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Manufacturing Accounts Formate

Chapter 7 outlines the final accounts of manufacturing concerns, detailing the structure of manufacturing, trading, profit and loss, capital accounts, and balance sheets. It includes various components such as opening and closing stocks, sales, expenses, and profits or losses. The chapter provides a comprehensive framework for understanding the financial statements relevant to manufacturing businesses.

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19 views3 pages

Manufacturing Accounts Formate

Chapter 7 outlines the final accounts of manufacturing concerns, detailing the structure of manufacturing, trading, profit and loss, capital accounts, and balance sheets. It includes various components such as opening and closing stocks, sales, expenses, and profits or losses. The chapter provides a comprehensive framework for understanding the financial statements relevant to manufacturing businesses.

Uploaded by

rbk8573
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Chapter 7

FINAL ACCOUNTS OF MANUFACTURING CONCERNS

In the Books of…


Dr. Manufacturing Account for the year ended 31st March… Cr.
Particulars Amount Amount Particulars Amount Amount
To Opening Stock of Work- Xx By Closing Stock of Xx
in-process Work-in-process
To Raw material By Sale of scrap Xx
consumed :
To Opening stock Xx
Add : Purchase Xx
Add : Purchase Expenses
- Carriage inward Xx By Trading Account Xx
- Fright on materials ( Cost of Production )
- Octroi duty
- Import duty
- Custom duty
- Dock Charges
Less : Purchase Return Xx
( Return outward )
Less : Closing Sock of Xx Xx
Raw material
To Wages Xx
To Manufacturing wages Xx
To Direct/Indirect wages Xx
To salary to supervisor Xx
To Direct expenses Xx
To Factory rent/insurance Xx
To Power, lighting, oil, Xx
grease, water, fuel etc.
To Motive power Xx
To Royalty related to Xx
manufacture
To Hire of special Xx
machinery
To Deseing expenses Xx
To Repairs to factory assets Xx
To Depreciation on factory Xx
assets
Total Xxx Total Xxx
Dr. Trading Account for the year ended 31st March… Cr.
Particulars Amount Amount Particulars Amount Amount
To Opening Stock of Xx By Sales Xx
Finished goods
TO Manufacturing Xx Less : Sales Return xx Xx
Account ( Return Inward )
( Cost of Production )
By taken by proprietor for Xx
Personal use
By Goods Distributed as Xx
free sample
By Goods Destroyed by Xx
Fire / Theft
By Closing Stock of Xx
Finished goods

To Gross Profit c/d Xxx By Gross Loss c/d Xxx

Total Xxx Total Xxx

Dr. Profit and Loss Account for the year ended 31st March… Cr.
Particulars Amount Amount Particulars Amount Amount
To Gross Loss b/d Xx By Gross Profit b/d Xx
To Salaries & Wages Xx
To Carriage outward Xx By Commission Received Xx
To Export duty Xx By Interest Received Xx
To Office Salaries Xx By Discount Received Xx
To Office rent Xx By Rent Received Xx
To Printing & stationery Xx By Dividend on share Xx
To Postage & telephone Xx By Interest on Investment Xx
To Advertisement Xx
To Bad debts Xx
Add : New Bad debts xx
Add : New R.D.D. Xx
Less : Old R.D.D. Xx Xxx
To Commission allowed Xx
To Discount allowed Xx
To Audit Fees Xx
To Electricity Charges Xx
To Office Expenses Xx
To Sundry Expense Xx
To Telephone charges Xx
To Legal Charges Xx
To Bank charges Xx
To Warehouse rent Xx
To Rent, Rates, and Taxes Xx
To Packing Charges Xx
To Insurance Xx
To Travelling & Xx
conveyance
To Depreciation on Office Xx
Furniture

To Net Profit c/d Xx By Net Loss c/d Xx

Total Xxx Total Xxx

Dr. Capital Account Cr.


Particulars Amount Particulars Amount
To Net Loss b/d Xx By Net Profit b/d Xx
To Drawings Xx By Balance b/d ( Capital ) Xx
To Interest on Drawings Xx By Interest on Capital Xx

To Balance c/d Xx

To Total Xxx Xx

Balance Sheet as on 31st March…


Liabilities Amount Amount Assets Amount Amount
Capital Account Fixed Assets :-
Add : Net Profit Land and Building Xx
Add : Interest on Capital Plant and Machinery Xx
Less : Drawing Furniture and Fixtures Xx
Less : Net Loss Xx Freehold Property Xx
Leasehold Property Xx
Reserve & Surplus Vehicles, Motor car Xx
General Reserve Xx Intangible Assets
Reserve Fund Xx Goodwill , Patents Xx
Provident Fund Xx Trade Marks Xx
Bank Loan Xx Copy Right Xx
Current Liabilities Current Assets
Creditors Xx Cash / Bank Balance Xx
Bill Payable Xx Investment Xx
Bank Overdraft Xx Debtors Xx
Bill Receive Xx
Outstanding Expenses / Xx Pre-paid Expenses / Xx
Unpaid Expenses Advance Expenses
Pre-receive Income / Xx Outstanding Income / Xx
Advance Income Unpaid Income
Closing Stock of Xx
- Raw Materials
- Work-in-Progress
- Finished Goods
Insurance Claim Xx
Receivable

Total Xxx Total Xxx

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