Sales ledger control account - Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 6:

• JAMB 1999

The principal function of a sales ledger control account is to?

A. Serve as internal check and provide quick information for the preparation of interim financial statements
B. Serve as external check and provide quick information for the preparation of interim financial statements
C. Provide quick information for the preparation of customers' statement
D. Provide information for the control of salesmen's activities

Question 7:

• JAMB 2000

Given:
Sales Ledger Control Account (Extracts)
Balance b/f N10,600
Total cash payments by debtors N32,275
Total credit sales N59,193
Discount received N9,700
Balance c/f N20,751
Discount allowed N2,890
Determine the sales returns?

A. N24,577
B. N13,877
C. N7,067
D. N2,890

Question 8:

• JAMB 2000

Amin Ltd. Creditor Ledger Control Account (Extracts)
Beginning control account
Balance: Debit 32,000
Credit 61,000
Purchases during the year:
Cash 30,000
Credit 60,000
Payment to suppliers:
Cash 13,000
Cheque 29,000
Debtor's contra 6,000
The closing control account balance is

A. N 41,000
B. N65,000
C. N71,000
D. N77,000

Question 9:

• JAMB 2003

In a control account, provision for bad debts is found on the?

A. Debit side of the purchases ledger control account
B. Debit side of the sales ledger control account
C. Credit side of the purchases ledger control account
D. Credit side of the sales ledger control account

Question 10:

• JAMB 2004

In a sales ledger, contra entry is found on the?

A. Debit side of the debtors' control account
B. Debit side of the crebtors' control account
C. Creadit side of the debtors' control account
D. Creadit side of the credtors' control account