summarised below : . Closing assets (except stock) and Closing list liabilities . Opening assets (including opening Opening list stock) and liabilities . Purchases Credit purchases from total creditors account and cash purchases from summary of cash .
Sales Credit sales from total debtors account and cash sales from summary of cash . Opening capital Opening statement of affairs . Expenses and Revenues As per cash summary of cash plus subsidiary informatioon . Losses and Gains From all the accounts and scattered information .
Bills receivable received Total bills receivable account . Bills payable accepted Total bills payable account . Cash/Bank balance Summary of cash Fig. .
: Detecting the missing information Illustration Compute the amount of total purchases and total sales of Mr. Amit from the following information for the year ending on March , . Total debtors as on April , Total creditors as on April , Bills receivable as on April , Bills payable as on April , , Bad debts , Return inwards , Cash sales Cash purchases Total debtors as on March , Cash received from debtors , , Cash paid to creditors Cash received against bills receivable Payment made against bills receivable Total creditors as on March , Bills payable as on March , Bills receivable as on March , , Solution Total Bills Receivable Account Total debtors , , , Total Bills Payable Account , Total creditors , , , Total Debtors Account Bad debts , Sales , , Return inwards , , , (Transfer from bills receivable account) , , , , Total Creditors Account Date Purchases (credit) , , Bills payable (transfer , from bills payable account) , , , , Working Notes (i) Credit purchases have been computed from total creditors account as Rs. , , .
Cash purchases given are Rs. , . Total purchases will be Rs. , , + Rs.
, = Rs. , , . (ii) Credit sales have been computed from total debtors account as Rs. , , and cash sales are given as Rs.
, . Total sales will be Rs. , , + Rs. , = Rs.