Journal Entry Examples Flashcards
1
Q
Journal entry for purchases
A
Dr p+l purchases
Cr bank
2
Q
Journal entries of transferring purchases to cost of sales, then to closing stock
A
Dr p+l cost of sales
Cr p+l purchases
Dr stock
Cr p+l cost of sales
3
Q
Transfer of opening stock journal entry
A
Dr P+L cost of sales
Cr stock
4
Q
If the stock figure is increasing what journal entry?
A
Debit
Decreasing is credit
5
Q
Accrual journal entry
A
Dr p+l expense (e.g electricity)
Cr accrual
