50 Journal Entries With Solutions Class 11 Pdf Download Updated — Proven

This comprehensive guide provides essential journal entries for Class 11 Accountancy, covering basic to advanced transactions. Understanding these is the foundation of the Double Entry System. The Golden Rules of Accounting Before diving into the entries, remember the three pillars: Debit what comes in, credit what goes out. Personal Accounts: Debit the receiver, credit the giver.

💡 Always write a brief narration (e.g., Being goods sold for cash ) after each entry in your exam to secure full marks! 50 journal entries with solutions class 11 pdf download

Debit all expenses/losses, credit all incomes/gains. 50 Journal Entries with Solutions 1. Basic Business Commencement Business started with cash . Cash A/c Dr. To Capital A/c Opened a bank account by depositing . Bank A/c Dr. To Cash A/c 2. Purchase Transactions Purchased goods for cash . Purchases A/c Dr. To Cash A/c Purchased goods from Rohit on credit . Purchases A/c Dr. To Rohit’s A/c Purchased Furniture for cash . Furniture A/c Dr. To Cash A/c Purchased Machinery from HMT Ltd. on credit . Machinery A/c Dr. To HMT Ltd. A/c Returned goods to Rohit . Rohit’s A/c Dr. To Purchase Return A/c 3. Sales Transactions Sold goods for cash . Cash A/c Dr. To Sales A/c Sold goods to Sunil on credit . Sunil’s A/c Dr. To Sales A/c Sunil returned goods worth . Sales Return A/c Dr. To Sunil’s A/c Sold old newspaper . Cash A/c Dr. To Miscellaneous Income A/c 4. Cash & Banking Transactions Withdrew cash from bank for office use . Cash A/c Dr. To Bank A/c Withdrew cash from bank for personal use . Drawings A/c Dr. To Bank A/c Cash paid to Rohit in full settlement ). Rohit’s A/c Dr. To Cash A/c To Discount Received A/c Received cash from Sunil and allowed him discount . Cash A/c Dr. Discount Allowed A/c Dr. To Sunil’s A/c Cheque received from a debtor and deposited same day . Bank A/c Dr. To Debtor’s A/c Cheque received from Rahul (Not deposited same day). Cash in Hand (or Cheques-in-hand) A/c Dr. To Rahul’s A/c Rahul’s cheque deposited into bank. Bank A/c Dr. To Cash in Hand (or Cheques-in-hand) A/c 5. Expense & Income Payments Paid Rent . Rent A/c Dr. To Cash A/c Paid Salaries by cheque . Salaries A/c Dr. To Bank A/c Paid Installation charges on Machinery . Machinery A/c Dr. To Cash A/c Received Commission . Cash A/c Dr. To Commission A/c Received Interest on Investment . Bank A/c Dr. To Interest A/c 6. Bad Debts & Recovery Ravi, who owed , became insolvent; only 60% recovered. Cash A/c Dr. Bad Debts A/c Dr. To Ravi’s A/c Received from a debt previously written off. Cash A/c Dr. To Bad Debts Recovered A/c 7. Goods-Related Adjustments Goods taken by proprietor for personal use . Drawings A/c Dr. To Purchases A/c Goods given away as charity . Charity A/c Dr. To Purchases A/c Goods distributed as free samples . Advertisement A/c Dr. To Purchases A/c Goods destroyed by fire . Loss by Fire A/c Dr. To Purchases A/c Insurance company admitted a claim of for the fire loss. Insurance Co. A/c Dr. To Loss by Fire A/c 8. Outstanding & Prepaid Adjustments Salaries Outstanding . Salaries A/c Dr. To Salaries Outstanding A/c Rent paid in advance . Prepaid Rent A/c Dr. To Rent A/c (or Cash A/c) Accrued Interest on Investment . Accrued Interest A/c Dr. To Interest A/c Commission received in advance . Commission A/c Dr. To Commission Received in Advance A/c 9. Depreciation & Interest on Capital Provide Depreciation on Machinery @ 10% on . Depreciation A/c Dr. To Machinery A/c Interest allowed on Capital @ 6% on . Interest on Capital A/c Dr. To Capital A/c Interest charged on Drawings . Drawings A/c Dr. To Interest on Drawings A/c 10. Advanced Trade Discount & GST Bought goods list price at 10% Trade Discount. Purchases A/c Dr. To Cash/Creditor A/c Sold goods list price at 20% Trade Discount. Cash/Debtor A/c Dr. To Sales A/c Purchased goods for plus CGST & SGST @ 6% each. Purchases A/c Dr. Input CGST A/c Dr. Input SGST A/c Dr. To Cash A/c Sold goods for plus CGST & SGST @ 6% each. Cash A/c Dr. To Sales A/c To Output CGST A/c To Output SGST A/c 11. Miscellaneous Transactions Paid Income Tax . Drawings A/c Dr. To Cash A/c Paid Life Insurance Premium . Drawings A/c Dr. To Cash A/c Proprietor introduced additional capital . Cash A/c Dr. To Capital A/c Bank charges debited by bank . Bank Charges A/c Dr. To Bank A/c Interest charged by bank on overdraft . Interest on Overdraft A/c Dr. To Bank A/c Paid Cartage on goods purchased . Cartage A/c Dr. To Cash A/c Purchased Stationery for office use . Printing & Stationery A/c Dr. To Cash A/c Sold old furniture (Book Value . Cash A/c Dr. Loss on Sale of Furniture A/c Dr. To Furniture A/c Goods returned by a customer (List Price , Trade Discount 10%). Sales Return A/c Dr. To Customer’s A/c Personal Accounts: Debit the receiver, credit the giver

To download this as a , copy this text into a Word document and select "Save as PDF." If you need more help, I can: Explain GST adjustments in detail Provide Ledger posting for these entries Create a Trial Balance based on this data What should we work on next? 50 Journal Entries with Solutions 1