ACCOUNTS
PERSONAL A/C REAL A/C NOMINAL A/C
1- PERSONAL A/C 2- REAL A/C
DEBIT THE RECEIVER DEBIT WHAT COMES IN
CREDIT THE GIVER CREDIT WHAT GOES OUT
EXAMPLE EXAMPLE
1- PAID CASH TO RAM 1- PURCHASE GOODS FOR CASH
RAM A/C-____________________Dr PURCHASE A/C ______________ Dr
TO CASH A/C_____________Cr TO CASH A/C ___________ Cr
2- RECEIVE CASH FROM POOJA 2- SOLD GOODS FOR CASH
CASH A/C ____________________ Dr CASH A/C __________________ Dr
TO POOJA A/C _____________Cr TO SALES A/C_____________ Cr
3- PAID CASH TO ABC LTD. 3- PURCHASE FURNITURE
ABC LTD. A/C _________________ Dr FURNITURE A/C ______________ Dr
TO CASH A/C _______________ Cr TO CASH A/C ____________ Cr
JOURNALS (PURCHASE ALWAYS BE IN DEBIT)
(SALES ALWAYS BE IN CREDIT)
SR. NO. PARTICULARS AMOUNT AMOUNT
1 PURCHASE GOODS FOR CASH RS 10000
PURCHASE A/C ______________ Dr 10000
TO CASH A/C _____________ Cr 10000
2 PURCHASE GOODS FOR CASH FROM RAVI Rs 20000
PURCHASE A/C ______________ Dr 20000
TO CASH A/C _____________ Cr 20000
3 PURCHASE GOODS FROM AMIT Rs 10000
PURCHASE A/C ______________ Dr 10000
TO AMIT A/C ____________ Cr 10000
4 PURCHASE GOODS Rs 10000
PURCHASE A/C ______________ Dr 10000
TO CASH A/C _____________ Cr 10000
5 SOLD GOODS FOR CASH Rs 15000
CASH A/C ________________ Dr 15000
TO SALES A/C __________ Cr 15000
6 SOLD GOODS FOR CASH FROM POOJA Rs 5000
CASH A/C ________________ Dr 5000
TO SALES A/C __________ Cr 5000
7 SOLD GOODS TO REENA Rs 20000
REENA A/C ____________ Dr 20000
TO SALES A/C ________ Cr 20000
8 SOLD GOODS Rs 10000
CASH A/C ______________ Dr 10000
TO SALES A/C __________ Cr 10000
9 RECEIVE CASH FROM VISHU OF THE SALES Rs,10000 LAST DAYS.
CASH A/C ______________ Dr 10000
TO VISHU A/C _________ Cr 10000
10 PAID CASH TO MUKESH Rs,20000 OF THE PURCHASE BRFORE
10 DAYS .
MUKESH A/C ___________ Dr 20000
TO CASH A/C _________ Cr 20000
11 PAID SALARY TO RAVI Rs, 2000
SALARY A/C _____________ Dr 2000
TO CASH A/C _________ Cr 2000
12 PAID WAGES FOR CASH TO SEEMA Rs,1000
WAGES A/C _____________ Dr 1000
TO CASH A/C __________ Cr 1000
13 RECEIVE COMMISSION FROM AMIT 500
CASH A/C ___________ Dr 500
TO COMMISSION A/C ________ Cr 500
3- NOMINAL A/C
DEBIT ALL EXPENSES & LOSSES
CREDIT ALL INCOMES & GAINS
EXAMPLE
1- PAID SALARY
SALARY A/C _______________ Dr
TO CASH A/C ___________ Cr
2- RECEIVE COMMISSION
CASH A/C _______________ Dr
TO COMMISSION A/C _____ Cr
3-
BASIC TERM
SR.NO PARTICULARS
1 CAPITAL
RAM START BUSINESS WITH CAPITAL 50000
CASH A/C __________ Dr
TO CAPITAL A/C _________ Cr
2 LAIBILITY
THERE ARE TWO TYPES OF LIABILITY
1-(LONG TERM) 2-(SHORT TERM)
3 ASSETS
THERE ARE TWO TYPES OF ASSETS
1-(CURRENT ASSTS) 2-(FIXED ASSETS)
4 EXPENSES
PAID WAGES FOR CASH (expenses are always on cash)
EXPENSES A/C __________ Dr
TO CASH A/C ________ Cr
5 PURCHASE RETURN
(GOODS THAT WE RETURN IS CALLED PURCHASE RETURN)
GOODS RETURN TO RAM.
RAM A/C __________ Dr
TO PURCHASE RETURN A/C _______ Cr
6 SALES RETURN
(GOODS THAT SOMEONE RETURN TO US IS CALLED AS SALES RET
GOODS RETURN BY RAM
SLAES RETURN A/C _______ Dr
TO RAM A/C __________ Cr
7 DISCOUNT
THERE ARE TWO TYPES OF DISCOUNT
1-(TRADE DISCOUNT) 2-(CASH DISCOUNT)
EXAMPLE:. (1)
PURCHASE GOODS FOR 10000 @10% T.D
PURCHASE A/C ___________ Dr 9000
TO CASH A/C __________ Cr 9000 EXAMPLE -2 SOLUTION
EXAMPLE:. (2) 10000 - 10% = 9000
PURCHASE GOODS FOR 10000 @10% T.D, 4% C.D 9000 * 4/100 = 360
PURCHASE A/C ___________ Dr 9000 9000 - 360 = 8640
TO CASH A/C _________ Cr 8640
TO DISCOUNT A/C _________ Cr 360
8(A) BAD DEBTS
RECEIVE CASH FROM RAVI 40%, OF HIS ESTATE.
CASH A/C _________ Dr 4000
BAD DEBTS A/C _______ Dr 6000
TO RAVI A/C ________Cr 10000
IF BAD DEBTS RECOVER THEN,
8(B) CASH A/C ____________________ Dr 6000
TO BAD BEDTS RECOVER A/C ______ Cr 6000
9 DEPRECIATION
DEPRECIATION A/C ___________ Dr
TO ASSESTS A/C ___________Cr
10 OUTSTANDING EXPENSE
PAID RENT OF LAST MONTH.
RENT A/C ____________ Dr
TO OUTSTANDING RENT A/C ______ Cr
11 PRE-PAID EXPENSE
RENT PAID IN ADVANCE
PRE-PAID RENT A/C _________ Dr
TO RENT A/C _________ Cr
12 INTEREST ON CAPITAL
INTEREST ON CAPITAL A/C ______ Dr
TO CAPITAL A/C __________ Cr
13 INTEREST ON DRAWING
DRAWING A/C _________ Dr
TO INTEREST ON DRAWING A/C _____ Cr
14 DRAWING IN GOODS
DRAWING A/C ____________ Dr
TO PURCHASE A/C ________ Cr
15 GOODS GIVEN AWAY CHARITY
CHARITY A/C ___________ Dr
TO PURCHASE A/C ________ Cr
16 GOODS DISTRIBUTED AS FREE SAMPLE
ADVERTISEMENT A/C ___________ Dr
TO PURCHASE A/C ________ Cr
17 GOODS LOSS BY THEFT OR FIRE
LOSS BY FIRE A/C __________ Dr
TO PURCHASE A/C ________ Cr
17(A) INSURANCE CLAIM
INSURANCE A/C ___________ Dr
TO GOODS LOSS BY FIRE OR THEFT A/C ______ Cr
17(B) INSURANCE COMPANY ADMITTED FULLY AMOUNT
BANK A/C ________________ Dr
TO INSURANCE COMPANY A/C _______ Cr
17© INSURANCE DOES NOT ADMITTED FULLY AMOUNT
BANK A/C ________________ Dr
PROFIT & LOSS A/C ________ Dr
TO INSURANCE COMPANY A/C _______ Cr
18 CARRIAGE (GAADI BHAADA)
PURCHASE GOODS FOR CASH 10000, AND ALSO PAID 2000,
CARRIAGE ON IT.
PURCHASE A/C _______________ Dr 10000
CARRIAGE A/C ________________Dr 2000
TO CASH A/C _________________ Cr 12000
18(A) PURCHASE MACHINERY FOR CASH 10000,AND PAID 2000,
CARRIAGE ON IT. (ASSETS INLUDES EXPENSES)
MACHINERY A/C ___________ Dr
TO CASH A/C ___________ Cr
19 BROKERAGE (TAKING COMMISSION)
PURCHASE A BUILDING Rs.100000 AND ALSO PAID Rs.20000
BROKERAGE ON IT.
BUILDING A/C __________ Dr 120000
TO CASH A/C ____________ Cr 120000
20 REPAIR
PAID Rs.2000 FOR REPAIR OF MACHINERY
REPAIR A/C _______________ Dr
TO CASH A/C ____________ Cr
20(A) PURCHASE OLD MACHINERY Rs10000 AND PAID Rs. 4000 ON ITS
REPAIR SAME TIME OR IMMEDIATELY
MACHINERY A/C ______________ Dr 14000
TO CASH A/C _______________ Cr 14000
ON
BANKING TRANSACTION
(RULE OF BANKING TRANSACTION)
SR.NO. PARTICULARS
1 WHEN CASH DEPOSITE INTO BANK
BANK A/C ________________ Dr
TO CASH A/C _____________ Cr
2 WHEN CASH WITHDRAW FROM BANK
CASH A/C ____________________ Dr
TO BANK A/C _________________ Cr
3 WHEN A CHEQUE ,D.D RECEIVE FROM A CUSTOMER.(RAM)
CHEQUE IN HAND A/C ______________ Dr
TO RAM A/C ___________________ Cr
3(A) WHEN A CHEQUE ,D.D RECEIVE FROM A CUSTOMER.(RAM). AND DEPOSITE
THE BANK IN SAME DAY.
BANK A/C ________________ Dr
TO RAM A/C _______________ Cr
3(B) WHEN A CHEQUE ,D.D RECEIVE FROM A CUSTOMER(RAM). AND DEPOSITE
IN BANK AFTER 5 DAYS.
BANK A/C __________________ Dr
TO CHEQUE IN HAND A/C ___________ Cr
4 WHEN A CUSTOMER DIRECTLY DEPOSITE IN OUR BANK ACCOUNT.
BANK A/C ______________ Dr
TO CUSTOMER(RAM) A/C _________ Cr
5 WHEN A CHEQUE, D.D PREVIOUSLY IS DISHONOURED
CUSTOMER A/C ______________ Dr
TO BANK A/C ________________ Cr
6 WHEN A OWNER CASH WITHDRAW FROM BANK FOR PERSONAL USE.
DRAWING A/C __________________ Dr
TO BANK A/C __________________ Cr
7 WHEN A PAYMENT MADE BY CHEQUE
CUSTOMER(RAM) A/C ______________ Dr
TO BANK A/C ______________________ Cr
8 ANY EXPENSE PAID BY BANK
EXPENSE A/C _________________ Dr
TO BANK A/C ________________ Cr
9 WHEN INTEREST CHARGE BY BANK
INTEREST A/C ________________ Dr
BANK A/C ___________________ Cr
9(A) WHEN INTEREST ALLOW BY BANK.
BANK A/C ________________ Dr
TO INTEREST A/C __________ Cr
10 WHEN BANK CHARGES Rs.500
BANK CHARGES A/C _______________ Dr 500
TO BANK A/C ____________________ Cr 500
GST
(THERE ARE TWO TYPES OF GST) SR.NO PARTICULARS
1 2 1 PURCHASE GOODS Rs.10000 @6% SGST AND @6%
INTERA INTER PURCHASE A/C _______________ Dr 10000
INPUT SGST A/C ______________ Dr 600
CGST SGST IGST INPUT CGST A/C ______________ Dr 600
TO CASH A/C __________________ Cr
INPUT CGST 2 SOLD GOODS FOR CASH Rs.10000, SGST @6% AND
PURCHASE
INPUT SGST CASH A/C _____________________ Dr 1120
TO SALES A/C __________________ Cr
OUTPUT CGST TO OUTPUT CGST A/C ___________ Cr
SALE
OUTPUT SGST TO OUTPUT SGST A/C ___________ Cr
3 PURCHASE MACHINERY Rs.20000, CGST @5% & S
MACHINERY A/C ________________ Dr 20000
INPUT CGST A/C ________________ Dr 1000
SR.NO PARTICULARS INPUT SGST A/C ________________ Dr 1000
1 PURCHASE RETURN TO CASH A/C __________________ Cr
CREDITORS A/C _____________ Dr
TO PURCHASE RETURN A/C ______ Cr 4 IF WE HAVE,
TO INPUT SGST A/C _____________ Cr INPUT CGST = 10000
TO INPUT CGST A/C _____________ Cr INPUT SGST = 10000
OR
2 SALE RETURN OUTPUT CGST = 15000
SALES RETURN A/C ______________ Dr OUTPUT SGST = 15000
OUTPUT SGST A/C _______________ Dr THEN,
OUTPUT CGST A/C _______________ Dr TOTAL OUTPUT GST = 30000
TO DEBTORS A/C _________________ Cr TOTAL INPUT GST = 20000
REMAINING 10000 WE WILL PAY TO GOVERNMEN
3 PURCHASE ASSETS
ASSETS A/C __________________ Dr JOURNAL ENTRY OF IT
INPUT SGST A/C ______________ Dr OUTPUT SGST A/C ___________ Dr 15000
INPUT CGST A/C ______________ Dr OUTPUT CGST A/C ___________ Dr 15000
TO CASH/BANK A/C ______________ Cr TO INPUT SGST A/C _____________ Cr 1
TO INPUT CGST A/C _____________ Cr 1
4 PAID ANY EXPENSE TO BANK A/C __________________ Cr 1
EXPENSE A/C _________________ Dr (5000+5000)
INPUT SGST A/C ______________ Dr
INPUT CGST A/C ______________ Dr
TO CASH/BANK A/C _____________ Cr
5 RECEIVE ANY INCOME
CASH/BANK A/C ________________ Dr
TO COMMISSION RECEIVE A/C _________ Cr
TO OUTPUT SGST A/C ________________ Cr
TO OUTPUT CGST A/C ________________ Cr
6 GOODS WITHDRAW FOR PERSONAL USE.
DRAWING A/C _______________ Dr
TO PURCHASE A/C ____________ Cr
TO INPUT SGST A/C _____________ Cr
TO INPUT CGST A/C _____________ Cr
7 LOSS BY FIRE AND THEFT
LOSS BY FIRE AND THEFT A/C ________ Dr
TO PURCHASE A/C ____________ Cr
TO INPUT SGST A/C _____________ Cr
TO INPUT CGST A/C _____________ Cr
8 SETTLE OF GST (INPUT , OUTPUT)
OUTPUT SGST A/C ___________ Dr
OUTPUT CGST A/C ___________ Dr
TO INPUT SGST A/C _____________ Cr
TO INPUT CGST A/C _____________ Cr
TO BANK A/C __________________ Cr
PARTICULARS
Rs.10000 @6% SGST AND @6% CGST
___________ Dr 10000
___________ Dr 600
___________ Dr 600
________________ Cr 11200
ASH Rs.10000, SGST @6% AND CGST @6%
_____________ Dr 11200
_________________ Cr 10000
ST A/C ___________ Cr 600
T A/C ___________ Cr 600
ERY Rs.20000, CGST @5% & SGST @5%.
______________ Dr 20000
_____________ Dr 1000
_____________ Dr 1000
_________________ Cr 22000
OR
00
00
THEN,
= 30000
20000
WE WILL PAY TO GOVERNMENT
IT
__________ Dr 15000
__________ Dr 15000
/C _____________ Cr 10000
/C _____________ Cr 10000
________________ Cr 10000
