Show me on the sales ledger control account and the reconciliation statement

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ScanSolve AI Tutor · Accepted Answer

Okay, Janelle, here are the Sales Ledger Control Account reconciliation and the statement amending the total of sales ledger balances, with the full breakdown.

Sales Ledger Control Account Reconciliation

This statement reconciles the unadjusted balance of the Sales Ledger Control Account with the corrected balance.

Calculate the unadjusted Sales Ledger Control Account balance.
Based on the previous analysis, the unadjusted closing balance of the Sales Ledger Control Account was \boxed{\85980}$.
Reconcile the unadjusted balance with the corrected balance.
$\begin{array}{l r} \hline \textbf{Particulars} & \textbf{Amount (\$)} \\ \hline \text{Unadjusted Balance b/d} & 85980 \\ \text{Add:} & \\ \quad \text{e. Interest charged overlooked} & 80 \\ \quad \text{k. Sales invoice not entered} & 1490 \\ \text{Less:} & \\ \quad \text{b. Returns inwards undercast} & (870) \\ \quad \text{f. Sales day book overcast} & (1360) \\ \quad \text{i. Returns inwards not recorded} & (440) \\ \quad \text{j. Contra entry not made} & (190) \\ \hline \textbf{Corrected Balance c/d} & \boxed{\textbf{84690}} \\ \hline \end{array}$

Statement Amending Total of Sales Ledger Balances

This statement reconciles the initial total of individual sales ledger balances with the corrected total.
Start with the initial total of sales ledger balances.
Initial Total of Sales Ledger Balances = $80080.
Apply additions and deductions based on errors affecting individual debtor accounts.
$\begin{array}{l r} \hline \textbf{Particulars} & \textbf{Amount (\$)} \\ \hline \text{Initial Total of Sales Ledger Balances} & 80080 \\ \text{Add:} & \\ \quad \text{a. Debtor balance omitted} & 930 \\ \quad \text{e. Interest charged overlooked} & 80 \\ \quad \text{k. Sales invoice not entered} & 1490 \\ \quad \text{l. Credit sale wrongly credited ($1860 \times 2$)} & 3720 \\ \text{Less:} & \\ \quad \text{c. C-Donald returns ($540 - $450)} & (90) \\ \quad \text{d. Discount allowed wrong side ($270 \times 2$)} & (540) \\ \quad \text{g. Bad debts not posted to customer} & (190) \\ \quad \text{h. Discount allowed not entered in customer's account} & (350) \\ \quad \text{i. Returns inwards not recorded} & (440) \\ \hline \textbf{Corrected Total of Sales Ledger Balances} & \boxed{\textbf{84690}} \\ \hline \end{array}$
The corrected balance of the Sales Ledger Control Account (\84690 $) now agrees with the corrected total of the Sales Ledger Balances ($ $84690$).

Show me on the sales ledger control account and the reconciliation statement

Answer

Step-by-step solution

Sales Ledger Control Account Reconciliation

Calculate the unadjusted Sales Ledger Control Account balance.

Reconcile the unadjusted balance with the corrected balance.

Statement Amending Total of Sales Ledger Balances

Start with the initial total of sales ledger balances.

Apply additions and deductions based on errors affecting individual debtor accounts.

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