Examples of Accounts in the Nominal Ledger

Accounts which may be present in the general ledger include:

  • plant and machinery at cost (fixed asset)
  • motor vehicles at cost (fixed asset)
  • various provisions for depreciation (liability)
  • proprietor’s/shareholders’ capital (liability)
  • stocks (current asset)
  • total debtors (current asset)
  • total creditors (current liability)
  • wages and salaries (expense)
  • rent and rates (expense)
  • advertising (expense)
  • sales (income)

The type of business determines which accounts will be present.  For example, a consultancy business will not require a raw materials account but a manufacturing company most probably will.


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