Example: Columnar format of the Current Account

Partners' Current Account

Partner A

Partner B

Int on drawings

xxx

xxx

Int on capital

xxx

Drawings

xxx

xxx

Int on loan

xxx

Salary to partner

xxx

Profit sharing

xxx
xxx

xxx

xxx

Partner A

Partner B
xxx
xxx
xxx
xxx
xxx

Purchases Ledger Control Account

Purchase Returns

xxx

Balance b/d

xxx

Discount Received

xxx

Credit Purchases

xxx

Contra entries

xxx

Bank

xxx

Balance c/d

xxx
xxx

xxx

Note:
Decreases the amount owed to
Trade Creditors

Increases the amount owed to

Trade Creditors

Sales Ledger Control Account

Balance b/d

xxx

Sales Return

xxx

Credit Sales

xxx

Discount Allowed

xxx

Bad Debts written off

xxx

Contra Entries

xxx

Bank

xxx

Balance c/d

xxx
xxx

xxx
Note:
Increases the amount owed by
Trade Debtors

Decreases the amount owed by

Trade Debtors

1) Specific Provision
Kingsley
Bott

RM560
RM1,495

2) General Provision
2% x RM27,500

RM550
RM2,605

Depreciation Expense Account

Provision for
Depreciation

850

Provision for Depreciation Account

Depreciation

850

FORMAT
RM

RM

Net Profit

xxx

Add: Drawings

xxx
xxx

Less: Int on capital : Partner A

Partner B

xxx
xxx

Less: Salary to Partner B

Profit/(Loss) Share : Partner A

Partner B

(xxx)
(xxx)
xxx

xxx
xxx

xxx

Provision for Doubtful Debts Account

Balance c/d

2,605

Profit & Loss Account

2,605

Extract of Profit & Loss Account for the year ended

Expenses
Prov for Doubtful
Debts

2,605

Extract of Balance Sheet as at

Current Assets
Debtors
Less: Prov for
Doubtful Debts

29,555
(2605)
26,950

Extract of Balance Sheet as at

Current Assets
Stock - Finished goods

xxx

Less : Provision for unrealised profit

(xxx)
xxx

Trial Balance as at 31 December, 2013

Debit
Drawings

Credit
4000

Capital

22000

Fixed Asset - Cost

20000

Fixed Asset - Acc. Depreciation

Suspense Account

2000
36000
42000

42000