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(a)Sales ledger control Account is known to have a debit balance. Explain, using numerical example why at certain instances the account has both debit and
(a)Sales ledger control Account is known to have a debit balance. Explain, using numerical example why at certain instances the account has both debit and credit balance brought down (AN:7) (b)Construct a Purchases Ledger Control Account, using your own numerical example, with five items of your choice (AN:7) (c)Briefly discuss the role of the control accounts in the preparation of financial statements of organizations
(a)Sales ledger control Account is known to have a debit balance. Explain, using numerical example why at certain instances the account has both debit and credit balance brought down
(AN:7)
(b)Construct a Purchases Ledger Control Account, using your own numerical example, with five items of your choice (AN:7) (c)Briefly discuss the role of the control accounts in the preparation of financial statements of organizations
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
