https://docs.google.com/presentation/d/1Ti5hG4yZgJXuU1iGbKhNIDHIh9pl3sIFi2PKUlnZ8bE/edit?usp=sharing Journal accounting meaning,format, types of accounting, three golden rules of accounting, examples

2. JOURNAL
 The word journal is derived from the “latin” word “journ”
which means a day.
 Therefore journal means a day book where in day to day
business transactions are recorded in chronological order
 The process of recording the transaction in the journal is
called “journalizing”
 The entry made in the journal is called “journal entry”

3. Format

5. Personal Account: Accounts that deals with persons, i.e. human beings
and artificial judicial persons such as companies, government
organisations, HUF, etc.
Natural Personal Account: Accounts that are concerned with natural
human beings are called natural personal account. It includes accounts of
debtors, creditors, proprietor, etc.
Artificial Personal Account: All the business concern has a separate legal
identity in the eyes of the law, and so the entities are different from its
members. Therefore, the accounts of clubs, charitable trust, company,
bank, etc are covered under this category.
Representative Personal Account: The accounts which represent persons
or group thereof, are called representative personal accounts, such as
capital A/c, drawings A/c, prepaid A/c, outstanding liability A/c.

6. Impersonal Account: As the name suggests, the accounts which are
not personal are called impersonal account.
Real Account: Real accounts covers all the accounts related to firm’s
assets. It includes both tangible real account, such as cash A/c, building
A/c, furniture A/c, investment A/c, etc. and intangible real account,
such as goodwill A/c, patent A/c, intellectual property A/c.
Nominal Account: These are fictitious accounts, that are associated
with expenses, losses, revenues and gains of the firm, such as rent and
rates account, travelling expenses A/c, the commission received A/c,
interest paid A/c.

8. 1. Started/commenced business with cash
2. Cash sales
3. Purchase for cash
4. Goods sold for credit to Rahim
5. Wages paid
6. Deposited into bank
7. Cash paid to Mahesh
8. Machinery purchased
9. Purchased goods from anitha
10.Cash received from ramya
11.Paid rent
12.Postage and stationery
13.Cash drawn for personal use
14.Received rent

9. Debit Credit
1.Cash a/c To capital a/c
2.Cash a/c To sales a/c
3.Purchase a/c To cash a/c
4.Rahim a/c To sales a/c
5.Wages a/c To cash a/c
6.Bank a/c To cash a/c
7.Mahesh a/c To cash a/c
8.Machinery a/c To cash a/c
9.Purchase a/c To anitha a/c
10.Cash a/c To ramya a/c
11. Rent a/c To cash a/c
12.Postage and stationery a/c To cash a/c
13.Drawing a/c To cash a/c
14.Cash a/c To rent a/c

10. 1. Sold goods to amir
2. Purchased from rama
3. Purchased computer and paid by cheque
4. Varun withdrew cash for his personal expenses
5. Furniture purchased
6. Returned goods to rama
7. Amir returned goods
8. Advertisement expenses
9. Deposited cash with syndicate bank
10.Goods withdrawn for personal work
11.Cash paid to Ramesh and discount received
12.Cash received from ramu and discount allowed
13.Cash withdrawn from bank for office use
14.Salaries paid by cheque

11. Debit Credit
1.Amir a/c To sales a/c
2.Purchase a/c To rama a/c
3.Computer a/c To bank a/c
4.Varun’s drawings a/c To cash a/c
5.Furniture a/c To cash a/c
6.Rama a/c To purchase returns a/c
7.Sales returns a/c To amir a/c
8.Advertisement a/c To cash a/c
9.Syndicate bank a/c To cash a/c
10.varun’s drawings a/c To purchases a/c
11.Ramesh a/c To cash a/c, to discount a/c
12.Cash a/c, discount allowed a/c To ramu a/c
13.Cash a/c To bank a/c
14.Salaries a/c To bank a/c

12. 1. Sales
2. Purchases
3. Bought goods from radhika
4. Sold goods to swathi for cash
5. Mahesh returned goods
6. Commission received
7. Heating expenses
8. Cash paid to pramod
9. Goods withdrawn for domestic use
10.Cash received from anand and discount allowed
11.Interest received
12.Cash paid to raman ,after receiving a discount of
13.Commission paid

13. Debit Credit
1.Cash a/c To Sales a/c
2.Purchase a/c To cash a/c
3.Purchase a/c To radhika a/c
4.Cash a/c To sales a/c
5.Sales returns a/c To Mahesh a/c
6.Cash a/c To commission received a/c
7.Heating expenses a/c To cash a/c
8.Pramod a/c To cash a/c
9.Drawings a/c To goods a/c, to purchase a/c
10.Cash a/c, discount allowed a/c To anand a/c
11.Cash a/c To interest received a/c
12.Ramana a/c To cash a/c, to discount a/c
13.Commission a/c To cash a/c

14. 1. Commenced business with cash and furniture
2. Paid electricity bill
3. Sold goods for cash
4. Bought goods on credit from Nikhil
5. Paid wages
6. Interest received through cheque
7. Sold plant & machinery
8. Salaries paid
9. Purchased on credit from Mahesh
10.Purchased goods for cash and paid by cheque
11.Sold goods and received cash and by cheque

15. Debit Credit
1.Cash a/c, furniture a/c To capital a/c
2.Electricity bill a/c To cash a/c
3.Cash a/c To sales a/c
4.Purchases a/c To Nikhil a/c
5.Wages a/c To cash a/c
6.Bank a/c To interest received a/c
7.Cash a/c To plant and machinery a/c
8.Salaries a/c To cash a/c
9.Purchase a/c To Mahesh a/c
10.Purchase a/c To bank a/c
11.Cash a/c, bank a/c To sales a/c

16. 1. Commenced business with cash and stock
2. Withdrew cash for office use
3. Paid for sundry expenses
4. Paid into bank
5. Purchased goods from tharun on credit
6. Goods returned to ragan
7. Bought furniture
8. Sold goods to sudip
9. Goods returned from sudip
10.Cash received from sudip
11.Goods taken by sudha & co for domestic use

17. Debit Credit
1.Cash a/c, stock a/c To capital a/c
2.Cash a/c To bank a/c
3.Sundry expenses a/c To cash a/c
4.Bank a/c To cash a/c
5.Purchase a/c To tharun a/c
6.Ragan a/c To purchase returns a/c
7.Furniture a/c To cash a/c
8.Sudip a/c To sales a/c
9.Sales returns a/c To sudip a/c
10.Cash a/c To sudip a/c
11.Drawings a/c To purchases a/c, to goods a/c