100 Journal Entries

100 Journal entries

Sl . no

Transaction

Journal entry

Group

Sub group

Dr. Amt.

Cr. Amt

Cash

100000

100000

Capital Related entries 1

2

3 4

5

6

7

Partnership company Mr. A introduce capital Rs. 100000/-

Cash-Dr To A’S capital

Current Assets Capital

Proprtiorship company Introduce Capital for Business Rs. 50000/-

Cash –Dr To Capital


Cash

50000

50000

For Company Issued 100000 equity share @ Rs. 10/- each and the said amount deposited to SBI bank Application money Received for 20000/- shares @ Rs. 5/- each and the said amount deposited to SBI Interest charges on Capital @ 5% for Mr. A Dividend 4% declared by the company on the face value of the share @ Rs. 10/- each for 100000 equity shares Call money received for 20000 shares @ Rs. 5/- per share and the said amount deposited to SBI Dividend paid to share holders from SBI bank

SBI bank-Dr To Equity share capital


Bank

1000000

100000 0

SBI Bank- Dr To share Application money


Bank

100000

100000

Interest on capital –Dr To Capital Dividend –Dr To Dividend equalization reserve

Indirect Exp Capital Indirect Exp Capital

5000

5000

400000

400000

SBI –Dr To Call money

Current assets Capital

Bank

100000

10000

Capital

Reserve & Surplus Bank

400000

400000

100000 100000

200000

20000 equity shares issued to shares holders

Dividend equalization reserve-Dr To SBI

Current Assets

Share application money- Dr Call money – Dr To equity share Capital

Capital Capital Capital

Reserve & surplus

Cash & Bank Related entries 8

Open a current account in UBI by depositing Cash Rs. 50000/-

UBI-Dr To Cash

Current Assets Current Assets

Bank Cash

50000

50000

9

Amount transfer Rs. 20000/from SBI to UBI Bank a/c Cash with drawl from SBI Bank Rs. 10000/- for official use Cash Transfer to Petty cash account Rs. 2000

UBI –Dr To SBI Cash – Dr To SBI Petty Cash- Dr To Cash

Current Current Current Current Current Current

Assets assets Assets Assets Assets assets

Bank Bank Bank Cash Cash Cash

20000

20000

10000

10000

2000

2000

Cash deposited to SBI bank Rs. 5000

SBI- Dr To cash

Current assets Current assets

Bank Cash

5000

5000

For Interior of office he paid Rs. 35000/- to carpenter towards coast of material & labour charges Purchase office furniture of Rs. 10000/By paying cash Purchase computer for office Rs. 25000/- by paying from SBI

Furniture & Fixture- Dr To cash

Fixed assets Current Assets

35000

35000

Cash

Furniture & Fixture-Dr To cash


10000

10000

Cash

Computer & assoceries -Dr To SBI

Fixed assets Current assets

25000

25000

Bank

Purchase a new car Rs 250000/from SBI Land Purchase worth Rs. 100000 and registration charges Rs. 5000 paid there on from SBI Bank Take new patent right for a product by paying from SBI worth Rs. 20000/Purchase one HP DeskJet Printer from HP associates worth Rs. 5000/Purchase a Xerox machine worth

Motor Car- Dr To SBI Land-Dr To SBI

Fixed Assets Current Assets Fixed Assets Current assets

250000

250000

105000

105000

Patent-Dr To SBI


20000

20000

Bank

Computer & Assoceries- Dr To HP associates

Fixed assets Current Lib.

5000

5000

S/creditors 75000

75000

10 11

12

Fixed Assets 13

14

15

16 17

18

19

20

Office equipment-Dr

Fixed assets

Bank Bank

21

22

23

24

Rs. 75000/- from Modi Xerox and issued them cheque immediately from SBI Windows software purchase from Microsoft by paying a cheque of Rs. 3500/- from SBI For expansion of building Rs. 150000 paid to contractors from SBI bank Purchase a new machinery worth Rs. 25000 and installation charge Rs. 1000/- has been paid from SBI bank Purchase mobile for office Use worth Rs. 15000 from SBI bank

To SBI

Current assets

Bank

Computer & assoceries- Dr To SBI

Fixed assets Current assets

Bank

Building To SBI


Bank

Dr

Machinery-Dr Installation charges –Dr To SBI

Fixed assets Fixed assets Current assets

Bank

Office Equipment- Dr To SBI

Fixed Assets Current assets

Bank

Postage & courier charges paid Rs. 250/- from Petty cash

Postage & courier- Dr To Petty cash

Indirect Exp. Current Assets

Cash

Rent paid for office Rs. 20000/from cash

Office Rent-Dr To cash

Indirect exp Current Assets

Cash

Car hire charges paid for visit of client Rs. 1000/- for Sales manger

Traveling Exp-Dr To cash

Indirect Exp Current Assets

Cash

Local Conveyance paid to employee Rs. 150/- from petty cash

Conveyance –Dr To Petty Cash

Indirect exp Current Assets

Cash

Internet charges Rs. 500 paid from cash to Air Tel Paid Rs. 2500/- for Repair work of electrical equipments from cash Rs. 500 paid form petty cash for purchase of daily use material (phynial, soap, duster etc)

Internet Charges-Dr To cash Repair & Maintenance-Dr To cash

Indirect Current Indirect Current

General charges –Dr To Petty cash

Indirect. Exp Current assets

3500

3500

150000

150000

25000 1000 26000 15000

15000

250

250

20000

20000

1000

1000

150

150

500

500

2500

2500

500

500

Expense Related Entry 25

26

27

28

29 30

31

exp Assets exp. Assets

Cash Cash

Cash

32 33 34

35 36

37

38 39

40

41 42 43

44 45

46 47

Bank debited bank charges as per SBI statement Rs. 300/Municipal tax paid Rs. 2500 from cash Donation paid to Charitable organization Rs. 500 /- from cash Wages paid to factory worker Rs. 4000/- from cash Repairing charges for Car Paid Rs. 2500/- from SBI bank

Bank charges –Dr To SBI Municipal Tax-Dr To Cash Donation-Dr To Cash

Indirect Current Indirect Current Indirect Current

Exp Assets Exp Assets Exp Assets

Wages A/c-Dr To Cash Repairing charges-Dr To SBI

Direct Exp Current Assets Indirect exp Current Assets

Royalty paid for production of Royalty-Dr new material Rs. 25000 from SBI To SBI bank Commission paid on sales Rs. Commission –Dr 4000 from cash To Cash Bonus paid to employee Rs. 5000 Bonus –Dr from SBI bank To SBI

Direct Exp Current assets

Leave salary paid Rs. 5000 from cash

Leave salary-Dr To Cash

Indirect exp Current assets

Xerox charges paid Rs. 50 from petty cash Lunch coupon provided to employee Rs. 600 from cash Training cost paid to instructor Rs. 2000/- from cash

Printing & Stationery –Dr To Cash Staff welfare-Dr To Cash Training Cost-Dr To Cash

Indirect Current Indirect Current Indirect Current

exp assets Exp assets Exp assets

Hotel rent paid for employee Rs. 2000/- from cash for official tour Traveling Exp. reimburse to employee Rs. 1000/- from cash for official tour Telephone charges paid Rs. 2000/- from cash Incentive paid to sales manager Rs. 2000/- from cash

Tour Expense – Dr To Cash Traveling Exp-Dr To Cash


Exp assets Exp Assets

Telephone charges –Dr To Cash Incentive & Prizes- Dr To cash


exp assets exp Assets


exp Assets exp. Assets

300

300

2500

2500

500

500

4000

4000

2500

2500

25000

25000

4000

4000

5000

5000

5000

5000

50

50

600

600

2000

2000

2000

2000

1000

1000

2000

2000

2000

2000

Bank Cash Cash

Cash Bank

Bank

Cash Bank

Cash

cash Cash Cash

Cash Cash

Cash Cash

48

49

50 51 52

53 54

55

56 57

58

59

60

News paper & journals – Dr To Petty cash


Cash

Legal charges- Dr To cash


Cash

Telephone charges – Dr To Cash Postage & Courrier –Dr To cash Salary- Dr To PF To P.tax ToTDS To Cash

Indirect Current Indirect Current Indirect Current Current Current Current

exp Assets exp assets exp Lib lib Lib assets

Electricity charges Paid Rs. 2000/- from cash Rs. 3000 paid to painter for coloring of office premises from cah Rs. 300 paid for Refilling of Ink Cartridge of printer from cash

Electricity- Dr To cash Repair & maintenance –Dr To cash


exp assets Exp. Assets

Cash

Printing & Stationery –Dr To Cash

Indirect Exp Current assets

Cash

Bank charges Rs. 200 against a dishonor of cheque Rs. 4000 has been paid for installation of Glow sign board from cash Rs. 200 spent for purchase of carbon papers, ribbons, pens, ink etc from petty cash Rs. 2000/- paid to municipal staff for putting banners on the road as bribe from cash Rs. 200 paid as installation of banners from cash

Bank charges –Dr To SBI Advertisement –Dr To cash


Printing & Stationery- Dr To Petty Cash


Cash

General charges –Dr To Cash

Indirect Exp Current assets

Cash

Advertisement-Dr To Cash


Cash

Rs. 250/- paid for purchase of news paper & journals from Petty cash Legal charges paid to advocate for Income Tax matter Rs. 3000/from cash Mobile bill for directors paid Rs. 2000/- from cash Courier charges Paid Rs. 400 from cash Salary paid to staff Rs. 15000/after deduction of PF Rs. 600/- & P.tax Rs. 200/- & Tds Rs. 1000/from cash

Investment

Expense assets exp assets

250

250

3000

3000

2000

2000

400

400

Cash Cash 15000 600 200 1000 13200

Cash 2000

2000

3000

3000

300

300

200

200

4000

4000

200

200

2000

2000

200

200

Cash

Bank Cash

61 62 63 64

65

Bought mutual fund Rs. 20000/from Sbi bank NSC purchase worth Rs. 5000/from cash Purchase Rel. Industries shares worth Rs. 30000/- from SBI bank Rel. Industries shares sold at Rs 35000/- and the said amount deposited into bank Interest accrued on NSC Rs. 500/for this year

Investment A/c- Dr To SBI NSC-Dr To Cash Investment –Dr To SBI SBI-Dr To Investment To Profit on sale of Investment Accrued Interest-Dr To Interest on NSC

Investment Current Assets Investment Current Assets Investment Current Assets Current Assets Investment Indirect Income Investment Indirect Income

20000

20000

5000

5000

30000

30000

Bank Cash Bank Bank

350000

500

30000 5000 500

Income / Receivable entries 66

Commission Received from the party Rs. 4000 in cash

Cash-Dr To Commission

Current Assets Indirect Income

Cash

4000

4000

67

Interest Credited by SBI bank as per statement Rs. 300 Rent received Rs. 5000/- by UTI cheque from mr Rajan and the said amount deposited to SBI Rent charge to Mr. Pranab Rs. 15000 towards 3months rent Miscellaneous Income received Rs. 500 in cash

SBI bank-Dr To Interest SBI-Dr To rent

Current Indirect Current Indirect

assets income assets Income

Bank

300

300

Bank

5000

5000

Rent Receivable from Pranab –Dr To rent Cash –Dr To Miscellaneous Income

Current Indirect Current Indirect

assets Income assets Income

15000

15000

Cash

500

500

Current Current Indirect Current

assets assets exp assets

Advances Cash

5000

5000

Current Current Indirect Current Current

assets assets exp assets assets

68

69 70 71

Loans, Advances & Deposit Entries & their Set off 72 73

74 75

Tour Advance paid to Mr. Hari Rs. 5000 from cash Mr. Hari submitted the expense 4500 / and rest of the amount returned back by cash to cashier Advance salary paid to staff Rs. 5000/- from SBI bank Salary paid to Staff Rs. 15000/after adjustment of Advance from SBI Bank

Tour advance –Dr To cash Tour expense –Dr Cash –Dr To Tour advance Advance salary – Dr To SBI Salary –Dr To Advance salary To SBI

Cash

4500 500 5000

Advances Bank

5000 5000 15000

Advances Bank

5000 10000

76

77

78 79

80

81 82

Telephone Deposit paid Rs. 5000/- to MTNL for connection of New phone from SBI bank Advance Rent of Rs. 50000/- for Office , 6 months paid to land lord from SBI Loan given to sister concern Rs. 100000/- from SBI bank Interest charge on the above loan is Rs. 5000/-

MTNL deposit –Dr To SBI


Deposit

Advance Rent –Dr To SBI


Advances Bank

50000

50000

Loans to Sister concern- Dr To SBI Interest receivable-Dr To Interest

Current Current Current Indirect

Loans Bank Loans

100000

100000

5000

5000

Rs. 10000/- has been received from sister concern against repayment of loan in cash Advance Tax Paid for this year Rs. 10000/- from SBI Rs. 50000/- paid from SBI towards security Deposit money of New office

Cash-Dr To Loan from Sister Concern


Cash Loans

10000

10000

Advance Tax-Dr To SBI Rental Deposit-Dr To SBI

Current Current Current Current

assets assets assets assets

Advance Bank Deposit Bank

10000

10000

50000

50000

Labour charges –Dr To TDS Payable Top SBI TDS payable –Dr To SBI

Direct Expense Current Lib Current assets Current Lib Current assets

Payable Bank Payable Bank

SBI –Dr TDS Receivable –Dr To Advertisement contract

Current assets Current assets Indirect income

Professional charges –Dr To TDS payable To Cash

Indirect exp Current Lib Current assets

Payable Cash

Current Assets

Bank

assets assets assets Income

5000 5000

TDS- Payable/Receivable & their Set of 83

84

85

86

Labour charges paid to contractor Rs. 6000 after deduction of TDS 1% from SBI Tds deducted on labour charges has been paid through TDS challan to Income tax departments from SBI bank Advertisement Contract Rs. 30000/- received from a party after deduction of TDS 1% there on and the said amount deposited to SBI Professional charges paid to auditors Rs. 5000/- and Tds deducted there on Rs. 250/- from cash

6000

Bank Deposit

60

60 5940 60

29700 300 30000

5000 250 4750

Current Liabilities/Provision /Expense payable/Loans 87

Loan taken from parties Rs.

SBI-Dr

10000

1000

88 89 90 91

10000/- and the same has been deposited to SBI bank Interest charge on the loan Rs. 1000 Audit fees charge this year by auditor Rs 5000/Salary for march payable this year Rs. 25000/- for march Provision for bad debt done this year Rs. 10000/-

To Short term loan

Current Lib

Interest on loan –Dr To Interest payable Audit fees – Dr To Audit Fees payable Salary-Dr To salary payable Bad debt- Dr To Provision for doubtful debts

Indirect Current Indirect Current Indirect Current Indirect Current

Exp . Lib exp Lib exp lib Exp Lib

Exp. payable 1000

1000

5000

5000

25000

25000

10000

10000

Exp. Payable Exp. Payable Exp Payable Provision

Purchase/ Sales & Taxes , their Set off 92

93

94 95 96

97

98

Purchase goods worth Rs. 10000/- , and tax charge there on Vat RS. 400 and excise duty Rs. 1600 from Mr. Asif Goods returned to Mr. Asif Rs. 5000/-

Goods Purchase on cash RS. 2000/Goods sold on Cash RS. 20000/Goods sold to Ram Rs. 20000/and VAT charge 800/- and excise duty RS. 3200/Goods returned to Ram RS. 10000/- , Vat 400, Excise 1600 there on Amount received from Ram Rs.

Purchase –Dr Input VAT-Dr Excise-Dr To Mr Asif Mr. Asif – Dr To Purchase return To excise To Input Vat Purchase – Dr To Cash Cash-Dr To sales Ram -Dr To Excise To out put Vat To sales Sales Return-Dr Excise-Dr Output Vat-Dr To Ram Cash –Dr

Direct exp Current assets Current assets Current Lib Current lib Direct expense Current assets Current assets Direct expense Current assets Current assets Direct income Current assets Current Lib Current lib Direct Income Direct income Current Lib Current Lib Current assets Current assets

Purchase Deposit Deposit S/ creditors S/creditors Deposit Deposit Purchase Cash Cash Sales S/debtors Exp. Payable Exp. Payable Sales Sales Exp. Payable Exp. Payable S/debtors Cash

10000 400 1600 12000 6000

2000

5000 800 200 2000

20000

20000

24000

10000 1600 400 12000

3200 800 20000 12000

12000

99 100

12000/- from cash Amount Paid to Mr. Asif Rs. 6000 from SBI bank VAT liability paid to Sales Tax dept from SBI

To Ram Mr. Asif- Dr To SBI Output vat –Dr To Input Vat To SBI

Current assets Current Lib Current assets Current Lib Current assets Current assets

S/debtors S/Creditors Bank Exp. Payable Deposit Bank

6000

6000

400 200 200

100 Journal Entries

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