✏️ Sample Solved Problem — Journal Entries — KSLU Ethics Notes
✏️ Sample Solved Problem — Journal Entries
Problem: Pass Journal entries for the following transactions in the books of Advocate Ramesh:
- Commenced practice by depositing ₹1,00,000 into bank.
- Paid office rent ₹8,000 by cheque.
- Received fees ₹25,000 in cash from Client A.
- Purchased law books for ₹3,500 in cash.
- Paid ₹1,500 as court fees for Client B from own pocket. (Frequently asked in KSLU)
Solution — Journal of Advocate Ramesh
| # | Particulars | Dr (₹) | Cr (₹) |
|---|---|---|---|
| 1 | Bank A/c Dr. To Capital A/c (Being practice commenced with bank deposit) | 1,00,000 | 1,00,000 |
| 2 | Rent A/c Dr. To Bank A/c (Being office rent paid by cheque) | 8,000 | 8,000 |
| 3 | Cash A/c Dr. To Professional Fees A/c (Being fees received from Client A) | 25,000 | 25,000 |
| 4 | Law Books A/c Dr. To Cash A/c (Being law books purchased for office) | 3,500 | 3,500 |
| 5 | Client B’s A/c Dr. To Cash A/c (Being court fees paid on behalf of Client B) | 1,500 | 1,500 |
Rules applied:
- Entry 1 & 3: Real account (Bank/Cash comes in → Debit) + Personal account (Capital/Client → Credit)
- Entry 2 & 4: Nominal account (Rent/Books = expense → Debit) + Real account (Bank/Cash goes out → Credit)
- Entry 5: Personal account (Client B is receiver → Debit) + Real account (Cash goes out → Credit)
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