Forum

• # 111965
• Sun 03 Jan 2016 03:46 PM

Hi,

In the Revision Kit book - Question 34 asks you to enter the relevant figures into the ledgers provided.  The first of the ledgers is the Sales ledger control account.  I understood from my training that with the ledger accounts any sales figures were entered into the left side/returns on the right of the ledger (opposite to the Sales account) but these answers for both sales ledger control account and purchase ledger control account are on the same sides as if they would be in the sales/purchase accounts i.e sales on the right & purchases on the left.  What has confussed things further is that the b/f balances are on what I thought were the correct sides. It doesn't take much sometimes but this has confussed me - any help or advice much appreciated :-)

• Tara Bolton

• 
  Quote
  

• # 111982
• Tue 05 Jan 2016 08:48 AM

Hi Tara - I have checked the Revision Kit and the answer is correct. What you are asked to post is the receipts and payments from the cash book to the relevant control account, not the sales and purchases. Hence a payment to a supplier to offset a previously entered invoice will be a credit in the bank account and a debit in both the supplier account and the purchases ledger control account (remember when using control accounts the supplier and  customer accounts do not actually form a part of the double entry system so you are not breaking double entry rules by makine 'three' entries into the accounts). This particular question does not ask for the entry of any sales or purchases invoices. Hope this helps.

Jacquie

• Jacquie Mount

  Head of Technical Policy

  ICB

• 
  Quote
  

• # 111986
• Tue 05 Jan 2016 01:19 PM

Hi Jacquie,

Many thanks for your answer.  This seems to be happening to me a little, I read something that's different to what is in print! 

Kind regards,

Tara

• Tara Bolton

• 
  Quote