With reference to your question above, control account is the sum of various generals in other words it is summary of class of transactions ; normally control account is used for accounts receivable, accounts payable and other currents assets and current liabilities accounts. Personal ledger is the ledger where transaction is only recorded pertaining to same account; general ledger is opened in chart of accounts, for every account. *** amount (Debit/Credit) goes to control account.
The example of general account is
1) Staff salaries expense
2) Receivable from party A
3) Receivable from part B
4) Payable to part X
5) Payable to party Y
6) Rents rates
7) Utilities expenses. E.t.c
The treatment of the control account in financial statement is to add or less total amount of control account in particular line of item in balance sheet.
