Journal ledger quick revision notes
UB2020 Class 11th Accountancy · California State University, Fullerton
Updated today
Quick revision notes covering Journal, rules of debit and credit, common journal entries, Ledger, posting basics, exam tricks and MCQ practice for Class 11 Accountancy.
- Pages
- 3
- Academic year
- 2025/2026
- Language
- English
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CLASS 11 ACCOUNTANCY Journal & Ledger — Quick Revision Notes Original student-made revision material • Designed for quick exam revision 1. JOURNAL Journal is the book of original entry in which business transactions are recorded in chronological order using the rules of debit and credit. Basic format Date Particulars L.F. Debit ( n ) Credit ( n ) — Account to be debited Dr. To Account to be credited — xxx xxx 2. GOLDEN RULES OF DEBIT & CREDIT Type of Account Debit Credit Personal The receiver The giver Real What comes in What goes out Nominal All expenses & losses All incomes & gains 3. COMMON JOURNAL ENTRIES Transaction Journal entry Started business with cash Cash A/c Dr. To Capital A/c Purchased goods for cash Purchases A/c Dr. To Cash A/c Purchased goods on credit from Ravi Purchases A/c Dr. To Ravi A/c Sold goods for cash Cash A/c Dr. To Sales A/c Sold goods on credit to Neha Neha A/c Dr. To Sales A/c Paid rent Rent A/c Dr. To Cash A/c Received commission in cash Cash A/c Dr. To Commission Received A/c Paid a creditor Creditor A/c Dr. To Cash/Bank A/c Received cash from debtor Cash/Bank A/c Dr. To Debtor A/c
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