There are two types of journal entries in accounting.
They are simple journal entry and compound journal entry.
Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු =
When there is one debit and one credit transaction in one journal entry, it is known simple journal entry.
Example: Motorbike purchased in cash Rs 180,000.
Journal Entry for Asian Style
Date |
Particulars |
LF |
Amount Dr |
Amount Cr |
Jan, 2 |
Motorbike account Dr To Cash account (Being- motorbike purchased in cash) |
|
180,000
|
180,000
|
When there are two or more than two transactions either in debit side or in credit side, it is known compound journal entry.
Compound journal entry is the combination of two or more simple journal entry.
For compound journal entry, date and nature must be same.
Example
4th March: Business started with cash Rs 450,000 and stock Rs 120,000.
Journal Entry for Asian Style
Date |
Particulars |
LF |
Amount Dr |
Amount Cr |
March, 4 |
Cash account Dr Stock account Dr To Capital account (Being- business started with cash and stock) |
|
4,50,000 1,20,000
|
5,70,000
|
Example
15th April: Cash paid to creditors Rs 14,800 and discount received Rs 200.
Journal Entry for Asian Style
Date |
Particulars |
LF |
Amount Dr |
Amount Cr |
April, 15 |
Creditors account Dr To Cash account To Discount received account (Being- cash paid to creditors and discount received) |
|
15,000 |
14,800 200 |
###########
Click on link for YouTube videos CHAPTERS OF CLASS 11
ACCOUNTING EQUATION http://tiny.cc/c89jkz
BASIC JOURNAL ENTRIES IN NEPALI http://tiny.cc/uaakkz
BASIC JOURNAL ENTRIES http://tiny.cc/8aakkz
JOURNAL ENTRY AND LEDGER http://tiny.cc/caakkz
LEDGER http://tiny.cc/haakkz
SUBSIDIARY BOOK http://tiny.cc/399jkz
CASH BOOK http://tiny.cc/889jkz
TRIAL BALANCE & ADJUSTED TRIAL BALANCE http://tiny.cc/c59jkz
BANK RECONCILIATION STATEMENT (BRS) http://tiny.cc/q59jkz
DEPRECIATION http://tiny.cc/ugakkz
FINAL ACCOUNT: CLASS 11 http://tiny.cc/y89jkz
ADJUSTMENT IN FINAL ACCOUNT http://tiny.cc/keakkz
CAPITAL AND REVENUE http://tiny.cc/peakkz
SINGLE ENTRY SYSTEM http://tiny.cc/n19jkz
NON-PROFIT ORGANIZATION (NON-TRADING CONCERN http://tiny.cc/j09jkz
GOVERNMENT ACCOUNTING http://tiny.cc/hcakkz
GOSWARA VOUCHER (JOURNAL VOUCHER) http://tiny.cc/hcakkz
###########
***********
Thank for investing your time.
Please comment on article..
You can help me by sharing this article at your social media platform.
Jay Google, Jay YouTube, Jay Social Media
जय गूगल, जय युट्युब, जय सोशल मीडिया