Ledgers Flashcards
1
Q
Give the Profit and Loss Summary Debit Side (For a profit)
A
Expenses
Capital
2
Q
Give the Profit and Loss Summary Credit Side (For a profit)
A
Revenues
3
Q
Give the Disposal of NCA Debit Side (For a profit)
A
NCA Name (Vehicle) Profit on disposal of the NCA
4
Q
Give the Disposal of NCA Credit Side (For a profit)
A
Acc Depn of NCA
Bank
5
Q
Give the Inventory Credit Side
A
Drawings Cost of Sales Accounts Payable Cost of sales Inventory loss Inventory write down Advertising
6
Q
Give the Inventory Debit Side
A
Balance Accounts Payable Cost of sales Capital Bank Inventory Gain
7
Q
Give the GST Clearing Debit Side
A
Bank Bank Accounts Receivable Accounts Receivable Accounts Payable
8
Q
Give the GST Clearing Credit Side
A
Balance
Bank
Accounts Payable
Accounts Receivable
