100 Journal entries

Sl . no Transaction Journal entry Group Sub group Dr. Amt. Cr. Amt
Capital Related entries
1 Partnership company Cash 100000 100000
Mr. A introduce capital Rs. 100000/- Cash-Dr Current Assets
To A’S capital Capital
Proprtiorship company
Introduce Capital for Business Rs. 50000/- Cash –Dr Current Assets Cash 50000 50000
To Capital Capital
For Company
Issued 100000 equity share @ Rs. 10/- each
and the said amount deposited to SBI SBI bank-Dr
bank To Equity share capital Current Assets Bank 1000000 1000000
Capital
2 Application money Received for 20000/- SBI Bank- Dr Current Assets Bank 100000 100000
shares @ Rs. 5/- each and the said amount To share Application money Capital
deposited to SBI
3 Interest charges on Capital @ 5% for Mr. Interest on capital –Dr Indirect Exp 5000 5000
A To Capital Capital
4 Dividend 4% declared by the company Dividend –Dr Indirect Exp 400000 400000
on the face value of the share @ Rs. 10/- To Dividend equalization reserve Capital Reserve &
each for 100000 equity shares surplus
5 Call money received for 20000 shares @ SBI –Dr Current assets Bank 100000 10000
Rs. 5/- per share and the said amount To Call money Capital
deposited to SBI
6 Dividend paid to share holders from SBI Dividend equalization reserve-Dr Capital Reserve & 400000 400000
bank Surplus
To SBI Current Assets Bank

7 20000 equity shares issued to shares Share application money- Dr Capital 100000 200000
holders Call money – Dr Capital 100000
To equity share Capital Capital
Cash & Bank Related entries
8 Open a current account in UBI by UBI-Dr Current Assets Bank 50000 50000
depositing Cash Rs. 50000/- To Cash Current Assets Cash

9 Amount transfer Rs. 20000/- from SBI to UBI –Dr Current Assets Bank 20000 20000
UBI Bank a/c To SBI Current assets Bank
10 Cash with drawl from SBI Bank Rs. Cash – Dr Current Assets Bank 10000 10000
10000/- for official use To SBI Current Assets Cash
11 Cash Transfer to Petty cash account Rs. Petty Cash- Dr Current Assets Cash 2000 2000
2000 To Cash Current assets Cash

12 Cash deposited to SBI bank Rs. 5000 SBI- Dr Current assets Bank 5000 5000
To cash Current assets Cash
Fixed Assets
13 For Interior of office he paid Rs. 35000/- Furniture & Fixture- Dr Fixed assets 35000 35000
to carpenter towards coast of material & To cash Current Assets Cash
labour charges
14 Purchase office furniture of Rs. 10000/- Furniture & Fixture-Dr Fixed assets 10000 10000
By paying cash To cash Current Assets Cash
15 Purchase computer for office Rs. 25000/- Computer & assoceries -Dr Fixed assets 25000 25000
by paying from SBI To SBI Current assets Bank

16 Purchase a new car Rs 250000/- from SBI Motor Car- Dr Fixed Assets 250000 250000
To SBI Current Assets Bank
17 Land Purchase worth Rs. 100000 and Land-Dr Fixed Assets 105000 105000
registration charges Rs. 5000 paid there To SBI Current assets Bank
on from SBI Bank
18 Take new patent right for a product by Patent-Dr Fixed assets 20000 20000
paying from SBI worth Rs. 20000/- To SBI Current Assets Bank
19 Purchase one HP DeskJet Printer from Computer & Assoceries- Dr Fixed assets 5000 5000
HP associates worth Rs. 5000/- To HP associates Current Lib. S/creditors
20 Purchase a Xerox machine worth Rs. Office equipment-Dr Fixed assets 75000 75000
75000/- from Modi Xerox and issued To SBI Current assets Bank
them cheque immediately from SBI
21 Windows software purchase from Computer & assoceries- Dr Fixed assets 3500 3500
Microsoft by paying a cheque of Rs. To SBI Current assets Bank
3500/- from SBI
22 For expansion of building Rs. 150000 Building Dr Fixed assets 150000 150000
paid to contractors from SBI bank To SBI Current Assets Bank
23 Purchase a new machinery worth Rs. Machinery-Dr Fixed assets 25000
25000 and installation charge Rs. 1000/- Installation charges –Dr Fixed assets 1000
has been paid from SBI bank To SBI Current assets Bank 26000
24 Purchase mobile for office Use worth Rs. Office Equipment- Dr Fixed Assets 15000 15000
15000 from SBI bank To SBI Current assets Bank

Expense Related Entry

25 Postage & courier charges paid Rs. 250/- Postage & courier- Dr Indirect Exp. 250 250
from Petty cash To Petty cash Current Assets Cash

26 Rent paid for office Rs. 20000/- from cash Office Rent-Dr Indirect exp 20000 20000
To cash Current Assets Cash

27 Car hire charges paid for visit of client Traveling Exp-Dr Indirect Exp 1000 1000
Rs. 1000/- for Sales manger To cash Current Assets Cash

28 Local Conveyance paid to employee Rs. Conveyance –Dr Indirect exp 150 150
150/- from petty cash To Petty Cash Current Assets Cash

29 Internet charges Rs. 500 paid from cash Internet Charges-Dr Indirect exp 500 500
to Air Tel To cash Current Assets Cash
30 Paid Rs. 2500/- for Repair work of Repair & Maintenance-Dr Indirect exp. 2500 2500
electrical equipments from cash To cash Current Assets Cash
31 Rs. 500 paid form petty cash for General charges –Dr Indirect. Exp 500 500
purchase of daily use material (phynial, To Petty cash Current assets Cash
soap, duster etc)

32 Bank debited bank charges as per SBI Bank charges –Dr Indirect Exp 300 300
statement Rs. 300/- To SBI Current Assets Bank
33 Municipal tax paid Rs. 2500 from cash Municipal Tax-Dr Indirect Exp 2500 2500
To Cash Current Assets Cash
34 Donation paid to Charitable Donation-Dr Indirect Exp 500 500
 organization Rs. 500 /- from cash To Cash Current Assets Cash
35 Wages paid to factory worker Rs. 4000/- Wages A/c-Dr Direct Exp 4000 4000
from cash To Cash Current Assets Cash
36 Repairing charges for Car Paid Rs. 2500/- Repairing charges-Dr Indirect exp 2500 2500
from SBI bank To SBI Current Assets Bank

37 Royalty paid for production of new Royalty-Dr Direct Exp 25000 25000
material Rs. 25000 from SBI bank To SBI Current assets Bank
38 Commission paid on sales Rs. 4000 from Commission –Dr Indirect exp 4000 4000
cash To Cash Current Assets Cash
39 Bonus paid to employee Rs. 5000 from Bonus –Dr Indirect exp. 5000 5000
SBI bank To SBI Current Assets Bank

40 Leave salary paid Rs. 5000 from cash Leave salary-Dr Indirect exp 5000 5000
To Cash Current assets Cash

41 Xerox charges paid Rs. 50 from petty cash Printing & Stationery –Dr Indirect exp 50 50
To Cash Current assets cash
42 Lunch coupon provided to employee Rs. Staff welfare-Dr Indirect Exp 600 600
600 from cash To Cash Current assets Cash
43 Training cost paid to instructor Rs. 2000/- Training Cost-Dr Indirect Exp 2000 2000
from cash To Cash Current assets Cash

44 Hotel rent paid for employee Rs. 2000/- Tour Expense – Dr Indirect Exp 2000 2000
from cash for official tour To Cash Current assets Cash
45 Traveling Exp. reimburse to employee Traveling Exp-Dr Indirect Exp 1000 1000
Rs. 1000/- from cash for official tour To Cash Current Assets Cash
46 Telephone charges paid Rs. 2000/- from Telephone charges –Dr Indirect exp 2000 2000
cash To Cash Current assets Cash
47 Incentive paid to sales manager Rs. 2000/- Incentive & Prizes- Dr Indirect exp 2000 2000
from cash To cash Current Assets Cash
48 Rs. 250/- paid for purchase of news paper News paper & journals – Dr Indirect exp 250 250
& journals from Petty cash To Petty cash Current assets Cash
49 Legal charges paid to advocate for Legal charges- Dr Indirect exp 3000 3000
Income Tax matter Rs. 3000/- from cash To cash Current assets Cash
50 Mobile bill for directors paid Rs. 2000/- Telephone charges – Dr Indirect exp 2000 2000
from cash To Cash Current Assets Cash
51 Courier charges Paid Rs. 400 from cash Postage & Courrier –Dr Indirect exp 400 400
 To cash Current assets Cash
52 Salary paid to staff Rs. 15000/- after Salary- Dr Indirect exp 15000
deduction of PF Rs. 600/- & P.tax Rs. 200/- To PF Current Lib 600
& Tds Rs. 1000/- from cash To P.tax Current lib 200
ToTDS Current Lib 1000
To Cash Current assets Cash 13200

53 Electricity charges Paid Rs. 2000/- from Electricity- Dr Indirect exp 2000 2000
cash To cash Current assets Cash
54 Rs. 3000 paid to painter for coloring of Repair & maintenance –Dr Indirect Exp. 3000 3000
office premises from cah To cash Current Assets Cash
55 Rs. 300 paid for Refilling of Ink Printing & Stationery –Dr Indirect Exp 300 300
Cartridge of printer from cash To Cash Current assets Cash

56 Bank charges Rs. 200 against a dishonor Bank charges –Dr Indirect Expense 200 200
of cheque To SBI Current assets Bank
57 Rs. 4000 has been paid for installation of Advertisement –Dr Indirect exp 4000 4000
Glow sign board from cash To cash Current assets Cash
58 Rs. 200 spent for purchase of carbon Printing & Stationery- Dr Indirect exp 200 200
papers, ribbons, pens, ink etc from petty To Petty Cash Current assets Cash
cash
59 Rs. 2000/- paid to municipal staff for General charges –Dr Indirect Exp 2000 2000
putting banners on the road as bribe To Cash Current assets Cash
from cash
60 Rs. 200 paid as installation of banners Advertisement-Dr Indirect exp 200 200
from cash To Cash Current assets Cash
Investment
61 Bought mutual fund Rs. 20000/- from Sbi Investment A/c- Dr Investment 20000 20000
bank To SBI Current Assets Bank
62 NSC purchase worth Rs. 5000/- from NSC-Dr Investment 5000 5000
cash To Cash Current Assets Cash
63 Purchase Rel. Industries shares worth Rs. Investment –Dr Investment 30000 30000
30000/- from SBI bank To SBI Current Assets Bank
64 Rel. Industries shares sold at Rs 35000/- SBI-Dr Current Assets Bank 350000
and the said amount deposited into bank To Investment Investment 30000
To Profit on sale of Investment Indirect Income 5000
65 Interest accrued on NSC Rs. 500/- for this Accrued Interest-Dr Investment 500 500
 year To Interest on NSC Indirect Income

Income / Receivable entries

66 Commission Received from the party Cash-Dr Current Assets Cash 4000 4000
Rs. 4000 in cash To Commission Indirect Income

67 Interest Credited by SBI bank as per SBI bank-Dr Current assets Bank 300 300
statement Rs. 300 To Interest Indirect income
68 Rent received Rs. 5000/- by UTI cheque SBI-Dr Current assets Bank 5000 5000
from mr Rajan and the said amount To rent Indirect Income
deposited to SBI
69 Rent charge to Mr. Pranab Rs. 15000 Rent Receivable from Pranab –Dr Current assets 15000 15000
towards 3months rent To rent Indirect Income
70 Miscellaneous Income received Rs. 500 Cash –Dr Current assets Cash 500 500
in cash To Miscellaneous Income Indirect Income
71
Loans, Advances & Deposit Entries & their Set off
72 Tour Advance paid to Mr. Hari Rs. 5000 Tour advance –Dr Current assets Advances 5000 5000
from cash To cash Current assets Cash
73 Mr. Hari submitted the expense 4500 / Tour expense –Dr Indirect exp 4500
and rest of the amount returned back by Cash –Dr Current assets Cash 500
cash to cashier To Tour advance 5000
74 Advance salary paid to staff Rs. 5000/- Advance salary – Dr Current assets Advances 5000
from SBI bank To SBI Current assets Bank 5000
75 Salary paid to Staff Rs. 15000/- after Salary –Dr Indirect exp 15000
adjustment of Advance from SBI Bank To Advance salary Current assets Advances 5000
To SBI Current assets Bank 10000

76 Telephone Deposit paid Rs. 5000/- to MTNL deposit –Dr Current assets Deposit 5000
MTNL for connection of New phone To SBI Current assets 5000
from SBI bank
77 Advance Rent of Rs. 50000/- for Office , Advance Rent –Dr Current assets Advances 50000 50000
6 months paid to land lord from SBI To SBI Current assets Bank
78 Loan given to sister concern Rs. Loans to Sister concern- Dr Current assets Loans 100000 100000
100000/- from SBI bank To SBI Current assets Bank
79 Interest charge on the above loan is Rs. Interest receivable-Dr Current assets Loans 5000 5000
5000/- To Interest Indirect Income
80 Rs. 10000/- has been received from sister Cash-Dr Current assets Cash 10000 10000
concern against repayment of loan in To Loan from Sister Concern Current assets Loans
cash
81 Advance Tax Paid for this year Rs. Advance Tax-Dr Current assets Advance 10000 10000
10000/- from SBI To SBI Current assets Bank
82 Rs. 50000/- paid from SBI towards Rental Deposit-Dr Current assets Deposit 50000 50000
security Deposit money of New office To SBI Current assets Bank
TDS- Payable/Receivable & their Set of
83 Labour charges paid to contractor Rs. Labour charges –Dr Direct Expense 6000
6000 after deduction of TDS 1% from SBI To TDS Payable Current Lib Payable 60
Top SBI Current assets Bank 5940
84 Tds deducted on labour charges has TDS payable –Dr Current Lib Payable 60 60
been paid through TDS challan to To SBI Current assets Bank
Income tax departments from SBI bank
85 Advertisement Contract Rs. 30000/- SBI –Dr Current assets Bank 29700
received from a party after deduction of TDS Receivable –Dr Current assets Deposit 300
TDS 1% there on and the said amount To Advertisement contract Indirect income 30000
deposited to SBI
86 Professional charges paid to auditors Rs. Professional charges –Dr Indirect exp 5000
5000/- and Tds deducted there on Rs. To TDS payable Current Lib Payable 250
250/- from cash To Cash Current assets Cash 4750
Current Liabilities/Provision /Expense payable/Loans
87 Loan taken from parties Rs. 10000/- and SBI-Dr Current Assets Bank 10000 1000
the same has been deposited to SBI bank To Short term loan Current Lib Exp. payable
88 Interest charge on the loan Rs. 1000 Interest on loan –Dr Indirect Exp 1000 1000
To Interest payable Current . Lib Exp. Payable
89 Audit fees charge this year by auditor Rs Audit fees – Dr Indirect exp 5000 5000
5000/- To Audit Fees payable Current Lib Exp. Payable
90 Salary for march payable this year Rs. Salary-Dr Indirect exp 25000 25000
25000/- for march To salary payable Current lib Exp Payable
91 Provision for bad debt done this year Bad debt- Dr Indirect Exp 10000 10000
Rs. 10000/- To Provision for doubtful debts Current Lib Provision
Purchase/ Sales & Taxes , their Set off

92 Purchase goods worth Rs. 10000/- , and Purchase –Dr Direct exp Purchase 10000
tax charge there on Vat RS. 400 and excise Input VAT-Dr Current assets Deposit 400
duty Rs. 1600 from Mr. Asif Excise-Dr Current assets Deposit 1600
To Mr Asif Current Lib S/ creditors 12000
93 Goods returned to Mr. Asif Rs. 5000/- Mr. Asif – Dr Current lib S/creditors 6000
To Purchase return Direct expense 5000
To excise Current assets Deposit 800
To Input Vat Current assets Deposit 200
94 Goods Purchase on cash RS. 2000/- Purchase – Dr Direct expense Purchase 2000 2000
To Cash Current assets Cash
95 Goods sold on Cash RS. 20000/- Cash-Dr Current assets Cash 20000 20000
To sales Direct income Sales
96 Goods sold to Ram Rs. 20000/- and VAT Ram -Dr Current assets S/debtors 24000
charge 800/- and excise duty RS. 3200/- To Excise Current Lib Exp. Payable 3200
To out put Vat Current lib Exp. Payable 800
To sales Direct Income Sales 20000
97 Goods returned to Ram RS. 10000/- , Vat Sales Return-Dr Direct income Sales 10000 12000
400, Excise 1600 there on Excise-Dr Current Lib Exp. Payable 1600
Output Vat-Dr Current Lib Exp. Payable 400
To Ram Current assets S/debtors
98 Amount received from Ram Rs. 12000/- Cash –Dr Current assets Cash 12000 12000
from cash To Ram Current assets S/debtors
99 Amount Paid to Mr. Asif Rs. 6000 from Mr. Asif- Dr Current Lib S/Creditors 6000 6000
SBI bank To SBI Current assets Bank
100 VAT liability paid to Sales Tax dept Output vat –Dr Current Lib Exp. Payable 400
from SBI To Input Vat Current assets Deposit 200
To SBI Current assets Bank 200