Understanding Advanced Accountancy Principles
Explore the types of accounts, journal entries, trading accounts, profit and loss accounts, balance sheets, and receipts/payments accounts in advanced accountancy with detailed illustrations and examples.
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Presentation Transcript
B.COM.I SEM I SUB- ADVANCED ACCOUNTANCY
TYPES OF ACCOUNT PERSONAL ACCOUNT REAL ACCOUNT NON-REAL ACCOUNT
JOURNAL ENTRY Date Particulars L.F. Amount Dr Amount Cr
TRADING ACCOUNT FOR THE YEAR ENDING . PARTICULARS To opening stock To purchase XXX Less purchase return XX To Wages To Carriage Inward To Octroy To Coal, Gas Water To Gross Profit AMOUNT XXX PARTICULARS By Sales XXX Less Sales Return XX By Closing Stock AMOUNT XXX XXX XXX XXX XXX XXX XXX XXX XXX By Gross Loss XXX XXX
PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDING . Particulars To Gross Loss To Salary To Stationary To Telephone Charges To Postal Charges To Bank Charges To Carriage Outward To Indirect Wages To Rent To Discount Allowed To Interest To Net profit Amount XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX Particulars By Gross Profit By Rent Received By Interest Received By Discount Received By Net Loss Amount XXX XXX XXX XXX XXX XXX
BALANCE SHEET AS ON Liabilities Amount Asset Amount To Capital XXX Less drawing XX + Net Profit XX - Net Loss XXX To Bills Payable To Creditors To Bank Overdraft To Outstanding Expenses To Income Received in Advance By Cash In Hand By Cash In Bank By Investment By Debtors By Bills Receivable By Furniture By Machinery By Income Receivable By Prepaid expenses XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX
RECEIPTS AND PAYMENTS ACCOUNTS For The Year Ending Receipts To Balance: Cash XXX Bank XXX To Subscription: For Previous Year XXX For Current Year XXX For Next Year XXX To Entrance Fees To Donation for Building To General Donations To Life Membership Fees To Legacy To Grant from Govt. To Contribution for Rs. Payments By Balance (Bank Overdraft) By Annual Sports Expenses By Salaries and Wages By Rent Rates and Taxes By Insurance By Furniture By Sports Equipment By Audit Fees By Printing And Stationary By Honorarium By Bank Charges By Postage & Telegrams By Water & Electricity By Conveyance &Travelling Rs. XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX
Receipts Annual Dinner To Rent To Receipts on Annual Sports To Sale of Old Sports Materials To Sale of Old Magazines To Sundry Receipts To Balance (Bank Overdraft) Rs. Payments By Sundry Expenses By Annual Dinner Expenses By 19% Investments By Balance Cash XXX Bank XXX Rs. XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX
