BKCL Control accounts

What is the double entry for a contra?

• DR SLCA CR PLCA

• DR PLCA CR SLCA

The opening balance on the VAT control account can be either a DR or CR?

• True

• False

Bank charges is an example of an adjustment that needs to be made to the cashbook?

• True

• False

The PLCA has a higher balance then the subsidiary what could explain the difference?

• A contra entry has not been recorded in the subsidiary account

• Purchase returns have been omitted from the subsidiary account

• The purchase daybook was overcast

Irrecoverable debts are recorded on what side of the SLCA

• Debit

• Credit

The total of the sales ledger is higher than the SLCA what could explain the error?

• The sales day book was overcast

• An invoice was missed out of a customers account

• A contra entry has not been recorded in the control account

• Discount allowed was omitted from a subsidiary account