2. Following are some of the ledger, groups and their nature of balances:
S.No. PARTICULARS GROUPS BALANCE
1 Opening Stock Stock-in-hand Debit
2 Purchases Purchase
Account
Debit
3 Purchase Returns Purchase
Account
Credit
4 Sales Sales Account Credit
5 Sales Returns Sales Account Debit
6 Wages Direct
Expenses
Debit
7 Carriage Inwards Direct
Expenses
Debit
8 Factory Rent Direct
Expenses
Debit
9 Freight Charges Direct
Expenses
Debit
10 Power Direct
Expenses
Debit
11 Trade Charges Direct
Expenses
Debit
12 Duties & Clearing
Charges
Direct
Expenses
Debit
13 Coal & Gas Direct
Expenses
Debit
14 Octroi Direct
Expenses
Debit
15 Salaries Indirect Debit
3. S.No. PARTICULARS GROUPS BALANCE
21 Bad Debt Indirect
Expenses
Debit
22 Depreciation Indirect
Expenses
Debit
23 Printing &
Stationery
Indirect
Expenses
Debit
24 Travelling Charges Indirect
Expenses
Debit
25 Office Expenses Indirect
Expenses
Debit
26 Postage &
Telegrams
Indirect
Expenses
Debit
27 Petty Expenses Indirect
Expenses
Debit
28 Trade Charges Indirect
Expenses
Debit
29 Electricity Indirect
Expenses
Debit
30 General Expenses Indirect
Expenses
Debit
31 Commission
Received
Indirect Income Credit
32 Discount Received Indirect Income Credit
33 Interest Received Indirect Income Credit
34 Bad Debts Provision Indirect Income Credit
35 Capital Capital
Credit
4. S.No. PARTICULARS GROUPS BALANCE
42 Sundry Creditors Sundry
Creditors
Credit
43 Bills Payable Sundry
Creditors
Credit
44 Investment Investment Debit
45 Machinery Fixed Asset Debit
46 Furniture Fixed Asset Debit
47 Buildings Fixed Asset Debit
48 Freehold Property Fixed Asset Debit
49 Loose Tools Fixed Asset Debit
50 Patents Fixed Asset Debit
51 Prepaid Expenses Current Asset Debit
52 Receivable Income Current Asset Debit
53 Out Standing
Expenses
Current
Liabilities
Credit
54 Advances Loans &
Advances
Debit
55 Loan to Any Loans &
Advances
Debit
56 Loan from Any Loans
(Liability)
Credit
57 Petty Cash Cash-in-hand Debit
58 Deposit Deposit (Asset) Debit
59 General Reserve Reserve &
Surplus
Credit
