Post on 31-Mar-2015
description
THINGS TO BE CHECKED
WHILE READING THE LEDGER ACCOUNT
Opening Balance
Books of Accounts
Amount of Transactions
Debtor’s Account
Creditor’s Account
(1) Reading of Debtors and Creditors Account:
To Balance b/d xxx
By Balance b/d xxx
Debtor’s Account
Creditor’s Account
By Sales-Return xxx
To Sales A/c xxx
By Purchases A/c xxx
To Purchase-Return xxx
Debtor’s Account
To Bills-Receivable A/c xxx (Dishonoured)
By Bills-Receivable A/c xxx
To Interest A/c xxx
Creditor’s Account
To Bills-Payable A/c xxxBy Bills-Payable A/c xxx (Dishonoured)
By Interest A/c xxx
Debtor’s Account
Creditor’s Account
By Cash A/c xxBy Discount -Allowed A/c xx
To Cash A/c xx
To Discount -Received A/c xx
(2) Reading of Fixed Asset Account:
Plant & Machinery A/cDr. Cr.Dat
eParticulars Amt
(Rs.)Date
Particulars Amt(Rs.)
2010 2010Jan. 1 To Balance b/d 1,00,000
Jun. 30 By Bank A/c 25,000 (Book value Rs. 30,000 on 1.1.2010)
Mar.31 To Bank A/c 75,000
To Bank A/c 25,000(Transportation)
Jun. 30 By Profit & Loss A/c 3,500
Oct. 1 To Bank A/c 50,000 To Bank A/c 10,000 (Erection)
Dec. 31 By Depreciation A/c 17,500 By Balance c/d 2,14,000
2,60,000 2,60,000
(3) Reading of Deferred Revenue Expenditure Account:
Advertisement Expenses A/c
Date
Particulars
Amt(Rs.)
Date Particulars Amt(Rs.)
2009
2009
2010
2010
Jan. 1To Bank A/c36,000Dec. 31By Profit & Loss A/cBy Balance c/d
18,00018,000
Jan. 1To Bank A/c18,000Dec. 31 18,000
18,000 18,000
Dr. Cr.
By Profit & Loss A/c
36,000 36,000
(4) Reading of Advance Account:
Date
Particulars Amount
(Rs.)
Date Particulars Amount
(Rs.)
2010
2010May. 5
To Cash A/c (Ajay)
1,000
May. 15
To Cash A/c (Vijay)
2,500
May. 25
To Cash A/c (Sanjay)
750
May .12
By Travelling expenses (Ajay)
1,000
May . 20
By Travelling expenses (Vijay)By Cash (Vijay)
2,000
500
May . 31
By Balance c/d (Sanjay)
750
4,250
4,250
Advance Account
Dr.
Cr.
(5) Reading of Capital Account:
Date Particulars Amt(Rs.)
Date Particulars Amt(Rs.
)
2010 2010Mar . 5
To Bank Drawings A/c
5,000
Mar . 15
To Drawings (Goods)
3,000
Mar . 31
To Balance c/d
67,000
Mar . 1
By Balance b/d
49,000
May. 20
By Interest
2,000
Mar. 31
By Profit & Loss A/c
24,000
75,000
75,000
Capital Account
Dr.
Cr.