control accounts Archives - Free ZIMSEC & Cambridge Revision Notes

Principles of Accounting: Purchases Control Accounts Example
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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
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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 […]

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Cambrige Notes: Principles of Accounting: Introduction to Control Accounts
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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 […]

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Cambrige Notes: Principles of Accounting: Purchases Control Accounts
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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
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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

[…]

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