2. The Kingston Merchandise Company has supplied the following data for 2012:Jan 1 Purchases ledger balanceSales ledger balanceTotals for the year:Purchases journalSales journalReturn outwards journalReturn inwards journalCheques to suppliersCash paid to suppliers11,87419,744154,562199,6622,6484,556146,10078Cheques received from customers185,9605,830Discount allowedDiscount received2,134Bad debts written off396Set off between SL and PL1,036Required: Prepare the SLCA and the PLCA for the year, showing the closing balances.

Sales Ledger Control A/c Particular Amount Particular Amount To Balance B/d 19,744 By Return…

2. The Kingston Merchandise Company has supplied the following data for 2012: 11,874 Jan 1 Purchases ledger balance Sales ledger balance 19,744 Totals for the year: Purchases journal Sales journal Return outwards journal Return inwards journal Cheques to suppliers Cash paid to suppliers 154,562 199,662 2,648 4,556 146,100 78 Cheques received from customers Discount allowed Discount received Bad debts written off 396 Set off between SL and PL 1,036 Required: Prepare the SLCA and the PLCA for the year, showing the closing balances. 185,960 5,830 2,134

2. The Kingston Merchandise Company has supplied the following data for 2012: 11,874 Jan 1 Purchases ledger balance Sales ledger balance 19,744 Totals for the year: Purchases journal Sales journal Return outwards journal Return inwards journal Cheques to suppliers Cash paid to suppliers 154,562 199,662 2,648 4,556 146,100 78 Cheques received from customers Discount allowed Discount received Bad debts written off 396 Set off between SL and PL 1,036 Required: Prepare the SLCA and the PLCA for the year, showing the closing balances. 185,960 5,830 2,134

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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