Journal entries

Date

Particulars

LF

Debit Rs.

Credit Rs.

a).

Cash a/c ……………………………Dr.

60,000

To capital a/c

60,000

(Being business started with cash.)

b).

Bank a/c …………………Dr.

50,000

To cash a/c

50,000

(Being cash deposited into bank.)

c).

Purchase a/c ……………….Dr.

10,000

To Bank a/c

3,000

To Ramesh’s a/c

7,000

(Being goods purchased from Ramesh and paid through cheque.)

d).

Cash a/c………………………..Dr.

800

To sales a/c

800

(Being cash sales made.)

e).

Salary a/c ………………………Dr.

4,000

Rent a/c…………………………Dr.

2,000

To cash a/c

6,000

Being paid for salary and rent by cheque.)

f).

Cash a/c…………………………..Dr.

2,500

To commission received a/c

2,500

(Being commission received.)

Journal entries

Date

Particulars

LF

Debit Rs.

Credit Rs.

a).

Furniture a/c ……………………….Dr.

7,000

To Bank a/c

2,000

To Fine Furniture a/c

5,000

(Being office furniture purchased through cheque and paid in part.)

b).

Cash a/c ……………………..Dr.

2,300

Discount a/c…………………..Dr.

200

To Mr. Jatan Joshi’s a/c

2,500

(Being cash received from Mr. Jatan Joshi and allowed discount.)

c).

Purchase a/c……………..Dr.

700

To cash a/c

700

(Being cash purchases made.)

d).

Bank a/c …………………….Dr.

2,500

To rent received a/c

2,500

(Being rent received through cheque.)

e).

Interest a/c………………………Dr.

600

To cash a/c

600

(Being paid for interest.)

Journal Entries

Date

Particulars

LF

Debit Amount (Rs.)

Credit Amount (Rs.)

January 1

Cash a/c…………………..Dr.

55,000

To capital a/c

55,000

(Being Amar started business with cash.)

January 2

Computer a/c……………………Dr.

25,000

To capital a/c

25,000

(Being computer brought into business as an additional capital.)

January 6

Drawing a/c…………………Dr.

2,000

To cash a/c

2,000

(Being cash withdrawn from business for personal use.)

January 7

Drawing a/c………………………..Dr.

500

To Purchase a/c

500

(Being goods withdrawn from business for personal use.)

Journal Entries

Date

Particulars

LF

Debit Amount (Rs.)

Credit Amount (Rs.)

Srawan 1

Purchase a/c……………………Dr.

4,000

To cash a/c

4,000

(Being books purchased for cash.)

Srawan 12

Cash a/c………………….Dr.

3,000

To sales a/c

3,000

(Being books sold for cash.)

Srawan 25

Birbal’s a/c……………….Dr.

10,000

To sales a/c

10,000

(Being books sold to Birbal.)

Srawan 30

Purchase a/c…………………….Dr.

20,000

To Anthony’s a/c

20,000

(Being books purchased from Anthony.)

Journal Entries

Date

Particulars

LF

Debit Amount (Rs.)

Credit Amount (Rs.)

a).

Purchase a/c……………..Dr.

15,000

To Hello Trading Center’s a/c

15,000

(Being goods purchased from Hello Trading Center.)

b).

Bye Bye trading Center’s a/c……….Dr.

6,000

To sales a/c

6,000

(Being goods sold to Bye Bye trading Center.)

c).

Hello Trading Center’s a/c……………Dr.

500

To purchase return a/c

500

(Being goods returned to Hello Trading Center.)

d).

Sales return a/c……………Dr.

300

To Bye Bye Trading Center’s a/c

300

(Being goods returned by Bye Bye Trading Center.)

Journal Entries

Date

Particulars

LF

Debit Amount (Rs.)

Credit Amount (Rs.)

a).

Cash a/c……………..Dr.

700

To commission received a/c

700

(Being commission received from Sujata.)

b).

Salary a/c……………………Dr.

3,500

To cash a/c

3,500

(Being salary paid.)

c).

Telephone charges a/c………………..Dr.

1,200

To bank a/c

1,200

(Being telephone charges paid by cheque.)

d).

Bank a/c……………….Dr.

8,000

To rent received a/c

8,000

(Being received from Active Man)