Vertical format for trading account, profit and loss account & balance sheet

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Vertical format for trading account, profit and loss account & balance sheet

  1. 1. Example WorksheetGiven below is the trial balance as at 31.12.2005 Trial BalanceACE TRADINGDetails Debit (RM)Bank 20000Trade Receivables(AR)Akaun Belum Terima 12000Peruntukan Hutang Ragu(Provision for Doubtful Debts)Building 100000(-)1Depreciation Building 20%Office Equipment 18000(-)1Depreciation 33.33%Insurance 1800Trade Payables (AP)/Akaun Belum BayarLoanWages 20000SalesPurchases 90000Advertising 12000Water, electricity and telephone 3000Stationery 1800Commision receivableInterest Expense 2000CapitalBelanja Insurans Terdahulu (a)Belanja Telefon terakru (b)Komisyen diterima terakru ©Belanja Faedah Terakru (d)Belanja Susutnilai bangunan (e)Belanja Susutnilai peralatan pejabat (f)Peruntukan Hutang Ragu Trade Receiable (g)Untung KasarUntung BersihTotal 280600AdjustmentsAt 31.12.2005 the following adjustments are to be made:a) Insurance prepaid of RM600b) Accrued telephone charge RM300c) Commision earned but not received RM1200d) Interest accrued RM400e) Depreciation on building is RM1000f) Depreciation on Office equipment is RM2000g) Provision for doubtful debts is at 5% on debtors.Asset=Liabilities + Owner Equity + Income - ExpensesEp=Opening Capital+Additional Capital-Ambilan + net Income (-net Loss) = closing capital.
  2. 2. Adjusted TrialTrial Balance Adjusment Trading Account Profit and Loss Balance Sheet Balance Credit Debit Credit Debit Credit Debit Credit Debit Credit Debit (RM) (RM) (RM) (RM) (RM) (RM) (RM) (RM) (RM) (RM) 20000 20000 12000 12000 200 400 600 100000 100000 20000 1000 21000 18000 18000 6000 2000 8000 600 1200 1200 14000 14000 40000 40000 20000 20000 150000 150000 150000 90000 90000 12000 12000 300 3300 3300 1800 1800 3600 1200 4800 4800 400 2400 2400 46800 46800 600 600 600 300 300 1200 1200 1200 400 400 1000 1000 1000 2000 2000 2000 400 400 400 60000 60000 20700 280600 5900 5900 285900 285900 150000 150000 64800 64800 151800
  3. 3. Balance Sheet Credit Analisis FSElements (RM) BS AS BS AS 600 BS BS AT 21000 BS SNT BS AT 8000 BS SNT P&L Belanja 14000 BS LS 40000 BS LJP P&L Belanja Trading Account Jualan Trading Account Belian P&L Belanja P&L Belanja P&L Belanja P&L Hasil P&L Belanja 46800 BS Owner Equity BS AS 300 BS LS BS AS 400 BS LS P&L Belanja P&L Belanja 20700 151800 0
  4. 4. ACE TRADINGTrading Account for Year Ended 2005 RM RM RMDetailsSales 150,000.00(-) Return inwards/Pulangan Jualan 0.00Net Sales (Jualan Bersih) 150,000.00(Less) Cost of Sales/COGS/Kos JualanOpening Stock/Stok Awal/Inventori awal 0Purchasing/Pembelian 90,000.00(-) Return Outwards/Pulangan Belian 0.00Net Purchases/Belian Bersih 90,000.00(+) Carriage inwards/angkutan masuk 0.00(+) Custom duty/duti kastam 0.00Cost of purchases 90,000.00 90,000.00(-) Closing stock/Inventori akhir 0 90,000.00Gross Profit/Untung kasar 60,000.00
  5. 5. ACE TradingProfit and Loss Accounts for the year ended 2005 RM RM RMDetailsGross profit/Untung Kasar 60000(Add) Revenue/Income/HasilDiscount received 4800Rent received 0Commision received 0Bad debt recovered/Hutang Lapuk Terpulih 0Total Income 64800(Less) Expenses:Belanja Insurans 1200Wages/Upah 20000Belanja Iklan 12000Belanja Utiliti 3300Belanja alat tulis 1800Belanja Faedah 2400Belanja Susutnilai bangunan 1000Belanja Susutnilai Pejabat 2000Belanja PHR 400Total expenses 44100Net Profit 20700
  6. 6. ACE TRADINGBalance Sheet as at 31st December 2005 RM RM RMFixed Assets/Aset Tetap/Non Current AssetsBuilding 100,000.00(-) SNT Building 21,000.00 79,000.00Office Equipment 18,000.00(-) SNT Office Equipment 8,000.00 10,000.00Current Asset/Aset SemasaBank 20,000.00Debtor/Account Receivable/ABT/Akaun Belum Terima 12,000.00(-)Peruntukan Hutang Ragu 600.00Belanja Insurans terdahulu 600.00Komisyen diterima terakru 1,200.00 122,200.00 DebitCurrent Liabilities:Creditor/AP/Account Payables/ Akaun Belum Bayar 14,000.00Belanja Telefon terakru 300.00Belanja Faedah Terakru 400.00Long Term LiabilitiesLoan 40,000.00Owners EquityOpening Capital 46,800.00(Add) Net profit 20,700.00(Less) Drawings/Ambilan 0.00(Add) Additional Capital 0.00Closing Capital 67,500.00 122,200.00 Credit
  7. 7. Vertical Form Accounting Period/Tempoh PerakaunanTrading and Profit and Loss Accounts for the year ended 31st December 2008 RM RM RMSales/Jualan x(-) Return inwards/Pulangan Jualan xNet Sales/Jualan Bersih x(Less) Cost of Sales/COGS/Kos Jualan Cost of goods soldOpening Stock/Stok Awal/Inventori awal xPurchasing/Pembelian x(-) Return Outwards/Pulangan Belian xNet Purchases/Belian Bersih x(+) Carriage inwards x(+) Custom duty/duti kastam xCost of purchases x x(-) Closing stock/Inventori akhir x xGross Profit/Untung kasar x(Add) Revenue/Income/HasilDiscount received xRent received xCommision received xBad debt recovered/Hutang Lapuk Terpulih x x X(Less) Expenses:Discount allowed xRent/Sewa xGeneral Expenses/perbelanjaan am xRates/Kadar faedah xDepreciation/Susut nilai xProvision of doubtful debt/peruntukan hutang x raguWages and salaries/upah gaji xCarriage outwards x xNet Profit X
  8. 8. Kunci Kira Kira padaBalance Sheet as at 31st December 2008 RM RM RMFixed Assets/Aset Tetap/Non Current AssetsFixtures and Fittings/Lekapan dan lengkapan xFurniture xVehicle (-) belanja susut nilai xPremises x xCurrent Asset/Aset SemasaClosing Stock/Stok Akhir/Inventori Akhir xDebtor/Account Receivable/ABT/Akaun Belum Terima xCash xBank x X(Less) Current Liabilities:Creditor/AP/Account Payables/ Akaun Belum x BayarOverdarft x xWorking Capital x XOwners EquityOpening Capital x(Add) Net profit x(Less) Drawings/Ambilan x(Add) Additional Capital xClosing Capital xLong Term LiabilityBank LoanDebentures xBon X
  9. 9. Two column cash book Three column cash book Cash BookDate Details F Cash Bank Date Details F Cash Bank Date Details
  10. 10. hree column cash book Cash Book F Dis Cash Bank Date Details F Dis Cash Bank
  11. 11. Debit (If the amount of the account increase) Credit (If the amount of the account increase)Asset LiabilityPurchases SalesReturn Inwards Return OutwardsExpenses RevenueDrawings Capital

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