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1 markControl Accounts

CSEC Principles of Accounts · January 2010 · Paper 2 · Question 3(b)(ii)

Lara Bryan extracts sales ledger balances, credit sales, cash/cheques received, bad debts written off, discounts allowed, returns inwards, dishonoured cheques, and interest on overdue accounts as of March 31, 2009.

State ONE reason why Lara Bryan prepares a Control Account for debtors.

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Other parts of this question

  1. 3(a)(i)Draw up the Suspense Account and correct the errors that caused the difference in Beck Hammond's Trial Balance.[5 marks]
  2. 3(a)(ii)Draft the journal entries necessary to correct the errors which do not affect the Suspense Account.[5 marks]
  3. 3(a)(iii)Draw up a statement to show the revised net profit.[3 marks]
  4. 3(b)(i)Prepare the Debtors Control Account for March 2009.[6 marks]

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