💎 RECORDING CHANGES IN FINANCIAL POSITION [PART : 2] 💎

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ALL ABOUT ACCOUNTING : 39th BLOG

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★ Accounting exercise and practices : 
Lesson : 3 [Part : 2]

Hi friends 🙏

Today's discuss remaining part of recording changes in financial position..... 

                                     So let's discuss ....

♤ RECORDING CHANGES IN FINANCIAL POSITION :

* Indicates, with a check mark ☑️ how the following would be recorded :

Transactions  Debit  Credit
Increase in cash       ☑️ 
Income        ☑️
Decrease in cash         ☑️
Expenses incurred      ☑️ 

* General format of journal vouchers:

Doc.no. :               Date :                          
Discretion of transactions    Debit or Credit 
Total.  :  

Lets create a journal vouchers [ JV ] of ABC ENTERPRISE against this transactions :- 

1. A goods sale of Rs .50,000 to Mr. Shyam on 06-07-2020. 

2. A goods purchase of Rs. 30,000 from Mr. Ram on 06-07-2020.

3. Receivable interest from Mr. X is Rs. 50,000 on 06-07-2020

4. Interest earned on sbi bank fixed deposit A/C is Rs. 30,000 As on 06-07-2020

5. A salaries paid to Mr. Krish is Rs. .10,000 On 06-07-2020.

6. A payable Interest to Mr. ABC. is Rs. 50,000 On 06-07-2020.

7. A transportation charges paid to Cargo transport is Rs. 2,000 On 06-07-2020

8. Rent paid for shop to Mr. XYZ is Rs. 20,000 on 06-07-2020

9. Maintenance expenses paid for shop to ABC SOCIETY  is Rs. 25,000 On 06-07-2020

10. light bill paid or payable for factory and shop is rupees 50,000 to ABC LTD. On 06-07-2020

11. Telephone ☎️ bill paid or payable is rupees 10,000 to ABC COMMUNICATION LTD. On 06-07-2020

12. Commission and brokerage paid to Mr. Cruz is Rs.10,000. On 06-07-2020.

13. Depreciation on plant and machinary is Rs. 50,000 on 06-07-2020

- prepare a journal voucher for ABC ENTERPRISE against above declare transactions as on 06-07-2020.
Doc. number :     1️⃣           06-07-2020
Description   Debit   Credit 
Sales A/C    50,000
Mr. Shyam  50,000.     
Total :  50,000   50,000

Doc. number :      2️⃣         06-07-2020
Description   Debit   Credit 
Purchase A/C  30,000   
Mr. Ram      30,000
Total :   30,000.         30,000

Doc. number :     3️⃣ 06-07-2020
Description   Debit   Credit 
Interest A/c     50,000
Mr. X  50,000      
Total :   50,000   50,000

Doc. number :     4️⃣             06-07-2020
Description   Debit         Credit 
SBI FD A/C   30,000   
Interest A/C     30,000
Total :  30,000 
   30,000


Doc. number :      5️⃣            06-07-2020
Description    Debit   Credit 
Salaries exp.   10,000   
Mr. Krish     10,000
Total :   10,000   
   10,000


Doc. number :       6️⃣            06-07-2020
Description   Debit   Credit 
Mr.ABC     50,000
Interest A/C   50,000.     
Total :   50,000   50,000


Doc. number :       7️⃣        06-07-2020
Description     Debit    Credit 
Cargo transport
   2,000
Transporting exp.    2,000    
Total :   2,000    2,000


Doc. number :        8️⃣        06-07-2020
Description      Debit   Credit 
Rent exp.    20,000    
Mr. XYZ                            20,000
Total :     20,000   20,000


Doc. number :		      9️⃣         06-07-2020
Description   Debit   Credit 
Maintanence exp.  25,000  
ABC SOCIETY          25,000
Total :  25,000   
    25,000


Doc. number :     1️⃣0️⃣           06-07-2020
Description     Debit   Credit 
Electricity exp.    50,000   
ABC LTD.     50,000
Total :    50,000   
    50,000

Doc. number :     1️⃣1️⃣           06-07-2020
Description     Debit   Credit 
Telephone exp.   10,000 
ABC COMMUNICATION LTD.     10,000
Total :    10,000   
    10,000


Doc. number :     1️⃣2️⃣           06-07-2020
Description     Debit   Credit 
Brokerage exp.    10,000   
MR. Cruz     10,000
Total :    10,000   
    10,000


Doc. number :     1️⃣3️⃣           06-07-2020
Description     Debit   Credit 
Plant and machinary A/C       50,000
Depreciation   50,000   
Total :    50,000   
    50,000







Remaining exercise and practices discuss in 40th blog... 

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