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<p>John bought a car of 3000$ from Dj motors on credit.The above transaction is hitting two heads i.e. asset, “a car and liability, Dj motors.<br />
In john books of accounts, his assets and liabilities both are increasing so for assets he has to debit a car and for liability he has to credit Dj motors. Following journal entry will appear in his books:</p>
<p><strong><img title="2-illustration" src="http://www.soopertutorials.com/wp-content/uploads/2009/05/2-illustration.jpg" alt="2-illustration" width="500" height="80" /></strong></p>
<h5>Illustration: 2</h5>
<p> John paid electricity charges amounting to 50$ so hence john is increasing his expenses (debit) while his asset i.e. cash is decreasing (credit). Therefore entry in his books will be</p>
<p align="justify"><strong><img title="3-illustration" src="http://www.soopertutorials.com/wp-content/uploads/2009/05/3-illustration.jpg" alt="3-illustration" width="500" height="80" /> </strong></p>
<h5>Illustration:3</h5>
<p>During the year john received a dividend of 120$ from his investments in stock market. Here revenue (dividend) &; asset (cash), both are increasing so the journal entry would be as follows</p>
<p align="justify"><strong><img title="4-illustration" src="http://www.soopertutorials.com/wp-content/uploads/2009/05/4-illustration.jpg" alt="4-illustration" width="500" height="80" /></strong></p>
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<h5>Illustration: 4</h5>
<p>John withdraws 500$ from his business for his personal use. In this situation his capital is decreasing (debit) in form of drawings and his cash is also decreasing (credit).</p>
<p align="justify"><strong><img title="5-illustration" src="http://www.soopertutorials.com/wp-content/uploads/2009/05/5-illustration.jpg" alt="5-illustration" width="500" height="80" /></strong>
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