Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Purchases Control Accounts Example

You are required to prepare a purchases ledger control account from the following for the month of April. The balance of the account is to be taken as the amount of creditors as on 30 April.
20X5 
April 1 Purchases ledger balances $11,241

Totals for April:

  • Purchases journal $6,100
  • Returns outwards journal $246
  • Cheques paid to suppliers $8,300
  • Discounts received from suppliers $749

Solution

Purchases Ledger Control Account
DateDetailsAmount($)DateDetailsAmount($)
31 AprilPurchases Returns2461 AprilBalance b/d11241
31 AprilBank930031 AprilPurchases6100
31 AprilDiscount Received749
31 AprilBalance c/d7046

17341

17341

  • This is a straight forward question with a simple answer

To access more topics go to the Principles of Accounting Notes.