Purchase ledger control account
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Can anyone help me with the following question.
I have purchases ledger accounts which give a total of 54052.30 and when you total the purchases ledger control account it is 51352.30 a diffrence of 2700.00. the question asks you to establish the reason for any difference between the two and explain what action is required if any to correct the main ledger. the main ledger accounts have the following figures. Purchases- Dr 31109.97 for PDB
Purchases ledger control a/c DR 36328.53 for bank and 969.90 for dis/rec it also has CR BL b/d 54838.44 and 33812.29 for PDB.
Purchase returns has a CR 2333.54 for PDB.
I have purchases ledger accounts which give a total of 54052.30 and when you total the purchases ledger control account it is 51352.30 a diffrence of 2700.00. the question asks you to establish the reason for any difference between the two and explain what action is required if any to correct the main ledger. the main ledger accounts have the following figures. Purchases- Dr 31109.97 for PDB
Purchases ledger control a/c DR 36328.53 for bank and 969.90 for dis/rec it also has CR BL b/d 54838.44 and 33812.29 for PDB.
Purchase returns has a CR 2333.54 for PDB.
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Comments
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Re:Purchase ledger control account
I don't think this is the answer to your question but it's quite handy to know. Your difference is divisible by 9 which often means that it is a transposition error i.e. 3654 has been entered instead of 3564. Any errors divisible by 9 are always worth checking for this.
Good luck with the rest of the question. The other things may be returns not entered correctly, items not entered into individual accounts, payments not entered correctly etc.
Annette0