Some Important Transaction with Journal entries

Mr. Ajay Started Business with Rs. 60,000

Cash a/c > Real a/c > Comes >Dr.

Capital a/c > Personal a/c > Giver> Cr.

uEntry:-

Cash a/c ……………….Dr.  60,000

         To Capital a/c                 60,000

(Being Cash involved in the business )

 Mr. Ajay withdrew cash from business Rs. 1000

Cash a/c > Real a/c > Go >Cr.

Drawing a/c > Personal a/c > Receiver> Dr.

uEntry:-

Drawing a/c ……………….Dr.  1,000

         To Cash a/c                        1,000

(Being Cash withdrew for personal use. )

Purchased Goods for Cash Rs. 25,000

Cash a/c > Real a/c > Go >Cr.

Purchases a/c > Real a/c > Comes> Dr.

uEntry:-

Purchases a/c ……………….Dr.  25,000

    To Cash a/c                                  25,000

(Being purchases goods for cash. )

Purchased Goods from Mr. Bansal for cash  Rs. 10,000

Cash a/c > Real a/c > Go >Cr.

Purchases a/c > Real a/c > Comes> Dr.

Entry:-

Purchases a/c ……Dr.  10,000

         To Cash a/c                      10,000

(Being purchases goods for cash. )

Purchased Goods from Mr. Bansal on credit  Rs. 15,000

Bansal a/c > Personal a/c > Giver >Cr.

Purchases a/c > Real a/c > Comes> Dr.

Entry:-

Purchases a/c ……………….Dr.  15,000

          To Bansal a/c                         15,000

(Being purchases goods on credit. )

Sold goods for cash Rs. 20,000
Cash a/c > Real a/c > Come >Dr.
Sales a/c > Real a/c > Go> Cr.
Entry:-
Cash a/c ……………….Dr.  20,000
       To Sales a/c                     20,000
(Being sold goods for cash. )

Sold goods to Mr. Charles on credit Rs. 8000
Charles a/c > Personal a/c >Receiver>Dr.
Sales a/c > Real a/c > Go> Cr.
Entry:-
Charles a/c ……………….Dr.  8,000
        To Sales a/c                        8,000
(Being sold goods on credit.)

Purchased Furniture for cash Rs. 16,000
Cash a/c > Real a/c > Go >Cr.
Furniture a/c > Real a/c > Comes> Dr.
Entry:-
Furniture a/c ……………….Dr.  16,000
        To Cash a/c                              16,000
(Being purchases furniture for cash.)

Paid Rent for cash Rs. 2000
Rent a/c > Nominal a/c > Expense>Dr.
Cash a/c > Real a/c > Go> Cr.
Entry:-
Rent a/c ………….Dr.  2,000
             To Cash a/c              2,000
(Being rent paid for cash. )

 Paid Electricity Bill for cash Rs. 500
Ele. Bill a/c > Nominal a/c > Expense>Dr.
Cash a/c > Real a/c > Go> Cr.
Entry:-
Ele. Bill a/c ……………….Dr.  500
           To Cash a/c                     500
(Being Ele. Bill paid for cash. )

 Paid wages to labour for cash Rs. 500
Wages a/c > Nominal a/c > Expense>Dr.
Cash a/c > Real a/c > Go> Cr.
Entry:-
Wages a/c ……………….Dr.  500
          To Cash a/c                   500
(Being wages paid for cash. )

Paid carriage to transpotor Rs. 500
Carriage a/c > Nominal a/c > Expense>Dr.
Cash a/c > Real a/c > Go> Cr.
Entry:-
Carriage a/c ……………….Dr.  500
           To Cash a/c                    500
(Being Carriage paid for cash. )

Paid postage & Telegrams Rs. 500
Postage & Tel. a/c>Nominal a/c>Expense>Dr.
Cash a/c > Real a/c > Go> Cr.
Entry:-
Postage & Tel. a/c …….Dr.  500
       To Cash a/c                               500
(Being Postage & Tel. paid for cash. )

Paid Telephone Bill Rs 500
Telephone Bill a/c>Nominal a/c>Expense>Dr.
Cash a/c > Real a/c > Go> Cr.
Entry:-
Telephone Bill a/c …….Dr.  500
         To Cash a/c                         500
(Being Telephone paid for cash. )

Paid Printing Exp. Rs 500
Printin Exp. a/c>Nominal a/c>Expense>Dr.
Cash a/c > Real a/c > Go> Cr.
Entry:-
Printing Exp. a/c …….Dr.  500
            To Cash a/c                          500
(Being printing exp. paid for cash. )

Paid commission to agent Rs 500
Commission a/c>Nominal a/c>Expense>Dr.
Cash a/c > Real a/c > Go> Cr.
Entry:-
Commission a/c …….Dr.  500
            To Cash a/c                     500
(Being commission paid for cash. )

Paid Insurance Premium Rs 500
Insurance Premium a/c>Nominal a/c>Expense>Dr.
Cash a/c > Real a/c > Go> Cr.
Entry:-
Commission a/c …….Dr.  500
           To Cash a/c                   500
(Being commission paid for cash. )

Paid freight Charge Rs 500
Freight Charge a/c>Nominal a/c>Expense>Dr.
Cash a/c > Real a/c > Go> Cr.
Entry:-
Freight charge a/c …….Dr.  500
           To Cash a/c                         500
(Being freight charge paid for cash. )

Paid audit fee Rs 500
Audit fee a/c>Nominal a/c>Expense>Dr.
Cash a/c > Real a/c > Go> Cr.
Entry:-
Audit fee a/c …….Dr.  500
           To Cash a/c                500
(Being Audit paid for cash. )

Paid Advertising Exp. Rs 500
Advertising Exp. a/c>Nominal a/c>Expense>Dr.
Cash a/c > Real a/c > Go> Cr.
Entry:-
Advertising Exp. a/c …….Dr.  500
          To Cash a/c                               500
(Being advertising exp. paid for cash. )

Loss by fire Rs.5,00,000 (Burning of Goods, Furniture, Building & CCTV Camera in the Godown) 
Loss by fire a/c>Nominal a/c>Expense>Dr.
Purchases a/c >Real a/c>Go>Cr.
Furniture a/c>Real a/c> Go>Cr.
Building a/c>Real a/c>Go>Cr.
 CCTV a/c>Real a/c>GoCr.
Entry:-
Loss by fire a/c ………Dr.  5,00,000
       To Purchases a/c                           3,00,000  
       To Furniture a/c                                 35,000
       To Building a/c                               1,50,000
       To CCTV Camera a/c                        15,000
  (Being Godown burn by fire.) 



Loss by fire Rs.5,00,000 (Burning of goods)
Loss by fire a/c>Nominal a/c>Expense>Dr.
Purchases a/c >Real a/c>Go>Cr.
Entry
Loss by fire a/c ………Dr.3,00,000
       To Purchases a/c                     3,00,000   
 (Being Godown burn by fire.)

Loss by fire Rs. 5,00,000 (Burning of Furniture )
Loss by fire a/c>Nominal a/c>Expense>Dr.
Furniture a/c >Real a/c>Go>Cr.
Entry 
Loss by fire a/c ………Dr.35,000
       To Furniture a/c                     35,000
 (Being Godown burn by fire.)

Loss by fire Rs. 5,00,000 (Burning of Building )
Loss by fire a/c>Nominal a/c>Expense>Dr.
Building a/c >Real a/c>Go>Cr.
Entry 
Loss by fire a/c ………Dr.1,50,000
       To Building a/c                        1,50,000   
 (Being Godown burn by fire.)

Loss by fire Rs. 5,00,000 (Burning of CCTV Camera )
Loss by fire a/c>Nominal a/c>Expense>Dr.
CCTV camera a/c >Real a/c>Go>Cr.
Entry 
Loss by fire a/c ………Dr.1,50,000
      To CCTV camera a/c                     1,50,000   
 (Being Godown burn by fire.) 

Purchaeses Machine from Laxmi Machinary  for cash.
  Rs. 2,00,000
Machinary a/c >Real a/c>Come>Dr.
Cash a/c >Real a/c>Go>Cr.
Entry
Machinary a/c ………Dr.2,00,000
       To Cash a/c                                2,00,000   
 (Being Machine purchase for cash.) 
Purchaeses Machine from Laxmi Machinary  on credit.
  Rs. 2,00,000
Machinary a/c >Real a/c>Come>Dr.
Laxmi Machinary a/c >Personal a/c>Giver>Cr.
Entry
Machinary a/c ……….Dr. 2,00,000
       To Laxmi Machinary a/c             2,00,000   
 (Being Machine purchase on credit.) 
Depreciation charge on machine(Value of machinery Rs 2,00,000) @ 10% per annual
Depreciation a/c >Nominal a/c>Expense>Dr.Machinery a/c >Real a/c>Go>Cr.
Entry
Depreciation a/c ……….Dr. 20,000
       To Laxmi Machinary a/c             20,000   
 (Being depreciation charge on machinery.)