Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Accounting > DR + CR > Flashcards

DR + CR Flashcards

1
Q

Discounts Allowed

A

DR Discounts Allowed Expense

CR Trade Receivables

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Discounts Received

A

DR Trade Payables

CR Discounts Received Income

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Selling goods for cash

A

DR Cash

CR Sales

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Selling goods for credir

A

DR trade receivables

CR sales

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Credit customer pays

A

DR cash

CR trade receivables

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

buying goods for cash

A

DR purchases

CR cash

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

buying goods for credit

A

DR purchases

CR trade payables

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Payment for credit purchases

A

DR trade payables

CR cash

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Receiving discount

A

DR trade payables

CR discounts recieved

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

allowing discount

A

DR discounts allowed

CR trade receivables

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Buying Machine in cash

A

DR plant property and equipment (PP&E)

CR cash

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

buying machine on credit

A

DR plant property and equipment (PP&E)

CR Payables

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Investing own money

A

DR cash

CRccapital

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Taking money out

A

DR drawings

CR cash

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Borrowing money

A

DR cash

CR loan

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Payback loan

A

DR loan

CR cash

17
Q

Paying Interest

A

DR Interest expense

CR cash

18
Q

Pay expenses

A

DR expense

CR cash

19
Q

Paying wages

A

DR wage expense

CR cash

20
Q

Receiving Rent Bill

A

DR rent expense

CR payables

21
Q

Settlement discounts

A

DR discounts allowed expense

CR trade recievables

22
Q

discounts received

A

DR trade payables

CR discounts received income

23
Q

petty cash receipt

A

DR petty cash

CR bank

24
Q

expenses from petty cash

A

DR expenses

CR petty cash

25
Q

Discounts allowed

A

DR discounts allowed expense

CR trade receivables

26
Q

Discounts received

A

DR Trade payables

CR discounts received

27
Q

sales return

A

DR sales return

CR trade receivables

28
Q

purchase returns

A

DR trade payables

CR purchase returns

29
Q

contra

A

DR trade payables

CR trade receivables

30
Q

Irrecoverable debts

A

DR irrecoverable debt expense

CR trade receivables

31
Q

Refund to customers

A

DR trade receivables

CR cash

32
Q

refund from suppliers

A

DR cash

CR trade payables

33
Q

Dishonoured cheques

A

DR trade receivables

CR cash

34
Q

Purchases

A

DR purchases expenses

CR trade payables/cash

35
Q

closing inventories

A

DR inventories

CR cost of sales expenses

36
Q

opening inventories

A

DR cost of sales expense

CR inventories account

37
Q

Irrecoverable debts

A

DR irrecoverable debt expense

CR trade recievables

38
Q

Irrecoverable debts paid

A

DR cash

CR irrecoverable debt expense

39
Q

Doubtful receivables

A

DR irrecoverable debt expense

CR allowance for receivables

Accounting (17 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions