100 Journal entries

Sl . no 1

Transaction

Journal entry

Group

Sub group

Dr. Amt.

Cr. Amt

Capital Related entries

Partnership company Mr. A introduce capital Rs. 100000/Proprtiorship company Introduce Capital for Business Rs. 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 20000 equity shares issued to shares holders Cash Cash-Dr To AS capital Cash Dr To Capital SBI bank-Dr To Equity share capital SBI Bank- Dr To share Application money Interest on capital Dr To Capital Dividend Dr To Dividend equalization reserve SBI Dr To Call money Dividend equalization reserve-Dr To SBI 7 Share application money- Dr Call money Dr To equity share Capital Current Assets Capital Current Assets Capital Cash 50000 50000 100000 100000

Current Assets Capital Current Assets Capital Indirect Exp Capital Indirect Exp Capital Current assets Capital Capital Current Assets Capital Capital Capital

Bank Bank

1000000 100000

100000 0 100000

3 4

5000 400000 Reserve & surplus Bank Reserve & Surplus Bank 100000 400000

5000 400000

5 6

10000 400000

100000 100000

200000

Cash & Bank Related entries

8 9 10 11 12 Open a current account in UBI by depositing Cash Rs. 50000/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 Cash deposited to SBI bank Rs. 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 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 UBI-Dr To Cash UBI Dr To SBI Cash Dr To SBI Petty Cash- Dr To Cash SBI- Dr To cash Furniture & Fixture- Dr To cash Furniture & Fixture-Dr To cash Computer & assoceries -Dr To SBI Motor Car- Dr To SBI Land-Dr To SBI Patent-Dr To SBI Computer & Assoceries- Dr To HP associates Office equipment-Dr Current Assets Current Assets Current Current Current Current Current Current Assets assets Assets Assets Assets assets Bank Cash Bank Bank Bank Cash Cash Cash Bank Cash 50000 20000 10000 2000 5000 50000 20000 10000 2000 5000

Current assets Current assets Fixed assets Current Assets Fixed assets Current Assets Fixed assets Current assets Fixed Assets Current Assets Fixed Assets Current assets Fixed assets Current Assets Fixed assets Current Lib. Fixed assets

Fixed Assets
13 35000 Cash 10000 Cash Bank Bank 105000 Bank 20000 Bank S/creditors 5000 75000 5000 75000 20000 105000 25000 250000 25000 250000 10000 35000

14 15 16 17

18 19 20

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 Computer & assoceries- Dr To SBI Building Dr To SBI Machinery-Dr Installation charges Dr To SBI Office Equipment- Dr To SBI

Current assets Fixed assets Current assets Fixed assets Current Assets Fixed assets Fixed assets Current assets Fixed Assets Current assets

Bank 3500 150000 Bank 25000 1000 Bank Bank 15000 26000 15000 3500 150000

Bank

Expense Related Entry

25 26 27 Postage & courier charges paid Rs. 250/- from Petty cash Rent paid for office Rs. 20000/from cash Car hire charges paid for visit of client Rs. 1000/- for Sales manger Local Conveyance paid to employee Rs. 150/- from petty 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) Postage & courier- Dr To Petty cash Office Rent-Dr To cash Traveling Exp-Dr To cash Conveyance Dr To Petty Cash Internet Charges-Dr To cash Repair & Maintenance-Dr To cash General charges Dr To Petty cash Indirect Exp. Current Assets Indirect exp Current Assets Indirect Exp Current Assets Indirect exp Current Assets Indirect exp Current Assets Indirect exp. Current Assets Indirect. Exp Current assets Cash Cash Cash 1000 1000 250 20000 250 20000

28

Cash

150

150

29 30 31

Cash Cash Cash

500 2500 500

500 2500 500

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 Royalty paid for production of new material Rs. 25000 from SBI bank Commission paid on sales Rs. 4000 from cash Bonus paid to employee Rs. 5000 from SBI bank Leave salary paid Rs. 5000 from cash 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 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

Bank charges Dr To SBI Municipal Tax-Dr To Cash Donation-Dr To Cash Wages A/c-Dr To Cash Repairing charges-Dr To SBI Royalty-Dr To SBI Commission Dr To Cash Bonus Dr To SBI Leave salary-Dr To Cash Printing & Stationery Dr To Cash Staff welfare-Dr To Cash Training Cost-Dr To Cash Tour Expense Dr To Cash Traveling Exp-Dr To Cash Telephone charges Dr To Cash Incentive & Prizes- Dr To cash

Indirect Exp Current Assets Indirect Exp Current Assets Indirect Exp Current Assets Direct Exp Current Assets Indirect exp Current Assets Direct Exp Current assets Indirect exp Current Assets Indirect exp. Current Assets Indirect exp Current assets Indirect exp Current assets Indirect Exp Current assets Indirect Exp Current assets Indirect Exp Current assets Indirect Exp Current Assets Indirect exp Current assets Indirect exp Current Assets

Bank Cash Cash Cash

300 2500 500 4000 2500

300 2500 500 4000 2500 25000 4000 5000 5000 50 600 2000 2000 1000 2000 2000

Bank Bank Cash 5000 Bank Cash cash 600 Cash 2000 Cash Cash Cash Cash 2000 Cash 2000 1000 2000 5000 50 25000 4000

48 49 50 51 52

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 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 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

News paper & journals Dr To Petty cash Legal charges- Dr To cash Telephone charges Dr To Cash Postage & Courrier Dr To cash Salary- Dr To PF To P.tax ToTDS To Cash Electricity- Dr To cash Repair & maintenance Dr To cash Printing & Stationery Dr To Cash Bank charges Dr To SBI Advertisement Dr To cash Printing & Stationery- Dr To Petty Cash General charges Dr To Cash Advertisement-Dr To Cash

Indirect exp Current assets Indirect exp Current assets Indirect exp Current Assets Indirect exp Current assets Indirect exp Current Lib Current lib Current Lib Current assets Indirect exp Current assets Indirect Exp. Current Assets Indirect Exp Current assets Indirect Expense Current assets Indirect exp Current assets Indirect exp Current assets Indirect Exp Current assets Indirect exp Current assets

250 Cash Cash Cash 400 Cash 15000 3000 2000

250 3000 2000 400 600 200 1000 13200

Cash 2000 Cash 3000 Cash Cash Bank 4000 Cash Cash Cash Cash 200 200 2000 300 200

53 54 55 56 57 58 59 60

2000 3000 300 200 4000 200 2000 200

Investment

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 Bank 5000 Cash 30000 Bank Bank 350000 500

20000 5000 30000 30000 5000 500

Income / Receivable entries

66 67 68 69 70 71 Commission Received from the party Rs. 4000 in cash 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 Cash-Dr To Commission SBI bank-Dr To Interest SBI-Dr To rent Rent Receivable from Pranab Dr To rent Cash Dr To Miscellaneous Income Current Assets Indirect Income Current assets Indirect income Current assets Indirect Income Current assets Indirect Income Current assets Indirect Income Cash Bank Bank 4000 300 5000 15000 Cash 500 4000 300 5000 15000 500

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 Current assets Current assets Indirect exp Current assets Current assets Current assets Indirect exp Current assets Current assets Advances Cash Cash Advances Bank Advances Bank 5000 4500 500 5000 15000 5000

5000 5000 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/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 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

MTNL deposit Dr To SBI Advance Rent Dr To SBI Loans to Sister concern- Dr To SBI Interest receivable-Dr To Interest Cash-Dr To Loan from Sister Concern Advance Tax-Dr To SBI Rental Deposit-Dr To SBI

Current assets Current assets Current assets Current assets Current assets Current assets Current assets Indirect Income Current assets Current assets Current Current Current Current assets assets assets assets

Deposit Advances Bank Loans Bank Loans Cash Loans Advance Bank Deposit Bank

5000 5000 50000 100000 5000 10000 10000 50000 50000 100000 5000 10000 10000 50000

TDS- Payable/Receivable & their Set of

83 84 Labour charges Dr To TDS Payable Top SBI TDS payable Dr To SBI SBI Dr TDS Receivable Dr To Advertisement contract Professional charges Dr To TDS payable To Cash Direct Expense Current Lib Current assets Current Lib Current assets Current assets Current assets Indirect income Indirect exp Current Lib Current assets Payable Bank Payable Bank Bank Deposit 6000 60 60 5940 60

85

29700 300

30000

86

Payable Cash

5000

250 4750

Current Liabilities/Provision /Expense payable/Loans

87 Loan taken from parties Rs. SBI-Dr Current Assets Bank 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 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

Current Lib Indirect Exp Current . Lib Indirect exp Current Lib Indirect exp Current lib Indirect Exp Current Lib

Exp. payable 1000 Exp. Payable 5000 Exp. Payable 25000 Exp Payable 10000 Provision 10000 25000 5000 1000

Purchase/ Sales & Taxes , their Set off

92 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 5000 800 200 2000 20000 3200 800 20000 12000

93

94 95 96

2000 20000 24000

97

10000 1600 400 12000

98

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 Current Current Current Current Current

assets Lib assets Lib assets assets

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

6000 400

6000 200 200