Page 247 - F3 -FA Integrated Workbook STUDENT 2018-19

Incomplete records

2.3 Purchases figures

The credit purchases figure can be derived from using a trade payables’ ledger
control account. The idea is to insert into the ledger account all known information,
and then to derive the missing information as a balancing figure.

This can be simplified using the following pro-forma control account:

Trade payables’ ledger control account
Date Details $ Date Details $

In year Cash paid to suppliers X 01 Jan Balance b/d X
In year Contra with RLCA X In year Purchases (β figure) X

In year Discounts received X
In year Purchases returns X

31 Dec Balance c/d X
––– –––

X X
––– –––

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