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Microlesson · 5-min read

AS 3 – Working Notes: T-Account Method for Debtors, Creditors and Other Accounts

## T-Account Working Notes: Deriving Cash Flows

### When to Use

Use T-accounts when the problem provides opening/closing balances and total accrual-basis figures (total sales, total purchases) but does not directly state the cash received or cash paid.

---

### Trade Receivables (Debtors) – Finding Cash Received

```

Trade Receivables A/c

Dr Cr

──────────────────────────────────────────

Opening balance XX | Cash received ?? ← Balancing figure

Credit Sales XX | Closing balance XX

──────────────────────────────────────────

XX | XX

```

Formula: Cash received from debtors = Opening bal + Credit sales − Closing bal

> Note: Cash sales bypass debtors entirely — they are already a direct cash inflow.

---

### Trade Payables (Creditors) – Finding Cash Paid

```

Trade Payables A/c

Dr Cr

─────────────────────────────────────────────

Cash paid ?? ← B/f | Opening balance XX

Closing balance XX | Credit Purchases XX

─────────────────────────────────────────────

XX | XX

```

Formula: Cash paid to creditors = Opening bal + Credit purchases − Closing bal

---

### PPE Account – Finding Cash Paid for PPE

```

PPE A/c

Dr Cr

───────────────────────────────────────────

Opening balance XX | Sale proceeds XX

Cash purchases ?? | Depreciation XX

| Closing balance XX

───────────────────────────────────────────

```

Formula: Cash paid for PPE = Closing bal + Depreciation + Sale book value − Opening bal

---

### Loan Account – Finding Repayment

```

Bank Loan A/c

Dr Cr

───────────────────────────────────────────

Cash repaid ?? ← B/f | Opening balance XX

Closing balance XX | New loan raised XX

───────────────────────────────────────────

```

Formula: Cash repaid = Opening bal + New borrowings − Closing bal

---

### General Rule for Any T-Account

> Balancing figure on the Dr side = Cash paid (outflow)

> Balancing figure on the Cr side = Cash received (inflow)

All other non-cash entries (depreciation, discount, bad debts) must also be entered on the correct side before balancing.

Worked example

### Example 1

Illustration 11 Working Notes (₹ crores)

Given: Total Sales = ₹135 cr (all credit); Opening Debtors = ₹45 cr; Closing Debtors = ₹50 cr

Trade Receivables T-Account:

```

Dr Cr

────────────────────────────────────────────────────

Opening Balance 45 | Cash received 49 ← (B/f)

Credit Sales 54 | Closing Balance 50

────────────────────────────────────────────────────

99 | 99

```

Cash received from debtors = 45 + 54 − 50 = ₹49 crores

---

Given: Total Purchases = ₹55 cr (credit); Opening Creditors = ₹21 cr; Closing Creditors = ₹23 cr

Trade Payables T-Account:

```

Dr Cr

────────────────────────────────────────────────────

Cash paid 42 ← (B/f) | Opening Balance 21

Closing Balance 23 | Credit Purchases 44

────────────────────────────────────────────────────

65 | 65

```

Cash paid to creditors = 21 + 44 − 23 = ₹42 crores

### Example 2

Illustration 11 – Debenture Redemption Working (₹ crores)

Given: Debentures redeemed at premium; premium = ₹22 cr; new share issue proceeds = ₹150 cr

Logic:

  • Debenture redemption = face value redeemed + premium paid = total cash outflow in CFF
  • Premium on redemption is NOT added to the debenture T-account (it is an additional cash outflow)
  • New share issue at cash = ₹150 cr → CFF inflow

New Plant Purchase Working:

When old plant is exchanged (part-exchange) for new plant:

```

Cash paid for new plant = Purchase price of new plant

− Exchange value of old plant

```

The exchange value of old plant = its book value at date of exchange (if no gain/loss given).

### Example 3

Share Capital T-Account (ESC)

```

Equity Share Capital A/c

Dr Cr

─────────────────────────────────────────────

Balance c/d 500 | Opening balance 200

| Cash – Fresh issue 300 ← (B/f)

─────────────────────────────────────────────

500 | 500

```

Cash received from share issue = 500 − 200 = ₹300

Loan T-Account:

```

Loan A/c

Dr Cr

───────────────────────────────────────

Cash repaid 250 ← (B/f) | Opening 250

Balance c/d 0 |

───────────────────────────────────────

250 | 250

```

Cash repaid = ₹250 (loan fully repaid)

⚠️ Common exam mistakes

  • Placing credit sales on the wrong side of the debtors account — credit sales INCREASE the debtor balance and go on the Dr side
  • Including cash sales in the debtors T-account — cash sales bypass debtors and are already a direct cash inflow; putting them in the T-account double-counts them
  • Using total purchases (including cash purchases) in the creditors T-account — only credit purchases flow through creditors; cash purchases are a direct cash outflow
  • Forgetting to include non-cash credits in T-accounts (e.g., discounts allowed, bad debts written off on the Cr side of debtors) — these must appear before balancing, otherwise the cash figure is overstated
  • Treating the exchange value of old plant as a cash inflow separately from the new plant purchase — it is a deduction from the purchase cost, not a standalone cash receipt
Reference:
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