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v the errors pl account ba

v the errors pl account ba

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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On 28 February 2019, the debtors control account in the General Ledger of Lesego Fashions showed a debit balance of R8 735, while the debtors list in the Debtors ledger showed a total of R5 584. The errors and omissions described below were found on 28 February 2019. Required: Indicate in the table provided below, how the errors and omissions should be corrected in order to reconcile the control account balance with debtor's list total. Debtors ledger Debtors list No. General Ledger Debtors control Dr (+) Cr (-) Dr (+) Cr (-) 1. The debtors list was overcast by R500. 2. The balance of a debtor was omitted from the debtors list, R75. 3. The balance on the account of a debtor, R150, was brought down incorrectly as R15.
Transcribed Image Text:On 28 February 2019, the debtors control account in the General Ledger of Lesego Fashions showed a debit balance of R8 735, while the debtors list in the Debtors ledger showed a total of R5 584. The errors and omissions described below were found on 28 February 2019. Required: Indicate in the table provided below, how the errors and omissions should be corrected in order to reconcile the control account balance with debtor's list total. Debtors ledger Debtors list No. General Ledger Debtors control Dr (+) Cr (-) Dr (+) Cr (-) 1. The debtors list was overcast by R500. 2. The balance of a debtor was omitted from the debtors list, R75. 3. The balance on the account of a debtor, R150, was brought down incorrectly as R15.
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