Financial Accounting Flashcards
1
Q
Purchases
A
DR of the IS
2
Q
Sales
A
CR of the IS
3
Q
Returns
A
DR/CR of the IS
4
Q
Motor Expenses
A
DR of the IS
5
Q
Salaries
A
DR of the IS
6
Q
Finance costs
A
DR of the IS
7
Q
Rent and Rates
A
DR of the IS
8
Q
Insurance
A
DR of the IS
9
Q
Bad Debts
A
DR of the IS
10
Q
Tax paid
A
DR of the IS
11
Q
Inventories Jan 1st
A
DR of the IS
12
Q
Trade Receivables
A
DR of the SOFP
13
Q
Trade Payables
A
CR of the SOFP
14
Q
Share capital
A
CR of the SOFP
15
Q
Cash in Hand
A
DR of the SOFP
