Rowett and Sharrad uses sales, cash receipts and general journals in its accounting system. The firm also maintains an subsidiary ledger, which contained the following accounts on 31 August:
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S. White |
|
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|
Date |
Explanation |
Post Ref |
Debit |
Credit |
Balance |
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|
1/8 13/8 |
Balance |
CR5 |
3 210 |
4 670 1 460 |
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|
R. Riding |
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Date |
Explanation |
Post Ref |
Debit |
Credit |
Balance |
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|
4/8 18/8 23/8 |
S7 S7 CR5 |
1800 1500 |
1320 |
1800 3300 1 980 |
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|
J. Bean |
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Date |
Explanation |
Post Ref |
Debit |
Credit |
Balance |
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|
9/8 21/8 |
S7 CR5 |
3 420 |
1 300 |
3 420 2 120 |
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|
S. Lau |
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|
Date |
Explanation |
Post Ref |
Debit |
Credit |
Balance |
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|
1/8 12/8 25/8 |
Balance |
CR5 S7 |
780 |
1 520 |
3 450 1930 2710 |
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|
B. Beast |
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|
Date |
Explanation |
Post Ref |
Debit |
Credit |
Balance |
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|
1/8 17/8 31/8 |
Balance |
GJ5 CR6 |
2 320 1 780 |
4 100 1 780 — |
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Required
A. Prepare an Control account after all postings for the month of June have been made with the necessary posting references.
B. Explain how all the amounts which appear in the Control account were obtained.
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