CBSE Class 11-commerce Answered
How to make journal
Asked by Navaljalan | 15 May, 2019, 07:24: PM
Expert Answer
The format and steps of preparing a Journal are as follows:
A. Format:
|
Journal |
||||
|
Date |
Particulars |
L.F. |
Debit ₹ |
Credit ₹ |
|
(1) |
(2) |
(3) |
(4) |
(5) |
|
|
|
|
|
|
B. Steps:
- Determine the two accounts involved in the transaction.
- Classify the accounts into assets, liabilities, capital, expenses and incomes.
- Apply the rules of debit and credit for the above two accounts and identify which account is to be debited and credited.
- Record the date of transaction, particulars of transaction and mention the respective debit and credit amounts against each item.
- Write a brief description of the transaction recorded within brackets in the next line in the particulars column. Such description is termed as narration.
- Draw a line across the particulars column to divide one journal entry from the other.
Answered by Surabhi Gawade | 16 May, 2019, 10:15: AM
Application Videos
-
Introduction to Errors and its Rectification ...
This video explains the various types of Errors along with some examples th... -
Classification and Rules of Accounts ...
This video explains the various Classifications of Accounts along with thei... -
Preparation of a Trial Balance
This video teaches the systematic process of preparing a Trial Balance from... -
Effect of Adjustment Transactions on Accounting Equatio ...
This video explains the Effect of Adjustment Transactions on Accounting Equ...
Concept Videos
-
Meaning, Attributes and Branches of Accounting ...
This video explains the Meaning, Attributes and Branches of Accounting -
Accounting Process and Role of Accounting in Business ...
This video explains the complete Accounting Process along with the Role of ... -
Objectives and Functions of Accounting
This video explains the Objectives and Functions of Accounting -
Meaning, Qualitative Characteristics and Users of Accou ...
This video explains the Meaning, Qualitative Characteristics and Users of A... -
Introduction to Accounting Principles ...
This video introduces the concept of Accounting Principles
CBSE 11-commerce - Accountancy Part I
Asked by sunilmadhe2005 | 05 Jan, 2022, 05:00: AM
ANSWERED BY EXPERTCBSE 11-commerce - Accountancy Part I
Asked by raveendranrishika | 10 Jun, 2020, 01:24: AM
ANSWERED BY EXPERTCBSE 11-commerce - Accountancy Part I
Asked by prashilanaik21 | 06 Mar, 2020, 01:37: PM
ANSWERED BY EXPERTCBSE 11-commerce - Accountancy Part I
Asked by Harjotkaur4m | 29 Feb, 2020, 10:14: PM
ANSWERED BY EXPERTCBSE 11-commerce - Accountancy Part I
Asked by malavikavimal88 | 29 Feb, 2020, 09:10: PM
ANSWERED BY EXPERTCBSE 11-commerce - Accountancy Part I
Asked by Kashishdhanani30 | 27 Feb, 2020, 02:37: AM
ANSWERED BY EXPERTCBSE 11-commerce - Accountancy Part I
Asked by diyamundra44 | 21 Feb, 2020, 03:46: PM
ANSWERED BY EXPERTCBSE 11-commerce - Accountancy Part I
Asked by sahilbajpai2001 | 11 Feb, 2020, 11:54: AM
ANSWERED BY EXPERTCBSE 11-commerce - Accountancy Part I
Asked by Vanshohri968 | 07 Feb, 2020, 10:51: AM
ANSWERED BY EXPERTCBSE 11-commerce - Accountancy Part I
Asked by Palashsaha411 | 20 Jan, 2020, 06:22: PM
ANSWERED BY EXPERT
