Reconciliations and Controls Chap 1 Flashcards
1
Q
What is account entry for inputting info from sales day book into debtors nominal ledger?
A
Dr debtors ledger control Cr Sales control Cr VAT
2
Q
What is the account entry for transferring purchase day book into nominal ledger control book?
A
Dr purchases Dr VAT Cr creditors ledger control
3
Q
What is entry for transferring cash receipts if cash received = sales £120, rent £100 and bank int £10
A
Dr cash control £230 Cr rental income Cr int payable Cr debtors ledger control
4
Q
What is entry for transferring cash payments to nominal ledger if elec £120 inlc VAT, wages £100 and suppliers £100
A
Dr Elec control £100 VAT control £20 Dr wages control Dr creditors ledger control Cr cash control £320
