Railway Accounts Department Examinations

Showing posts with label Closing Entries. Show all posts
Showing posts with label Closing Entries. Show all posts

Monday, April 30, 2018

Closing Entries


Closing Entries
 (Para Nos.230AI to 232AI

At the end of financial year the following transactions in the Indian Railways have been closed to the respective heads.

SN
Transaction
Closed to
1
Revenue transactions (except suspense heads i.e., MAR  & DP)
Net Revenue
2
Capital transactions (except suspense heads i.e., WMS & Stores Suspense)
Capital outlay
3
Debt (Example: Provident Fund)



Balance
4
Remittances (Example: Cheques& Bills)
5
Balance in Transfer Railways (if any) in the Books of Railway Board
6
Revenue suspense head MAR, Capital suspense heads WMS, Stores & MAC and Link Heads a) Demands Payable b) Traffic c) Demands Recoverable d) Labour
7
Balance in Transfer Railways in the books of Zonal Railways
Miscellaneous Government Account
8
All heads (other than Debt & Remittances)
Example: Deposit with Reserve Bank of India