Question

Opened a bank account and deposited cash in bank.....double entry system

Answer 1

The current transaction affects two accounts...cash a/c . because We are paying cash ,Bank a/c)... because We are opening an account..

The golden rules of accounting are...

Personal Account - Debit the receiver credit the giver

Nominal Account - Debit All expenses and losses, credit All incomes and gains

Real Account - Debit what comes in ,credit what goes out

Bank account ,cash accounts are Real accounts( Bank balance/cash balance is an asset; all assets and Liabilities come under Real account)

in contention with the above rules....

Bank a/c should be debited..coz cash is comingin..

cash a/c should be credited..coz ,cash is going out

So the Journal Entry will be...

Bank a/c ) Dr ××××

To cash a/c ×××××

(being bank account opened with an initial deposit)

Answer 2

Journal Entry :

Bank A/C   Dr   Rs.xxx

      To Cash A/C   Rs.xxx

(being account opened in the bank and cash deposited)