Journal Entry Examples

Question 1

Journal entry for purchases

Answer 1

Dr p+l purchases

Cr bank

Question 2

Journal entries of transferring purchases to cost of sales, then to closing stock

Answer 2

Dr p+l cost of sales
Cr p+l purchases

Dr stock
Cr p+l cost of sales

Question 3

Transfer of opening stock journal entry

Answer 3

Dr P+L cost of sales

Cr stock

Question 4

If the stock figure is increasing what journal entry?

Answer 4

Debit

Decreasing is credit

Question 5

Accrual journal entry

Answer 5

Dr p+l expense (e.g electricity)

Cr accrual