Format Of Balance Sheet

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Format of balance Sheet for railway exam and other competitive exams

Table of Contents

Trading Account ( Format of balance Sheet )

Debit	Credit
To opening stock	By sales less sales return less return inward less return (Dr)
To purchase less purchase returns less return outward less return (Cr)	By closing stock
To carriage inward
To carriage on purchases
To railway freight on purchases
To Coolie & Cartage
To excise & customs
To octroi/custom duty/import duty/excise duty, etc.
To dock charges (inward)
To cleaning charges
To import duty
To wages/production wages, factory wages & salaries
To labour cost, direct labour
To production wages
To factory expenses
To factory insurance
To gas, fuel, power, oil, water, grease etc.

Profit and Loss Account ( Format of balance Sheet )

Debit	Credit
To gross loss transferred from Trading A/c	By gross profit transferred from Trading A/c
To establishment & management expenses	By interest (Cr)
– Salaries & wages	By interest on investment
– Office rent, rates & taxes	By interest on drawings
– Printing & stationery	By interest on bank deposit
– Postage & telegrams	By interest received (earned)
– Telephone charges	By rent (Cr)
– Insurance
– Insurance premium	By rent from sub-letting
– Office lighting	By discount (Cr)
– Electric charges	By reserve on provision for discount on creditors
– Trade expenses	By dividend on shares
– Office expenses	By apprentice premium
– Administrative expenses	By bad debt recovered
– Audit fees	By profit on consignment
– Director fees	By profit on joint venture
– Repairs and renewal of plant	By gain on sale of fixed asset
– Legal expenses	By rebates (Cr)
– Interest (Dr)	By commission received
To selling & distribution expenses	By other income
– Carriage outward/carriage on sales	By miscellaneous receipt
– Advertising expenses
– Export duty
–
– Commission (Dr)
– Traveling expenses
– Distribution expenses
– Salesman salaries & commission
– Packing expenses (out)
– Goods and service tax
– Remuneration to guest
– Brokerage
– Conveyance expenses to work
– Free samples
– Salaries of salesman
To financial expenses
– Interest on loan
– Interest on capital
– Interest on bank overdraft
– Bank charges
– Discount on bills
– Discount allowed
– Depreciation
To abnormal losses
– Loss by fire
– Loss by theft
– Licence fees
– Trading expenses
– Charity
– Loss on sale of fixed assets
To net profit transferred to capital A/c
If debit side > credit side
To net loss to be transferred to capital A/c

Format of balance Sheet

Balance Sheet ( Format of balance Sheet )

Liabilities	Assets
Bills payable	Cash in hand
Bank overdraft	Cash at bank
Trade creditors	Cash at fixed deposit
Creditors/Sundry creditors	Money at call and short notice
Loan A/c / Bank loan	Bills receivable
Outstanding expenses	Investment
Unearned income	Sundry debtors – Debtors (book debtors) – loan
Advance receipt of income	Stock (closing)
Reserves & funds	Stock of goods
Capital add net profit add interest on capital less drawings less interest on drawings less net loss less income tax less life insurance premium (child) less goods used for personal use	Unexpired expenses
Bankers A/c	Prepaid expenses
Loan (Cr)	Accrued income
Supplier A/c	Sundry income
Reserves and surplus	Building & furniture
Creditors for loan	Plant & machinery
Bank overdraft	Land & Building
Bank loan	Motor / Truck / Car / Vichicles
	Book debts
	Household property
	Leasehold property
	Patent rights/copyright/ Design
	Trade mark
	Horses and carts
	Loose tools
	Goodwill
	Advertisement development
	Agent/agent samples
	Customer A/c
	Stock of Stores
	Outstanding Income
	Premises
	Accrued Interest
	Rent Receivable
	Work in Progress