Japan Chamber of Commerce Bookkeeping Grade 3 | Everyday Transaction Entries 04

The answer is Dr. Cash 100,000 / Cr. Capital 100,000 — the entry for the proprietor putting 100,000 yen of cash into the business on opening it.

The answer is Dr. Purchases 80,000 / Cr. Accounts payable 80,000 — the entry for buying goods worth 80,000 yen on account.

The answer is Dr. Accounts receivable 120,000 / Cr. Sales 120,000 — the entry for selling goods worth 120,000 yen on account.

The answer is Dr. Accounts payable 50,000 / Cr. Ordinary deposit 50,000 — the entry for settling accounts payable of 50,000 yen by transfer from the ordinary deposit account.

The answer is Dr. Ordinary deposit 70,000 / Cr. Accounts receivable 70,000 — the entry for accounts receivable of 70,000 yen being transferred into the ordinary deposit account.

The answer is Dr. Equipment 200,000 / Cr. Other payables 200,000 — the entry for buying business equipment worth 200,000 yen on deferred payment terms.

The answer is Dr. Supplies expense 12,000 / Cr. Cash 12,000 — the entry for buying office supplies worth 12,000 yen and paying in cash.

The answer is Dr. Travel expenses 8,000 / Cr. Cash 8,000 — the entry for paying an employee's business travel fares of 8,000 yen in cash.

The answer is Dr. Cash 300,000 / Cr. Borrowings 300,000 — the entry for borrowing 300,000 yen from a bank and receiving the money in cash.

The answer is Dr. Borrowings 100,000, Interest expense 2,000 / Cr. Ordinary deposit 102,000 — the entry for repaying borrowings of 100,000 yen plus interest of 2,000 yen from the ordinary deposit account.

The answer is Dr. Suspense payments 30,000 / Cr. Cash 30,000 — the entry for handing an estimated 30,000 yen to an employee before a business trip.

The answer is Dr. Travel expenses 28,000, Cash 2,000 / Cr. Suspense payments 30,000 — the entry for settling the suspense payment of 30,000 yen, with travel costs of 28,000 yen and 2,000 yen returned.

The answer is Dr. Cash 15,000 / Cr. Suspense receipts 15,000 — the entry for receiving 15,000 yen whose purpose is unknown.

The answer is Dr. Suspense receipts 15,000 / Cr. Accounts receivable 15,000 — the entry for finding that a suspense receipt of 15,000 yen was the collection of an account receivable.

The answer is Dr. Advances paid 40,000 / Cr. Cash 40,000 — the entry for paying a deposit of 40,000 yen in cash when ordering goods.

The answer is Dr. Cash 25,000 / Cr. Advances received 25,000 — the entry for receiving an order for goods together with a deposit of 25,000 yen in cash.

The answer is Dr. Advances to employees 18,000 / Cr. Cash 18,000 — the entry for the company paying 18,000 yen in cash on behalf of an employee who should bear the cost.

The answer is Dr. Salaries 250,000 / Cr. Income tax withheld 15,000, Ordinary deposit 235,000 — the entry for paying a salary of 250,000 yen by transfer after withholding income tax of 15,000 yen.

The answer is Dr. Communication expenses 11,000 / Cr. Cash 11,000 — the entry for paying a communication charge of 11,000 yen including tax in cash, recording it on the tax-inclusive basis.

The answer is Dr. Current deposit 40,000 / Cr. Cash 40,000 — the entry for paying 40,000 yen of cash into the current deposit account.