Control Accounts

Missing numbers questions involving

debtors/sales/cash receipts or
creditors/purchases/cash payments can be
answered using control accounts.
Control accounts are T accounts for either
debtors/receivables, or creditors/payables.
The idea is the same as we saw before (incomplete
records) - you can use either method for answering
questions
 Receivables/Sales/Debtors
Balance b/f (opening X Cash received from x
balance) last year's debtors during the year
Balance Sheet bank a/c
Credit sales for year (may X Bad debts written off in x
be a missing figure!) year
Returns inwards x
Closing debtors x
(receivables) current
asset in this year's
__________
Balance Sheet __________

X x
__________ __________
 Payables/Creditors
Payments made during the X Opening balance b/f at x
year (Bank a/c) start of year last year's
Balance Sheet
Credit purchases during x
Returns outwards X the year (may be
'missing figure')
Closing creditors current X
liability is this year's
Balance Sheet __________ __________

X x
__________ __________
 Incomplete Records - Example
Receivables/Sales/Debtors
Balance b/f Cash received from
debtors during the
quarter
Credit sales for quarter Bad debts written off in
quarter
Returns inwards in
quarter
Closing debtors
__________
(receivables) __________

__________ __________