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Zorluk: Çok zorPreparation of Final Accounts from Incomplete Records

A retail enterprise operating without full double-entry bookkeeping records provides the following financial details for the year ended 31 December 2025:

- Trade debtors balance on 1 January 2025: ₦45,000\text{₦}45,000
- Trade debtors balance on 31 December 2025: ₦58,000\text{₦}58,000
- Cash received from debtors deposited into bank: ₦420,000\text{₦}420,000
- Cash discounts granted to customers: ₦2,500\text{₦}2,500
- Irrecoverable debts written off: ₦3,500\text{₦}3,500
- Sales returns from credit customers: ₦4,000\text{₦}4,000
- Contra set-off settlement against creditors ledger: ��6,000\text{��}6,000
- Dishonoured cheques from credit customers: ₦5,000\text{₦}5,000
- Cash sales paid directly into the bank account: ₦85,000\text{₦}85,000
- Cash sales withdrawn by the owner for personal use before banking: ₦12,000\text{₦}12,000

What is the total value of sales (in ₦\text{₦}) for the enterprise during the year?

Cevap: 540500 ₦

Cevap

The total value of sales for the business for the year is ₦540,500\text{₦}540,500.
To find total sales when converting incomplete records, a Debtors Control Account must be constructed to calculate credit sales, and total cash sales must be added. Summing all credit items (₦420,000+₦2,500+₦3,500+₦4,000+₦6,000+₦58,000=₦493,500\text{₦}420,000 + \text{₦}2,500 + \text{₦}3,500 + \text{₦}4,000 + \text{₦}6,000 + \text{₦}58,000 = \text{₦}493,500) and subtracting the known debits (₦45,000\text{₦}45,000 opening balance +₦5,000+ \text{₦}5,000 dishonoured cheques) yields credit sales of ₦443,500\text{₦}443,500. Adding total cash sales (₦85,000\text{₦}85,000 banked +₦12,000+ \text{₦}12,000 drawings =₦97,000= \text{₦}97,000) gives the final total sales of ₦540,500\text{₦}540,500.

Adım Adım Çözüm

1
Reconstruct the Sales Ledger Control Account (Debtors Account) to determine credit sales.
Credit items sum to ₦493,500\text{₦}493,500, while known debit items (opening debtors of ₦45,000\text{₦}45,000 plus dishonoured cheques of ₦5,000\text{₦}5,000) sum to ₦50,000\text{₦}50,000.
Dishonoured cheques increase the debt owed by customers and must be debited to the control account, while discounts allowed, bad debts written off, sales returns, contra set-offs, cash received, and closing balances credit the account.
2
Calculate the derived Credit Sales figure.
Credit Sales=₦493,500−₦50,000=₦443,500\text{Credit Sales} = \text{₦}493,500 - \text{₦}50,000 = \text{₦}443,500.
The missing debit balance in the control account represents total credit sales generated during the accounting period.
3
Compute the total Cash Sales.
Total Cash Sales=₦85,000+₦12,000=₦97,000\text{Total Cash Sales} = \text{₦}85,000 + \text{₦}12,000 = \text{₦}97,000.
Cash sales include both the amount banked and cash takings appropriated by the owner prior to banking.
4
Calculate Total Sales.
Total Sales=₦443,500+₦97,000=₦540,500\text{Total Sales} = \text{₦}443,500 + \text{₦}97,000 = \text{₦}540,500.
Total turnover comprises all credit sales plus total cash sales.

Anahtar Kavram

Conversion from Single Entry to Double Entry - Determination of Total Sales via Debtors Control Account and Cash Summary
Tahmini Süre:2m 30s
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Konular

Preparation of Final Accounts from Incomplete Records

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