100 Journal Entries 69161b
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100 Journal entries
Sl . no
Transaction
Journal entry
Group
Sub group
Dr. Amt.
Cr. Amt
Cash
100000
100000
Capital Related entries 1
2
3 4
5 6
7
Partnership company Mr. A introduce capital Rs. 100000/-
Cash-Dr To A’S capital
Current Assets Capital
Proprtiorship company Introduce Capital for Business Rs. 50000/-
Cash –Dr To Capital
Current Assets Capital
Cash
50000
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
SBI bank-Dr To Equity share capital
Current Assets Capital
Bank
1000000
100000 0
SBI Bank- Dr To share Application money
Current Assets Capital
Bank
100000
100000
Interest on capital –Dr To Capital Dividend –Dr To Dividend equalization reserve
Indirect Exp Capital Indirect Exp Capital
5000
5000
400000
400000
SBI –Dr To Call money
Current assets Capital
Bank
100000
10000
Dividend equalization reserve-Dr
Capital
400000
400000
To SBI
Current Assets
Reserve & Surplus Bank
Share application money- Dr Call money – Dr To equity share Capital
Capital Capital Capital
100000 100000
200000
20000 equity shares issued to shares holders
Reserve & surplus
Cash & Bank Related entries 8
Open a current in UBI by depositing Cash Rs. 50000/-
UBI-Dr To Cash
Current Assets Current Assets
Bank Cash
50000
50000
9
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 Rs. 2000
UBI –Dr To SBI Cash – Dr To SBI Petty Cash- Dr To Cash
Current Current Current Current Current Current
Assets assets Assets Assets Assets assets
Bank Bank Bank Cash Cash Cash
20000
20000
10000
10000
2000
2000
Cash deposited to SBI bank Rs. 5000
SBI- Dr To cash
Current assets Current assets
Bank Cash
5000
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
Furniture & Fixture- Dr To cash
Fixed assets Current Assets
35000
35000
Cash
Furniture & Fixture-Dr To cash
Fixed assets Current Assets
10000
10000
Cash
Computer & assoceries -Dr To SBI
Fixed assets Current assets
Bank
25000
25000
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
Motor Car- Dr To SBI Land-Dr To SBI
Fixed Assets Current Assets Fixed Assets Current assets
250000
250000
105000
105000
Patent-Dr To SBI
Fixed assets Current Assets
20000
20000
Bank
Computer & Assoceries- Dr To HP associates
Fixed assets Current Lib.
S/creditors
5000
5000
Office equipment-Dr
Fixed assets
75000
75000
10 11 12
Fixed Assets 13
14 15 16 17
18 19 20
Bank Bank
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
Current assets
Bank
Computer & assoceries- Dr To SBI
Fixed assets Current assets
Bank
Building Dr To SBI
Fixed assets Current Assets
Bank
Machinery-Dr Installation charges –Dr To SBI
Fixed assets Fixed assets Current assets
Bank
Office Equipment- Dr To SBI
Fixed Assets Current assets
Bank
3500
3500
150000
150000
25000 1000 26000 15000
15000
250
250
20000
20000
1000
1000
150
150
500
500
2500
2500
500
500
Expense Related Entry 25
Postage & courier charges paid Rs. 250/- from Petty cash
Postage & courier- Dr To Petty cash
Indirect Exp. Current Assets
Cash
26
Rent paid for office Rs. 20000/from cash
Office Rent-Dr To cash
Indirect exp Current Assets
Cash
27
Car hire charges paid for visit of client Rs. 1000/- for Sales manger
Traveling Exp-Dr To cash
Indirect Exp Current Assets
Cash
28
Local Conveyance paid to employee Rs. 150/- from petty cash
Conveyance –Dr To Petty Cash
Indirect exp Current Assets
Cash
29
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)
Internet Charges-Dr To cash Repair & Maintenance-Dr To cash
Indirect exp Current Assets Indirect exp. Current Assets
General charges –Dr To Petty cash
Indirect. Exp Current assets
30 31
Cash Cash Cash
32
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
Bank charges –Dr To SBI Municipal Tax-Dr To Cash Donation-Dr To Cash
Indirect Exp Current Assets Indirect Exp Current Assets Indirect Exp Current Assets
Wages A/c-Dr To Cash Repairing charges-Dr To SBI
Direct Exp Current Assets Indirect exp Current Assets
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
Royalty-Dr To SBI
Direct Exp Current assets
Commission –Dr To Cash Bonus –Dr To SBI
Indirect exp Current Assets Indirect exp. Current Assets
40
Leave salary paid Rs. 5000 from cash
Leave salary-Dr To Cash
Indirect exp Current assets
41
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
Printing & Stationery –Dr To Cash Staff welfare-Dr To Cash Training Cost-Dr To Cash
Indirect exp Current assets Indirect Exp Current assets Indirect Exp Current assets
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
Tour Expense – Dr To Cash Traveling Exp-Dr To Cash
Indirect Exp Current assets Indirect Exp Current Assets
Telephone charges –Dr To Cash Incentive & Prizes- Dr To cash
Indirect exp Current assets Indirect exp Current Assets
33 34 35 36 37 38 39
42 43 44 45 46 47
Bank Cash Cash
300
300
2500
2500
500
500
4000
4000
2500
2500
25000
25000
4000
4000
5000
5000
5000
5000
50
50
600
600
2000
2000
2000
2000
1000
1000
2000
2000
2000
2000
Cash Bank Bank Cash Bank Cash cash Cash Cash Cash Cash Cash Cash
48 49 50 51 52
53 54 55 56 57 58 59 60
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
News paper & journals – Dr To Petty cash
Indirect exp Current assets
Cash
Legal charges- Dr To cash
Indirect exp Current assets
Cash
Telephone charges – Dr To Cash Postage & Courrier –Dr To cash Salary- Dr To PF To P.tax ToTDS To Cash
Indirect exp Current Assets Indirect exp Current assets Indirect exp Current Lib Current lib Current Lib Current assets
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
Electricity- Dr To cash Repair & maintenance –Dr To cash
Indirect exp Current assets Indirect Exp. Current Assets
Printing & Stationery –Dr To Cash
Indirect Exp Current assets
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
Bank charges –Dr To SBI ment –Dr To cash
Indirect Expense Current assets Indirect exp Current assets
Printing & Stationery- Dr To Petty Cash
Indirect exp Current assets
Cash
General charges –Dr To Cash
Indirect Exp Current assets
Cash
ment-Dr To Cash
Indirect exp Current assets
Cash
Investment
250
250
3000
3000
2000
2000
400
400
Cash Cash 15000 600 200 1000 13200
Cash 2000
2000
3000
3000
300
300
200
200
4000
4000
200
200
2000
2000
200
200
Cash Cash Cash Bank Cash
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
20000
5000
5000
30000
30000
Bank Cash Bank Bank
350000 500
30000 5000 500
Income / Receivable entries 66
Commission Received from the party Rs. 4000 in cash
Cash-Dr To Commission
Current Assets Indirect Income
Cash
4000
4000
67
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
SBI bank-Dr To Interest SBI-Dr To rent
Current assets Indirect income Current assets Indirect Income
Bank
300
300
Bank
5000
5000
Rent Receivable from Pranab –Dr To rent Cash –Dr To Miscellaneous Income
Current assets Indirect Income Current assets Indirect Income
15000
15000
Cash
500
500
Current assets Current assets Indirect exp Current assets
Advances Cash
5000
5000
Current assets Current assets Indirect exp Current assets Current assets
Advances Bank
68 69 70 71
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
Cash
Advances Bank
4500 500 5000 15000
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/-
MTNL deposit –Dr To SBI
Current assets Current assets
Deposit
Advance Rent –Dr To SBI
Current assets Current assets
Advances Bank
50000
50000
Loans to Sister concern- Dr To SBI Interest receivable-Dr To Interest
Current assets Current assets Current assets Indirect Income
Loans Bank Loans
100000
100000
5000
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
Cash-Dr To Loan from Sister Concern
Current assets Current assets
Cash Loans
10000
10000
Advance Tax-Dr To SBI Rental Deposit-Dr To SBI
Current Current Current Current
Advance Bank Deposit Bank
10000
10000
50000
50000
assets assets assets assets
5000 5000
TDS- Payable/Receivable & their Set of 83 84
85
86
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 ment 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
Labour charges –Dr To TDS Payable Top SBI TDS payable –Dr To SBI
Direct Expense Current Lib Current assets Current Lib Current assets
SBI –Dr TDS Receivable –Dr To ment contract
Current assets Current assets Indirect income
Professional charges –Dr To TDS payable To Cash
Indirect exp Current Lib Current assets
Payable Cash
Current Assets
Bank
Payable Bank Payable Bank Bank Deposit
6000 60
29700 300
5000
60 5940 60
30000
250 4750
Current Liabilities/Provision /Expense payable/Loans 87
Loan taken from parties Rs.
SBI-Dr
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
Current Lib
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
Indirect Exp Current . Lib Indirect exp Current Lib Indirect exp Current lib Indirect Exp Current Lib
Exp. payable 1000
1000
5000
5000
25000
25000
10000
10000
Exp. Payable Exp. Payable Exp Payable Provision
Purchase/ Sales & Taxes , their Set off 92
93
94 95 96
97
98
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
2000
5000 800 200 2000
20000
20000
24000
10000 1600 400 12000
3200 800 20000 12000
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
Sl . no
Transaction
Journal entry
Group
Sub group
Dr. Amt.
Cr. Amt
Cash
100000
100000
Capital Related entries 1
2
3 4
5 6
7
Partnership company Mr. A introduce capital Rs. 100000/-
Cash-Dr To A’S capital
Current Assets Capital
Proprtiorship company Introduce Capital for Business Rs. 50000/-
Cash –Dr To Capital
Current Assets Capital
Cash
50000
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
SBI bank-Dr To Equity share capital
Current Assets Capital
Bank
1000000
100000 0
SBI Bank- Dr To share Application money
Current Assets Capital
Bank
100000
100000
Interest on capital –Dr To Capital Dividend –Dr To Dividend equalization reserve
Indirect Exp Capital Indirect Exp Capital
5000
5000
400000
400000
SBI –Dr To Call money
Current assets Capital
Bank
100000
10000
Dividend equalization reserve-Dr
Capital
400000
400000
To SBI
Current Assets
Reserve & Surplus Bank
Share application money- Dr Call money – Dr To equity share Capital
Capital Capital Capital
100000 100000
200000
20000 equity shares issued to shares holders
Reserve & surplus
Cash & Bank Related entries 8
Open a current in UBI by depositing Cash Rs. 50000/-
UBI-Dr To Cash
Current Assets Current Assets
Bank Cash
50000
50000
9
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 Rs. 2000
UBI –Dr To SBI Cash – Dr To SBI Petty Cash- Dr To Cash
Current Current Current Current Current Current
Assets assets Assets Assets Assets assets
Bank Bank Bank Cash Cash Cash
20000
20000
10000
10000
2000
2000
Cash deposited to SBI bank Rs. 5000
SBI- Dr To cash
Current assets Current assets
Bank Cash
5000
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
Furniture & Fixture- Dr To cash
Fixed assets Current Assets
35000
35000
Cash
Furniture & Fixture-Dr To cash
Fixed assets Current Assets
10000
10000
Cash
Computer & assoceries -Dr To SBI
Fixed assets Current assets
Bank
25000
25000
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
Motor Car- Dr To SBI Land-Dr To SBI
Fixed Assets Current Assets Fixed Assets Current assets
250000
250000
105000
105000
Patent-Dr To SBI
Fixed assets Current Assets
20000
20000
Bank
Computer & Assoceries- Dr To HP associates
Fixed assets Current Lib.
S/creditors
5000
5000
Office equipment-Dr
Fixed assets
75000
75000
10 11 12
Fixed Assets 13
14 15 16 17
18 19 20
Bank Bank
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
Current assets
Bank
Computer & assoceries- Dr To SBI
Fixed assets Current assets
Bank
Building Dr To SBI
Fixed assets Current Assets
Bank
Machinery-Dr Installation charges –Dr To SBI
Fixed assets Fixed assets Current assets
Bank
Office Equipment- Dr To SBI
Fixed Assets Current assets
Bank
3500
3500
150000
150000
25000 1000 26000 15000
15000
250
250
20000
20000
1000
1000
150
150
500
500
2500
2500
500
500
Expense Related Entry 25
Postage & courier charges paid Rs. 250/- from Petty cash
Postage & courier- Dr To Petty cash
Indirect Exp. Current Assets
Cash
26
Rent paid for office Rs. 20000/from cash
Office Rent-Dr To cash
Indirect exp Current Assets
Cash
27
Car hire charges paid for visit of client Rs. 1000/- for Sales manger
Traveling Exp-Dr To cash
Indirect Exp Current Assets
Cash
28
Local Conveyance paid to employee Rs. 150/- from petty cash
Conveyance –Dr To Petty Cash
Indirect exp Current Assets
Cash
29
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)
Internet Charges-Dr To cash Repair & Maintenance-Dr To cash
Indirect exp Current Assets Indirect exp. Current Assets
General charges –Dr To Petty cash
Indirect. Exp Current assets
30 31
Cash Cash Cash
32
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
Bank charges –Dr To SBI Municipal Tax-Dr To Cash Donation-Dr To Cash
Indirect Exp Current Assets Indirect Exp Current Assets Indirect Exp Current Assets
Wages A/c-Dr To Cash Repairing charges-Dr To SBI
Direct Exp Current Assets Indirect exp Current Assets
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
Royalty-Dr To SBI
Direct Exp Current assets
Commission –Dr To Cash Bonus –Dr To SBI
Indirect exp Current Assets Indirect exp. Current Assets
40
Leave salary paid Rs. 5000 from cash
Leave salary-Dr To Cash
Indirect exp Current assets
41
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
Printing & Stationery –Dr To Cash Staff welfare-Dr To Cash Training Cost-Dr To Cash
Indirect exp Current assets Indirect Exp Current assets Indirect Exp Current assets
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
Tour Expense – Dr To Cash Traveling Exp-Dr To Cash
Indirect Exp Current assets Indirect Exp Current Assets
Telephone charges –Dr To Cash Incentive & Prizes- Dr To cash
Indirect exp Current assets Indirect exp Current Assets
33 34 35 36 37 38 39
42 43 44 45 46 47
Bank Cash Cash
300
300
2500
2500
500
500
4000
4000
2500
2500
25000
25000
4000
4000
5000
5000
5000
5000
50
50
600
600
2000
2000
2000
2000
1000
1000
2000
2000
2000
2000
Cash Bank Bank Cash Bank Cash cash Cash Cash Cash Cash Cash Cash
48 49 50 51 52
53 54 55 56 57 58 59 60
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
News paper & journals – Dr To Petty cash
Indirect exp Current assets
Cash
Legal charges- Dr To cash
Indirect exp Current assets
Cash
Telephone charges – Dr To Cash Postage & Courrier –Dr To cash Salary- Dr To PF To P.tax ToTDS To Cash
Indirect exp Current Assets Indirect exp Current assets Indirect exp Current Lib Current lib Current Lib Current assets
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
Electricity- Dr To cash Repair & maintenance –Dr To cash
Indirect exp Current assets Indirect Exp. Current Assets
Printing & Stationery –Dr To Cash
Indirect Exp Current assets
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
Bank charges –Dr To SBI ment –Dr To cash
Indirect Expense Current assets Indirect exp Current assets
Printing & Stationery- Dr To Petty Cash
Indirect exp Current assets
Cash
General charges –Dr To Cash
Indirect Exp Current assets
Cash
ment-Dr To Cash
Indirect exp Current assets
Cash
Investment
250
250
3000
3000
2000
2000
400
400
Cash Cash 15000 600 200 1000 13200
Cash 2000
2000
3000
3000
300
300
200
200
4000
4000
200
200
2000
2000
200
200
Cash Cash Cash Bank Cash
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
20000
5000
5000
30000
30000
Bank Cash Bank Bank
350000 500
30000 5000 500
Income / Receivable entries 66
Commission Received from the party Rs. 4000 in cash
Cash-Dr To Commission
Current Assets Indirect Income
Cash
4000
4000
67
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
SBI bank-Dr To Interest SBI-Dr To rent
Current assets Indirect income Current assets Indirect Income
Bank
300
300
Bank
5000
5000
Rent Receivable from Pranab –Dr To rent Cash –Dr To Miscellaneous Income
Current assets Indirect Income Current assets Indirect Income
15000
15000
Cash
500
500
Current assets Current assets Indirect exp Current assets
Advances Cash
5000
5000
Current assets Current assets Indirect exp Current assets Current assets
Advances Bank
68 69 70 71
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
Cash
Advances Bank
4500 500 5000 15000
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/-
MTNL deposit –Dr To SBI
Current assets Current assets
Deposit
Advance Rent –Dr To SBI
Current assets Current assets
Advances Bank
50000
50000
Loans to Sister concern- Dr To SBI Interest receivable-Dr To Interest
Current assets Current assets Current assets Indirect Income
Loans Bank Loans
100000
100000
5000
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
Cash-Dr To Loan from Sister Concern
Current assets Current assets
Cash Loans
10000
10000
Advance Tax-Dr To SBI Rental Deposit-Dr To SBI
Current Current Current Current
Advance Bank Deposit Bank
10000
10000
50000
50000
assets assets assets assets
5000 5000
TDS- Payable/Receivable & their Set of 83 84
85
86
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 ment 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
Labour charges –Dr To TDS Payable Top SBI TDS payable –Dr To SBI
Direct Expense Current Lib Current assets Current Lib Current assets
SBI –Dr TDS Receivable –Dr To ment contract
Current assets Current assets Indirect income
Professional charges –Dr To TDS payable To Cash
Indirect exp Current Lib Current assets
Payable Cash
Current Assets
Bank
Payable Bank Payable Bank Bank Deposit
6000 60
29700 300
5000
60 5940 60
30000
250 4750
Current Liabilities/Provision /Expense payable/Loans 87
Loan taken from parties Rs.
SBI-Dr
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
Current Lib
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
Indirect Exp Current . Lib Indirect exp Current Lib Indirect exp Current lib Indirect Exp Current Lib
Exp. payable 1000
1000
5000
5000
25000
25000
10000
10000
Exp. Payable Exp. Payable Exp Payable Provision
Purchase/ Sales & Taxes , their Set off 92
93
94 95 96
97
98
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
2000
5000 800 200 2000
20000
20000
24000
10000 1600 400 12000
3200 800 20000 12000
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
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