The sales ledger control account of a business had a balance of $17640. This did not agree with the total of the individual customer accounts in the sales ledger.
The following errors have been discovered.
1 An invoice in the sales journal for $460 has been entered wrongly in the sales ledger as $640.
2 Credit balances on the sales ledger, $470, have been omitted from the sales ledger control account.
3 Discounts allowed have been incorrectly totalled as $310 instead of $325.
4 Goods sold to Harry for $690 have been entered in the account of Barry in error.
What is the correct balance on the sales ledger control account?

Q: What topic does this question test?

This question tests Control Accounts in A-Level Accounting (syllabus code 9706). It is worth 1 mark.

Q: Which exam paper is this question from?

This question appeared in the Cambridge A-Level Accounting Oct/Nov 2022 examination, Paper 1 Variant 2 (9706_w22_qp_12.pdf).

Question

The sales ledger control account of a business had a balance of $17640. This did not agree with the total of the individual customer accounts in the sales ledger.
The following errors have been discovered.
1 An invoice in the sales journal for $460 has been entered wrongly in the sales ledger as $640.
2 Credit balances on the sales ledger, $470, have been omitted from the sales ledger control account.
3 Discounts allowed have been incorrectly totalled as $310 instead of $325.
4 Goods sold to Harry for $690 have been entered in the account of Barry in error.
What is the correct balance on the sales ledger control account?

Oracle Prep · Accepted Answer

The correct answer is B: $17155.

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