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Flashcards in Ledgers Deck (8)
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1

Give the Profit and Loss Summary Debit Side (For a profit)

Expenses
Capital

2

Give the Profit and Loss Summary Credit Side (For a profit)

Revenues

3

Give the Disposal of NCA Debit Side (For a profit)

NCA Name (Vehicle)
Profit on disposal of the NCA

4

Give the Disposal of NCA Credit Side (For a profit)

Acc Depn of NCA
Bank

5

Give the Inventory Credit Side

Drawings
Cost of Sales
Accounts Payable
Cost of sales
Inventory loss
Inventory write down
Advertising

6

Give the Inventory Debit Side

Balance
Accounts Payable
Cost of sales
Capital
Bank
Inventory Gain

7

Give the GST Clearing Debit Side

Bank
Bank
Accounts Receivable
Accounts Receivable
Accounts Payable

8

Give the GST Clearing Credit Side

Balance
Bank
Accounts Payable
Accounts Receivable