7. Journal Entries - Problem Number : 1

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[@devikascommercemanagement]

Please make a note:
Made a mistake at
@ 16.37 Date 12th
Amrit lal a/c dr 1000
To, purchase returns 1000
@ 18.30 date 15th
Sales Returns a/c dr 200
To Arvind a/ c 200.
Both the transactions are credit. So there is no question of taking cash.
Sorry for my mistake.

[@narsimhad9348]

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[@lakshmanabanki8900]

Tq mam

[@mounyamerugu5900]

Thanks ma'am 🙂

[@auxipre6801]

Mam i have doubt. Shall i ask? Y don't we consider capital a/c as personal a/c. Becoz this is owner's equity. Always i have doubt regarding capital and drawings are come under which account.

[@dinesh1732]

@@auxipre6801 yes capital a/c is personal as per entity concept business and owner are different that is reason

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I am hotel management student I watch videos before 1 day before exam I learnd better then whole collage days😂

[@devikascommercemanagement]

Good luck 👍

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😂 True

[@saiviveksingam4084]

Broh do you have notes I'm also a hotel management student day after tomorrow I have exam

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[@ruksanamajeed2751]

Maam, I was so confused in entering these accounts...I just feel so happy right now that after seeing your video i was able to do the problems in my textboo much easier..Thank you so much Maam🙂

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eching experiences very per

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[@lyricalgamingworld]

Why?

[@theshivamsharmafilms1810]

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[@jyotisawant4836]

Science la pn ahe ka he journal

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As an science student why??? Did u need journal entries???🤔🧐

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[@srinivasgoud8393]

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[@sanjay_j8889]

Madam really thanks for this great help. I understand journal entries crystal clear only because of your teaching . Let god give you 100years of life for you teaching career. 🙏🙏👍👍

[@devikascommercemanagement]

Good luck 👍

[@shatharashiramya5363]

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Thanks for the wonderful explanation. It helped me a lot. Journal entries are the base for Ledger Posting, Trial Balance, Profit and Loss Account and Balance sheet.

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Follow this link and good luck dear Shefali👍
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Maam you've very good at explaining maam. I'm very proud to be your student in this..

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Super explanation mam. Made me to remember my accounts teacher. Thanks

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[@raghunerella9064]

Such a neat n clean explanation

[@seemanethaji1618]

I have a doubt, when goods return to aravind it is a purchase return and it is written to arvind a/c dr 1000/- to purchase return A/c 1000?

[@rowthulanavya4350]

Because of aravind returning goods it is a type of loss so debit all losses and aravind gives goods back so we gives him cash ,credit what goes out

[@sangeethajustine2255]

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Mam, superbly explained!!

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Thank you mam I finally understood journal entry thanks to you. This will help me in my exam Tomorrow.

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Hello mam, I'm a new subscriber to ur channel. I understood very clearly about journal entries and I'm very clear about that. tq so much mam for helping students through ur videos

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Crystal clear..!

[@rajkothari4232]

In the June 12th Transaction why did u mention Cash Dr.??
Since It is not mentioned on cash. I think it should be Amrits account.

[@samuelprince1312]

Yes right

[@VenkateshVenky-ob5mk]

Bro this is which unit??

[@shivangiverma1836]

Yeah I was thinking the same

[@shivangiverma1836]

And also in june 15 transaction

[@lynx15812]

Good thing I didn't make another comment... coz I too have this same doubt.

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Nice class madam. Now only I understood journal entry system. Thanks

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[@devikascommercemanagement]

It's my pleasure
Practice well👍

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Exactly after 12 hours i'll be writing my exam and now i am studying than u mam for teaching this easily

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Good luck Arshia👍

[@swaroopnayak7795]

Mam,
I reallly thankfull to you mam because I learned to easy in your class 3days before the exam. It's easyly understanding to me all type
1.journal entries
2.Three column Cash book
3.Trail balance so on.....
Thank you Mam😊😊

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[@savinfreefire7286]

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[@tsaisurya]

Mam, in June 15 entry when Aravind had purchased via credit why cash is used for his return goods instead of his personal account?

[@surendrad2089]

how to identify the credit transaction as u said in credit transaction we will take name where to take name and not to take

[@devikascommercemanagement]

For example "Sold goods to John" , this is credit transaction because cash is not mentioned. When cash is not mentioned we should take name.
Finally the entry will be
John's A/c Dr
To Sales A/c

[@pumpkive]

@@swethachinnamilli6771 it's also a personal a/c.so Tata LTD A/c Dr
To sales a/c

[@artscorner6769]

Thank you mam, just confused
Now all clear😊

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