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प्रश्न
Briefly explain about steps in journalising.
संक्षेप में उत्तर
उत्तर
The process of analyzing the business transactions under the heads of debit and credit and recording them in the journal is called journalizing. An entry made in the journal is called a journal entry.
The following steps are followed in journalising:
- Analyze the transactions and identify the accounts (based on aspects) which are involved in the transaction.
- Classify the above accounts under Personal account, Real account or Nominal account.
- Apply the rules of debit and credit for the above two accounts.
- Find which account is to be debited and which account is to be credited by the application of rules of the double-entry system.
- Record the date of the transaction in the date column.
- Enter the name of the account to be debited in the particulars column very close to the left-hand side of the particulars column followed by the abbreviation ‘Dr.’ at the end in the same line. Against this, the amount to be debited is entered in the debit amount column in the same line.
- Write the name of the account to be credited in the second line starting with the word ‘To’ prefixed a few spaces away from the margin in the particulars column. Against this, the amount to be credited is entered in the credit amount column in the same line.
- Write the narration within brackets in the next line in the particulars column.
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Journal Entries
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संबंधित प्रश्न
What is meant by journalising?
Enter the following transactions in the journal of Manohar who is dealing in textiles:
| 2018 March | Particulars | ₹ |
| 1 | Manohar started business with cash | 60,000 |
| 2 | Purchased furniture for cash | 10,000 |
| 3 | Bought goods for cash | 25,000 |
| 6 | Bought goods from Kamalesh on credit | 15,000 |
| 8 | Sold goods for cash | 28,000 |
| 10 | Sold goods to Hari on credit | 10,000 |
| 14 | Paid Kamalesh | 12,000 |
| 18 | Paid rent | 500 |
| 25 | Received from Hari | 8,000 |
| 28 | Withdrew cash for personal use | 4,000 |
Pass journal entries in the books of Sasi Kumar who is dealing in automobiles.
| 2017 Oct | Particulars | ₹ |
| 1 | Commenced business with goods | 40,000 |
| 3 | Cash introduced in the business | 60,000 |
| 4 | Purchased goods from Arul on credit | 70,000 |
| 6 | Returned goods to Arul | 10,000 |
| 10 | Paid cash to Arul on account | 60,000 |
| 15 | Sold goods to Chandar on credit | 30,000 |
| 18 | Chandar returned goods worth | 6,000 |
| 20 | Received cash from Chandar in full settlement | 23,000 |
| 25 | Paid salaries through ECS | 2,000 |
| 30 | Sasi Kumar took for personal use goods worth | 10,000 |
Journalise the following transactions in the books of Ramesh who is dealing in computers:
| 2018 March | Particulars |
| 1 | Ramesh started business with cash ₹ 3,00,000, Goods ₹ 80,000 and Furniture ₹ 27,000. |
| 2 | Money deposited into bank ₹ 2,00,000 |
| 3 | Bought furniture from M/s Jayalakshmi Furniture for ₹ 28,000 on credit. |
| 4 | Purchased goods from Asohan for ₹ 5,000 by paying through debit card. |
| 5 | Purchased goods from Guna and paid through net banking for cash ₹ 10,000 |
| 6 | Purchased goods from Kannan and paid through credit card ₹ 20,000 |
| 7 | Purchased goods from Shyam on credit for ₹ 50,000 |
| 8 | Bill drawn by Shyam was accepted for ₹ 50,000 |
| 9 | Paid half the amount owed to M/s Jayalakshmi Furniture by cheque |
| 10 | Shyam’s bill was paid |
Raja has a hotel. The following transactions took place in his business. Journalise them.
| Jan. | Particulars | ₹ |
| 1 | Started business with cash | 3,00,000 |
| 2 | Purchased goods from Rajiv on credit | 1,00,000 |
| 3 | Cash deposited with the bank | 2,00,000 |
| 20 | Borrowed loan from bank | 1,00,000 |
| 22 | Withdrew from bank for personal use | 800 |
| 23 | Amount paid to Rajiv in full settlement through NEFT | 99,000 |
| 25 | Paid club bill of the proprietor by cheque | 200 |
| 26 | Paid electricity bill of the proprietor’s house through debit card | 2,000 |
| 31 | Lunch provided at free of cost to a charity | 1,000 |
| 31 | Bank levied charges for locker rent | 1,000 |
From the following transactions of Shyam, a stationery dealer, pass journal entries for the month of August 2017.
| Aug. | Particulars |
| 1 | Commenced business with cash ₹ 4,00,000, Goods ₹ 5,00,000 |
| 2 | Sold goods to A and money received through RTGS ₹ 2,50,000 |
| 3 | Goods sold to Z on credit for ₹ 20,000 |
| 5 | Bill drawn on Z and accepted by him ₹ 20,000 |
| 8 | Bill received from Z is discounted with the bank for ₹ 19,000 |
| 10 | Goods sold to M on credit ₹ 12,000 |
| 12 | Goods distributed as free samples for ₹ 2,000 |
| 16 | Goods taken for office use ₹ 5,000 |
| 17 | M became insolvent and only 0.80 per rupee is received in final settlement |
| 20 | Bill of Z discounted with the bank is dishonoured |
Mary is a rice dealer having business for more than 5 years. Pass journal entries in her books for the period of March, 2018.
| March | Particulars | ₹ |
| 1 | Cement bags bought on credit from Sibi | 20,000 |
| 2 | Electricity charges paid through net banking | 500 |
| 3 | Returned goods bought from Sibi | 5,000 |
| 4 | Cement bags taken for personal use | 1,000 |
| 5 | Advertisement expenses paid | 2,000 |
| 6 | Goods sold to Mano | 20,000 |
| 7 | Goods returned by Mano | 5,000 |
| 8 | Payment received from Mano through NEFT | 15,000 |
