Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
64 Cards in this Set
- Front
- Back
Sales
|
Income (credit)
|
|
Fees received
|
Income (credit)
|
|
Sales returns
|
(Income)
|
|
Cost of goods sold
|
(Income)
|
|
Distribution costs
|
Debit
|
|
Advertising
|
Distribution costs
|
|
Sales wages
|
Distribution costs
|
|
Shop rent
|
Distribution costs
|
|
Delivery expenses
|
Distribution costs
|
|
Depreciation on delivery vehicles
|
Distribution costs
|
|
Depreciation on shop equipment/fittings
|
Distribution costs
|
|
Shop electricity
|
Distribution costs
|
|
Petrol and oil
|
Distribution costs
|
|
Administrative expenses
|
Debit
|
|
Office expenses
|
Administrative expenses
|
|
Bad debts
|
Administrative expenses
|
|
Doubtful debts
|
Administrative expenses
|
|
Depreciation on office equipment/buildings etc
|
Administrative expenses
|
|
Accountancy fees
|
Administrative expenses
|
|
Rent
|
Administrative expenses
|
|
Telephone
|
Administrative expenses
|
|
Electricity
|
Administrative expenses
|
|
Insurance
|
Administrative expenses
|
|
Discount allowed
|
Administrative expenses
|
|
Office supplies used
|
Administrative expenses
|
|
Stationary
|
Administrative expenses
|
|
General expenses
|
Administrative expenses
|
|
Finance costs
|
Debit
|
|
Interest on morgage/loan
|
Finance costs
|
|
Current assets
|
Debit
|
|
Bank
|
Current assets
|
|
Petty cash
|
Current assets
|
|
Accounts receivable
|
Current assets
|
|
Allowance for Doubtful Debts
|
(Current assets)
|
|
Inventory
|
Current assets
|
|
Prepayments
|
Current assets
|
|
Accrued revenue
|
Current assets
|
|
Supplies on hand
|
Current assets
|
|
GST receivable
|
Current assets
|
|
Property Plant and Equipment
|
Debit
|
|
Land
|
PPE
|
|
Buildings
|
PPE
|
|
Fixtures/Fittings
|
PPE
|
|
Vehicles
|
PPE
|
|
Shop/Office Equipment
|
PPE
|
|
Accumulated depreciation
|
(PPE)
|
|
Investments
|
Debit
|
|
Term Deposit
|
Investments
|
|
Shares in ABC
|
Investments
|
|
Intangibles
|
Debit
|
|
Goodwill/patents
|
Intangibles
|
|
Current liabilities
|
Credit
|
|
Bank overdraft (credit)
|
Current liabilities
|
|
Accounts Payable
|
Current liabilities
|
|
GST payable
|
Current liabilities`
|
|
Accrued expenses
|
Current liabilities
|
|
Income in advance
|
Current liabilities
|
|
Non current liabilities
|
Credit
|
|
Morgage
|
Non current liabilities
|
|
Loan
|
Non current liabilities
|
|
Equity
|
Credit
|
|
Capital
|
Equity
|
|
Drawings
|
(Equity)
|
|
Net Profit/Loss
|
Equity, profit (loss)
|