Académique Documents
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1
16. Provision for Provision for discounts Posted at the credit Deducted from
discount on on creditors A/c Dr. side of P/L A/c creditors at the
creditors To P/l A/c liabilities side
17. Accidental loss of Loss of stock A/c Dr. Deducted from No Effect
stock To Trading A/c purchases or posted at
Or To Purchases the credit side of
A/c Trading A/c and also at
the debit side of P/L
A/c
18. Accidental loss of Insurance Co. A/c Dr. Insurance co. A/c will Insurance Co. A/c will
goods(If insured) Loss of Stock A/c Dr. be shown with the be shown at the assets
(Partial admission To Trading A/c amount of claim side.
of claim) admitted by Co. loss of
stock will be shown
with the amount of the
claim not admitted at
the credit side of
Trading A/c. Loss of
stock will also be
shown at the debit side
of P/L A/c
19. Loss of assets by Loss by fire A/c Dr. Loss by fire A/c will be Loss will be deducted
fire( If not insured) To Asset A/c shown at the debit side from the asset at the
of P/L A/c assets side
20. Accidental loss of Insurance Co. A/c Dr. Loss by fire A/c will be Insurance Co. A/c will
assets (If Loss by fire A/c Dr. shown at the debit side be shown at the asset
insured) (Partial To Assets A/c of P/L A/c side, loss by fire A/c
admission) will be deducted from
the Asset.
21. Outstanding P/L A/c Dr. Posted at the debit Shown at the liabilities
Managers To Outstanding side of P/L/ A/c side
commission manager’s
commission A/c
22. Goods sent on Sales A/c Dr.8000 Rs.8000 will be Rs.8000deducted from
sale on return To Debtors A/c 8000 deducted from sales debtors and Rs.6000
basis treated as And and Rs.6000 will be added to stock at the
sales (cost of Stock A/c Dr.6000 added to closing stock assets side
goods 6000 To Trading A/c 6000 at the credit side of
included in sales Trading A/c
8000)
23. Goods taken by Drawings A/c Dr. Amount of goods Amount of goods
the proprietor for To Purchases A/c taken by the proprietor taken by the proprietor
personal use will be deducted from will be deducted from
purchases in trading capital at the liabilities
A/c side
24. Goods given as Charity A/c Dr. Deducted from Deducted from capital
charity To Purchases A/c purchase at the debit at the liabilities side
side of Trading A/c
2
25. Goods distributed Advertising A/c Dr. Posted at the debit No Effect
as free samples Or side of P/L A/c.
Free Sample A/c Dr. Also deducted from
To Purchases A/c purchases A/c
26. Wages paid for Building A/c Dr. The amount will The amount will
construction of To wages A/c deducted from wages beaded to building at
building was at the debit side of the assets side
debited to wages Trading A/c
A/c
27. Goods in transit Goods in transit A/c Dr No effect Goods in transit A/c
(goods were not To Supplier’s A/c will be shown at the
received although assets side. Supplier’s
title to goods were A/c will be shown at
received) liabilities side
28. Remuneration paid Salaries A/c Dr. Added to salaries at Deducted from
to employee was To Employee’s the debit side of P/L/ debtors at the assets
debited to his Personal A/c A/c side.
personal A/c