Journal Entries

				Rs..	Rs..
Cash Account			Debited	5000
To	X capital Account				5000
Narration: Being the commencement of business with cash
				Rs..	Rs..
Bank Account			Debited	1000
To	Cash Account				1000
Narration:	Being cash deposited into Bank
				Rs..	Rs..
Furniture Account			Debited	1000
To	Cash Account				1000
Narration:	Being furniture purchased by cash
				Rs..	Rs..
Purchase Account			Debited	500
To	Cash Account				500
Narration:	Being Goods purchases of goods by cash Rs.500
				Rs..	Rs..
Purchase Account			Debited	200
To	Y Account				200
Narration:	Being Goods purchased on Credit from Y
				Rs..	Rs..
Cash Accounts			Debited	400
To	Sales Accounts				400
Narration:	Being Goods Sold by cash
				Rs..	Rs..
Z Accounts			Debited	700
To	Sales Accounts				700
Narration:	Being goods sold by Credit to Z
				Rs..	Rs..
Cash Accounts			Debited	630
Discount Allowed Accounts			Debited	70
To	Z Accounts				700
Narration:	Being cash received from Z and allowed Discount 10%
				Rs..	Rs..
Y Account			Debited	200
To	Discount Received				20
To	Cash Account				180
Narration:	Being Payment made by cash to Y and Received Discount 10%
				Rs..	Rs..
Cash Account			Debited	60
To	Commission Received				60
Narration:	Commission receipt in cash
				Rs..	Rs..
Depreciation Account			Debited	100
To	Furniture Account				100
Narration:	Being depreciation on furniture of Rs.1000 @ 10%
				Rs..	Rs..
Drawing Account			Debited	200
To	Bank Account				200
Narration:	Being cash drew for personal exp
				Rs..	Rs..
Salary Account			Debited	1000
To	Cash Account				1000
Narration:	Salary Paid
				Rs..	Rs..
Cash Account			Debited	600
Bad debt Account			Debited	400
To	G (Customer) Account				1000
Narration:	Sold Goods to G and got insolvent Dividend received @ 60 paise
				Rs..	Rs..
Cash Account			Debited	1000
To	Bad debts Recovered Account				1000
Narration:	Customer previously written off Bad debts Reconvered
				Rs..	Rs..
Charity Account			Debited	500
To	Purchase Account				200
To	Cash Account				300
Narration:	Being Donate Goods cost Rs.200 and Cash 300
				Rs..	Rs..
Cash Account			Debited	3200
Loss by Fire Account				800
To	Purchase Account				4000
Narration:	Being Insurance claim received 80% of value Rs,4000
				Rs..	Rs..
Salary Account			Debited	7000
To	Salary Outstanding Account				7000
Narration:	Being Staff salary outstanding
				Rs..	Rs..
Salary Outstanding Account			Debited	7000
To	Cash Account				7000
Narration:	Outstanding Salary Paid
				Rs..	Rs..
Cash Account			Debited	200
To	Accrued rent Account				200
Narration:	Accrued Rent on Building of Dec Received on Jan 2010
				Rs..	Rs..
Interest on Capital Account			Debited	500
To	Capital Account				500
Narration:	Interest allowed 10% on capital