Specimen of Trading Account Dr.

Particulars
Opening Stock Purchases Less: Purchase returns

Amount Rs.

Particulars
Sales Less: Sales return Goods distributed as free samples Goods drawn for personal use Goods destroyed by fire Goods stolen Goods given as charity Goods sunk Closing Stock Gross Loss (Transferred to profit and loss A/c)

Cr. Amount Rs.

Purchase Expenses:
Wages Carriage Inwards Railway freight Octroi Custom Duty Demurrage Dock (godi) charges

Manufacturing Expenses:
Manufacturing wages Factory expenses like rent, taxes, electricity, energy, coal, gas, other materials used, oil, grease, depreciation of factory premises, plant and machinery etc. Gross Profit- (Transferred to Profit and Loss A/c)

Specimen of Profit & Loss Account Dr. Particulars

Gross Loss (Transferred from Trading A/c.)

Amount Rs.

Particulars
Gross Profit (Transferred from Trading A/c)

Cr. Amount Rs.

Administrative Expenses
Salary, PF Contribution taxes, rent Printing and Stationery, Postage and Telegraph Expenses, Insurance Premium, Legal Exp., Audit Fees etc.

Other Incomes
Interest received Dividend received Rent received Commission received Brokerage received Bad Debts returned

Selling & Distribution Exp.

Advertising Expenses Discount Allowed Salary & commission to salesmen Traveling exp. & allowances Show room expenses Carriage Outward Packing expenses

Interest on drawings Other Incomes Net Loss ( Transferred to Capital A/c)

Financial Expenses
Interest on capital Interest on loan Interest on Bank Overdraft Bank Charges Discount Reserve Misc. expenditure and Loss Bad Debts Reserve A/c Bad Debts (as per trial balance) + Bad Debts (as per adjustments) + Bad Debts Reserve (To be maintained as per adjustment) - Bad Debts Reserve (as per trial balance)

Particulars
To Discount Reserve on Debtors: Discount allowed ... + Discount reserve on debtors (as per adjustments) - Discount Reserve on debtors (as per trial balance) Depreciation on Assets Charity, loss by fire or due to theft Net Profit (Transfer to capital A/c)

Amount Rs.

Particulars

Amount Rs.

Specimen of Balance Sheet

Liabilities Capital 1) Share Capital

+ Addition to Capital + Interest on Capital + Net Profit Less: Drawings - Interest on drawings - Net Loss

Amount Rs.

Amount Rs.

Assets Property 1)Fixed Assets:

Goodwill Land Building Machinery Furniture Tools Assets on lease Vehicles Copy Rights Patents Trade Marks

Amount Rs.

2) Reserves & Surplus 3) Secured Loans

Debentures Loans from Bank or Financial Institutions e.g. GSFC Loan Other Loans and advances

2)Investments:
Govt. Securities Shares or Debentures of a company Loan given

4) Unsecured Loans
Fixed Deposits

5) Current Liabilities and Provisions

Bills payable Creditors Provident Fund Bank Overdraft Outstanding expenses Income received in advance Provision for tax

3)Current Assets:
Closing Stock Bills receivable Debtors Stock of Stationery and Postage Stamps Bank Balance Cash on hand Outstanding incomes Pre-paid exp.

4) Miscellaneous Expenditure
Preliminary Expenses Deferred Revenue expenditure E.g. Advertisement Suspense A/c