Accounting 9706 · AS & A Level · Reconciliation and verification
Reconciliation and verification — practice question
Reza runs a large retail business. Because the business has many credit customers and credit suppliers, she was advised to keep purchases ledger and sales ledger control accounts.
(a)[4]
Explain two advantages of keeping control accounts.
(b)[6]
Prepare the purchases ledger control account for January 2025.
(c(i))[2]
Calculate an amended sales ledger total of balances.
(c(ii))[3]
Calculate an amended sales ledger control account balance.
Worked solution & mark scheme
This 15-mark question has a full step-by-step worked solution and mark scheme. One marking point: “Offer an arithmetical check on how accurate the purchases and sales ledgers are” …