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Financial Accounting
1
Lecture – 13
Recap
• Analysis and Recording of transactions
• Preparation of ledger accounts
• Calculation of ledger balance
• Preparation of trial balance
• Preparation of a basic profit and loss and balance sheet
Financial Accounting
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Lecture – 13
Areas Covered in This Lecture
• Different types of vouchers
• Carrying of balance from one period to the next period
• Recording the transaction of February and preparation of trial balance
Financial Accounting
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Lecture – 13
Voucher
• Specific format
• Control of transactions
• Serial numbered
Financial Accounting
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Lecture – 13
Types of Voucher
• Receipt voucher
• Payment voucher
• Journal voucher
Financial Accounting
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Lecture – 13
Receipt Voucher
• Receipt voucher is used to record receipt of cash or cheque
• Receipt vouchers can be further divided into Cash Receipt and Bank Receipt vouchers
Financial Accounting
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Lecture – 13
Receipt Voucher
Name of the Organization
Bank Receipt / Cash Receipt OR Receipt Voucher
Date: No:
Cash / Bank code: Description / Title:
Description /
Title of Account
Code
#
Credit
Amount
Total:
Narration:
Prepared By: Checked by:
Financial Accounting
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Lecture – 13
Payment Voucher
• Payment voucher is used to record a payment of cash or cheque
• Payment vouchers can be further divided into Cash Payment and Bank Payment vouchers
Financial Accounting
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Lecture – 13
Payment Voucher
Name of the Organization
Bank Payment / Cash Payment OR Payment Voucher
Date: No:
Cash / Bank code: Description / Title:
Description /
Title of Account
Code
#
Credit
Amount
Total:
Narration:
Prepared By: Checked by:
Financial Accounting
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Lecture – 13
Journal Voucher
• Journal voucher is used to record transactions that do not effect cash and bank account
Financial Accounting
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Lecture – 13
Journal Voucher
Name Of Organization
Journal Voucher
Date: No:
Description Code
#
Debit
Amount
Credit Amount
Total:
Narration:
Prepared By: Checked by:
Financial Accounting
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Lecture – 13
Carrying Forward the Balance of an Account
Title of Account Account Code 01
Debit Side Credit Side
Date No. Narration Dr. Rs. Date No. Narration Cr. Rs.
100,000 80,000
20,000 30,000
31-01 Balance C/F 10,000
120,000 120,000
Title of Account Account Code 01
Debit Side Credit Side
Date No. Narration Dr. Rs. Date No. Narration Cr. Rs.
01-02 Balance B/F 10,000
Financial Accounting
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Lecture – 13
Carrying Forward the Balance of an Account
Title of AccountCode __
Date Number Narration Debit Rs. Credit Rs. Bal. Dr/(Cr)
100,000 100,000
20,000 120,000
80,000 40,000
30,000 10,000
31-01 Balance C/F 10,000
Cash AccountPage 01
Date Number Narration Debit Rs. Credit Rs. Bal. Dr/(Cr)
01-02 Balance B/F 10,000 10,000
Financial Accounting
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Lecture – 13
No. Date Particulars
20--
01 Feb 02 Deposited Rs. 25,000 in bank
02 Feb 02 Expense accrued last month reduced by Rs. 5,000
03 Feb 05 Expense accrued last month paid through cheque Rs. 15,000
04 Feb 06 Received Rs. 14,000 cash from Mr. B (debtor)
05 Feb 07 Discount given to Mr. B. Rs. 1,000
Financial Accounting
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Lecture – 13
No. Date Particulars
20--
06 Feb 10 Goods purchased on credit from Mr. A Rs. 60,000
07 Feb 12 Goods sold on credit to Mr. B Rs. 95,000
08 Feb 15 Placed Rs. 75,000 in fixed deposit
09 Feb 17 Paid to Mr. A Rs. 25,000 through cheque
10 Feb 20 Received cash from Mr. B. Rs. 75,000
11 Feb 28 Salaries accrued Rs. 5,000
12 Feb 28 Expenses accrued Rs. 15,000
Financial Accounting
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Lecture – 13
Ali Traders
Trial Balance As On January 31, 20--
Title of Account Code Dr. Rs. Cr. Rs.
Cash Account 01 35,000
Bank Account 02 130,000
Capital Account 03 200,000
Furniture Account 04 15,000
Vehicle Account 05 50,000
Purchases Account 06 60,000
Mr. A (Creditor) 07 15,000
Sales 08 95,000
Mr. B (Debtor) 09 15,000
Salaries 10 5,000
Expenses 11 20,000
Expenses Payable 12 20,000
Total 330,000 330,000
Financial Accounting
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Lecture – 13
01 – Deposited Rs. 25,000 in Bank
Bank AccountCode 02
Date Number Narration Debit Rs. Credit Rs. Bal. Dr/(Cr)
Feb 01 Balance B/F 130,000 130,000
Feb 02 01 Cash deposited 25,000 155,000
Cash AccountCode 01
Date Number Narration Debit Rs. Credit Rs. Bal. Dr/(Cr)
Feb 01 Balance B/F 35,000 35,000
Feb 02 01 Cash deposited 25,000 10,000
Financial Accounting
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Lecture – 13
02 – Expense Accrued Last Month Reduced by Rs. 5,000
Expenses AccruedCode 12
Date Number Narration Debit Rs. Credit Rs. Bal. Dr/(Cr)
Feb 01 Balance B/F 20,000 (20,000)
Feb 02 02 Expenses payable reduced 5,000 (15,000)
Expense AccountCode 11
Date Number Narration Debit Rs. Credit Rs. Bal. Dr/(Cr)
Feb 01 Balance B/F 20,000 20,000
Feb 02 02 Expenses payable reduced 5,000 15,000
Financial Accounting
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Lecture – 13
03 – Expense Accrued Last Month Paid Through Cheque Rs. 15,000
Expenses AccruedCode 12
Date Number Narration Debit Rs. Credit Rs. Bal. Dr/(Cr)
Feb 01 Balance B/F 20,000 (20,000)
Feb 02 02 Expenses payable reduced 5,000 (15,000)
Feb 05 03 Expenses payable paid 15,000 0
Bank AccountCode 02
Date Number Narration Debit Rs. Credit Rs. Bal. Dr/(Cr)
Feb 01 Balance B/F 130,000 130,000
Feb 02 01 Cash deposited 25,000 155,000
Feb 05 03 Expenses payable paid 15,000 140,000
Financial Accounting
19
Lecture – 13
04 – Received Rs. 14,000 Cash From Mr. B (Debtor)
Mr. BCode 09
Date Number Narration Debit Rs. Credit Rs. Bal. Dr/(Cr)
Feb 01 Balance B/F 15,000 15,000
Feb 06 04 Cash received from B 14,000 1,000
Cash AccountCode 01
Date Number Narration Debit Rs. Credit Rs. Bal. Dr/(Cr)
Feb 01 Balance B/F 35,000 35,000
Feb 02 01 Cash deposited 25,000 10,000
Feb 06 04 Cash received from B 14,000 24,000
Financial Accounting
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Lecture – 13
05 – Discount Given to Mr. B. Rs. 1,000
Mr. BCode 09
Date Number Narration Debit Rs. Credit Rs. Bal. Dr/(Cr)
Feb 01 Balance B/F 15,000 15,000
Feb 06 04 Cash received from B 14,000 1,000
Feb 07 05 Discount given to B 1,000 0
discount AccountCode 13
Date Number Narration Debit Rs. Credit Rs. Bal. Dr/(Cr)
Feb 01 Balance B/F 0 0
Feb 07 05 Discount given to B 1,000 10,000
Financial Accounting
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Lecture – 13
06 – Goods Purchased on Credit From Mr. A Rs. 60,000.
Mr. ACode 07
Date Number Narration Debit Rs. Credit Rs. Bal. Dr/(Cr)
Feb 01 Balance B/F 15,000 (15,000)
Feb 10 06 Credit purchases from B 60,000 (75,000)
Purchases AccountCode 06
Date Number Narration Debit Rs. Credit Rs. Bal. Dr/(Cr)
Feb 01 Balance B/F 60,000 60,000
Feb 10 06 Credit purchases from B 60,000 120,000
Financial Accounting
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Lecture – 13
07 – Goods Sold on Credit to Mr. B Rs. 95,000.
SalesCode 08
Date Number Narration Debit Rs. Credit Rs. Bal. Dr/(Cr)
Feb 01 Balance B/F 95,000 (95,000)
Feb 12 07 Credit sale to B 95,000 (190,000)
Mr. BCode 09
Date Number Narration Debit Rs. Credit Rs. Bal. Dr/(Cr)
Feb 01 Balance B/F 15,000 15,000
Feb 06 04 Cash received from B 14,000 1,000
Feb 07 05 Discount given to B 1,000 0
Feb 12 07 Credit sale to B 95,000 95,000
Financial Accounting
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Lecture – 13
08 – Placed Rs. 75,000 in Fixed Deposit
Fixed DepositCode 14
Date Number Narration Debit Rs. Credit Rs. Bal. Dr/(Cr)
Feb 01 Balance B/F 0 0
Feb 15 08 Fixed deposit placed 75,000 75,000
Bank AccountCode 02
Date Number Narration Debit Rs. Credit Rs. Bal. Dr/(Cr)
Feb 01 Balance B/F 130,000 130,000
Feb 02 01 Cash deposited 25,000 155,000
Feb 05 03 Expenses payable paid 15,000 140,000
Feb 15 08 Fixed deposit placed 75,000 65,000
