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Journal Entries

DATE PARTICULARS L.F. DEBIT CREDIT

Apr 1 Cash A/c Dr 20,00,00


0
To Capital A/c 20,00,000
(Being business started with cash)
.
Apr 2 SBI A/c Dr. 10,00,00
0
To Cash A/c 10,00,000
(Being cash deposited in State Bank of India)

Apr 3 PNB A/c Dr. 5,00,000


To Cash A/c 5,00,000
(Being cash deposited in Punjab National Bank)

Apr 4 Furniture A/c Dr. 1,00,000


To SBI A/c 1,00,000
(Being furniture purchased and payment made by cheque)

Apr 5 Machinery A/c Dr. 1,50,000


To Tarun’s A/c 1,50,000
(Being machinery purchased from Tarun)

Apr 6 Purchase A/c Dr. 50,000


To Harish’s A/c 50,000
(Being goods purchased from Harish)
DATE PARTICULARS L.F. DEBIT CREDIT

Apr 7 Jai’s A/c Dr. 2,00,000


To Sales A/c 2,00,000
(Being goods sold to Jai)

Apr 8 Harish’s A/c Dr. 1,000


To Purchase Return A/c 1,000
(Being goods returned to Harish)

Apr 9 Harish’s A/c Dr. 49,000


To Discount Received A/c 4,000
To Cash A/c 45,000
(Being cash paid to Harish in full settlement of his account and discount received)

Apr 10 Sales Return A/c Dr. 10,000


To Jai’s A/c 10,000
(Being goods returned by Jai)

Apr 11 PNB A/c Dr. 1,80,000


Discount Allowed A/c Dr. 10,000
To Jai’s A/c 1,90,000
(Being cash paid by Jai in full settlement of his account and discount allowed)

Apr 12 Purchase A/c Dr. 30,000


To Cash A/c 30,000
(Being goods purchased for cash)

Apr 13 SBI A/c Dr. 1,00,000


DATE PARTICULARS L.F. DEBIT CREDIT
To Sales A/c 1,00,000
(Being goods sold and payment received by cheque)

Apr 14 Naman’s A/c Dr. 20,000


To Sales A/c 20,000
(Being goods sold to Naman)

Apr 15 Naman’s A/c Dr. 1,000


To Interest Received A/c 1,000
(Being interest charged on Naman for late payment)

Apr 16 Cash A/c Dr. 21,000


To Naman’s A/c 21,000
(Being cash paid by Naman in full settlement of his account)

Apr 17 Salary A/c Dr. 60,000


To PNB A/c 60,000
(Being salary paid by cheque)

Apr 18 Rent A/c Dr. 7,000


To Cash A/c 7,000
(Being rent paid by cash)

Apr 19 Wages A/c Dr. 15,000


To Cash A/c 15,000
(Being wages paid)

Apr 20 Carriage Inward A/c Dr. 6,000


DATE PARTICULARS L.F. DEBIT CREDIT
To Cash A/c 6,000
(Being carriage inward paid)

Apr 21 Carriage Outward A/c Dr. 7,500


To Cash A/c 7,500
(Being carriage outward paid)

Apr 22 Cash A/c Dr. 20,000


To SBI A/c 20,000
(Being cash withdrawn from State Bank of India)

Apr 23 Drawings A/c Dr. 4,000


To Cash A/c 4,000
(Being cash withdrawn by proprietor for personal use)

Apr 24 Union Bank A/c Dr. 10,000


To Cash A/c 10,000
(Being cash deposited in Union Bank for 5 years)

Apr 25 Drawings A/c Dr. 5,000


To SBI A/c 5,000
(Being cash withdrawn from SBI by proprietor for personal use)

Apr 26 Traveling Expenses A/c Dr. 20,000


To SBI A/c 20,000
(Being traveling expenses paid by cheque)

Apr 27 Interest paid A/c Dr. 2,000


DATE PARTICULARS L.F. DEBIT CREDIT
To SBI A/c 2,000
(Being interest charged by SBI)

Apr 28 Depreciation on Furniture A/c Dr. 10,000


To Furniture A/c 10,000
(Being depreciation charged on Furniture)

Apr 29 Tarun’s A/c Dr. 1,50,000


To SBI A/c 1,50,000
(Being amount paid to Tarun by cheque in full settlement of his account)

Apr 30 Depreciation on Machinery A/c Dr. 25,000


To Machinery A/c 25,000
(Being depreciation charged on machinery)

May
1 SBI A/c Dr. 1,00,000
To ICICI A/c 1,00,000
(Being loan taken from ICICI and deposited in SBI)

2 Interest paid A/c Dr. 10,000


To ICICI A/c 10,000
(Being interest charged by ICICI)

3 ICICI A/c Dr. 1,10,000


To SBI A/c 1,10,000
(Being loan paid back to ICICI in full settlement of its account)
DATE PARTICULARS L.F. DEBIT CREDIT

4 Rajesh’s A/c Dr. 1,50,000


To SBI A/c 1,50,000
(Being loan given to Rajesh)

5 Rajesh’s A/c Dr. 15,000


To Interest Received A/c 15,000
(Being interest charged on Rajesh)

6 SBI A/c Dr. 1,65,000


To Rajesh’s A/c 1,65,000
(Being loan paid back by Rajesh in full settlement of his account)

7 Furniture A/c Dr. 50,000


To SBI A/c 50,000
(Being furniture purchased and payment made by cheque)

8 SBI A/c Dr. 10,00,00


0
To SBI A/c 10,00,000
(Being commission received by cheque and deposited in SBI)

9 PNB A/c Dr. 5,00,000


To Brokerage Received A/c 5,00,000
(Being brokerage received by cheque and deposited in PNB)

10 PNB A/c Dr. 1,00,000


To Cash A/c 1,00,000
DATE PARTICULARS L.F. DEBIT CREDIT
(Being cash deposited in PNB)

11 Drawings A/c Dr. 2,000


To Purchase A/c 2,000
(Being goods withdrawn by proprietor for personal use)

12 Land & Building A/c Dr. 11,00,00


0
To PNB A/c 11,00,000
(Being land & building purchased and payment made by cheque)

13 Profit & Loss A/c Dr. 10,000


To Provision for Bad & Doubtful Debts A/c 10,000
(Being provision created for bad & doubtful debts)

14 Profit & Loss A/c Dr. 5,000


To Provision for Discount on Debtors A/c 5,000
(Being provision for discount on debtors created)

15 Loss of goods by Theft A/c Dr. 1,000


To Purchase A/c 1,000
(Being goods lost by theft)

16 Loss of goods by Fire A/c Dr. 500


To Purchase A/c 500
(Being goods lost by Fire)
DATE PARTICULARS L.F. DEBIT CREDIT
17 Reliance Infocomm A/c Dr. 70,000
To SBI A/c 70,000
(Being amount invested in Reliance by cheque)

18 Transfer Inward A/c Dr. 10,000


To Aliganj Branch A/c 10,000
(Being goods purchased from Aliganj Branch)

19 Mahanagar Branch A/c Dr. 12,000


To Transfer Outward A/c 12,000
(Being goods sold to Mahanagar Branch)

Dr.
20 Computer A/c Dr. 25,000
Laptop A/c 66,000
To SBI A/c 91,000
(Being computer and laptop purchased and payment made by cheque)
Cash A/c
Dr. Cr.
Date Particulars J.F. Amount Date Particulars J.F. Amount

Apr 1 To Capital A/c 20,00,00 Apr 2 By SBI A/c 10,00,000


0
Apr 16 To Naman’s A/c 21,000 Apr 3 By PNB A/c 5,00,000
Apr 22 To SBI A/c 10,000 Apr 9 By Harish’s A/c 45,000
Apr 12 By Purchase A/c 30,000
Apr 18 By Rent A/c 7,000
Apr 19 By Wages A/c 15,000
Apr 20 By Carriage Inward A/c 6,000
Apr 21 By Carriage Outward A/c 7,500
Apr 23 By Drawings A/c 4,000
Apr 24 By Union Bank A/c 10,000
May 10 By PNB A/c 1,00,000
May 31 By Balance c/d 3,06,500
20,31,00 20,31,000
0
Jun 1 To Balance b/d 3,06,500
SBI A/c
Date Particulars J.F. Amount Date Particulars J.F. Amount

Apr 2 To Cash A/c 10,00,00 Apr 4 By Furniture A/c 1,00,000


0
Apr 13 To Sales A/c 1,00,000 Apr 22 By Cash A/c 10,000
May 1 To ICICI A/c 1,00,000 Apr 25 By Drawings A/c 5,000
May 6 To Rajesh’s A/c 1,65,000 Apr 26 By Traveling Expenses A/c 20,000
May 8 To Commission Received A/c 10,00,00 Apr 27 By Interest paid A/c 2,000
0
Apr 29 By Tarun’s A/c 1,50,000
May 3 By ICICI A/c 1,10,000
May 4 By Rajesh’s A/c 1,50,000
May 7 By Furniture A/c 50,000
May 17 By Reliance Infocomm A/c 70,000
May 20 By Computer A/c 25,000
May 20 By Laptop A/c 66,000
May 31 By Balance c/d 16,07,000
23,65,00 23,65,000
0
Jun 1 To Balance b/d 16,07,00
0
PNB A/c
Date Particulars J.F. Amount Date Particulars J.F. Amount

Apr 3 To Cash A/c 5,00,000 Apr 17 By Salary A/c 60,000


Apr 11 To Jai’s A/c 1,80,000 May 12 By Land & Building A/c 11,00,000
May 9 To Brokerage Received A/c 5,00,000 May 31 By Balance c/d 1,20,000
May 10 To Cash A/c 1,00,000
12,80,00 12,80,000
0
Jun 1 To Balance b/d 1,20,000

Capital A/c
Date Particulars J.F. Amount Date Particulars J.F. Amount

May 31 To Balance c/d 20,00,00 Apr 1 By Cash A/c 20,00,000


0
20,00,00 20,00,000
0
Jun 1 By Balance b/d 20,00,000
Drawings A/c
Date Particulars J.F. Amount Date Particulars J.F. Amount

Apr 23 To Cash A/c 4,000 May 31 By Balance c/d 11,000


Apr 25 To SBI A/c 5,000
May 11 To Purchase A/c 2,000
11,000 11,000
Jun 1 To Balance b/d 11,000

Provision for Bad & Doubtful Debts


Date Particulars J.F. Amount Date Particulars J.F. Amount

May 31 To Balance c/d 10,000 May 13 By Profit & Loss A/c 10,000
10,000 10,000
Jun 1 By Balance b/d 10,000

Provision for Discount on Debtors A/c


Date Particulars J.F. Amount Date Particulars J.F. Amount

May 31 To Balance c/d 5,000 May 14 By Profit & Loss A/c 5,000
5,000 5,000
Jun 1 By Balance b/d 5,000

Furniture A/c
Date Particulars J.F. Amount Date Particulars J.F. Amount

Apr 4 To SBI A/c 1,00,000 Apr 28 By Depreciation on Furniture A/c 10,000


May 7 To SBI A/c 50,000 May 31 By Balance c/d 1,40,000
1,50,000 1,50,000
Jun 1 To Balance b/d 1,40,000
Machinery A/c
Date Particulars J.F. Amount Date Particulars J.F. Amount

Apr 5 To Tarun’s A/c 1,50,000 Apr 30 By Depreciation on Machinery A/c 25,000


May 31 By Balance c/d 1,25,000
1,50,000 1,50,000
Jun 1 To Balance b/d 1,25,000
Land & Building A/c
Date Particulars J.F. Amount Date Particulars J.F. Amount

May 12 To PNB A/c 11,00,00 May 31 By Balance c/d 11,00,000


0
11,00,00 11,00,000
0
Computer A/c Jun 1 To Balance b/d 11,00,00
Date Particulars J.F. 0Amount Date Particulars J.F. Amount

May 20 To SBI A/c 25,000 May 31 By Balance c/d 25,000


25,000 25,000
Jun 1 To Balance b/d 25,000

Laptop A/c
Date Particulars J.F. Amount Date Particulars J.F. Amount

May 20 To SBI A/c 66,000 May 31 By Balance c/d 66,000


66,000 66,000
To Balance b/d 66,000

Reliance Infocomm A/c


Date Particulars J.F. Amount Date Particulars J.F. Amount

May 17 To SBI A/c 70,000 May 31 By Balance c/d 70,000


70,000 70,000
Jun 1 To Balance b/d 70,000
Union Bank A/c
Date Particulars J.F. Amount Date Particulars J.F. Amount

Apr 24 To Cash A/c 10,000 May 31 By Balance c/d 10,000


10,000 10,000
Jun 1 To Balance b/d 10,000

Aliganj Branch A/c


Date Particulars J.F. Amount Date Particulars J.F. Amount

May 31 To Balance c/d 10,000 May 18 By Transfer Inward A/c 10,000


10,000 10,000
Jun 1 By Balance b/d 10,000

Mahanagar Branch A/c


Date Particulars J.F. Amount Date Particulars J.F. Amount

May 19 To Transfer Outward 12,000 May 31 By Balance c/d 12,000


A/c
12,000 12,000
Jun 1 To Balance b/d 12,000
Sales A/c
Date Particulars J.F. Amount Date Particulars J.F. Amount

May 31 To Trading 3,20,000 Apr 7 By Jai’s A/c 2,00,000


A/c
Apr 13 By SBI A/c 1,00,000
By Naman’s A/c 20,000
3,20,000 3,20,000
Sales Return A/c
Date Particulars J.F. Amount Date Particulars J.F. Amount

To Jai’s A/c 10,000 By Trading A/c 10,000


10,000 10,000

Transfer Outward
Date Particulars J.F. Amount Date Particulars J.F. Amount

May 31 To Trading 12,000 May 19 By Mahanagar Branch 12,000


A/c
12,000 12,000

Purchase A/c
Date Particulars J.F. Amount Date Particulars J.F. Amount

Apr 6 To Harish’s A/c 50,000 May 11 By Drawings A/c 2,000


Apr 12 To Cash A/c 30,000 May 15 By Loss of Goods by Theft A/c 1,000
May 16 By Loss of Goods by Fire A/c 500
May 31 By Trading A/c 76,500
80,000 80,000
Purchase Return A/c
Date Particulars J.F. Amount Date Particulars J.F. Amount

May 31 To Trading 1,000 May 8 By Harish’s A/c 1,000


A/c
1,000 1,000

Transfer Inward A/c


Date Particulars J.F. Amount Date Particulars J.F. Amount

May 18 To Aliganj Branch 10,000 May 31 By Trading A/c 10,000


10,000 10,000

Carriage Inward A/c


Date Particulars J.F. Amount Date Particulars J.F. Amount

Apr 20 To Cash A/c 6,000 May 31 By Trading A/c 6,000


6,000 6,000

Wages A/c
Date Particulars J.F. Amount Date Particulars J.F. Amount

Apr 19 To Cash A/c 15000 May 30 By Trading A/c 15,000


15,000 15,000
Brokerage Received A/c
Date Particulars J.F. Amount Date Particulars J.F. Amount

May 31 To Profit & Loss 5,00,000 May 9 By PNB A/c 5,00,000


A/c
5,00,000 5,00,000
Commission
Received A/c
Date Particulars J.F. Amount Date Particulars J.F. Amount

May 31 To Profit & Loss 10,00,00 May 8 By PNB A/c 10,00,000


A/c 0
10,00,00 10,00,000
Discount 0
Received A/c
Date Particulars J.F. Amount Date Particulars J.F. Amount

May 31 To Profit & Loss 4,000 Apr 9 By Harish’s A/c 4,000


A/c
4,000 4,000

Interest Received A/c


Date Particulars J.F. Amount Date Particulars J.F. Amount

May 31 To Profit and Loss A/c 16,000 Apr 15 By Naman’s A/c 1,000
May 5 By Rajesh’s A/c 15,000
16,000 16,000
Carriage Outward A/c
Date Particulars J.F. Amount Date Particulars J.F. Amount

Apr 21 To Cash A/c 7,500 May 31 By Profit and Loss A/c 7,500
7,500 7,500
Depreciation
on Furniture A/c
Date Particulars J.F. Amount Date Particulars J.F. Amount

Apr 28 To Furniture A/c 10,000 May 31 By Profit and Loss A/c 10,000
10,000 10,000

Depreciation on Machinery A/c


Date Particulars J.F. Amount Date Particulars J.F. Amount

Apr 30 To Machinery A/c 25,000 May 31 By Profit and Loss A/c 25,000
25,000 25,000

Discount Allowed A/c


Date Particulars J.F. Amount Date Particulars J.F. Amount

Apr 11 To Jai’s A/c 10,000 May 31 By Profit and Loss A/c 10,000
10,000 10,000
Interest Paid A/c
Date Particulars J.F. Amount Date Particulars J.F. Amount

Apr 27 To SBI A/c 2,000 May 31 By Profit and Loss Account 12,000
May 2 To ICICI 10,000
12,000 12,000

Loss of Goods by Fire A/c


Date Particulars J.F. Amount Date Particulars J.F. Amount

May 16 To Purchase A/c 500 May 31 By Profit and Loss A/c 500
500 500

Loss of Goods by Theft A/c


Date Particulars J.F. Amount Date Particulars J.F. Amount

May 15 To Purchase A/c 1000 May 31 By Profit and Loss A/c 1000
1000 1000

Rent A/c
Date Particulars J.F. Amount Date Particulars J.F. Amount

Apr 18 To Cash A/c 7,000 May 31 By Profit and Loss A/c 7,000
7,000 7,000
Salary A/c
Date Particulars J.F. Amount Date Particulars J.F. Amount

Apr 17 To PNB 60,000 May 31 By Profit and Loss A/c 60,000


A/c
60,000 60,000

Traveling Expenses A/c


Date Particulars J.F. Amount Date Particulars J.F. Amount

Apr 26 To SBI A/c 20,000 May 31 By Profit and Loss A/c 20,000
20,000 20,000

Harish’s A/c
Date Particulars J.F. Amount Date Particulars J.F. Amount

Apr 8 To Purchase Return A/c 1,000 Apr 6 By Purchase A/c 50,000


Apr 9 To Cash A/c 45,000
Apr 9 To Discount Received A/c 4,000
50,000 50,000
ICICI A/c
Date Particulars J.F. Amount Date Particulars J.F. Amount

May 3 To SBI A/c 1,10,000 May 1 By SBI A/c 1,00,000


May 2 By Interest Paid A/c 10,000
1,10,000 1,10,000

Jai’s A/c
Date Particulars J.F. Amount Date Particulars J.F. Amount

Apr 7 To Sales A/c 2,00,000 Apr 10 By Sales Return A/c 10,000


Apr 11 By PNB A/c 1,80,000
Apr 11 By Discount Allowed A/c 10,000
2,00,000 2,00,000
Naman’s A/c
Date Particulars J.F. Amount Date Particulars J.F. Amount

Apr 14 To Sales A/c 20,000 Apr 16 By Cash A/c 21,000


Apr 15 To Interest Received A/c 1,000
21,000 21,000

Rajesh’s A/c
Date Particulars J.F. Amount Date Particulars J.F. Amount

May 4 To SBI A/c 1,50,000 May 6 By SBI A/c 1,65,000


May 5 To Interest Received A/c 15,000
1,65,000 1,65,000

Tarun’s A/c
Date Particulars J.F. Amount Date Particulars J.F. Amount

Apr 29 To SBI A/c 1,50,000 Apr 5 By Machinery A/c 1,50,000


1,50,000 1,50,000
Trial Balance
Of Pravah’s Business as on 31st May, 2009
Particulars Debit Credit
Cash A/c 3,06,500
16,07,00
SBI A/c
0
PNB A/c 1,20,000
Capital A/c 20,00,000
Drawings A/c 11,000
Provision for Bad & Doubtful Debts A/c 10,000
Provision for Discount on Debtors A/c 5,000
Furniture A/c 1,40,000
Machinery A/c 1,25,000
11,00,00
Land & Building A/c
0
Computer A/c 25,000
Laptop A/c 66,000
Reliance Infocomm A/c 70,000
Union Bank A/c 10,000
Aliganj Branch A/c 10,000
Mahanagar Branch A/c 12,000
Sales A/c 3,20,000
Sales Return A/c 10,000
Transfer Outward A/c 12,000
Purchase A/c 76,500
Purchase Return A/c 1,000
Transfer Inward A/c 10,000
Carriage Inward A/c 6,000
Wages A/c 15,000
Brokerage Received A/c 5,00,000
Commission Received A/c 10,00,000
Discount Received A/c 4,000
Interest Received A/c 16,000
Carriage Outward A/c 7,500
Depreciation on Furniture A/c 10,000
Depreciation on Machinery A/c 25,000
Discount Allowed A/c 10,000
Interest Paid A/c 12,000
Loss of goods by fire A/c 500
Loss of goods by theft A/c 1,000
Rent A/c 7,000
Salary A/c 60,000
Traveling Expenses A/c 20,000
Profit & Loss A/c 15,000
38,78,00
38,78,000
0