Accounts from Incomplete Records

cash purchases, debtors, cash sales, other cash payments and such receipts are easily available, but there are a number of items the details of which will have to be ascertained in an indirect manner by using the logic of double entry. The most common items that are missing and have to be worked out as Payments to debtors Any other cash/bank related items. You know that opening capital can be worked out by preparing the statement of affairs at the beginning of the year. For other items we have explained as to how available information can be used to ascertain their missing figures with the help of total debtors and total creditors, total bills receivable and total bills payable accounts and summary of cash.

. . Ascertaining Credit Purchases The credit purchases figure is not usually available from the incomplete records. It is quite possible that some other information related to creditors may also be missing.

Therefore, by preparing the total creditors account, a proforma of