Written by students who passed Immediately available after payment Read online or as PDF Wrong document? Swap it for free 4.6 TrustPilot
logo-home
logo
  • Accounting
To add items to your wishlist, you must be logged in
Document preview thumbnail
Preview 1 out of 3 pages
Class notes

Basic journal entries

0.0
(0 reviews)
- sold
3 pages
2026/2027 Written for academic year
Institution
Course
Accounting
Document preview thumbnail
Preview 1 out of 3 pages

It is about the the basic journal entries of Accounting

Content preview

Basic Journal Entries
Complete Notes and Practical Examples

1. Golden Rule / Modern Debit-Credit Rule
Assets & Expenses: Increase → Debit; Decrease → Credit.
Liabilities, Capital & Income/Revenue: Increase → Credit; Decrease → Debit.

Total Debit = Total Credit

2. Basic Journal Entry Format
Debit Account A/c Dr.
To Credit Account A/c

3. Common Journal Entries
1. Started Business with Cash
Journal Entry:
Cash A/c Dr. ■1,00,000
To Capital A/c ■1,00,000
Reason: Cash increases; Capital increases.

2. Purchased Goods for Cash
Journal Entry:
Purchases A/c Dr. ■20,000
To Cash A/c ■20,000
Reason: Purchases is debited; Cash decreases.

3. Purchased Goods on Credit
Journal Entry:
Purchases A/c Dr. ■15,000
To Ravi A/c ■15,000
Reason: Ravi becomes a creditor.

4. Purchased Furniture for Cash
Journal Entry:
Furniture A/c Dr. ■10,000
To Cash A/c ■10,000
Reason: Furniture is an asset and increases.

5. Sold Goods for Cash
Journal Entry:
Cash A/c Dr. ■25,000
To Sales A/c ■25,000
Reason: Cash increases; Sales revenue increases.

6. Sold Goods on Credit
Journal Entry:
Amit A/c Dr. ■12,000


Page 1

Document information

School year
1
Uploaded on
August 19, 2026
Number of pages
3
Written in
2026/2027
Type
Class notes
Professor(s)
Peter
Contains
All classes
Report Copyright Violation
$6.54
Wrong document? Swap it for free Within 14 days of purchase and before downloading, you can choose a different document. You can simply spend the amount again.
Written by students who passed
Immediately available after payment
Read online or as PDF
Seller avatar
eshwarvinod2004
Sold
0
Followers
0
Items
6
Last sold
-

Browse related subjects

Subjects

  • accounting
  • basics of accounting
  • basic journal entries
  • journal
  • entry
  • journal entries

Why students choose Stuvia

Created by fellow students, verified by reviews

Quality you can trust: written by students who passed their tests and reviewed by others who've used these notes.

Didn't get what you expected? Choose another document

No worries! You can instantly pick a different document that better fits what you're looking for.

Pay as you like, start learning right away

No subscription, no commitments. Pay the way you're used to via credit card and download your PDF document instantly.

Student with book image

“Bought, downloaded, and aced it. It really can be that simple.”

Alisha Student

Working on your references?

Create accurate citations in APA, MLA and Harvard with our free citation generator.

Learn more Create citation
Working on your references?

Frequently asked questions