Control Accounts

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  • Created by: Karl
  • Created on: 02-01-13 18:04
What side of the Sales ledger control account does the balance brought down go on?
Left
1 of 7
What side of the purchase ledger does contra go on?
Left
2 of 7
What side of the sales ledger does contra go on?
Right
3 of 7
On the purchase ledger what side increases what the business owes?
Right
4 of 7
On the sales ledger, what side decreased what the customers owe
Right
5 of 7
Do you balance the Control accounts off?
Yes
6 of 7
Do the closing balances from the control accounts go on the
Balance Sheet
7 of 7

Other cards in this set

Card 2

Front

What side of the purchase ledger does contra go on?

Back

Left

Card 3

Front

What side of the sales ledger does contra go on?

Back

Preview of the front of card 3

Card 4

Front

On the purchase ledger what side increases what the business owes?

Back

Preview of the front of card 4

Card 5

Front

On the sales ledger, what side decreased what the customers owe

Back

Preview of the front of card 5
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