Page 76 - DCOM101_FINANCIAL_ACCOUNTING_I

Financial Accounting-I

Notes Dr Sales Return Account Cr
Date Particulars ` Date Particulars `
Jan 20 To Ganesh 2,000 By Balance c/d 2,000

2,000 2000
To Balance b/d 2000
Note: Sales return account is having the debit balance account.
Dr Purchase Return Account Cr

Date Particular ` Date Particulars `
To Balance c/d 1,500 Jan 12 By Mittal &Co 1,500

1,500
By Balance b/d 1,500
Note: Purchase return account is bearing credit balance account.

Dr Mittal & Co. Account Cr
Date Particulars ` Date Particulars `
Jan 12 To Purchase Return 1,500 Jan 10 By Purchase 10,000
To Balance c/d 8,500
10,000 10,000
By Balance b/d 8,500
Note: Mittal & Co account is having the greater total in the credit side than the debit side led to
credit balance at the closing.
Dr Ganesh & Co. Account Cr

Date Particulars ` Date Particulars `
Jan 11 To Sale 10,000 Jan 20 By Sale Return 2,000
By Balance c/d 8,000
10,000 10,000
To Balance b/d 8,000
Note: Ganesh & Co. account is bearing a greater debit side total than the credit side total which
led to have debit balance account.
Dr Office Rent Account Cr

Date Particulars ` Date Particulars `
Jan 31 To Cash 500 By Balance c/d 500

500 500
To Balance b/d 500

Note: Office rent account is bearing debit balance.
Dr Interim Divided Account Cr

Date Particulars ` Date Particulars `
To Balance c/d 3,000 Feb 2 By Cash 3,000

3,000 3,000
By Balance b/d 3,000
Note: Interim dividend account is having the credit balance.

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