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Managers Introduction
Raghavendra
M.B.A, M.Phil., P.G.D.I.T, (Ph.D)
MITE
Journal
Derived
Journal
Classification of Accounts
Personal
Accounts
Real Accounts
Nominal Accounts
Personal Account
Names
DEBIT
THE RECEIVER
CREDIT THE GIVER
Real Account
Assets
and Liabilities
DEBIT
WHAT COMES IN
CREDIT WHAT GOES OUT
Nominal Accounts
Accounts
incomes
DEBIT
Steps in Journalising
Identify
Points to be considered
of Varshitha:
2009 April 1: Opening balance: Cash Rs. 8,000 Bank Rs.3000
April 3 : Purchased goods and paid by cheque Rs.1000
April 4 : Cash sales Rs.500
April 5: Deposited Rs.300 into bank
April 6: Received from Kalinga Rs.400, in settlement of his account
balance of Rs.410
April 12: Withdrawn Rs.550
April 15: Paid Kanchana Rs.1000 by cheque in settlement of her
account, discount allowed by her Rs.10
20: Cheque received from Kashyap Rs.525. This cheque was endorsed
to Kadambari the next day
23: Received from Kinara Rs.300 on account, discount allowed Rs.8
29: A cheque of Rs.400 was received from Keerthan in settlement of
his account balance of Rs.410. This cheque was deposited into bank
the same day.
30: It was found that Keerthans cheque was dishonoured. Bank
charges Rs.50
30: Bank credited our account with Rs.300 as interest.