Question

2. State one source from which each of the following items could be transferred into the purchases ledger control account: (i) purchases; (ii) cash payments; (iii) returns outwards; (iv) discount received; (v) petty cash payments.

Accepted Answer

(i) Purchases — Purchases Day Book.
(ii) Cash payments — Cash Book.
(iii) Returns outwards — Purchases (Returns) Day Book.
(iv) Discount received — Cash Book.
(v) Petty cash payments — Petty Cash Book.

WAEC Accounting 2024 Theory — Question 2

Sign up free to unlock