Control Accounts
GCE Financial Accounting
11 Control Accounts practice questions covering everything you need for GCE.
Drill Control Accounts →Sample Control Accounts questions
The following information was extracted from the books of Adeola Enterprises for the month of March 2023: Balances on 1st March 2023: Debtors Control Account (Dr) - N48,500 Creditors Control Account …
(«a) Explain the term 'Control Account' as used in financial accounting and state FOUR purposes of maintaining control accounts in a business. (8 marks) (b) The Sales Ledger Control Account of Bello …
In preparing a Sales Ledger Control Account, which of the following entries would appear on the CREDIT side?
The following information relates to Alhaji Traders for the month of October 2023: Opening debtors balance ₦48,000; Credit sales ₦120,000; Cash received from debtors ₦95,000; Returns inwards ₦8,500; D…
Chioma Enterprises had the following data for November 2023: Opening creditors balance ₦35,000; Credit purchases ₦88,000; Cash paid to creditors ₦72,000; Returns outwards ₦6,400; Discount received ₦2,…
Which of the following is the MAIN purpose of a control account?
At 31 December 2023, the Sales Ledger Control Account showed a balance of ₦74,600, but the list of debtors' balances totalled ₦71,200. Which of the following errors would fully account for the differe…
The following balances appeared in the books of Emeka & Sons: Debit balances in purchases ledger ₦4,200; Credit balances in purchases ledger ₦96,800; Debit balances in sales ledger ₦88,500; Credit bal…
Which of the following would NOT appear in a Purchases Ledger Control Account?
A contra entry in control accounts arises when:
The Sales Ledger Control Account is also known as the: