Control Account II


Welcome to class! 

In today’s class, we will be talking more about the control account. Enjoy the class!

Control Account II

Control Account |

Illustration: The following balance was extracted from the books of Olotun Enterprises on 30th October 1993                                                                                                 N

Purchase 1993                                                                                           7,532

Purchase ledger 1/10/93                                                                         7,948

Sales ledger 1/10/93                                                                                 90,454

Sales day book                                                                                           77,530

Returns outwards                                                                                         3,960

Returns inwards                                                                                          14,180

Cheque received from customers                                                        56,680

Cheque paid to suppliers                                                                        61,860

Cash overpaid to supplier                                                                           240

Discount allowed                                                                                         3,774

Discount received                                                                          2,678

Credit notes received                                                                                    280

Debit notes issue                                                                                              530


(a) Sales ledger control account

(b) Purchase ledger control account


  1. Draw up the format of Sales Ledger Control Account with ten items.
  2. Draw up the format of Purchases Ledger Control Account with twelve items.

Sales Ledger Control Account

N                                                                                     N

1993 Oct. Balance b/f      7,948      1993 Oct. Return inwards                       14,180

Sales                     77,530     Cheques received from customers     56,680

Debit notes issued       530    Discount allowed                                        3,774

Balance c/d                                              11,374

86,008                                                                           86,008

Purchase Ledger Control Account                                            N                                                              N

1993 Oct.Returns Outwards           3,960           1993 Oct. Balance b/f            7,532                    Cheques paid to supply       61,860       Purchases                                  90,454                               Credit note received                 280        Cash overpaid                        240

Discount received                   2,678

Balance c/d                            29,448

98,226                                                          98,226


  1. Explain what is meant by the following (a) Total debtors control account (b) Total creditors control account.
  2. State three reasons for preparing Control Accounts.


In our next class, we will be talking about the Accounts of Non-Profit-Making Organizations.  We hope you enjoyed the class.

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