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

Question 11:

• JAMB 2005

Which of the following item is found on the credit side of the sales ledger control account?

A. Discount received
B. Dishonoured cheques
C. Credit sals
D. Bills receivable

Question 12:

• JAMB 2006

The difference in the sales ledger control account is transferred to the?

A. Profit and loss account
B. Sales account
C. Balance sheet
D. Trading account

Question 13:

• JAMB 2007

If the discount allowed is 2.5% of sales, calculate the closing balance in the sales ledger account

A. N 1400
B. N6 600
C. N16 600
D. N18 600

Question 14:

• JAMB 2008

Discount allowed as represented in the control account appears on the?

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

Question 15:

• JAMB 2012

In sales ledger control account, returns inwards is usually

A. Debited and debtors credited
B. Credited and sales returns debited
C. Debited and cash credited
D. Credited and bank credited