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Zorluk: Çok zorControl Account Error Corrections and Ledger Reconciliation

Before preparing the final accounts of Okon & Sons, the Sales Ledger Control Account balance was ₦145,800₦145,800. A subsequent audit revealed the following errors:
1. The total of the Sales Day Book was posted to the Sales Ledger Control Account as ₦45,200₦45,200 instead of the correct total of ₦54,200₦54,200.
2. Discount allowed of ₦3,400₦3,400 was entered in the Sales Ledger Control Account as ₦4,300₦4,300.
3. A contra entry of ₦2,500₦2,500 set off against the Purchases Ledger Control Account was omitted entirely from the Sales Ledger Control Account.
4. Bad debts written off of ₦1,800₦1,800 were posted to individual debtors' accounts but omitted from the Sales Ledger Control Account.
5. A dishonoured cheque of ₦4,000₦4,000 was posted correctly in the Sales Ledger Control Account but entered as ₦400₦400 in the customer's individual account.

Calculate the corrected Sales Ledger Control Account balance after all necessary adjustments.

Cevap: 151400 ₦

Cevap

The corrected Sales Ledger Control Account balance is 151,400
To arrive at the corrected Sales Ledger Control Account balance, only adjustments affecting the general ledger control account must be processed: add the ₦9,000 under-posted sales day book total, add ₦900 to correct the over-credited discount allowed, subtract ₦2,500 for the omitted contra entry, and subtract ₦1,800 for the omitted bad debt. The posting error in the individual debtor's personal account (item 5) does not affect the control account. Therefore, 145,800+9,000+900−2,500−1,800=151,400145,800 + 9,000 + 900 - 2,500 - 1,800 = 151,400.

Adım Adım Çözüm

1
Identify the unadjusted control account balance
Unadjusted Balance = ₦145,800 (Debit)
This is the starting point before error corrections.
2
Calculate adjustment for Sales Day Book posting error
Add ₦9,000 (₦54,200 - ₦45,200)
Sales Day Book total increases debtors, so under posting on the debit side of the control account requires a debit addition.
3
Calculate adjustment for Discount Allowed overstatement
Add ₦900 (₦4,300 - ₦3,400)
Discount allowed reduces debtors (credited to control account). Crediting ₦4,300 instead of ₦3,400 reduced the control account by ₦900 too much; hence, ₦900 must be debited back.
4
Adjust for omitted contra entry and bad debts
Deduct ₦2,500 (Contra) and deduct ₦1,800 (Bad debts)
Both contra entries and bad debts write-offs reduce total receivables and belong on the credit side of the Sales Ledger Control Account.
5
Evaluate subsidiary ledger error impact
No adjustment to control account for item 5
Errors in individual customer subsidiary ledger accounts affect the list of debtors/schedule of balances, not the control account in the general ledger.
6
Compute final corrected balance
145,800 + 9,000 + 900 - 2,500 - 1,800 = 151,400
Sum of initial balance and all valid general ledger control adjustments.

Anahtar Kavram

Control Account Adjustment vs Subsidiary Ledger Reconciliation
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Konular

Control Account Error Corrections and Ledger Reconciliation

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