Non-Current Asset Formats: Non-Current Asset Ledger Account Format (Copy)
Non-Current Asset Ledger Account Format
Standard Non-Current Asset Account (T-Account) Layout
Non-Current Asset Account (e.g. Motor Vehicles / Equipment / Machinery)
| Debit (Dr) | Amount | Credit (Cr) | Amount |
|---|---|---|---|
| Date | Cost Brought Down | xxxx | Date |
| Date | Additions | xxxx | |
- Account Name Written Clearly At The Top
- Cost Of Asset Recorded On Debit Side
- Disposal Recorded On Credit Side
- Balance c/d Represents Closing Cost
Written And Compiled By Sir Hunain Zia (AYLOTI), World Record Holder With 154 Total A Grades, 7 Distinctions And 11 World Records For Educate A Change AS Level Accounting Full Scale Course
Non-Current Asset Account Without Date Column (Accepted)
Non-Current Asset Account
| Debit (Dr) | Amount | Credit (Cr) | Amount |
|---|---|---|---|
| Cost | xxxx | Disposal | xxxx |
| Additions | xxxx | Balance c/d | xxxx |
| Balance b/d | xxxx |
- Used When Dates Are Not Provided
- Clear Description Of Entries Required
Non-Current Asset Account With Revaluation Entry
Non-Current Asset Account
| Debit (Dr) | Amount | Credit (Cr) | Amount |
|---|---|---|---|
| Cost | xxxx | Revaluation Decrease | xxxx |
| Revaluation Increase | xxxx | Disposal | xxxx |
| Additions | xxxx | Balance c/d | xxxx |
| Balance b/d | xxxx |
- Revaluation Increase Debited
- Revaluation Decrease Credited
- Balance Represents Revalued Cost
Written And Compiled By Sir Hunain Zia (AYLOTI), World Record Holder With 154 Total A Grades, 7 Distinctions And 11 World Records For Educate A Change AS Level Accounting Full Scale Course
Non-Current Asset Account With Disposal Only (Partial Year)
Non-Current Asset Account
| Debit (Dr) | Amount | Credit (Cr) | Amount |
|---|---|---|---|
| Balance b/d | xxxx | Disposal | xxxx |
| Additions | xxxx | Balance c/d | xxxx |
| Balance b/d | xxxx |
- Disposal Shown At Original Cost
- Remaining Balance Carried Forward
Presentation Rules For Non-Current Asset Ledger Accounts (Exam Scoring)
- Cost Always Recorded, Not Book Value
- Depreciation Never Recorded In Asset Account
- Separate Provision For Depreciation Account Used
- Balance c/d Must Be Shown
Written And Compiled By Sir Hunain Zia (AYLOTI), World Record Holder With 154 Total A Grades, 7 Distinctions And 11 World Records For Educate A Change AS Level Accounting Full Scale Course
Common Labels Used In Non-Current Asset Accounts
- Balance b/d
- Additions
- Disposal
- Revaluation
- Balance c/d
Compact Non-Current Asset Ledger Format (Short Questions)
Non-Current Asset Account
| Dr | Cr |
|---|---|
| Cost xxxx | Disposal xxxx |
| Additions xxxx | Balance c/d xxxx |
| Balance b/d xxxx |
One-Glance Emergency Exam Template
Non-Current Asset Account
Debit: Cost, Additions
Credit: Disposal
Balance c/d = Closing Cost
Written And Compiled By Sir Hunain Zia (AYLOTI), World Record Holder With 154 Total A Grades, 7 Distinctions And 11 World Records For Educate A Change AS Level Accounting Full Scale Course