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Accounting

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  • 08-01-2010 12:17am
    #1
    fulhamfanincork
    Closed Accounts Posts: 882 ✭✭✭


    I am sorry if this is not the right place to post this.

    I am revising accounting but am stuck on Control Accounts. I am doing the higher level course and the question just isn't clicking for me.

    Has anyone got any tips for me?


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    #2
    aimerlans
    Registered Users Posts: 134 ✭✭aimerlans


    what exactly are you stuck on?


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    #3
    fulhamfanincork
    Closed Accounts Posts: 882 ✭✭✭fulhamfanincork


    I'm having trouble as to where you put the revised figures, in the control account or in the listings.


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    #4
    aimerlans
    Registered Users Posts: 134 ✭✭aimerlans


    sorry i dont understad your terminology.
    what do you mean by revised figures?


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    #5
    fulhamfanincork
    Closed Accounts Posts: 882 ✭✭✭fulhamfanincork


    It's ok, thanks for your help tthough.


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    #6
    aimerlans
    Registered Users Posts: 134 ✭✭aimerlans


    wel like the only way a control will come up is as a working isn't ?
    either as debtors or creditors control..

    put the opening balance on the correct side
    for debtor on the debit and creditor on the credit..

    then take your figure from rec&pay and place on opposite side to where it isfound in the rec&pay..

    closing balances go in just like opening but enter so that when brought down as opening balances they will be in correct positions.. ie.credit side on debtor to be brought down on the debit r..

    the difference between both sides is your figure for the trading account?

    does this answer your question?


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    #7
    fulhamfanincork
    Closed Accounts Posts: 882 ✭✭✭fulhamfanincork


    aimerlans wrote: »
    wel like the only way a control will come up is as a working isn't ?
    either as debtors or creditors control..

    put the opening balance on the correct side
    for debtor on the debit and creditor on the credit..

    then take your figure from rec&pay and place on opposite side to where it isfound in the rec&pay..

    closing balances go in just like opening but enter so that when brought down as opening balances they will be in correct positions.. ie.credit side on debtor to be brought down on the debit r..

    the difference between both sides is your figure for the trading account?

    does this answer your question?

    Thanks very much. Great help.


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