Account Reconstruction Flashcards Preview

Accounting U4 AOS3 > Account Reconstruction > Flashcards

Flashcards in Account Reconstruction Deck (10)
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1
Q

Accounts Receivable Debit Side (2)

A
  1. Balance

2. Sales/GST Clearing

2
Q

Accounts Receivable Credit Side (3)

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

Accounts Payable Debit Side (2)

A
  1. Bank/Discount revenue (Purchase return)

2. Inventory/GST Clearing

4
Q

Accounts Payable Credit Side (2)

A
  1. Balance

2. Inventory/GST Clearing

5
Q

GST Clearing Debit Side (5)

A
  1. Bank
  2. Accounts Receivable
  3. Accounts Payable
  4. Bank
  5. Accounts Receivable
6
Q

GST Clearing Credit Side (4)

A
  1. Balance
  2. Accounts Receivable
  3. Accounts Payable
  4. Bank
7
Q

Inventory Debit Side (6)

A
  1. Balance
  2. Bank
  3. Accounts Payable
  4. Capital
  5. Cost of sales
  6. Inventory Gain
8
Q

Inventory Credit Side (7)

A
  1. Drawings
  2. Advertising
  3. Inventory loss
  4. Inventory write down
  5. Cost of sales
  6. Cost of sales
  7. Accounts Payable
9
Q

Capital Debit Side (1)

A
  1. Drawings
10
Q

Capital Credit Side (4)

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