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)