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Debtors' Ledger Control Account: Date Debits Date Credits

The document provides examples of journal entries for various ledger accounts used for financial accounting, including debtors' and creditors' ledger control accounts, bad debts accounts, provision for doubtful debts accounts, asset accounts, accrued and prepaid expenses accounts, and subscriptions accounts. For each type of account, it lists sample debit and credit entries with dates and amounts, and provides brief explanations and notes on how to treat certain entries.

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Shashank Gadia
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© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
111 views

Debtors' Ledger Control Account: Date Debits Date Credits

The document provides examples of journal entries for various ledger accounts used for financial accounting, including debtors' and creditors' ledger control accounts, bad debts accounts, provision for doubtful debts accounts, asset accounts, accrued and prepaid expenses accounts, and subscriptions accounts. For each type of account, it lists sample debit and credit entries with dates and amounts, and provides brief explanations and notes on how to treat certain entries.

Uploaded by

Shashank Gadia
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Made By Giraffe195 1

Debtors Ledger Control Account


Date Debits Date Credits
1/6 Balance b/d 5,000 30/ 6 Bank / Cash 10,000
30/6 Sales 20,000 30/ 6 Balance c/d 15,000


25,000 25,000
1/7 Balance b/d 15,000

Creditors ledger control account
Date Debits Date Credits
Cash / cheques paid 14,300 Balance b/d 9,600
Discounts received 600 Purchases 16,700
Returns outwards 1,400
Balance c/d 10,000 ______
26,400 26,300
Balance b/d 9,700

Bad Debts Account
Date Debits Date Credits
Year Year
MM/DD Debtor XXX MM/DD Profit and Loss XXXX
MM/DD Debtor XXX
Credit the Debtors account with the bad debt amount
Subtract the Profit and Loss amount from the gross profit in the Profit and Loss Account. It is an
expense.




Made By Giraffe195 2
Provision for Doubtful Debts Account
Date Debits Date Credits
Year Year
MM/DD Balance c/d XXX MM/DD Profit and Loss* XXX
Year Year
MM/DD Profit and Loss** XXX MM/DD Balance b/d XXX
MM/DD Balance c/d XXX
* The Profit and Loss figure should be on the credit side if the provision is increased
** The Profit and Loss figure should be on the debit side if the provision is reduced
Bad Debts Recovered Account
Date Debits Date Credits
Year Profit and Loss XXX Year Debtor XXX
Debtor XXX
No Balance c/d or b/d. The total figure is taken to the Profit and Loss Account.
Asset Account
Date Debits Date Credits
Year Year
MM/DD Payment XXX MM/DD Asset Disposal* XXX
The Disposal amount always equals the original cost of the Asset(Payment)
Accumulated Provision for Depreciation Account
Date Debits Date Credits
Year Year
MM/DD Balance c/d XXX MM/DD Profit and Loss XXX
Year Year
MM/DD Disposal XXX MM/DD Balance b/d XXX
MM/DD Balance c/d XXX MM/DD Profit and Loss

Made By Giraffe195 3
Asset Disposal Account
Date Debits Date Credits
Year Year
MM/DD Asset* XXX MM/DD Sold For XXX
MM/DD Accumulated provision for
depreciation

MM/DD Profit and Loss XXX

The value should equal the historical cost.
When the profit and loss value is on the credit side, the asset has been sold at a loss. When it is
on the debit side, the asset has been sold at a profit.
Accrued and Prepaid Expenses Account
Date Debits Date Credits
Year Year
MM/DD Cash XXX MM/DD Profit and Loss XXX
MM/DD Bank XXX MM/DD Prepaid c/d XXX
MM/DD Accrued c/d XXX
MM/DD Prepaid b/d XXX MM/DD Accrued b/d XXX
Accrued b/d goes on the credit side.
Prepaid b/d goes on the debit side.
Accrued and Prepaid Revenues Account (ex. Rent Receivable)
Date Debits Date Credits
Year Year
MM/DD Profit and Loss XXX MM/DD Cash XXX
MM/DD Bank XXX
MM/DD Accrued c/d XXX
MM/DD Accrued b/d

Made By Giraffe195 4
Subscriptions Account
Date Debits Date Credits
Year Year
MM/DD Owing b/d XXX MM/DD Prepaid b/d XXX
MM/DD Income and
Expenditure *
XXX MM/DD Bank XXX
MM/DD Prepaid c/d XXX MM/DD Owing c/d XXX
Year Year
MM/DD Owing b/d XXX MM/DD Prepaid b/d
This is the difference between the two sides of the account

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