In the sales ledger control account (SLCA), on which side is a credit sale to a customer recorded?
Control Accounts
Question · Easy
The purchases ledger control account (PLCA) shows a brought-forward credit balance of GBP 8,400. During the month, credit purchases were GBP 5,200, payments to suppliers GBP 6,100 and discounts received GBP 300. What is the closing balance?
Question · Medium
Tax on consumer spending that a registered business charges on taxable supplies and accounts for to HMRC.
Control accounts
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Chapter 1: Exam Structure & Fundamentals
1.1 AAT POBC Overview & Assessment Structure
Study guide
What is the primary purpose of preparing a sales ledger control account?
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Which of the following is recorded on the CREDIT side of the sales ledger control account?
___ tax: the VAT charged to a registered business on its purchases and imports, which it may set against the VAT due on its sales.
An irrecoverable debt of GBP 250 is written off. In the sales ledger control account this is recorded as a:
The total of the individual balances in the sales ledger is GBP 12,650, but the sales ledger control account shows GBP 12,800. A credit note for GBP 150 was correctly posted to the customer's individual account but was omitted from the control account. What correction is needed?
Question · Hard
___ tax: the VAT due on a business's taxable supplies, which it must account for to HMRC.
1.2 8-Task Pacing, CBA Navigation & Exam Traps
Contra entries (set-off) between the sales and purchases ledgers are recorded in the SLCA on the:
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Discounts received from suppliers are entered in the purchases ledger control account on the:
Goods a customer sends back, or a business sends back to a supplier, recorded in a day book or a separate book.
Which book of prime entry provides the total used to post credit sales to the SLCA?
A purchases ledger control account fails to agree with the total of the supplier balances. Which of the following could cause the control account balance to be HIGHER than the list of balances?
___ book, despite its name, usually records money paid into and out of a bank account.
Statement reconciliation
Chapter 2: Sales & Payables Ledger Control Accounts
2.1 Receivables Ledger Control Account (RLCA) Purpose, Entries, and Sources
In the VAT control account, output VAT charged on credit sales is recorded on the:
Vat Control Account
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Term Pairs
A VAT control account has output VAT of GBP 9,200 (credit), input VAT of GBP 3,500 (debit) and VAT on sales returns of GBP 400. What amount is owed to HMRC for the period?
___ reconciliation proves the accuracy of an account balance after entries in the cash book are matched to statements from the institution.
Input VAT on credit purchases is recorded in the VAT control account on the:
A credit balance on the VAT control account at the period end indicates that:
Payment method whose books are used to write up the payments side of the cash book.
2.2 Payables Ledger Control Account (PLCA) Purpose, Entries, and Sources
VAT on an irrecoverable debt that is written off (where bad debt relief applies) is recorded in the VAT control account on the:
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The payroll journal records gross wages of GBP 20,000, employee PAYE/NIC deductions of GBP 4,500 and employer NIC of GBP 2,000. What is the amount of net pay credited to the bank/wages control account for employees?
Payroll Journals
UK scheme used to put wages, salaries or benefits straight into employees' accounts and to settle business invoices.
In the payroll journal, gross wages expense is recorded as a:
Employee and employer National Insurance contributions owed to HMRC are recorded in the payroll journal as a:
Sterling same-day transfer method for high-value wholesale deals and time-critical property deposits, settled individually and irrevocably between participants.
2.3 Contra Entries and Inter-Ledger Transfers
Employer's National Insurance contributions are best described as:
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Pension contributions deducted from employees and payable to a pension provider are recorded in the payroll journal as a:
Total pay before deductions such as tax, National Insurance or pension contributions are subtracted.
Journals and corrections
When the net wages are actually paid to employees from the bank, the double entry is:
A business pays its employees gross wages of GBP 30,000, with employee deductions of GBP 7,200 and employer NIC of GBP 2,800. What is the total payroll expense charged to the income statement?
___ pay is the amount an employee actually receives after tax, pension and other deductions are taken off.
Chapter 3: Control Account Reconciliations & VAT
3.1 Reconciling Control Accounts with Subsidiary Ledgers
Which statement about the relationship between the SLCA and the sales ledger is correct?
Refunds paid to credit customers (for example, for overpayments) are recorded in the SLCA on the:
Class 1 payroll charges paid by both employer and employee on earnings above a weekly threshold.
Which of these items would appear on the DEBIT side of the purchases ledger control account?
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