Рет қаралды 181,903
This Video will help you to understand the way the entries are passed in journal considering the rules of Debit and Credit. please follow all the videos so that your knowledge is enhanced. for the clarification, the following question is used to explain the concept
1. Rohit Started the business with cash 500000
2. Opened bank account with amount 480000
3. Bought Furniture for Rs. 60000 and issued a cheque for same
4. bought plant from Ramjee Lal for business for Rs. 125000 and advance of Rs. 10000 in cash is given
5. Goods purchased from Sumit traders Rs 55000
6. Goods Costing Rs. 25000 sold to Rajani Enterprise for Rs. 35000
7. paid monthly store rent 2500 in cash
8. paid salary to employees 5000 in cash
9. Received a cheque in full settlement from Rajani Enterprise and deposited in bank
JOURNAL
Caption: A Journal is a record of all financial transactions related to accounts, such as purchases, sales, and payments. It includes the date of the transaction, a brief description, the accounts involved, and the amounts debited or credited. It's the first place where transactions are recorded before being transferred to other financial statements, and it ensures the accuracy of the organization's financial statements.
Keywords: accounts journal, financial transactions, purchases, sales, payments, chronological record, debits, credits, source document, ledgers, trial balances, accounting process, accuracy, reliability, financial statements.
Consignment Accounting: Part 1
• Consignment Accounting...
Consignment Accounting: Part 2
• Consignment Accounting...
Consignment Accounting: Part 3
• Consignment Accounting...
JOINT VENTURE: PART 1
• JOINT VENTURE::PART 1
Types of Accounts and Accounting Process
• Lesson 3: Types of Acc...
Accounting Equation Part 1
• Lesson 5:: Accounting ...
Accounting Principles
• Lesson 2: Accounting P...
Rules of Debit and Credit
• Lesson 4:: Rules of De...
Accounting Equation-Part 2
• Lesson 6:: Accounting ...
JOURNAL
• Lesson 7:: JOURNAL
Ledger and Trial balance
• Lesson 8:: Ledger and ...
Final Account Adjustments
• Lesson 10:: Final Acco...
Trading A/c, P & L A/c and Balance Sheet
• Lesson 9:: Trading A/c...
Depreciation Accounting
• Lesson 11:: Depreciati...
Difference Between Trial Balance and Balance Sheet: Trial Balance vs Balance Sheet
• Difference Between Tri...
JOINT VENTURE: PART 2
• JOINT VENTURE::PART 2
HOW TO SOLVE FINAL ACCOUNT QUESTIONS FAST
• HOW TO SOLVE FINAL ACC...
HIRE PURCHASE: PART 1
• HIRE PURCHASE::PART 1
HIRE PURCHASE: PART 2
• HIRE PURCHASE PART 2
BRANCH ACCOUNTING: PART 1
• BRANCH ACCOUNTING::PART 1
BRANCH ACCOUNTING: PART 2
• BRANCH ACCOUNTING:: PA...
BRANCH ACCOUNTING: PART 3
• BRANCH ACCOUNTING PART 3
INVENTORY VALUATION
• INVENTORY VALUATION
Funds Flow Statement Part 1
• Funds Flow Statement P...
Funds Flow Statement Part 2 Adjustments
• Funds Flow Statement P...
Garner Vs Murray Rule: Insolvency of Partner(s)
• Garner Vs Murray Rule:...
Insolvency of All the Partners
• Insolvency of All the ...
FINANCIAL ACCOUNTING SYLLABUS OVERVIEW B.COM | B.COM (Hns)
• FINANCIAL ACCOUNTING S...
Periodic Vs Perpetual System of Inventory
• Periodic Vs Perpetual ...
Bills of Exchange Part 1
• Bills of Exchange Part 1
Bills of Exchange Part 2
• Bills of Exchange Part 2
Accounting Notes and MCQs
• Accounting Notes and MCQs
Financial Accounting Syllabus B.Com Hns
• Financial Accounting S...
Income Tax live class Series 1
• Income Tax live class ...
B.Com 1st Semester Syllabus II B.Com First Year Syllabus DU II B.Com Syllabus
• B.Com 1st Semester Syl...