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Prepare a purchases ledger control account.

Prepare a purchases ledger control account.

FINANCIAL ACCOUNTING
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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a. Prepare a purchases ledger control account.

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The following information appeared in the books of Peking Co., for the month of October 2019. The balances on the account as at October 1, 2019 were as follows: Sales ledger Purchases ledger Sales journal Discount received Bad debts written off Total for the month of October 2019: Debit $ 69,520 Credit purchases Cash sales 920 Returns to suppliers Carriage outwards Cash received from trade debtors Dishonoured cheques from customers Cash and cheques paid to trade creditors Contra Provision/allowances for doubtful debt Discount allowed Cash refund to credit customers Sales ledger Purchases ledger Balances as at October 31, 2019: Debit $ 2 2 Credit $ 1,070 42,150 155,800 3,200 4,510 34,870 2,150 146,500 18,600 151,200 50.000 99.900 6,500 9,196 2,500 4,720 Credit $ 4,400 55,650
Transcribed Image Text:The following information appeared in the books of Peking Co., for the month of October 2019. The balances on the account as at October 1, 2019 were as follows: Sales ledger Purchases ledger Sales journal Discount received Bad debts written off Total for the month of October 2019: Debit $ 69,520 Credit purchases Cash sales 920 Returns to suppliers Carriage outwards Cash received from trade debtors Dishonoured cheques from customers Cash and cheques paid to trade creditors Contra Provision/allowances for doubtful debt Discount allowed Cash refund to credit customers Sales ledger Purchases ledger Balances as at October 31, 2019: Debit $ 2 2 Credit $ 1,070 42,150 155,800 3,200 4,510 34,870 2,150 146,500 18,600 151,200 50.000 99.900 6,500 9,196 2,500 4,720 Credit $ 4,400 55,650
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