Journal entries questions in English for practice with Fully Explain Answer

Journal entries questions: Here are 10 Journal entries-related questions in English for practice:

1. What is the journal entry for purchasing goods worth ₹10,000 in cash?
2. How would you record the sale of goods worth ₹15,000 on credit?
3. What is the journal entry for paying rent of ₹5,000 by cheque?
4. How would you record the withdrawal of ₹20,000 cash from the bank for office use?
5. What is the journal entry for receiving ₹12,000 from a debtor?
6. How would you record the payment of salaries worth ₹50,000 to employees?
7. What is the journal entry for purchasing machinery worth ₹1,00,000 on credit?
8. How would you record the owner withdrawing ₹10,000 cash for personal use?
9. What is the journal entry for receiving a loan of ₹2,00,000 from a bank?
10. How would you record the depreciation of an asset worth ₹5,000 for the year?

Here are the journal entries for all the questions

1. Purchasing goods worth ₹10,000 in cash:

Account	Debit (₹)	Credit (₹)
Purchases A/c	10,000
Cash A/c		10,000

Explanation:
Goods are purchased, so the Purchases Account is debited. Cash is paid, so the Cash Account is credited.

2. Sale of goods worth ₹15,000 on credit:

Account	Debit (₹)	Credit (₹)
Debtor A/c	15,000
Sales A/c		15,000

Explanation:
Goods are sold on credit, so the Debtor Account is debited, and the Sales Account is credited.

3. Paying rent of ₹5,000 by cheque:

Account	Debit (₹)	Credit (₹)
Rent A/c	5,000
Bank A/c		5,000

Explanation:
Rent is an expense, so the Rent Account is debited. Payment is made by cheque, so the Bank Account is credited.

4. Withdrawal of ₹20,000 cash from the bank for office use:

Account	Debit (₹)	Credit (₹)
Cash A/c	20,000
Bank A/c		20,000

Explanation:
Cash is withdrawn from the bank, so the Cash Account is debited, and the Bank Account is credited.

5. Receiving ₹12,000 from a debtor:

Account	Debit (₹)	Credit (₹)
Cash A/c	12,000
Debtor A/c		12,000

Explanation:
Cash is received, so the Cash Account is debited. The debtor’s balance is reduced, so the Debtor Account is credited.

6. Payment of salaries worth ₹50,000 to employees:

Account	Debit (₹)	Credit (₹)
Salaries A/c	50,000
Cash/Bank A/c		50,000

Explanation:
Salaries are an expense, so the Salaries Account is debited. Payment is made, so the Cash/Bank Account is credited.

7. Purchasing machinery worth ₹1,00,000 on credit:

Account	Debit (₹)	Credit (₹)
Machinery A/c	1,00,000
Creditor A/c		1,00,000

Explanation:
Machinery is an asset, so the Machinery Account is debited. Since it is purchased on credit, the Creditor Account is credited.

8. Owner withdrawing ₹10,000 cash for personal use:

Account	Debit (₹)	Credit (₹)
Drawings A/c	10,000
Cash A/c		10,000

Explanation:
The owner’s withdrawal is recorded in the Drawings Account (debited). Cash is reduced, so the Cash Account is credited.

9. Receiving a loan of ₹2,00,000 from a bank:

Account	Debit (₹)	Credit (₹)
Bank A/c	2,00,000
Loan A/c		2,00,000

Explanation:
The bank balance increases, so the Bank Account is debited. The loan is a liability, so the Loan Account is credited.

10. Depreciation of an asset worth ₹5,000 for the year:

Account	Debit (₹)	Credit (₹)
Depreciation A/c	5,000
Asset A/c		5,000

Explanation:
Depreciation is an expense, so the Depreciation Account is debited. The value of the asset decreases, so the Asset Account is credited.