11 ACCOUNTANCY ,

[Link], P.G.T. COMMERCE G ADW HSS, PUNNAM, KARUR DT..

STEPS IN JOURNALISING
TRANSACTION EVENT ACCOUNTS INVOLVED ACCOUNTING RULE JOURNAL ENTRY
1. Commenced business (with Cash Comes in Real Account Debit What Comes in Cash a/c Dr
cash) Proprietor is the Giver Personal Account Credit the Giver To Capital a/c
2. Opening a Bank account / Banker is the Receiver Personal Account Debit the Receiver Bank a/c Dr
Cash Deposited / Cash goes out Real Account Credit What Goes Out To Cash a/c
Paid into bank
3. Withdrew Cash from Bank Cash Comes in Real Account Debit What Comes in Cash a/c Dr
Banker is the Giver Personal Account Credit the Giver To Bank a/c
4. Borrowed Loan from Bank Banker is the Receiver Personal Account Debit the Receiver Bank a/c Dr
Banker is the Giver Personal Account Credit the Giver To Bank Loan a/c
5. Cash purchases/ Goods Expense Nominal Account Debit All Expenses and Losses Purchases a/c Dr
purchased (Bought) for Cash Cash goes out Real Account Credit What Goes Out To Cash a/c
6. Goods purchased and paid Expense Nominal account Debit all expenses and losses Purchases account Dr
by cheque / Net Banking Banker is the giver personal account Credit the giver To Bank a/c
7. Credit Purchases Expense Nominal Account Debit All Expenses and Losses Purchases a/c Dr
Creditor is the Giver Personal Account Credit the Giver To Creditors a/c
8. Cash Sales / Goods sold Cash Comes in Real Account Debit What Comes in Cash a/c Dr
for Cash Income Nominal Account Credit All Incomes and Gains To Sales a/c
9. Credit Sales Debtor is the Receiver Personal Account Debit the Receiver Debtors’ a/c Dr
Income Nominal Account Credit All Incomes and Gains To Sales a/c
10. Assets bought on Credit Asset Comes in Real Account Debit What Comes in Asset’s a/c Dr
Creditor is the Giver Personal Account Credit the Giver To Creditors a/c
11. Assets bought for cash Asset Comes in Real Account Debit What Comes in Asset’s a/c Dr
Cash goes out Real Account Credit What Goes Out To Cash a/c
12. Expenses paid Expense / Loss Nominal Account Debit All Expenses and Losses Expenses a/c Dr
Cash goes out Real Account Credit What Goes Out To Cash a/c
13. Incomes received / Earned Cash Comes in Real Account Debit What Comes in Cash a/c Dr
Incomes and Gains Nominal Account Credit All Incomes and Gains To Incomes Received a/c

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 TRANSACTION EVENT ACCOUNTS INVOLVED ACCOUNTING RULE JOURNAL ENTRY
14. Purchases/ Returns Creditor is the Receiver Personal Account Debit the Receiver Creditor’s a/c Dr
/ Returns outwards Goods purchased, now Goes out Real Account Credit What Goes Out To Purchases Returns a/c
15. Sales Returns Goods Sold, Now Comes in Real Account Debit What Comes in Sales Returns a/c Dr
Debtor is the Giver Personal Account Credit the Giver To Debtors a/c
16. Cash received from Cash Comes in Real Account Debit What Comes in Cash a/c Dr
Debtors Debtor is the Giver Personal Account Credit the Giver To Debtors a/c
17. Cash received from Cash Comes in Real Account Debit What Comes in Cash a/c Dr
Debtors and Discount Expenses and Losses Nominal Account Debit All Expenses and Losses Discount Allowed a/c Dr
Allowed to them Debtor is the Giver Personal Account Credit the Giver To Debtors a/c
18. Cash Paid to Creditor is the Receiver Personal Account Debit the Receiver Creditor’s a/c Dr
Creditors Cash goes out Real Account Credit What Goes Out To Cash a/c
19. Cash Paid to Creditor is the Receiver; Personal Account Debit the Receiver Creditors a/c Dr
Creditors and Discount Cash goes out Real Account Credit What Goes Out To Cash a/c
Received from them Incomes, Gains Nominal Account Credit All Incomes and Gains To Discount Received a/c
20. Drawings of the Proprietor is the Receiver Personal Account Debit the Receiver Drawings a/c Dr
Proprietor ( For Cash goes out / Real Account Credit What Goes Out To Cash a/c /
personal use) Banker is the Giver / Personal Account Credit the Giver To Bank a/c /
Cash / Bank / Goods / Goods Goes out Real Account Credit What Goes Out
To Purchases a/c
21. Received Bills Bills Receivable Comes in Real Account Debit What Comes in Bills Receivable a/c Dr
Receivable Debtor is the Giver Personal Account Credit the Giver To Debtors a/c
22. Received Cash for Cash Comes in Real Account Debit What Comes in Cash a/c Dr
Bills Receivable Debtor is the Giver Personal Account Credit the Giver To Bills Receivable a/c
23. Discounting a Bills Banker is the Receiver Personal Account Debit the Receiver Bank a/c Dr
Receivable in Bank Discount is an Expense Nominal Account Debit All Expenses and Losses Discount Allowed a/c Dr
Bills Receivable Goes out Real Account Credit What Goes Out To Bills Receivable a/c
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 TRANSACTION EVENT ACCOUNTS INVOLVED ACCOUNTING RULE JOURNAL ENTRY
24. Dishonour of a Debtor is the Receiver Personal Account Debit the Receiver Debtors a/c Dr
Bills Receivable Banker is the Giver Real Account Credit What Goes Out To Bank a/c
Discounted
25. Accepting Bills Creditor is the Receiver Personal Account Debit the Receiver Creditors a/c Dr
Payable Bills Payable Goes Out Real Account Credit What Goes Out To Bills Payable a/c
26. Cash Paid for Bills Payable Comes in Real Account Debit What Comes in Bills Payable a/c Dr
Bills Payable Cash goes out Real Account Credit What Goes Out To Cash a/c
27. Bills Payable Bills Payable Comes in Real Account Debit What Comes in Bills Payable a/c Dr
Dishonoured Creditor is the Giver Personal Account Credit the Giver To Creditors a/c
28. Goods issued Expense Nominal Account Debit All Expenses and Losses Charities a/c Dr
for Charity Goods Goes Out at cost price Real Account Credit What Goes Out To Purchases a/c
29. Goods issued as Expense Nominal Account Debit All Expenses and Losses Sales promotion A/c Dr
Samples Goods Goes Out at cost price Real Account Credit What Goes Out To Purchases a/c
30. Goods Taken for Expense Nominal Account Debit All Expenses and Losses Office Expenses a/c Dr
Office Use Goods Goes Out at cost price Real Account Credit What Goes Out To Purchases a/c

*** Opening a Bank account, cash paid or deposited into bank, Cash received by Cash Deposit Machine (CDM), Amount received by Net
Banking, NEFT, RTGS, ECS - Amount received into our account By the Banker. So, Bank account is Debited.

*** Purchases account is always debited – Even if we assume it as Goods comes in , there is no change in the entry.

* ** Sales account is always credited - Even if we assume it as Goods Goes out , there is no change in the entry.

*** Amount paid by Net banking, Credit card, Debit card, ATM Card, NEFT, RTGS, ECS – From our Account, Banker is the Giver. Therefore,
Bank Account is credited.

*** Goods issued as Samples, Charity purpose, or Taken for Office / Business use or Taken for personal use, Assume it as Goods are
taken at Cost price and therefore Purchases account is credited.

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 CLASSIFICATION OF ACCOUNTS
PERSONAL ACCOUNT REAL ACCOUNT NOMINAL ACCOUNT
CAPITAL / முதல் CASH / ப ோக்கக் க/கு PURCHASES / பகோள்முதல் ,
DRAWINGS / எடுப்பு STOCK / ெ க்கிருப்பு SALES / விற்ெனன
BANK / வங்கி PURCHASES RETURNS / பகோள்முதல் திருப்ெம் EXPENSES / பெலவுகள் ,
SALES RETURNS / விற்ெனனத் திருப்ெம்
CREDITORS ( NAME) / கடனீந்ததோர் (பெயர்) INCOMES / வருமோனங்கள்
FURNITURES, FIXTURES / அனறகலன்,
DEBTORS (NAME) / கடனோளிகள் (பெயர்) DISCOUNT ALLOWED / அளித்த தள்ளுெடி,
பெோருத்துனககள்
OUTSTANDING EXPENSES / பகோடுெடதவண்டிய DISCOUNT RECEIVED / பெற்ற தள்ளுெடி
PLANT, MACHINERY / பெோறி, இயந்தி ம் ,
பெலவுகள் தளவோடங்கள் CHARITIES / அறக்பகோனட
PREPAID EXPENSES / BUILDINGS, PREMISES / கட்டடம், வளோகம் SALES PROMOTION EXPENSES / விற்ெனன
முன்கூட்டி பெலுத்திய பெலவுகள் COMPURER / கணிப்பெோறி தமம்ெோட்டுச் பெலவு
INCOMES EARNED, NOT YET RECEIVED / BILLS RECEIVABLE / பெறுதற்குரிய மோற்றுச் சீட்டு OFFICE EXPENSES / அலுவலகச் பெலவு
கூடியுள்ள வருமோனம் BILLS PAYABLE / பெலுத்தற்குரிய மோற்றுச்சீட்டு
BAD DEBTS / வோ ோக்கடன்
INCOMES RECEIVED IN ADVANCE / GOODWILL / நற்பெயர்
PATENTS/கோப்புரினம STATIONERIES / எழுது பெோருட்கள்
முன்கூட்டிப் பெற்ற வருமோனம்
COPYRIGHT / ெதிப்புரினம DIVIDEND / ெங்கோதோயம்
ORGANISATIONS (NAME) /
INTEREST RECEIVED / பெற்ற வட்டி,
நிறுவனங்கள் (பெயர்)
INTEREST ALLOWED / அளித்த வட்டி

DEBIT BALANCES / ெற்று இருப்புகள் CREDIT BALANCES / வ வு இருப்புகள்

1. PROPERTIES / பெோத்துக் கணக்குகள் 1. LIABILITIES / பெோறுப்புகள்
2. EXPENSES AND LOSSES / பெலவுகள், நட்டங்கள் 2. CAPITAL / முதல் கணக்கு
3. DEBTORS / கடனோளிகள் 3. INCOMES, GAINS / வருமோனங்கள், ஆதோயங்கள்
4. DRAWINGS / எடுப்பு 4. CREDITORS / கடனீந்ததோர்
5. PURCHASES / பகோள்முதல் கணக்கு 5. SALES / விற்ெனனக் கணக்கு
6. SALES RETURNS / விற்ெனனத் திருப்ெம் 6. PURCHASES RETURNS / பகோள்முதல் திருப்ெம்
7. BILLS RECEIVABLES / பெறுதற்குரிய மோற்றுச் சீட்டு 7. BILLS PAYABLE / பெலுத்தற்குரிய மோற்றுச்சீட்டு
8. STOCK / ெ க்கிருப்பு 8. BANK OVER DRAFT / வங்கி தமல்வன ப்ெற்று
[Link], [Link] ( COMMERCE) ,
GOVT. ADW HR SEC SCHOOL, PUNNAM, KARUR DT.
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