Account Reconstruction Flashcards Preview

Accounting U4 AOS3 > Account Reconstruction > Flashcards

Flashcards in Account Reconstruction Deck (10)
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1

Accounts Receivable Debit Side (2)

1. Balance
2. Sales/GST Clearing

2

Accounts Receivable Credit Side (3)

1. Bank/Discount Expense
2. Sales returns/GST Clearing
3. Allowance for doubtful debts/GST Clearing

3

Accounts Payable Debit Side (2)

1. Bank/Discount revenue (Purchase return)
2. Inventory/GST Clearing

4

Accounts Payable Credit Side (2)

1. Balance
2. Inventory/GST Clearing

5

GST Clearing Debit Side (5)

1. Bank
2. Accounts Receivable
3. Accounts Payable
4. Bank
5. Accounts Receivable

6

GST Clearing Credit Side (4)

1. Balance
2. Accounts Receivable
3. Accounts Payable
4. Bank

7

Inventory Debit Side (6)

1. Balance
2. Bank
3. Accounts Payable
4. Capital
5. Cost of sales
6. Inventory Gain

8

Inventory Credit Side (7)

1. Drawings
2. Advertising
3. Inventory loss
4. Inventory write down
5. Cost of sales
6. Cost of sales
7. Accounts Payable

9

Capital Debit Side (1)

1. Drawings

10

Capital Credit Side (4)

1. Balance
2. NCA
3. Bank
4. P/L Summary