control accounts Archives - Free ZIMSEC & Cambridge Revision Notes

Cambrige Notes: Principles of Accounting: Sales Control Account Example
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Cambrige Notes: Principles of Accounting: Sales Control Account Example

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Sales Control Account Example

By Garikai Dzoma|2022-09-15T12:31:47+02:00January 24th, 2023|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

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

We have looked at the nature of the Sales Ledger Control Account in detail
Now it is time to look at a detailed example:

Question

Prepare a sales ledger control account from the following information for October 20X6, carrying down the balance at 31 October:

Oct 1 Sales ledger […]

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Principles of Accounting: Introduction to Control Accounts
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Principles of Accounting: Introduction to Control Accounts

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Introduction to Control Accounts

By garikaib|2022-09-15T12:33:08+02:00January 24th, 2023|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounts Notes: Introduction to Control Accounts

We have already pointed out that errors do occur during the bookkeeping and accounting process
Some errors can be revealed by creating a trial balance
Control Accounts are another mechanism that can be used to discover errors in the books
Control Accounts are used to minimize errors as […]

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Principles of Accounting: Purchases Control Accounts
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Principles of Accounting: Purchases Control Accounts

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Purchases Control Accounts

By garikaib|2022-09-15T12:33:07+02:00January 24th, 2023|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounts Notes: Purchases Control Accounts

Purchases Control Accounts contain a summary view of the purchases ledger
Below is a typical purchases control account:

Naturally the exact entries depend on transactions that occur in the business in the period under review or the question in an exam

Sources of information when preparing

NB

It is […]

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Principles of Accounting: Sales Control Accounts
Gallery
Principles of Accounting: Sales Control Accounts

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Sales Control Accounts

By garikaib|2022-09-15T12:33:07+02:00January 24th, 2023|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounts Notes: Sales Control Accounts

Sales control accounts present a summarized version of what should be in the Sales Ledger in a given period
Below is a typical Sales Control Account:

The exact look of the sales control account obviously depends on the nature of transactions involved

Sources of information when preparing

It […]

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Principles of Accounting: Purchases Control Accounts Example
Gallery
Principles of Accounting: Purchases Control Accounts Example

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Purchases Control Accounts Example

By garikaib|2022-09-15T12:33:06+02:00January 24th, 2023|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounts Notes: Purchases Control Accounts Example

Now that we have examined Purchases Control Accounts in detail
It is time to look at an 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 […]

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Principles of Accounting: Sales Control Account Example
Gallery
Principles of Accounting: Sales Control Account Example

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Sales Control Account Example

By garikaib|2022-09-15T12:33:06+02:00January 24th, 2023|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounts Notes: Sales Control Account Example

We have looked at the nature of the Sales Ledger Control Account in detail
Now it is time to look at a detailed example:

Question

Prepare a sales ledger control account from the following information for October 20X6, carrying down the balance at 31 October:

Oct 1 Sales ledger balances […]

Comments Off

Cambrige Notes: Principles of Accounting: Introduction to Control Accounts
Gallery
Cambrige Notes: Principles of Accounting: Introduction to Control Accounts

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Introduction to Control Accounts

By Garikai Dzoma|2022-09-15T12:31:45+02:00January 24th, 2023|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

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

We have already pointed out that errors do occur during the bookkeeping and accounting process
Some errors can be revealed by creating a trial balance
Control Accounts are another mechanism that can be used to discover errors in the books
Control Accounts are used to minimize errors […]

Comments Off

Cambrige Notes: Principles of Accounting: Purchases Control Accounts
Gallery
Cambrige Notes: Principles of Accounting: Purchases Control Accounts

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Purchases Control Accounts

By Garikai Dzoma|2022-09-15T12:31:46+02:00January 24th, 2023|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

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

Purchases Control Accounts contain a summary view of the purchases ledger
Below is a typical purchases control account:

Naturally the exact entries depend on transactions that occur in the business in the period under review or the question in an exam

Sources of information when preparing

NB

It […]

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Cambrige Notes: Principles of Accounting: Sales Control Accounts
Gallery
Cambrige Notes: Principles of Accounting: Sales Control Accounts

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Sales Control Accounts

By Garikai Dzoma|2022-09-15T12:31:46+02:00January 24th, 2023|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

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

Sales control accounts present a summarized version of what should be in the Sales Ledger in a given period
Below is a typical Sales Control Account:

The exact look of the sales control account obviously depends on the nature of transactions involved

Sources of information when preparing

[…]

Comments Off

Cambrige Notes: Principles of Accounting: Purchases Control Accounts Example
Gallery
Cambrige Notes: Principles of Accounting: Purchases Control Accounts Example

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Purchases Control Accounts Example

By Garikai Dzoma|2022-09-15T12:31:47+02:00January 24th, 2023|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

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

Now that we have examined Purchases Control Accounts in detail
It is time to look at an 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 […]

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January 2023

Question

Sources of information when preparing

NB

Sources of information when preparing

Question

Sources of information when preparing

NB

Sources of information when preparing