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Provisions for doubtful debts are excluded from the sales control account because they represent an estimate of potential future losses rather than actual sales transactions. The sales control account is designed to track actual sales revenue and receivables, while provisions for doubtful debts reflect a conservative approach to accounting, ensuring that the financial statements accurately represent expected cash flows. Including them would distort the true sales figures and misrepresent the company's financial health.
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What are the types of Control Account?
sales control account purchases control account
Prepare Debtors control account and Creditors control account?
The financial year of Ali & Co is closed on June 30, 2007. Data regarding Ali & Co isgiven below:Rs.Opening balanceDebtors 75,000Creditors 125,000Closing balanceDebtors 100,000Creditors 150,000SalesCash 100,000Credit 130,000PurchasesCash 80,000Credit 100,000Purchase returns (From credit purchases) 5,000Receipts from debtors ? 88500Payments to creditors ? 65000Discount allowed 2,000Discount received 5,000Bad debts written off 13,000Increase in provision for doubtful debts 2,500Required:Prepare Debtors control account and Creditors control account.
There are two types of control account what are they?
sales ledger control account and purnchase ledger control account
What is control account control account?
A control account is a summary of the individual accounts in the subsidiary ledger(purchases or sales ledger) :)
Format for Debtors control account and creditors control account?
debtors
What are the types of Control Account?
sales control account purchases control account
What are the different type of control account?
sales control account purchases control account
Prepare Debtors control account and Creditors control account?
The financial year of Ali & Co is closed on June 30, 2007. Data regarding Ali & Co isgiven below:Rs.Opening balanceDebtors 75,000Creditors 125,000Closing balanceDebtors 100,000Creditors 150,000SalesCash 100,000Credit 130,000PurchasesCash 80,000Credit 100,000Purchase returns (From credit purchases) 5,000Receipts from debtors ? 88500Payments to creditors ? 65000Discount allowed 2,000Discount received 5,000Bad debts written off 13,000Increase in provision for doubtful debts 2,500Required:Prepare Debtors control account and Creditors control account.
There are two types of control account what are they?
sales ledger control account and purnchase ledger control account
What is control account control account?
A control account is a summary of the individual accounts in the subsidiary ledger(purchases or sales ledger) :)
Format for Debtors control account and creditors control account?
debtors
Which component of Windows 7 prompt users for permission or credentials?
It is called User Account Control.
What food groups are excluded from weight watchers diet?
As explained on this linked page, no food group is excluded from the Weight Watchers diet. See also:Eating healthily to control weight
How does the Indian Parliament exercises control over the Executive?
parliament exercise control over executive by making some provisions in the constitution which help parliament to control executive.
Define wages control account?
Wages control account is an account used in a management or cost accounting system, to record both direct and indirect labour cost. Using the traditional T accounts, it obviously has two sides; debit and credit. Direct labour cost are creditted to the wages control account and has its corresponding entry in the work in progress control account(debitted). Indirect labour cost will also be creditted in the wages control account and the corresponding entry in the production overhead control account.
What is a subsidiary account?
A subsidiary account is an account that is found in the subsidiary ledger. It is used to summarize the control account.
What does computer term UAC stand for?
UAC stand for User Account Control. It is located in a lot of online accounts, and helps you control your own account. You can also find it in Windows 7.
