Transactions involving nominal accounts resulting in accrual of incomes to profit/loss account

Transactions involving nominal accounts which ultimately result in accrual of income to the profit and loss account are transactions relating to incomes and gains.

Incomes

In most transactions of this kind, the second account affected i.e. the account other than the nominal account, would be a current natured account.

Received commission

Dr. Cash/Bank a/c
Cr. Expenditure a/c
Current Asset
Non-Current

Sold goods on credit

Dr. Debtors a/c
Cr. Sales a/c
Current Asset
Non-Current

All transactions relating to incomes can be considered to be cross transactions in general.

Gains

In most transactions of this kind, the second account affected i.e. the account other than the nominal account, would be a non-current natured account.

Profit on Sale of Asset

Dr. Asset a/c
Cr. Profit on Sale of Asset a/c
Non-Current Asset
Non-Current

All transactions relating to losses can be considered to be non-cross transactions in general.
n~11 t~3 «Note~11_Topic~3 » n~11 t~4