Accounts - Principles of Accounts Past Questions and Answers

	N
Purchase ledger opening balance	4,000
sales ledger opening balance	6,000
credit purchase	25,000
Discounts allowed	1,000
Returns inwards	2,000
Credit sales during the year	10,000
Return outwards	6,000

Use the information above to answer the following question;


calculate the sales ledger balance

	N
Purchase ledger opening balance	4,000
sales ledger opening balance	6,000
credit purchase	25,000
Discounts allowed	1,000
Returns inwards	2,000
Credit sales during the year	10,000
Return outwards	6,000

Use the information above to answer the following question;


what is the purchase ledger balance?

lubricating oil and spare parts of machines are example of?

for an incomplete record to provide necessary information, it must be converted to?

The main difference between the ordinary and preference shareholders is that?