Question

how can I understand journal entries for class 11

Answer 1

Answer:-

A journal entry should typically include:

Unique identifying number of the entry.

Date of the transaction.

Amount(s) to be debited and credited.

Account(s) where the debits and credits are recorded.

Name of the person making the entry.

Whether the entry on one-time or recurring..

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Answer 2

Following are some journal entries which you have to learn in 11th class.

1. Cash brought in by proprietor as capital Rs.
2. Cash Account Debit 30, 000.
3. Goods purchased on credit from Madan Lal Rs.
4. Purchase account debit 5000.
5. Madan Lal account credit 5000.
6. Furniture purchased for cash Rs.
7. Furniture Account Debit 10,000.