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IGCSE - Accounting Formats

The document outlines various accounting formats and principles, including double-entry bookkeeping, financial statements (income statement and balance sheet), trial balance, and petty cash book. It also covers topics such as depreciation of non-current assets, bad debts, bank reconciliation, and accounts for manufacturing and incomplete records. Additionally, it provides examples and formats for journal entries, control accounts, and partnership accounts.

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Rekha
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1K views29 pages

IGCSE - Accounting Formats

The document outlines various accounting formats and principles, including double-entry bookkeeping, financial statements (income statement and balance sheet), trial balance, and petty cash book. It also covers topics such as depreciation of non-current assets, bad debts, bank reconciliation, and accounts for manufacturing and incomplete records. Additionally, it provides examples and formats for journal entries, control accounts, and partnership accounts.

Uploaded by

Rekha
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF or read online on Scribd
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Accounting Formats ¢ Double Entry Bookkeeping ¢ Three Column Running Balance © Financial Statements — Income Statement (Vertical and Horizontal e Financial Statements — Balance Sheet (Vertical and Horizontal) ¢ Trial Balance e Petty Cash Book + Example ¢ Depreciation of Non-current Assets © Disposal of Non-current Assets « Bad Debts ¢ Provision for Doubtful Debts © Bank Reconciliation Statement e Manufacturing Accounts e Incomplete Records e Limited Company Accounts © Accounts of Clubs and Societies ¢ Journal Entries and Correction of Errors * Control Accounts e Partnership Accounts Double enty bookkeeping XXX Leolger X= Account Page 2 Date — Detoils & | Date Detuils $ Brsmas (Owner Cash Book Page 3¢ Date Detrils [Paiete’ | Cash [Bank [Date Detate [rerened [Cash [Bante ¢ |) 8 ¥1e 1g | | Double enky bookkeepir T- hemat De ° X~ Actount Gn Date Details $ {Date Oetorh ¢ Stolumn vuwiny balance dormat X = Account — Date Details | Debit [ Geait | Balance _s s ¢ | ?0 20 dr | 40 | Wr lo lO ~ Financial statements Income statement dvthe year endeel .. € | $ | $ 0 ¢ Opening mnvertto wy XXX [Revenve (Sales). XXX Purchases xXx | Lees Sales returns OOD xX Lea Purchase eta | 0 | | =e | Add Cowiage aware _XX XX | les Goods fv om use (CX) XK | | Xxx | Leis closing ivvenbvy xx) Gost of goods sole} XX Goss pohit cld aK xX XK ~~ pied a — Discounts allowed XX Gross profit b/el XX Iwtereat X Discounts receiveel | x Rent | X —_|lommissions weceive | x Wages | X [Interest we ceived | Xx Stationery _ X | Gain on diepo sal of x Geneeal expenses XX [Rent vecewed |X Depreciation of |X | Total revenue XXX Loss on disposal of xX | bal Cawiage outwards X Total expenses XXX Frodit dv the year XK is Income statement dv the yeav ended... Kevene (Sales) Ley Saley returns Less cost of sales Opening inventory Purchase Leas Purchases retwns Add Guriage wwards Les Gooch for own use Les Closing ventory Gross profit Add Other Income Commissions received Interest veceweo) Reut vecerveol Gran on oluposal f Discounts ve ceveol Les Expenses Discounts alloweel Inaterect Rent Wage Stationery General expenses Depreciction of Loss on olsposal of — Gowiage out warels Profit for the year aes $ ESS XXX | al Cxx) | XXK | XXX XX | i oO XX | Xx | p xX . © x of XXX | C0) OX) S| XX Tx | x lx fe | x \_ XXX xnx_| | _ x =| | | x | | x | XX | x | x | X% | XXX | | |_ XX Financial State ments Balance Sheet as at... Non-Cuvert Assets $ | $ $ | $ Premises XK | Gpital at start | XKx Machinery | XXX | Adel Pot dr the year | xx Fixtures anal tings | XX Lf Xxx Okie equipment | XX | Lew Drawings | OD Leas depreciation ot 1) X — |Goital at end XX Ace equigment Non- Guvvent bicbilitres XXXK | Bank Canel offer) loons XX Curent Asset | | : lnverttony XxX Cucevd Liabiltig | Tenule receivables xx [Trade payables | XX Other receivables xx Other paxables | Xx Bank [xx | Gank overdraft X XX Gah XxX | XXXXK | OKKK | pos) Pee Balance Sheet ao at... Gs Depreciation [Net book fi date | value Now -Cuwent hysels [ats g. | $ Premises | xxx | Xx | xx Machinery ; | xxx, xXx XxX Fixtures anol &ttingg 1 | Xx xX | x Okfice equipment xx xX | X 1 3000GC | OOO | OX Gavent Assets | | - (aventowg LXXK Trade veceivables xX | Other ve ceivables [xx | Bank bg X Gah AA sat _ XXX Cuvent Liabilties Bes Trade payables |XX Other payables | xXx% x Rank ovevdra Ht {xX CXX) Net current assets XK OOK Now -Camend Liq bilities Gank Cond other) loans Com) | | XXX Financeel by = wner's E Caprtal at stavt XXX Profit for the year | | XX | XXKX Less Drawings | (xx) Gotal ot enol K | XXX Trial balan ce Trial balance at... Details Debit Gedit $ $ af Premises XXKXK Fixtumes xX lnverttony x 2 Trade ve cavables x Beauk a oo { Trade payable x Other payables x NAC 4 Bank Comal offer) loans XXK Ee (Goites XK ineoios { Drawings Xx co = oe eX. oy General expenses x Reut X Revenue ae ve ceiveol x Discounts received a re | 200606 YEKK showd loalance. (F not... eros ane present © FIX IT. 2 Cloveetion of coors & Journal eta) Petty Gah Book DB Petty Gal Book. 6 Date | Details | Total Recaveal | Date [Details (He: | Bay [Annly sis Golomns a ee |s [4] sls | er Vo.No. is an abbreviation of “voucher munmber’. Example ety Cash Book at back a cre D000) 2902 > 2apndno7 4s spovag AW] opie Filige Plan Qs) P/4 Dumps anor 067 vasuadxa (rv Bhvopn Mg VAL “on “an Suajag na) 20 acy "oR Depreciation and Dsposal «} Non- current Assets \. Pepreciation of 207 4 Year endl: 31 Dec. 20-% per annum, Straight-line method Fixtures 0-4 § | 90-4 g Jon! Bank (4). 4000 |Dec 31 Balance c/el (ove SAL LB eank (8) 8000, (3000 Tew Provision dr depreciahon of dirturta account 0-4 “$ [90-4 $ Dec 31 Balance cle 7600 \Dec3\ Income statement | (4) Qov0x 207) 100 | (6) 00207 x &) %00 DiuU. 2600 20-$ 20-5 De3) Balance cde} 6200 |Jont Balance blah 2600 Dec 3) Income statenteny, 4 -(4000x 1) | 800 _ B-(eouv x07) (600 6200 ee D [20-6 [Saal Gakwrce b/ol 6200 2. Revaluation Method Nowinal Ledger Ficdures Account ! Do-4 $ |D0-4 $ San! Bank 4000|Dec 31 Income statement * {000 Sul | Bank S000 Gala del loovo (tov0 (%ovo W-S Z Sen! Balance bla | O0v0 # [alan ang igure 3. Disposal uf Non- cumert Aseti Nominal ledger Fixtures Account 20-3 $ 20-7 July | Bartle 75000 Tul 1 Disposal gee S000 ee ad ee Provision ov deprecahon Hs dixtaces Gare $ Do-t 20-4 { $ Tul 1 Disposal 21%0 Sul Balance ble ae Io. To sy - Disposal of Firturea accouwt 0-4 $|0-# $ Fuld Fixtimes Sall Pravsion dv depreciation — Pltto Traders Ltd. Sogo 0-5 [Smo Mone Se) wee 7S000 i 2svo0 Note: | move than one fixed aret Cnon-cumert asset) is entereal in the nominal edger, but only ome is being diigosed, the As posal entries m the nominal ledger anal provision &r depreciation account shoulel ouly pertain t the asset being dis poseal. Geol debts and Provision dr Doubt&l Debt 1, Bed debt and bad debra recovered! Sale Ledger X= Gloves Account 70-2 ¥ [90-2 $ Feb\ Sales XX |Feb 2 Bank XX Sales xx Discount Allowesl x [Dec 30 Bad olebts x XXL OX Nonimal Ledger Baal delot Account 70-2 § | 30-2 $ Dec 30 X- Stores (specidic for X |Dec31 tome statement xX X Stores only) x | x 0-3 pen Do =s Dec 31 Bebtow wntlen vp XX Dec 3 Income statement XK Gurmadatve fe al) OL xX dete ) Ly if unspeaidied us thic — On 30-3, dct 31, a cheque of X amount was received fom X- stoves (note that it is AFIER being wtten udt) Bad olebts recovercol crccount 20-3 $ [90-3 - £ Dec 31 Icome Statement Oct 31 Banle x xX | Note how Debtov X- Stoves is NOT wvolved in this transaction Double enty.. Or tate Banle Cr Income statement 2. Provision dor doubt dal debts 7 mm ' => $5000 trade recewables, 4% provision 4v doubt Gil debts Ly Bal bel 4 provision for cloubt te! debt = $1600 Year encl is 31 May 20-4 Provisen dor cloubt al debt cecoud Te DUES eg > SN Mag3\ Balance ell 1000 \Jua| Balance béel miécon Invome statement + 600 4 v0 4 _éoo fe s a __» Extract dom (ncome Statement bv the yerw enclee| 31Mey 0-4 Gen pelt can is eR ox Adel seduction m provision dev doubt kl debts # ___ 60 _| Exleact Gow Bolonce Sheet aa ot 31 May 20-4 _| Coment Ascets Cy adele $ Trade vecevables se ug: 28000 - Less Pevision for doubtful cleloe (000 Ptovw ¥ Balancing fg rwe AF Balance Ld of provision yr doubid.) debe account Crew prvisan for cloubtdhl dels fov_the year ) is more than the _ balance bof Cie. peovuion fev dowbtdl debts dovthe prevovs _ env), this appends in the expense columa aa 50... REMEMseEre! alos shown inthe mame statement Expense, U = Cayven! year balance - Prewowe geav balance § Provision or cloubl fil clebb _ RX Ldbwever whelber the income slalement shows wecast ov reclcton Ponsign $v coubldal celts Chal encod Sovthe year is. still reduceal inthe loalance sheet dom trade receabler & Bank veconaliation statements Cosh Book (Bank loluwns ovly) 70- (untowect balance) $ [Do=* + Moy \ Balance b/d XX Mag | Conection of evo x Dividends veceiveal xX | Bank chang es xX Gedy Y— X | Debtor 2= x Dishoneweed chegue Dishonowrel cheque (Ent), i 2X4 (Einty) x, x Balance elol xXx XXY 248 Gomected balance) Mas Balance bol K, Dicect trans fers tothe busmers fom othe (ey, stamching order) K Dwect trates te othen fromthe buanew (eg. divert olebit) Bank reconaliation statement at : § $ Gah book balance XX Adel Unpresentedl Cheque - A xx -B OG XOX XK Less: Unceeolitesl Deposit ~ © xx -D xX Cxxx) Bank Statement Balance ; XK Note: [¢ bauk ctatement balance is vreol at stavt.. Add Uncetclteel de posit Less Unpresented chegue ; Fil balonce < Gah book balance & \E thee is a bank overdral... Both cash boole gnd bank statement balewces ave negative Genoted by brackes - Gx) Ss X= Manutactving Compas No, “ Manufacturing Acourl bev the year endeol ... wre: $ “Cost o| materials con ee i XX xx = — Coriage on purchase of raw Garena xx ae Ce SKK X a © Leas closing wnventory of raw materials Co) XXX Direct Wages XXX [Dect expenses Royaltien la XX ~ Rental special equipment a xe XxX Prime cost a XXXX Factory overheads Inolicect wages | xx __Nesurance api KX Rent anol rates XX General expenses - x i Faiboalpstee |x Xxx - | a XDOK Add Opening work in progress XX_ ene. | | xxx Lets Closing work im progress x) Production cost of goods completed XXXOK “Unit cost = Production cost of goods comple ten Number ud: wns proclaced a X-Manuaclning Canpong Pete a clncome statement dow the scotch = Revenue Csales) sel tz | XXx Less Cost of sales foes bh Red eee Opening inventory uf Finishea goods KK oe Production cost govds completed XX on Purchases of dineshea goooly——- XX fe ‘ XXX be Leas closing inventory of funished goods (xy) | Xx Gass pradit on) XXXX__ X-Man tactuving Compaoy - ted Balance sheet as ad... | Carvent Assets $ ¢ | Invertovies ~ Raw materials bl Xx [ a er in png A | Finished goods es | 4X a z an XO x Incomplete vecordy Statement of Affais at... Ga rae Pat Non- Cuwent Assets § $ $ Premises XXX XX XX Equipment xXx x [x XOOK | XK | OOK Cawent Assets lverrtongy | XX Trade receivables | xX Kank | x Cub | x we Cuwent Liabildties Trade Payables UR Oe Other payaloles x Ix) Net cuwent assets | | XxX / [0c Now- Cuvert Liabilities OQ) XxX Financeel Owner's Ey : Gpital at start XXX, Addl Adaltonal Gortal | xx Protit fov the year ¥x LOK Leas Dea wings (xx) Gortal ad ensl XK Ss Glleulote.... Sales for the year QOXX Total trade receivables account Doxx $ [Dom $ Date, Balance b/el XX |Date, Rank XOX Onl Se Balance clel Xx Oak, Sales % XK XOK | OBR Balancing figure Purchages dow the year L Total trade payables accovrt 20Xx POxX i $ Date, Bank XXX Date, Balance 6/0! x Balance eA x [90x Dete, Purchases * wx eee eK Closing bauk balance Sank account FOXX $ [Dox ¢ Dect, Balave ce bdd XX | Date, Total Pagmr ents YX DOXK Balance cll * xx Date, Total veceioty xe XOX) DOK x | Date, Balance blol Lonted Company Accounts Extract Gum Income Statement dov the yeov endeol - Expenses — Preference shave dividencl XXX bs Total x G%h = XXX Cote! paid total accruedl) Rodit and Loss Appropriation Accout dov the _yeav endeol... T | $ $ Rodit dev the year XXX XK Less Tram fer to general vesewe xX Ocdwrry share divideuel — Paid XX ~ Proposeal xX Oxo Retaueel ptt fv the year mK = Retacned pulit brought dovwarel XX Retaned pofit caved Gvwared XL Balance sheet as at... Gortul anol Reserves : $ x L Preference shaves at $a each XXXX Ovelhnawy shaves at $b each XXXX General veseve Retemed profit Shave holders! furals Balance sheet af... Gedo: Amounts falling due vith ome yeow ES Crposed olvidencs Crediton: Amounts falling duc ater more than one year 2% Debentuces si DOXX Date 2OXY Date, DOXxy Date, Accounts Clubs and Societies Receipts ang Pagunerets Ac count fv the year ended... Recapts $ Fagments & Oxy Balance blol XXX |Dak, Purchases XX Wages - Afileties coach Subseriptions XXX ~ Shop assistant — X Receipts om shop xX Rees anel imsurance xX _ Competition enteg adussion Fees x Greneral expenses x _ Equipment XX Competition expenses A Galonce c/o} XX HOE XXX Balance bol 0 i ee Shop income statement fov the gear encled.... o $ Revenue (Sales) XXX Ley cost q sales Openmg uaventong ia Purchases ls X xX Less closing mventorg (€) Cost of goods solal xXx Wages of shop assistant x &xx) Po fit on shop (transfered to Income and Expenclilare accourt) XX | Income and expenditure account fv the year enced... $ Income Sub scriptions XXx Prodit on shop xx Competition - Entrance fees xx — Cost df prges CS X d XXK Expen olture La Wages ~ Athletics coach fo XK wes anol insurance x A General expenses X Depreciation of equipment xX | Oe | x Suv plug dov the year Balance Sheet ao at... [G4 Pa ue Non - cuwent Assets |. + $ | $ Premises XXKK — | xxxK Equipment YK XK | XX XXOC | XK XOOL CGawvent Assets

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