快速查题-ACCA英国注册会计师试题

The following receivables ledger control account prepared by a trainee accountant contains a number of errors:

RECEIVABLES LEDGER CONTROL ACCOUNT

                                                                    $                                                                    $

20X4                                                                                20X4 

1 Jan Balance                                      614,000           31 Dec Credit sales                        301,000

31 Jan Cash from credit customers     311,000             Discounts allowed                           3,400

 Contras against amounts                                              Irrecoverable debts 

 due to suppliers in                                                         written off                                      32,000 

payables ledger                                    8,650              Interest charged on overdue 

                                                                                       accounts                                         1,600

                                                              Balance             595,650                                       933,650

                                                                                                                                           933,650

What should the closing balance on the control account be after the errors in it have been corrected?

Your organisation sold goods to PQ Co for $800 less trade discount of 20% and cash discount of 5% for   payment within 14

days. The invoice was settled by cheque five days later Which one of the following   gives the entries required  to record

BOTH of these transactions?

               DEBIT              CREDIT

                     $                          $

Which one of the following is not a purpose of a receivables ledger control account?

Which of the following lists is composed only of items which would appear on the credit side of thereceivables control

account?

 The following receivables ledger control account has been prepared by a trainee accountant:

RECEIVABLES LEDGER CONTROL ACCOUNT

                                                     $                                                                                $

20X5                                                                    20X5

1 Jan           Balance                318,650       31 Jan Cash from credit customers          181,140

                   Credit sales           161,770               Interest charged on overdue   

                                                                                  accounts                                          280 

                  Cash sales              84,260            Irrecoverable debts written off                 1,390 

              Discounts allowed to                           Sales returns from credit 

                                                                           credit customers                                    1,240 

                                                                                   customers                                      3,990

What should the closing balance at 31 January 20X5 be after correcting the errors in the account?

At 1 April 20X9, the payables ledger control account showed a balance of $142,320. At the end of April the following totals are extracted from the subsidiary books for April:

                                                                                                    $

Purchases day book                                                                183,800

Returns outwards day book                                                      27,490

Returns inwards day book                                                         13,240

Payments to payables, after deducting $1,430 cash discount 196,360

It is also discovered that:

(a) The purchase day book figure is net of sales tax at 17.5%; the other figures all include sales tax.

(b) A customer's balance of $2,420 has been offset against his balance of $3,650 in the payables ledger.

(c) A supplier's account in the payables ledger, with a debit balance of $800, has been included on the list of payables as

a credit balance

What is the corrected balance on the payables ledger control account?

P & Co maintain a receivables ledger control account within the nominal ledger. At 30 November 20X0, the

total of the list of individual balances extracted from the receivables ledger was $15,800, which did not agree

with the balance on the receivables ledger control account. An examination of the books revealed the following

information, which can be used to reconcile the receivables ledger and the receivables ledger control account.

1 The credit balance of $420 in Ahmed's payables ledger account had been set off against his account in the receivables

ledger, but no entries had been made in the receivables and payables ledger control accounts.

2 The personal account of Mahmood was undercast by $90.

3 Yasmin's balance of (debit) $780 had been omitted from the list of balances.

4 Thomas' personal account balance of $240 had been removed from the receivables ledger as a bad

debt, but no entry had been made in the receivables ledger control account.

5 The January total of $8,900 in the sales daybook had been posted as $9,800.

6 A credit note to Charles for $1,000, plus sales tax of $300, had been posted to the receivables ledger

control account as $1,300 and to Charles' personal account as $1,000.

7 The total on the credit side of Edward's personal account had been overcast by $125.

 What is the revised total of the balances in the receivables ledger after the errors have been corrected?

Sales (including sales tax) amounted to $27,612.50, and purchases (excluding sales tax) amounted to $18,000.

What is the balance on the sales tax account, assuming all items are subject to sales tax at 17.5%?

You are given the following information：

Receivables at 1 January 20X3                                                     $10,000

Receivables at 31 December 20X3                                                $9,000

Total receipts during 20X3 (including cash sales of $5,000)          $85,000

What is the figure for sales on credit during 20X3?

A supplier sends you a statement showing a balance outstanding of $14,350. Your own records show a balance outstanding

of $14,500.

Which one of the following could be the reason for this difference?