Accounting (Commonly asked accounting journal entries)
Commonly asked accounting journal entries in question–answer format, covering important topics like Capital A/c, Drawing A/c, Stationery A/c, etc.
✅ 1. Capital Account Entry
Q: Owner started business with cash ₹1,00,000.
A:
Journal Entry:
Date Particulars L.F. Debit (₹) Credit (₹)
----- ------------------------------- ---- ---------- -----------
Cash A/c Dr. 1,00,000
To Capital A/c 1,00,000
(Being business started with cash)
✅ 2. Drawing Account Entry (Cash withdrawn for personal use)
Q: Owner withdrew ₹5,000 for personal use.
A:
Journal Entry:
Date Particulars L.F. Debit (₹) Credit (₹)
----- ------------------------------- ---- ---------- -----------
Drawings A/c Dr. 5,000
To Cash A/c 5,000
(Being cash withdrawn for personal use)
✅ 3. Stationery Account Entry
Q: Purchased stationery for office use ₹1,000.
A:
Journal Entry:
Date Particulars L.F. Debit (₹) Credit (₹)
----- ------------------------------- ---- ---------- -----------
Stationery A/c Dr. 1,000
To Cash A/c 1,000
(Being stationery purchased for office use)
✅ 4. Goods Purchased for Cash
Q: Purchased goods for ₹10,000 in cash.
A:
Journal Entry:
Date Particulars L.F. Debit (₹) Credit (₹)
----- ------------------------------- ---- ---------- -----------
Purchases A/c Dr. 10,000
To Cash A/c 10,000
(Being goods purchased for cash)
✅ 5. Goods Sold for Cash
Q: Sold goods for ₹15,000 in cash.
A:
Journal Entry:
Date Particulars L.F. Debit (₹) Credit (₹)
----- ------------------------------- ---- ---------- -----------
Cash A/c Dr. 15,000
To Sales A/c 15,000
(Being goods sold for cash)
✅ 6. Rent Paid
Q: Paid office rent ₹2,000.
A:
Journal Entry:
Date Particulars L.F. Debit (₹) Credit (₹)
----- ------------------------------- ---- ---------- -----------
Rent A/c Dr. 2,000
To Cash A/c 2,000
(Being rent paid in cash)
✅ 7. Commission Received
Q: Received commission ₹800.
A:
Journal Entry:
Date Particulars L.F. Debit (₹) Credit (₹)
----- ------------------------------- ---- ---------- -----------
Cash A/c Dr. 800
To Commission A/c 800
(Being commission received)
✅ 8. Depreciation Charged on Furniture
Q: Charged depreciation on furniture ₹500.
A:
Journal Entry:
Date Particulars L.F. Debit (₹) Credit (₹)
----- ------------------------------- ---- ---------- -----------
Depreciation A/c Dr. 500
To Furniture A/c 500
(Being depreciation charged)
✅ 9. Amount Given as Loan
Q: Gave a loan of ₹20,000 to Mr. X.
A:
Journal Entry:
Date Particulars L.F. Debit (₹) Credit (₹)
----- ------------------------------- ---- ---------- -----------
Loan to Mr. X A/c Dr. 20,000
To Cash A/c 20,000
(Being loan given to Mr. X)
✅ 10. Interest Received on Investment
Q: Received interest on investment ₹1,200.
A:
Journal Entry:
Date Particulars L.F. Debit (₹) Credit (₹)
----- ------------------------------- ---- ---------- -----------
Cash A/c Dr. 1,200
To Interest Received A/c 1,200
(Being interest received on investment)
Comments
Post a Comment