Question

opened bank account with H.D.F.C
make journal entries

Answer 1

Bank (HDFC) A/c Dr. ....50000

To cash A/c ...50000

(Being a/c opened with HDFC )

Answer 2

Answer:

The bank account will be debited and the cash account will be credited for opening a bank account in HDFC bank.

Explanation:

Bank account                              Dr. xxx

To cash account                                               xxx

(Being a bank account opened in HDFC bank)

Meaning of journal:

• Journal refers to books of original entries.

• In which monetary transactions are noted down for the first time in chronological order.

• The word Jour in Journal is derived from the French word which means diary.

• A journal is a daily record book in which daily transactions are recorded for the first time.

• A journal records both debit and credit aspects of transactions according to the double entry system.

• It provides a basis for posting into the ledger.

• The transactions are recorded on a permanent basis which acts as evidence in case of emergency.

• Each entry in the journal is followed by a brief explanation of the transactions which is called Narration.

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