Lesson 7:: JOURNAL

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...

[@vishvendrasingh369]

Sor, You r the best teacher in the world.....😍💖💖💗lots of respect.
I m preparing for UPSC EPFO EO/AO
Thanks sir

[@ishusolanki7238]

Sir your videos are to helpful to me I'm BA +B. Com student ....thanks a lot 👏👏👏👍👍💓

[@erutanevoli]

Wow Mr. Solanki you're doing both BA & BCom at the same time, you must be lucky. Which college did you apply for? Just asking, I'm curious because i couldn't find any college which would let me attend both.

[@SKTALKS19]

@@erutanevoli I think one is from open University ..

[@Vijyoaccounts]

Thanks sir

[@pakistanfoods5340]

I am from Pakistan qasam sy sir AP bohot acha prhaty hooo thnksss again

[@nitingoel]

Check all my videos subject wise
Www.nitingoelclasses.com
😊👍
And keep promoting to support

[@naureenanjum8286]

Really thankful to make my concept clear in this boring subject. U make the subject v interesting, your method is so admirable, as u teach in a very light way which becomes v digest able for us. Thanx alot for your efforts

[@shivanipatel2986]

Abtak TH-cam k best teacher ho ap.... 🙏 Thnku so much sir 👍👍

[@everythingabouteverything895]

Sir, I hve done B.Com but have very little knowledge about it. Speaking frankly, your lectures are magical as they have taught me what teachers could not in 3 years. The bit of difficulty I witnessed was in later part of your lecture- explanation about goods, purchases and so on. Please first clarify what they meant, then it will be easy to understand their usage and significance.

[@chetnagtak3639]

Best accounting knowledge we get from your videos Sir thank you so much

[@umerahmed6678]

Thank you so much sir jee, I learned all the basic of accounting for my 11th exam through your channel, Love from Pakistan.

[@RISHABHSINGH-wg6eh]

Thank u sir it is very helpful and specialy in this time

[@farihafatima3275]

Thanks sir bht acha sa clear ho jata may Allah give a lot of happiness in your life

[@vedparkashbhardwaj9184]

Thank u sir so much for this outstanding lecture and also thanks for this cooperation with us for teaching on online platform🙇‍♂️👌👍😃☺😊🙂🤗😄

[@pooja8811]

U r the great teacher and very genus sir and u r concept is clearl,we have no drought about this concept
Thank you sir 🙏

[@PRINCEKUMAR-zc7nf]

I have never seen a teacher like u.🙏

[@kashishtiwari4674]

Your teaching method is best when I am in confusion then I see your video 🙏🙏🙏🙏

[@muqadasali8849]

Thanks sir iam Pakistani student you explained every topic very well

[@naureenanjum8286]

I have no words to say thank u.... V nice and devoted teacher

[@SanjayKumar-gc9ks]

You are best teacher for accounting thanks for my preparation 🙏🏻🙏🏻🙏🏻🙏🏻🙏🏻🙏🏻🙏🏻🙏🏻🙏🏻🙏🏻

[@SanjayKumar-gc9ks]

Sir jii you are a best teacher accounting subject

[@kbilalahmad7438]

Thank you Sir
Your Videos are informative ones
Best Wishes for you
Srinagar Kashmir

[@philoslother4602]

Sir please make a video about cash book , subsidiary cash book, bank reconciliation statement. I am very fond of your videos ! You are the best Accountancy teacher in the world I have ever seen! Please keep making these videos 🙏

[@nitingoel]

th-cam.com/play/PLenksYHIUKiT3DlwMfKTmMzEDARoKvmYs.html
Just check in this playlist. Cash book i will make soon

[@mrking7059]

You are best teacher of a world

[@kajalbano9001]

Sir you are amazing and I am preparing for bcom from your video..
Thanks sir...

[@atashah6123]

Sir you are best teacher,your lecture is very helpful from Pakistan

[@VIJ874]

Love u sir from jammu .I am from science background but i prepared for accounts assistant exam ur vedio was very helpful for me..thnks Sir

[@itismitapradhan5044]

I am your big fan ❤️ of Sir, I like so much your teaching style,it is very helpful for me because I am b.com continue

[@VinodKumar-zy9hp]

Sir, When I saw your 1st video feel good, and then I have seen 7 more videos continuous at the same time.. you are realy a good teacher Sir.. This Basic concept is very usefull for competition exams also🙏

[@shagunchauhan1099]

Sir ... I'm very glad to found your channel nd lucky also ❤️☺️ 💕

[@songskiduniya9694]

Sir best teacher for accounting

[@sammamamehmood2345]

Thanks you for your help student from Pakistan

[@kidsfunnn5664]

Thank you so much sir your videos are very helpful.

[@muhammadjunaid6862]

Sir your video is hopful for me i am student of BBA

[@neerajprakash4271]

Kudos to you

[@AartiKumari-db7mw]

Sir your explanation is very good

[@jatinjain5517]

Thank you so much sir
Very helpful for me 😊

[@ankitakumari2149]

Sir, mera ek interview tha recently, I wish maine ye Journal video phle revise kiya hota... Its too good. Rent due wale concept me mai confuse ho gayi thi.. now learnt ☺ Exp A/c.. Dr. to O/s Exp.
And one more ques was asked.
Insurance Amt from Insurance Co. (due & payment) entry.

[@shabbirindawala3952]

Superb Explanation Sir

[@kirtigupta115]

Sir ji you are the best teacher

[@kabirshaw3734]

Outstanding experience e problem hai

[@gurpreetsudan693]

Awesome

[@ankushbansal6522]

Best teachr ever🥰🥰

[@rishabhkumar9873]

Best teacher 🙏🙏

[@jagtargrewal7436]

Sir u are great

[@fahadmahesar4525]

Can we also use terms like a/c payable & a/c receivable in replace of TO (supplier name)?

[@vickykarki330]

Impressive Sir🙏🙏

[@HarishKumar-zt4hp]

Thank you sir.

[@dsingh6830]

Hello sir, my question to you was that "is loss of goods considered an expense?" Also sir, you're an excellent teacher. I am 13 years old and I live in England. My mum one day told me to learn accounting as an early start. I searched on TH-cam and found that your lesson are very easy to learn. I have been watching them since.

[@laxmibaistudies3836]

Sir you are the best...tysm for lectures..

[@tradewithiq]

Brilliant sir
You are very brief but data is in bulk

[@HarishKumar-zt4hp]

Thank you sir🙏🙏🙏.

[@bymusic793]

Bahut achha padate hai thank you

[@binodsharama9964]

Thank you sir

[@Aniketkumar-je8io]

Thank you so much,you are super super GREAT.lots of love Sir

[@vittikazade9703]

Nice video sir

[@ZIAR2008]

Sir. baaz dafa aisa bhi hota hai ki drawings ke case mein directly Drawings a/c ko debit kardetey hain. iska kia matlab hota hai ?

[@nikhilgope8728]

Thank you sar 😊

[@rashmitewari7759]

Sir in case a company itself produces goods and then there is fire in the company or factory then what will be the entry?

[@saritasharma4875]

Very easliy u describe every concept....😀

[@Abhi-oc1lr]

Sir aap bahut achha padhate hi love you sir.

[@shushmitakatyayan4055]

Sir bank statement ke dr aur credit humarey account ki dr credit ae differ hoti hai??

[@jagamohanmishra3972]

Sir what will be the journal entry for 'paid wages for installing a machinery worth ₹1000' ?

[@naureenanjum8286]

Sir please make another video on jouneral entries with some more examples to clear our concepts. I have some cofusions

[@danishkarim2615]

Sir g love from Pakistan ❤️

[@_RUMA17]

good afternoon sir
Sir entry no. 8 me cash ke liye specific nahi kha he toh to bank a/c bhi toh kar sakte he ?

[@m.ramadevi2628]

Really it helped a lot sir thq so much sir

[@meghrajmeena9043]

Super sir

[@monikac2837]

Sir please make a video on journalising of transactions relating to discount A/C

[@prantiksen4943]

Sir, drawings ki entry to ham Drawings a/c dr To Cash/goods A/c credit krte hai , Capital A/c debit to nhi krte to aapne capital ko debit kyu kiya. please explain me

[@MonuKumar-bp4ns]

Thanks sir ji

[@yasir_imba_2185]

Sir what will be journal entries for trade and cash discount paid or received

[@nitingoel]

Trade discount ki entry nahi hoti. Uske baad jo amount bachta hai agar uspe bhi cash dicount ho to Cash Dr Discount Dr and Sales Cr.
Hope samajh aaya ho aapko 😊✌.

[@shantanuparmar7841]

Nice teaching skills you make the topic very easy to remember 🙂

[@kunalpatwa]

Sir aap ne pelhe bataya tha debit the receiver credit the giver and yeha jb hum ne yeha plant purchase kara to usko debit kara and Ramji lal ko credit kara but rule to debit the receiver hota h to ramji laal ko debit q nai kara

[@apanistudy5436]

Thanku so much sir

[@yadwinderkaur6308]

Sir in fourth transaction hm asset account v likh skte hai instead of plant account??

[@dalwinderjeetkaur3152]

Sir, can you make a new video with all 4 statements together (statement of income, change in equity, Balance sheet and statement of financial position)

[@AkashMishra-ut2qx]

Thanks alot sir.. 😊

[@abidmalla3644]

got enough from ur side

[@Zahra-ue2go]

Sir ji.... net profit balance sheet k kis side m show karenge????

[@mukeshsharma-ov3cx]

I am your big friend i watch every video

[@satishkumarsatish8495]

Nice sir

[@ritikapandey2117]

Sir 6 entry m usne goods profit m sale kiya tha to uske entry ku n hue goods to bs 25000 k the 10000 ka to profit hua hme ??

[@DanishKhan-zt2wf]

Thnk You Sir ❤️

[@roshnikalme9279]

Thanks sir 🤗

[@VarunKumar-bo2zb]

Sir jo khud manufacturing krte hai us ka stock kharab ho jaye to kya journal entry kya ho gyi

[@garimasingh3475]

Aapne bahut achha samjhaya sir itna to collage me n samjh aaya

[@nitingoel]

😊🙏
Check all my videos subject wise
Www.nitingoelclasses.com
😊👍
And keep promoting to support

[@m.pradhan4919]

Sir if cash is not written in the question then it is considered as credit right.

[@vishnujha9346]

Sir my self govind jha mera ek doubts hai ki app drawings ke jarnal me capital dr. Kyo likhe vaha drawings dr. Hone chahia jaha tak mujhe mere teacher ne padhaye hai so bataea drawings dr. Hona chahia n agar nhi to drawings dr. Kyo nhi hoga

[@riteshgupta3419]

Sir 8th entry me hum employee a/c _dr
To cash a/c
Kyu nahi likh rehe h

[@fatimabanoobanoo9792]

Thank u sir

[@pirates9536]

Sir drawings wali entry mein capital ki jagah drawings bhi likh sakte hain Dr me
Or lost by theft lost by fire mein purchase cr ki jagah stock bhi likh hai

[@sitakant1028]

Sir when one draaws out an asset from the capital
What exactly he draws out??

[@sachinsrivasatava9528]

sir o/s expense me expense dr krenge aur liability cr krenge pr entry krte samay kyo nhi cr krenge

[@anshumanlakher9062]

Sir aap best teacher ho

[@anshumanlakher9062]

Super

[@anjaliprakash1729]

Sir .app ye jo accounts prdha rhe ho ye b.com kr liye ha na .sir please reply 🙏

[@kalipadapattanaik4982]

Tq sir

[@indian5117]

Ur concepts are so clear and easy to understand... thanks sir

[@anirudhmannadiar6960]

I need to know about lease entries

[@komalchandni8601]

Sir compensation paid to injured workers is expenses or loss?

[@vaishanvi1624]

👍

[@subhasisdas380]

Sir Sales Return ka kya entry hoga aur kya kya different scenario hota hai. Can you please elaborate. Thanks in advance.

[@syedahsanshah2360]

sir , how we pass entry for note payable and note receivable

[@harmanharry8230]

Sir , is this syallabus is for 1 year bcom also