How to Pass Journal Entry? | Financial Accounting for B.Com/ M.com/MBA/MSC Administrative science
In this financial accounting lecture # 8, I have discussed Basic Journal Entry Example to help M.com, B.com (1413, 1415, 444, 462) and Msc. Administrative Science students of course code 5004 to clear their concepts and learn to pass basic journal entries with the help of DEALER technique and Modern equation of Accounting (Rules of Debit and Credit). In this video following example is discussed:
1. Paid Rent Rs. 5000
2. Paid Salary Rs. 10,000
3. Cash Withdrawn for personal use Rs. 50,000
4. Paid Income Tax Rs. 70,000
5. Commission Received Rs. 25,000
6. Commission Paid Rs. 10,000
7. Purchased Computer through cheque Rs. 20,000
8. Purchased goods for cash Rs. 50,000
9. Sold Goods for cash Rs. 10,000
0. Depreciation on Machiner @ 10% on Rs 5,00,000
In order to make basic journal entries more simple for you I have grasped the techniques from saheb academy, naresh aggarwal, jolly coaching, kauserwise and many otherjournal entries tutorial explaining the concepts of Journal Entries,T-Accounts,Trial Balance,Accounting,Financial Accounting,Debits,Credits,Accountancy,Assets,Liabilities,Shareholders’ Equity,Equity,Journal Entry,accounting basics,accounting tutorial,accounting for beginners,accounting journal entry,debits and credits,accounting journal,accounting journal entries,accounting journals,journal entry in accounting,journals accounting
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