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    W 12control Account Recon Excelll23

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    Daddy
    The document summarizes transactions in the receivables and payables ledger control accounts. In the receivables account, there were credit sales of $251,000 and various other credits and debits resulting in a balance carried forward of $4,900. In the payables account, there were credit purchases of $77,000 and payments of $74,000, leaving a balance carried forward of $2,800. A reconciliation of the receivables ledger shows a balance of $176,134 with adjustments for dishonored cheques, incorrect recording, and cash receipt error reducing the balance to $175,000.

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    W 12control Account Recon Excelll23

    Uploaded by

    Daddy
    17 views3 pages
    The document summarizes transactions in the receivables and payables ledger control accounts. In the receivables account, there were credit sales of $251,000 and various other credits and debits resulting in a balance carried forward of $4,900. In the payables account, there were credit purchases of $77,000 and payments of $74,000, leaving a balance carried forward of $2,800. A reconciliation of the receivables ledger shows a balance of $176,134 with adjustments for dishonored cheques, incorrect recording, and cash receipt error reducing the balance to $175,000.

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    W 12Control account recon excelll23

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    The document summarizes transactions in the receivables and payables ledger control accounts. In the receivables account, there were credit sales of $251,000 and various other credits and debits resulting in a balance carried forward of $4,900. In the payables account, there were credit purchases of $77,000 and payments of $74,000, leaving a balance carried forward of $2,800. A reconciliation of the receivables ledger shows a balance of $176,134 with adjustments for dishonored cheques, incorrect recording, and cash receipt error reducing the balance to $175,000.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    17 views3 pages

    W 12control Account Recon Excelll23

    Uploaded by

    Daddy
    The document summarizes transactions in the receivables and payables ledger control accounts. In the receivables account, there were credit sales of $251,000 and various other credits and debits resulting in a balance carried forward of $4,900. In the payables account, there were credit purchases of $77,000 and payments of $74,000, leaving a balance carried forward of $2,800. A reconciliation of the receivables ledger shows a balance of $176,134 with adjustments for dishonored cheques, incorrect recording, and cash receipt error reducing the balance to $175,000.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    You are on page 1of 3

    Dr Receivables' Ledger Control Account Cr

    $ $

    Credit Sales 251,000 Credit Sales Returns 11,000


    Dishonored Cheques 500 Cash 242,000
    Interest Charged 1,400 Irrecoverable debts 4,000
    Contra Settlement 800
    Balance c/f 4,900

    257,800 257,800
    Balance b/f 4,900

    Increase in allowance - Not to be recorded here 1,200


    Dr Payables' Ledger Control Account Cr
    $ $

    Credit Purchases returns 3,000 Credit Purchases 77,000


    Cah Paid 74,000
    Discounts Received 2,000
    Contra Settlement 800

    Balance c/f 2,800

    79,800 79,800
    Balance b/f 2800
    Dr Receivables' Ledger Control Account Cr
    $ $
    Balance b/f 172,000
    5 Credit Sales 4,500 1 Contra 1,500

    Balance c/f 175,000


    176,500 176,500
    Balance b/f 175,000

    Receivables Ledger Reconciliation


    As at ______________ $

    Balance as per Accounts Receivable Ledger Given in Q 176,134


    2 Dishonoured Cheque 555
    3 Incorrect recording (322-233) (89)
    4 Cash Received recorded on debit side instead of credit (1,600)
    Revised Balance 175,000

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