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Incomplete Records

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Accounts from Incomplete Records (Single Entry)

•

Rules to be understood:1
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2
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(Cash/Bank A/c may be given)
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From one A/c, we can find out only one missing figure
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Let us know basics
Asset A/c (Real & Personal Account)

Liability A/c (Personal Account)

Asset A/c (Real/Personal A/c)

Liabilities A/c (Personal A/c)

₹

Dr
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₹

Dr
...
)

(Opening Bal
...

Always Debit
Balance
(Opening Bal
...


₹

Cr
...


₹

Cr
...
)

1

Incomplete Records

Understanding About provision:Following items are normally missing & can be calculated in following ways
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Sales

Prepare Debtor A/c

Find out C
...
G
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Refer instruction

Prepare

Given in problem

Cash A/c to find
out cash Sales
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xx

1
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Ratio / Turnover

Given in problem)
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2
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May be last

(-) Opening Stock

xx

Year’s sale is

cash

Purchase

xx

given & increases

Purchases

Credit purchase

xx

(+) Cash purchase xx
Total Purchase

xx

Or
Prepare Trading A/c -

Opening closing bal
& payment to

Balancing Figure

To find out

in current year is
Given
...
Ratio / creditors
Turnover is given

creditors shall be
given in problem
2

Incomplete Records

3
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- Prepare Fixed Asset A/c or
- Refer Instruction
...


Opening or closing bal
...

- Prepare respective Accounts or;
- Incase of Debtors & creditors, opening or closing balance can be calculated
using ratios, if given in problem
...


Opening Capital Balance is missing
...


6
...


Expense or Income related to current year is missing

7
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Particulars

₹

Total Expenses Paid

xxx

(+) Outstanding of current year

xxx

(+) Prepaid expenses of last year

xxx

(-) Outstanding expenses of last year

xxx

(-) Prepaid Expenses in current year

xxx

Expenses to be debited to P&L A/c

xxx

(Same format applicable for Income)



If Debtors turnover is given then we can find out credit sales as
= Debtors x

12 months
3

Incomplete Records

Debtors Turnover Period



In above case we can find out find out Debtors (If credit sale is available)
Debtors = Credit Sale x Debtors Turnover
12 months



If Creditors turnover is given then we can find out Credit Purchase as
= Creditors x 12 months
Creditors turnover

In above case we can find out creditors (If credit purchase is available )
Creditors = Credit purchase x Creditors turnover
12 Months



If Bills Receivable & Debtors A/c given in balance sheet
...
Due to this Prepare both
accounts simultaneously to find out missing figures
...
f
...
Opening Balance

Particulars

₹ Particulars

₹

2
...
Collection from Debtors
4
...




If Bills payable & creditors A/c given in Balance sheet
...
Due to this Prepare both accounts
simultaneously to find out missing figures
...
figure)

xxx

xxx

xxx

Main component of Creditors A/c
1
...
Closing Balance
3
...
Credit Purchases
(One of the above figure may be missing)
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6



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