Help please...

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:28AM in AAT student discussion
Hi, I have to reconcile the purchases ledger with the purchases control account and would like your comments please..<BR><BR>Total from p ledger £33770<BR><BR>Adjustment is add or subtract based on the following:-<BR><BR>a) Creditor with balance of 290 had been omitted from list<BR>b) Credit purchase of 960 inc vat had been omitted from creditor account<BR>c) P returns of 80 inc vat had been omitted from creditor account<BR>d) Payment to creditor of 500 has been credited to creditors account<BR>e) Creditor balance of 780 had been entered in list as 870.<BR><BR><BR>My answers are:<BR><BR>a) Add 290<BR>b) Add 960<BR>c) Subtract 80<BR>d) Subtract 1000<BR>e) subtract 90<BR><BR>Revised total to agree with purchases ledger control account<BR>£33850 (based on my answers). Dont think that is correct though, any feedback please?<BR><BR>

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Help please...

    Hi MissL<BR><BR>The difference between your two figures is £80. The purch returns figure is £80!<BR><BR>What is the balance on the control a/c?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Help please...

    Hi Scotty, it doesnt say what the purchases ledger control account figure is, thats the trouble. I know the difference is £80, so what would be the correct adjustment for the purchases returns figure, is it subtract 80 or 160?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Help please...

    I don't think the £80 is relevant, it's just the difference between all the adjustments that you have made. I think that your adjustments are correct and that you have the right answer, that's what I would have done.<BR><BR>If it is wrong can you let me know where the mistake is, thanks.<BR><BR>Annette

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