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)