Book keeping .. plz help

zainab
zainab Registered Posts: 31 ? ? ?
hi ...

do any one know the entry for this transactions in the cash book???



Jan 2 Deposited to bank current account as initial deposit 12,000



is it in the Dr side or Cr of the cash book??


Plz help me ... :crying:

Comments

  • shawn michaels
    shawn michaels Registered Posts: 52 ? ? ?
    Dr Cash Book (Bank entry from what your saying)
    Cr Capital/Sales/VAT etc
  • zainab
    zainab Registered Posts: 31 ? ? ?
    no no no .. no vat and sales .. it is only a Deposited


    this is the entry ..
    Deposited to bank current account as initial deposit 12,000



    how to recored a Deposited?? in a cash book ..

    is it a liability?? or what?? and if I am paying a deposited to my account .. is it like my cash is decreasing ??

    so I have to cr the cash .. and Dr the deposited account??

    or

    Dr the cash Cr the deposited because it is a liability??
  • shawn michaels
    shawn michaels Registered Posts: 52 ? ? ?
    If you mean by initial deposit as an initial investment into the business then that would be classed as capital:

    So Dr Cash Book (Bank/Cash etc)
    Cr Capital

    Capital is a liability in the accounts so it's due to who ever invests into the business and withdrawn from the business via "drawings" transactions on the accounts. Hope this helps.
  • zainab
    zainab Registered Posts: 31 ? ? ?
    ok .. thanks a looooooooooot my dear .. :thumbup::thumbup:

    I hope it is the right answer :001_rolleyes:
  • mikes
    mikes Registered Posts: 254
    Deposited is another way of saying "payed into" rather than an actual ledger account.
  • zainab
    zainab Registered Posts: 31 ? ? ?
    but if I want to post it to the ledger account .. would it be in the capital acoount .. or Deposited account??


    Thanks for all of you help .. and reply :001_smile:
  • blobbyh
    blobbyh Registered Posts: 2,415
    As Shawn has already stated, both are entries on the entity's balance sheet. The cash paid in is a debit asset - deposit/current bank account - while the opposing double entry is the credit liability - capital account.

    We're correct - trust us.
  • zainab
    zainab Registered Posts: 31 ? ? ?
    Thanks ..

    :001_smile:
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