7/27/2019 Format of Final Accounts

1/4

Specimen of Trading Account

Dr. Cr.

Particulars Amount

Rs.

Particulars Amount

Rs.Opening Stock

Sales

Less: Sales return Purchases

Less: Purchase returns Goods distributed as free

samples

Purchase Expenses: Goods drawn for personaluse

Wages Goods destroyed by fire Carriage Inwards Goods stolen Railway freight Goods given as charity Octroi Goods sunk Custom Duty Closing Stock Demurrage Gross Loss (Transferred to

profit and loss A/c)

Dock (godi) charges

Manufacturing

Expenses:Manufacturing wages Factory expenses like rent,taxes, electricity, energy,

coal, gas, other materials

used, oil, grease,

depreciation of factorypremises, plant and

machinery etc. Gross Profit- (Transferred to

Profit and Loss A/c)

7/27/2019 Format of Final Accounts

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Specimen of Profit & Loss Account

Dr. Cr.

Particulars Amount

Rs.

Particulars Amount

Rs.Gross Loss (Transferred

from Trading A/c.) Gross Profit (Transferred

from Trading A/c)

Administrative

Expenses

Other Incomes

Salary, PF Contribution

taxes, rent Printing and

Stationery, Postage andTelegraph Expenses,

Insurance Premium, Legal

Exp., Audit Fees etc.

Interest received

Dividend received

Rent receivedCommission received

Brokerage received

Selling & Distribution

Exp.

Bad Debts returned

Advertising Expenses Interest on drawings Discount Allowed Other Incomes Salary & commission tosalesmen

Net Loss ( Transferred toCapital A/c)

Traveling exp. &allowances

Show room expenses Carriage Outward Packing expenses

Financial Expenses Interest on capital Interest on loan Interest on Bank Overdraft Bank Charges Discount Reserve Misc. expenditure and Loss Bad Debts Reserve A/c

Bad Debts (as per trial

balance)+ Bad Debts (as per

adjustments)

+ Bad Debts Reserve (To bemaintained as per

adjustment)

- Bad Debts Reserve (as pertrial balance)

7/27/2019 Format of Final Accounts

3/4

Particulars Amount

Rs.

Particulars Amount

Rs.

To Discount Reserve on

Debtors:

Discount allowed ...+ Discount reserve on debtors (as per

adjustments)

- Discount Reserve on debtors (as per trial

balance)

Depreciation on Assets Charity, loss by fire or dueto theft

Net Profit (Transfer tocapital A/c)

Specimen of Balance Sheet

7/27/2019 Format of Final Accounts

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Liabilities -

Capital

Amount

Rs.

Amount

Rs.

Assets -

Property

Amount

Rs.

1) Share Capital 1)Fixed Assets:+ Addition to Capital Goodwill

+Interest on Capital Land + Net Profit Building Less: Drawings Machinery - Interest on drawings Furniture - Net Loss Tools

2) Reserves &

Surplus

Assets on lease

3) Secured Loans Vehicles Debentures Copy Rights Loans from Bank orFinancial Institutions

Patents

e.g. GSFC Loan Trade Marks Other Loans and

advances 2)Investments:

4) Unsecured

Loans

Govt. Securities

Fixed Deposits Shares or Debentures

of a company

5) Current

Liabilities and

Provisions

Loan given

Bills payable Creditors 3)Current Assets:Provident Fund Closing Stock Bank Overdraft Bills receivable Outstanding expenses Debtors Income received in

advance

Stock of Stationery and

Postage Stamps

Provision for tax Bank Balance

Cash on hand Outstanding incomes Pre-paid exp.

4) Miscellaneous

ExpenditurePreliminary Expenses

Deferred Revenue

expenditure

E.g. Advertisement

Suspense A/c