Solved Journal Entries – (SET-01)
Q1. Capital Introduced
(Real Account + Personal Account)
Journal Entry:
Cash A/c Dr 50,000
To Capital A/c 50,000
(Being capital introduced in business)
Q2. Purchase of Machinery
(Real Account)
Machinery A/c Dr 20,000
To Cash A/c 20,000
(Being machinery purchased for cash)
Q3. Rent Paid
(Nominal Account)
Rent A/c Dr 5,000
To Cash A/c 5,000
(Being rent paid)
Q4. Cash Sales
(Nominal Account)
Cash A/c Dr 8,000
To Sales A/c 8,000
(Being goods sold for cash)
Q5. Loan Taken from Shyam
(Personal Account)
Cash A/c Dr 6,000
To Shyam A/c 6,000
(Being loan taken from Shyam)
Q6. Payment to Mohan
(Personal Account)
Mohan A/c Dr 4,000
To Cash A/c 4,000
(Being cash paid to Mohan)
Q7. Electricity Bill Paid
(Nominal Account)
Electricity Expense A/c Dr 1,500
To Cash A/c 1,500
(Being electricity bill paid)
Q8. Cash Deposited into Bank
(Real Account)
Bank A/c Dr 10,000
To Cash A/c 10,000
(Being cash deposited into bank)
Q9. Furniture Purchased on Credit
(Real + Personal Account)
Furniture A/c Dr 3,000
To Ramesh A/c 3,000
(Being furniture purchased on credit from Ramesh)
Q10. Interest Received
(Nominal Account)
Cash A/c Dr 2,000
To Interest Income A/c 2,000
(Being interest income received)
