Double Entries Flashcards
Increase in allowance for receivables
Dr irrecoverable debt expense
Cr Allowance for receivables
Decrease in allowance for receivables
Dr allowance for receivables
Cr irrecoverable debt expense
Depreciation charge
Dr Depreciation expense
Cr accumulated depreciation
Share issue
Dr cash at bank
Cr share capital
Cr share premium
Bonus issue of shares
Dr share premium
Cr share capital
Acquisition of non current asset (VAT)
Dr NCA
Dr VAT
Cr bank/payable
Closing inventory
Dr inventory SFP
Cr inventory P+L
Irrecoverable debt
Dr irrecoverable debt
Cr receivable
Accrued expense (incurred, not yet paid)
Dr expense
Cr accrual
Prepaid expense (paid in advance)
Dr prepayment
Cr expense
Accrued income (income not yet received)
Dr accrued income
Cr income
Prepaid income (income received but relates to next year)
Dr income
Cr prepaid income
Provision (expenditure for which the provision was created is incurred)
Dr relevant expense account Cr provision (statement of financial position)
Drawings of inventory by a poprietor
Dr Drawings
Cr Purchases
Early payment discount expected, payment not made in time
Dr cash
Cr receivables
Cr revenue
