Journalise the following transactions in the books of Sree Vijay Kumar

2022

| Date | Particulars |
|---|---|
| Jan. 01 | Commenced business with cash Rs. 90,000 and due from Kanaka Rs. 10,000 |
| Jan. 03 | Sold goods to Priya Rs. 20,000 |
| Jan. 05 | Goods returned from Priya R

Question

Journalise the following transactions in the books of Sree Vijay Kumar

2022

| Date | Particulars |
|---|---|
| Jan. 01 | Commenced business with cash Rs. 90,000 and due from Kanaka Rs. 10,000 |
| Jan. 03 | Sold goods to Priya Rs. 20,000 |
| Jan. 05 | Goods returned from Priya Rs. 5,000 |
| Jan. 12 | Cash received from Priya Rs. 15,000 |
| Jan. 15 | Cash received from Manjula Rs. 7,000 |
| Jan. 20 | Cheque received from Kanaka Rs. 10,000 |
| Jan. 25 | Cash given to Keertana Rs. 20,000 |
| Jan. 29 | Cheque given to Keertana Rs. 15,000 |
| Jan. 30 | Withdrawn cash Rs. 5,000 and goods worth Rs. 3,000 |
| Jan. 31 | Paid general expenses Rs. 1,000 |

Accepted Answer

>

> [!TLDR]
> Ten journal entries for Sree Vijay Kumar; debit total = credit total = Rs 2,01,000.
>
> **Journal of Sree Vijay Kumar (Jan 2022)**
>
> | Date | Particulars | Dr (Rs) | Cr (Rs) |
> |---|---|---|---|
> | Jan 1 | Cash A/c ... Dr | 90,000 | |
> | | Kanaka A/c ... Dr | 10,000 | |
> | | To Capital A/c | | 1,00,000 |
> | | *(Commenced business with cash and amount due from Kanaka)* | | |
> | Jan 3 | Priya A/c ... Dr | 20,000 | |
> | | To Sales A/c | | 20,000 |
> | | *(Goods sold on credit to Priya)* | | |
> | Jan 5 | Sales Return A/c ... Dr | 5,000 | |
> | | To Priya A/c | | 5,000 |
> | | *(Goods returned by Priya)* | | |
> | Jan 12 | Cash A/c ... Dr | 15,000 | |
> | | To Priya A/c | | 15,000 |
> | | *(Cash received from Priya in settlement)* | | |
> | Jan 15 | Cash A/c ... Dr | 7,000 | |
> | | To Manjula A/c | | 7,000 |
> | | *(Cash received from Manjula)* | | |
> | Jan 20 | Bank A/c ... Dr | 10,000 | |
> | | To Kanaka A/c | | 10,000 |
> | | *(Cheque received from Kanaka)* | | |
> | Jan 25 | Keertana A/c ... Dr | 20,000 | |
> | | To Cash A/c | | 20,000 |
> | | *(Cash given to Keertana)* | | |
> | Jan 29 | Keertana A/c ... Dr | 15,000 | |
> | | To Bank A/c | | 15,000 |
> | | *(Cheque given to Keertana)* | | |
> | Jan 30 | Drawings A/c ... Dr | 8,000 | |
> | | To Cash A/c | | 5,000 | …

Date	Particulars	L.F.	Debit (₹)	Credit (₹)
2024 Apr 01	Cash A/c Dr.	1	50,000
	To Capital A/c	2		50,000
	(Being business started with cash)

Date	Particulars	Debit (₹)	Credit (₹)
	Advertisement (Free Samples) A/c ..... Dr	XXX
	To Purchases A/c		XXX
	(Being goods distributed as free samples)
…

Type of supply	Tax levied
Intra-state (within a state)	CGST + SGST
Intra-Union Territory	CGST + UTGST
Inter-state (one state to another)	IGST
…

Concept understanding — Journal Entry Format

Journal Entry Format – A First Look

The Everyday Intuition

The Precise Meaning

Why It Matters

The Format (Proforma)

Accounting Treatment – Which Account is Debited and Credited

1. Personal Accounts (accounts of persons, firms, banks, etc.)

2. Real Accounts (assets, property, cash, goods)

3. Nominal Accounts (expenses, losses, incomes, gains)

Worked Example

Date	Particulars
Jan. 01	Commenced business with cash Rs. 90,000 and due from Kanaka Rs. 10,000
Jan. 03	Sold goods to Priya Rs. 20,000
Jan. 05	Goods returned from Priya Rs. 5,000
Jan. 12	Cash received from Priya Rs. 15,000
Jan. 15	Cash received from Manjula Rs. 7,000
Jan. 20	Cheque received from Kanaka Rs. 10,000
Jan. 25	Cash given to Keertana Rs. 20,000
Jan. 29	Cheque given to Keertana Rs. 15,000
Jan. 30	Withdrawn cash Rs. 5,000 and goods worth Rs. 3,000
Jan. 31	Paid general expenses Rs. 1,000

Date	Particulars	Dr (Rs)	Cr (Rs)
Jan 1	Cash A/c ... Dr	90,000
	Kanaka A/c ... Dr	10,000
	To Capital A/c		1,00,000
	(Commenced business with cash and amount due from Kanaka)
Jan 3	Priya A/c ... Dr	20,000
	To Sales A/c		20,000
	(Goods sold on credit to Priya)
Jan 5	Sales Return A/c ... Dr	5,000
	To Priya A/c		5,000
	(Goods returned by Priya)
Jan 12	Cash A/c ... Dr	15,000
	To Priya A/c		15,000
	(Cash received from Priya in settlement)
Jan 15	Cash A/c ... Dr	7,000
	To Manjula A/c		7,000
	(Cash received from Manjula)
Jan 20	Bank A/c ... Dr	10,000
	To Kanaka A/c		10,000
	(Cheque received from Kanaka)
Jan 25	Keertana A/c ... Dr	20,000
	To Cash A/c		20,000
	(Cash given to Keertana)
Jan 29	Keertana A/c ... Dr	15,000
	To Bank A/c		15,000
	(Cheque given to Keertana)
Jan 30	Drawings A/c ... Dr	8,000
	To Cash A/c		5,000

🎓Unlock everything free for 14 days

Unlock everything free for 14 days