Accounting Sheet Account Names
Trading Account
| Debit Side (Dr) Accounts |
Credit Side (Cr) Accounts |
| Opening Stock |
Sales (less Sales Returns) |
| Purchases (less Purchase Returns) |
Closing Stock |
| Wages (Direct) |
|
| Carriage Inwards |
|
| Freight Inwards |
|
| Power and Fuel |
|
| Factory/Manufacturing Expenses |
|
| Customs/Import Duty |
|
| Octroi/Entry Tax |
|
| Packing Charges (Direct) |
|
| Other Direct Expenses |
- Factory Rent
- Factory Lighting
- Factory Insurance
- Factory Repairs and Maintenance
- Factory Supervisor’s Salary
- Gas, Water, and Power
- Royalties (on production)
- Excise Duty
- Hire Charges of Plant/Machinery
- Direct Consumables
- Cost of Special Tools/Patterns
- Production Bonus/Incentives
- Drawing and Design Charges
- Motive Power
- Sub-contracting Charges
- Cost of Packing Material
|
|
Profit and Loss Account
| Debit Side (Dr) Accounts |
Credit Side (Cr) Accounts |
| Gross Loss (if any, from Trading Account) |
Gross Profit (from Trading Account) |
| Salaries and Wages |
Other Operating Income |
| Rent, Rates, and Taxes |
Non-operating Income (e.g., Interest, Dividend) |
| Office/Administrative Expenses |
Profit on Sale of Assets |
| Selling and Distribution Expenses |
Commission Received |
| Marketing and Advertising Expenses |
Miscellaneous Income |
| Repairs and Maintenance |
|
| Insurance (General) |
|
| Depreciation and Amortization |
|
| Bad Debts Written Off |
|
| Provision for Doubtful Debts |
|
| Interest Paid (Finance Cost) |
|
| Bank Charges |
|
| Loss on Sale of Assets |
|
| Legal and Professional Fees |
|
| Audit Fees |
|
| Miscellaneous Expenses |
|
| Income Tax/Provision for Tax |
|
| Net Profit (transferred to Capital/Reserves) |
|
Balance Sheet
Debit Side (Dr) Accounts
Assets |
Credit Side (Cr) Accounts
Liabilities & Equity |
| Cash and Cash Equivalents |
Accounts Payable |
| Accounts Receivable |
Notes Payable |
| Inventory |
Accrued Expenses |
| Prepaid Expenses |
Short-term Loans |
| Short-term Investments |
Current Portion of Long-term Debt |
| Advances (to suppliers, employees, etc.) |
Other Current Liabilities |
| Long-term Investments |
Long-term Loans |
| Property, Plant & Equipment (Fixed Assets) |
Bonds Payable |
| Accumulated Depreciation (contra-asset, deducted) |
Deferred Tax Liabilities |
| Intangible Assets (Goodwill, Patents, etc.) |
Other Non-current Liabilities |
| Other Non-current Assets |
Share Capital (Common/Preferred Stock) |
|
Share Premium/Additional Paid-in Capital |
|
Retained Earnings |
|
Reserves and Surplus |
|
Minority Interest (if applicable) |
|
Other Equity Components |
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