25, 355 $5, 123 $458 Returns to credit purchases Cash Cash paid to credit suppliers from credit customers received Discount a Bad debts written off Provision for doubtful debts increased b t allowed At 30 April 2015, there were credit balances on the sales led balances on the purchases ledger totalling $329. ger totalling $161 and debit Required: a) Prepare the sales ledger control account and purchases ledger control account of Rocker Ltd for April 2015, carrying down the balances as at 30 April 2015. [16 marks] b) List four sources of information for sales ledger control account [4 marks]

Answer 1

Answer Sales Ledges credit-r) 613 csedt Sales a3y% Sales juhun 3Sy9 Cakh allorsed S3ss ßad debts S1a3 salane cls 12130 年854965 &S 9965 262 Credi cash paid tol613l talane eld 649889 679889

explanabon n the Sales Leden as thane accounted m eneral ledger eneral ledgen 다,nbnrnationm salutedaen Control Sources Recaiplsgeoh delavered