Service Firm Account Flashcards
Buildings and grounds at cost
Asset
SOR (asset)
Bs(FA)
Stock (opening and closing)
Asset
SOR(asset)
Bs(CA)
Equipment at cost
Fixtures and fittings at cost
Asset
SOR(asset)
Bs(FA)
Motor vehicles at cost
Asset
SOR(asset)
Bs(FA)
Shop debtors (opening and closing )
Asset
SOR(asset)
Bs(Ca)
Income due at the start of the year
Eg. Investment income due, client fees due
Asset
SOR(asset)
Income due at the end of the year
Eg. Investment income due, clients fees due
Asset
Bs(CA)
Investments
Asset
SOR(asset)
Bs(financial asset)
Opening bank balance (on receipts side)
Asset
SOR(asset)
Closing bank balance ( on payments side )
Asset
Bs(Ca)
Any expenses prepaid at the start of the year
Eg. Wages prepaid, contract cleaning prepaid
Asset
SOR(asset)
Any expenses prepaid at the end of the year
Eg. Wages prepaid, contract cleaning prepaid
Asset
Bs(Ca)
Income earned during the year
Eg. Investment income for year, shop profit, client fees
Income
P+L (income)
Issued share capital
Liability
SOR(liability)
Bs(FB)
Authorised share capital
Bs(FB)
Revaluation reserve
Reserves
Bs(FB)
Creditors (opening and closing
Liability
SOR(liability)
Bs(creditors: amounts falling due within 1 year-closing creditors)
Loan
Liability
SOR(liability)
Bs(FB)
Any expenses due at the start of the year
Eg. Loan interest due, wages due
Liability
SOR(liability)
Any expenses due at the end of the year
Eg. Loan Interest due, wages due
Liability
Bs(creditors amounts falling due within 1 year)
Any income prepaid at the start of the year
Eg. Clients fees prepaid
Liability
SOR(liability)
Any income prepaid at the end of the year
Eg. Clients fees prepaid
Liability
Bs( creditors amounts falling due within 1 year )
Expenses incurred during the year
Eg. Light and heat, depreciation, loan interest for the year, loss in the sale of a fixed asset
Expense
P+L(expense)
