FINAL ACCOUNTS - SPECIAL TRANSACTIONS, BAD DEBTS, CLOSING ENTRIES : LSUS
FINANCIAL ACCOUNTING SSS2 FIRST TERM
WEEK 1
FINAL ACCOUNTS - SPECIAL TRANSACTIONS, BAD DEBTS, CLOSING ENTRIES
Performance Objectives
Students should be able to:
1. What are the accounting entries posted whenever a business owner withdraws cash from the business for private use?
2. What are the accounting entries posted whenever a business owner withdraws goods from the business for personal use?
Contents
SPECIAL ITEMS OF EXPENSES /LOSSES
1. GOODS STOLEN OR DESTROYED
Goods may have been stolen (pilfered) or destroyed during the financial year. When this occurs, the following entries will be passed
Dr Profit and Loss Account
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- FINAL ACCOUNTS - SPECIAL TRANSACTIONS, BAD DEBTS, CLOSING ENTRIES
- FINAL ACCOUNTS – PROVISION FOR DOUBTFUL DEBTS
- FINAL ACCOUNTS – PROVISION FOR DISCOUNTS 2
- FINAL ACCOUNTS – ACCRUALS AND PREPAYMENTS
- DEPRECIATION OF FIXED ASSETS
- DEPRECIATION OF FIXED ASSETS.
- DEPRECIATION OF FIXED ASSETS..
- FINAL ACCOUNTS – FULLY WORKED EXERCISES
- Chapters 8
- Category SSS2
- Author ClassNotes Edu
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