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WAEC Accounting 2011 Paper

Question : 39

Total: 47

\begin{aligned} & \text{D} && \text{D} \end{aligned}

\begin{array}{llll} \text{Balance b/d} & 25,180 & \text{Discount allowed} & 1,936 \end{array}

\text{Sales} \quad 43,220 \quad \text{Sales returns} \quad 1,884

\begin{array}{llll}\text{Dishonored cheque} & 542 & \text{Cash received from customers} & xxx\end{array}

\text{Balance cd 5,122}

\overline{68,942} \quad \overline{68,942}

Net sales is

Solution:

Concept:

Net sales means total sales minus sales returns from the control account.

Explanation:

Total sales shown in the sales ledger control account are

43,220

Sales returns amount to

1,884

Subtract sales returns from total sales.

Net sales

= 43,220 - 1,884 = 41,336

Answer:

\mathrm{D}\,41,336

(Option B).

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