Administration Manual - B.E.S.T. Undertaking.

scrap A/c is debited and credit is given to the Scrap yard
Store Stock A/c. Since Bill Receivable A/c is required to be
allocated for receipt of amount against the scrap material
Bills Receivable A/c is credited and debit is given to
Outward Bill Deposit A/c.
xix) Unclaimed/unadjusted interest on S.D. of the
consumers:
It is necessary to transfer unclaimed/unadjusted
interest on S.D. amount by debiting to the Debtors A/c and
crediting to the other receipts A/c.
150
xx) Accrued interest on Consumers Deposits:
It is necessary to provide accrued interest on Consumers Deposit by debiting
to the interest on Consumers Deposit A/c which is a Revenue Expenditure activity
and crediting to consumers deposit Interest A/c.
xxi) Unconsumed Materials at STPP:
It is necessary to pass JE for unconsumed material at STPP i.e. Supdt.Ticket &
Printing Press by giving necessary credit to the ticket printing Estb. A/c and debiting
to Stock A./c.
The all above referred entries are pertaining to Revenue income & expenditure
activity and from this we will be able to find out the surplus and deficit position of
respective division i.e. Supply Division & Bus Division.
4.4. Balance Sheet A/c.
It is also necessary to pass various closing entries for balancing A/c mainly in
the following Account Heads.
A/c Code Description
192 Sale Proceeds & Credits for Scrapped Assets
551 Capital Work in Progress
591 Stores Stock
616 Outstanding Cash Collection with Departments