Professional Documents
Culture Documents
Single Entry Formulas
Single Entry Formulas
Single entry
Formulas:
Withdrawals xx
Additional Investments / Contributions ( xx)
Net Income Pxx
B. For Corporation
Dividends declared xx
Net Income Pxx
Dr(Cr)
Increase in Assets Pxx
Decrease in Assets (xx)
Increase in Liabilities (xx)
Decrease in Liabilities xx
Increase in Net Assets xx
Withdrawals xx
Additional Investments/Contributions (xx)
Net Income Pxx
B. For Corporation
Dr(Cr)
Increase in Assets Pxx
Decrease in Assets (xx)
Increase in Liabilities (xx)
Decrease in Liabilities xx
Increase in Stockholders’ Equity xx
Increase in Contributed Capital (xx)
Decrease in Contributed Capital xx
Increase in Retained Earnings xx
Add: Dividends declared xx
Net Income Pxx
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Formulas:
Cash Sales xx xx
Add: Sales on account:
AR and NR, end xx
Collections of AR /NR xx xx
NR Discounted xx
Write off xx
Sales returns and allowances xx
Sales discounts xx
AR and NR, beginning . . (xx)
Total Sales xx xx
Cash Purchases xx xx
Add: Purchases on account:
AP and NP, end xx
Payments on AP/NP xx xx
Purchase returns and allowances xx
Purchase discounts
AP and NP, beginning . . (xx)
Total Purchases xx xx
Expenses Paid xx xx
Add/(Deduct):
Prepaid expenses, beginning xx
Accrued expenses, end xx
Prepaid expenses, end (xx)
Accrued expenses, beginning . . (xx)
Total Expenses Incurred xx xx
PPE beg xx
Add: Acquisition / Purchase of PPE xx
Total xx
Less: PPE end xx
Sale or Disposal of PPE xx xx
Depreciation expense xx
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