Purchased Stationery (Such As Paper) For Personal Use And For Office Use

Purchased Paper For Printing Journal Entry

If a company purchased paper for printing for cash or by cheque then the journal entry is to debit stationary account and credit cash / bank account. Here, stationary is an expense account and cash or bank account is a Current Asset.

If we purchased paper for printing on account, then we debit stationery account and credit accounts payable account instead of cash account.

Purchased stationery for personal use and for office use

If we purchased stationery for personal use for cash, then we debit Drawings Account and credit Cash Account.

Example: Purchased stationery worth 8,000 for office use and 2,000 for personal use

For Office Use

                                 Stationary a/c  Rs. 8000

 

                                                            Cash a/c  Rs. 8000

 

                                     (Office Stationery Purchased For Cash)

We debit stationary expense as it is increasing and credit cash account as it had been gone out of the business.

For Personal Use

                                       Drawings a/c  Rs. 8000

 

                                                                Cash a/c Rs. 8000

 

                                (Stationary Purchased By Proprietor For His Own Use)

 

We debit drawings account as it is the withdrawal of the owner of the business, which had been taken by the owner for his own personal use, and credit cash account.