JAMB and WAEC Accounts (Principles of Accounts) questions: Control accounts

30 questions with answers and explanations. Tap an option to check yourself.

All JAMB WAEC

Question 1· Control accounts· WAEC
Which of these appears on the credit side of the purchases ledger control account?
Explanation and discussion
Question 2· Control accounts· WAEC
Cheques paid to suppliers are entered in the purchases ledger control account on the
Explanation and discussion
Question 3· Control accounts· WAEC
Interest charged to a customer on an overdue account is entered in the sales ledger control account on the
Explanation and discussion
Question 4· Control accounts· WAEC
In the sales ledger control account, credit sales are entered on the
Explanation and discussion
Question 5· Control accounts· JAMB
Control accounts help management to
Explanation and discussion
Question 6· Control accounts· JAMB
A set-off (contra) between the sales and purchases ledgers occurs when
Explanation and discussion
Question 7· Control accounts· JAMB
Returns outwards appear in the purchases ledger control account on the
Explanation and discussion
Question 8· Control accounts· WAEC
Cash sales are NOT recorded in the sales ledger control account because
Explanation and discussion
Question 9· Control accounts· WAEC
Opening creditors ₦20,000; credit purchases ₦60,000; payments ₦55,000; returns outwards ₦3,000. Closing creditors are
Explanation and discussion
Question 10· Control accounts· JAMB
Opening debtors ₦60,000; credit sales ₦300,000; cash received from debtors ₦250,000; discounts allowed ₦5,000; returns inwards ₦8,000; bad debts written off ₦2,000. The closing debtors balance is
Explanation and discussion
Question 11· Control accounts· WAEC
A sales ledger control account is also called a
Explanation and discussion
Question 12· Control accounts· JAMB
Returns outwards appear on the
Explanation and discussion
Question 13· Control accounts· WAEC
A sales ledger control account is prepared to
Explanation and discussion
Question 14· Control accounts· WAEC
Control accounts help to
Explanation and discussion
Question 15· Control accounts· WAEC
Discount received appears in the
Explanation and discussion
Question 16· Control accounts· JAMB
Cash sales are NOT entered in the sales ledger control account because
Explanation and discussion
Question 17· Control accounts· JAMB
Opening debtors ₦40,000; credit sales ₦120,000; cash received ₦100,000; discount allowed ₦2,000; bad debts ₦3,000. Closing debtors are
Explanation and discussion
Question 18· Control accounts· JAMB
Which of these is entered on the debit side of the purchases ledger control account?
Explanation and discussion
Question 19· Control accounts· WAEC
A contra (set-off) entry between the control accounts arises when
Explanation and discussion
Question 20· Control accounts· WAEC
Opening receivables were ₦50,000. Credit sales were ₦300,000, cash received from customers ₦220,000 and returns inwards ₦10,000. Find the closing receivables.
Explanation and discussion

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JAMB and WAEC Accounts (Principles of Accounts) questions: Control accounts

Which of these appears on the credit side of the purchases ledger control account?

Cheques paid to suppliers are entered in the purchases ledger control account on the

Interest charged to a customer on an overdue account is entered in the sales ledger control account on the

In the sales ledger control account, credit sales are entered on the

Control accounts help management to

A set-off (contra) between the sales and purchases ledgers occurs when

Returns outwards appear in the purchases ledger control account on the

Cash sales are NOT recorded in the sales ledger control account because

Opening creditors ₦20,000; credit purchases ₦60,000; payments ₦55,000; returns outwards ₦3,000. Closing creditors are

Opening debtors ₦60,000; credit sales ₦300,000; cash received from debtors ₦250,000; discounts allowed ₦5,000; returns inwards ₦8,000; bad debts written off ₦2,000. The closing debtors balance is

A sales ledger control account is also called a

Returns outwards appear on the

A sales ledger control account is prepared to

Control accounts help to

Discount received appears in the

Cash sales are NOT entered in the sales ledger control account because

Opening debtors ₦40,000; credit sales ₦120,000; cash received ₦100,000; discount allowed ₦2,000; bad debts ₦3,000. Closing debtors are

Which of these is entered on the debit side of the purchases ledger control account?

A contra (set-off) entry between the control accounts arises when

Opening receivables were ₦50,000. Credit sales were ₦300,000, cash received from customers ₦220,000 and returns inwards ₦10,000. Find the closing receivables.