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Journal Entries With Examples

The document outlines basic accounting journal entries for various transactions, including capital introduction, cash and credit purchases, sales, returns, and payments. It also includes rules of accounting for personal, real, and nominal accounts. Each transaction is presented with corresponding debit and credit entries to illustrate proper accounting practices.

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mdmaherabhossain2
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13 views2 pages

Journal Entries With Examples

The document outlines basic accounting journal entries for various transactions, including capital introduction, cash and credit purchases, sales, returns, and payments. It also includes rules of accounting for personal, real, and nominal accounts. Each transaction is presented with corresponding debit and credit entries to illustrate proper accounting practices.

Uploaded by

mdmaherabhossain2
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Basic Accounting Journal Entries with Transactions

1. Capital Introduction
Transaction: Owner started business with ■50,000 cash
Cash A/C Dr 50,000
To Capital A/C 50,000

2. Cash Purchase
Transaction: Bought goods for cash ■10,000
Purchases A/C Dr 10,000
To Cash A/C 10,000

3. Credit Purchase
Transaction: Bought goods on credit from Rahim ■8,000
Purchases A/C Dr 8,000
To Rahim A/C 8,000

4. Cash Sales
Transaction: Sold goods for cash ■12,000
Cash A/C Dr 12,000
To Sales A/C 12,000

5. Credit Sales
Transaction: Sold goods on credit to Karim ■7,000
Karim A/C Dr 7,000
To Sales A/C 7,000

6. Purchase Return
Transaction: Returned goods to Rahim ■2,000
Rahim A/C Dr 2,000
To Purchase Return A/C 2,000

7. Sales Return
Transaction: Karim returned goods ■1,000
Sales Return A/C Dr 1,000
To Karim A/C 1,000

8. Cash Received from Debtor


Transaction: Received ■5,000 from Karim
Cash A/C Dr 5,000
To Karim A/C 5,000

9. Cash Paid to Creditor


Transaction: Paid Rahim ■6,000
Rahim A/C Dr 6,000
To Cash A/C 6,000

10. Expenses Paid


Transaction: Paid rent ■3,000
Rent A/C Dr 3,000
To Cash A/C 3,000

11. Income Received


Transaction: Received commission ■2,000
Cash A/C Dr 2,000
To Commission A/C 2,000

12. Drawings
Transaction: Owner withdrew ■4,000
Drawings A/C Dr 4,000
To Cash A/C 4,000
13. Asset Purchase (Cash)
Transaction: Bought furniture ■15,000 cash
Furniture A/C Dr 15,000
To Cash A/C 15,000

14. Asset Purchase (Credit)


Transaction: Bought equipment from Sumon ■20,000
Equipment A/C Dr 20,000
To Sumon A/C 20,000

15. Depreciation
Transaction: Depreciation on furniture ■1,000
Depreciation A/C Dr 1,000
To Furniture A/C 1,000

16. Bad Debts


Transaction: Karim unable to pay ■500
Bad Debts A/C Dr 500
To Karim A/C 500

17. Discount Allowed


Transaction: Allowed discount ■200 to Karim
Discount Allowed A/C Dr 200
To Karim A/C 200

18. Discount Received


Transaction: Received discount ■300 from Rahim
Rahim A/C Dr 300
To Discount Received A/C 300

Golden Rules of Accounting

1. Personal Account: Debit the receiver, Credit the giver


2. Real Account: Debit what comes in, Credit what goes out
3. Nominal Account: Debit expenses & losses, Credit income & gains

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