Accounting Fundamentals: Journal, Ledger, Trial Balance, Bills & Notes
Classified in Mathematics
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Journal Entries: Recording Business Transactions
Format of Journal Entries
| Date | Particulars | Debit (₹) | Credit (₹) |
|---|---|---|---|
| YYYY-MM-DD | Debit Account (Dr) | Amount | |
| To Credit Account (Cr) | Amount | ||
| (Brief description/Narration) |
Examples of Journal Entries
Started Business with Cash ₹1,00,000
- Cash A/c Dr ₹1,00,000
To Capital A/c ₹1,00,000 - (Being business started with cash)
- Cash A/c Dr ₹1,00,000
Purchased Goods for Cash ₹20,000
- Purchases A/c Dr ₹20,000
To Cash A/c ₹20,000 - (Being goods purchased for cash)
- Purchases A/c Dr ₹20,000
Sold Goods to Priya for ₹10,000 on Credit
- Priya A/c Dr ₹10,000
To Sales A/c ₹10,000 - (Being goods sold to Priya on credit)
- Priya A/c Dr ₹10,000
Paid Rent ₹5,000
- Rent A/c Dr ₹5,000
To Cash A/c ₹5,000 - (Being rent paid in cash)
- Rent A/c Dr ₹5,000
Ledger Posting: Classifying Transactions
Format of Ledger Accounts
| Particulars | J.F. |
|---|