Page 9 - Chapter-11.pmd

Accounts from Incomplete Records 445

Total Creditors Account
Dr. Cr.
Date Particulars J.F. Amount Date Particulars J.F. Amount
Rs. Rs.
Cash paid .... Balance b/d ....
Bank .... Bank (cheques ....
(cheques issued) dishonoured)
Bills payable .... Bills payable ....
(bills accepted) (bills dishonoured)
Discount received .... Credit purchases ....
Purchases return ....
Balance c/d ....
xxxxxxx xxxxxxx

Fig. 11.4 : Showing format of creditors account

For example, consider the following transactions relating to M/s Kisan Food Suppliers:
Rs.
Opening balance of creditors 40,000
Closing balance of creditors 50,000
Payment made in cash 85,000
Discount received 2,000
The total creditors account will be prepared as follows :

Books of Kisan
Food Suppliers
Total Creditors Account

Dr. Cr.
Date Particulars J.F. Amount Date Particulars J.F. Amount
Rs. Rs.
Cash 85,000 Balance b/d 40,000
Discount 2,000 Credit purchases 97,000
(balancing figure)
Balance c/d 50,000
1,37,000 1,37,000

11.4.2 Ascertainment of Credit Sales
The figure of credit sales is also not usually available from incomplete records.
Some other information on related to debtors may also be missing. Therefore, if
the total debtors account is prepared as shown in figure 11.5, credit sales or any
other missing figure, as the case may be, can be traced out as the balancing figure.

2015-16