HELP Control Question PLEASE

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:32AM in AAT student discussion
Hi Help

I am having problems with a question.

It mentions that at the 31st Jan the balance on the creditor ledger agreed with the total on the purchase ledger control account but the total of the debtor’s balances was £56923.48.

Upon investigation you discover the following errors:

A debit balance of £985.77 was listed as £895.77
An invoice to a customer for £12750.50 was entered on the credit side of the customers account
A credit note to a customer for £1000.00 was not posted from the sales returns book
A credit balance of £88.54 was listed as though it was a debit balance

You are to reconcile the total of the list of debtors to the balance on the sales ledger control account using the reconciliation schedule.

After I have done the posting which it asked for in an earlier questions the balance I have on the control account is £81157.40.

I have tried a few time to work it out, but I really am stuck HELP.

Thankyou
:wink:

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:HELP Control Question PLEASE

    I am not sure but I got the opening balance of sales ledger balance to be 30509.56 by working backwards.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:HELP Control Question PLEASE

    sorry, did you mean that the balance on the sales ledger was 56923.48 and based on that figure we have to calulate the revised Sales ledger balance and work backwards to work out the original balance of the sales ledger control account before any adustments.

    If so I got the balance per sales ledger balances with adjustments to be 82337.40.

    Therefore the balance per sales Ledger control before the adjustments I got 83337.40.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:HELP Control Question PLEASE

    I think what the question is asking me is to after the adjustments i need to get it to the Sales Ledger control account balance £81157.40, thankyou
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:HELP Control Question PLEASE

    £


    Balance per Sales Ledger 56923.48

    Undercast balance -90
    Salws return ommited 1000
    Invoice Correction 25501
    Credit balance Correction -177.08

    Revised balance 83157.4

    But I think the undercast balance should be +90 which gives
    £
    Balance per sales Ledger 56923.48

    Undercast balance 90
    Salws return ommited 1000
    Invoice Correction 25501
    Credit balance Correction -177.08

    Revised balance 83337.4
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:HELP Control Question PLEASE

    Hello,

    Is this OK?

    Balance per Sales Ledger 56,923.48
    Adjustments:
    (90.00)
    25,501.00
    (1,000.00)
    (177.08 )
    Balnce per Control A/c: 81,157.40

    Hope this helps :wink:
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:HELP Control Question PLEASE

    Why would we take away 90 as the balance in the individual account should be £985.77 instead of £895.77

    I think we should add it on in the sales ledger.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:HELP Control Question PLEASE

    Thank you all for your help much appreciated. Zoe

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