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The document discusses various accounting entries for transactions like bad debts, bad debts recovered, donations, losses, depreciation, interest, and other special expenses and incomes. It provides examples of debit and credit entries for different accounts related to these transactions.

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13 views3 pages

Acc

The document discusses various accounting entries for transactions like bad debts, bad debts recovered, donations, losses, depreciation, interest, and other special expenses and incomes. It provides examples of debit and credit entries for different accounts related to these transactions.

Uploaded by

adityasinghania.gts
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Debit: Asset Purchased, RS Paid, Discount Allowed, Cash Received, Payment Made, Sales Return, Credit: RS Received, Capital

Introduced,0020
Interest Received, Asset Sold, Cash Paid, Loan Taken, Purchase Return, Return Inwards, Bank Overdraft, Bills Payable, Outstanding
Expense, Outstanding Salary, Bad Debt Recovered
1.Bad Debts
Bad Debts A/c....... Dr.
To Debtors (personal) A/c..
When a part is received
Cash / Bank A/c...Dr (amt. received)
Bad Debts A/c...Dr (amt. not received)
To Debtors A/c (Total amount)
2.Bad Debts Recovered -
Cash / Bank
To Bad Debts recovered
3.Goods given to charity/Donation
Charity / Donation A/c. ......
To Purchases A/c
4.loss by fire (or any other )
Loss by fire A/c..........Dr
To purchase A/c
5.Distribution of goods (as sample)
Advertisement/sales promotion exp A/c
To Purchase A/c..
6.Drawings of goods
Drawing A/c
To Purchase A/c
7. Expenditure on installation of machinery
Machinery A/c... Dr
To cash /Bank A/c...
8. Depreciation on fixed Assets
Depreciation
To Fixed Asset
9. Interest on Capital.
Interest on capital A/c
To capital A/c
10. Special Expenses & Income
Outstanding-Wages To outstanding wages a/c
Prepaid-Prepaid Exp To Expenses a/c
Accrued-Accrued IncomeTo income a/c
Unearned- Income a/c To unearned income a/c
Pchse - D/pinvoice no. L/F Details cost freight total sale value
PR/SR- D/p Dr note no. L/F Details Amt
1. Opening entiries - Assets A/c .......Dr To capital A/c To liabilities A/c
2.Closing entries - transferred to trading (Direct) ,P&L A/c
Closing Stock in trading A/c - credit side,in B/sheet (Asset side )
outstanding expenses. in trading or P & L(Added in related exp)
B/Sheet →lia. side.(only if not shown in T.B.) Prepaid exp in trading P&
L(deducted from that expense) B/sheet - Asset side Accrued income in P&L
(Added in that income) in B/sheet - Asset sideUnearned income in P &L
(deducted from that income)in B/sheet - liabilities side Depreciation when
provision is not maintained in P&L (debit side)when provision isMaintained in
B /sheet(deducted from that Asset )in p&L (debit side ) (Added in Provision in
B/Sheet (deducted from that Asset) (as a total of provision) bad debts in P &L
(debit side) in B/sheet (deducted from debtors)→Bad Debts recovered in P
&L (credit side)in B /sheet (Added in cash or bank )Interest on capital in p & L
(debit)in B /sheet (Added in capital) goods taken by proprietor in Trading for
personal use. (deducted from Purchase) in B/sheet (deducted from capital)

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