LEARN JOURNAL ENTRY WITH IN FIVE MINUTES PART 5 PLUS ONE ACCOUNT/CA/CS FOUNDATION ACCOUNTS

 LEARN JOURNAL ENTRY WITH IN FIVE MINUTES PART 5

PLUS ONE ACCOUNT/CA/CS FOUNDATION ACCOUNTS

• TREATMENT OF DEPRECIATION

1.   WITH THE HELP OF FIXED ASSETS, BUSINESS IS CARRIED ON. LIKE BUILDING,PLANT MACHINERY ETC
2. DEPRECIATION IS THE WEAR AND TEAR OF THE ASSETS
3. PERMANENT DECREASE IN THE VALUE OF THE ASSET
4. DEPRECIATION IS TREATED AS BUSINESS EXPENDITURE
5. DEPRECIATION IS DEBITED AND VALUE OF THE ASSET IS CREDITED

OPENING ENTRY UNDER JOURNAL

·         LEARN OPENING ENTRY: JOURNAL
PLUS ONE ACCOUNT

·         MEANING OF OPENING ENTRY

·         A JOURNAL ENTRY BY MEANS OF WHICH THE BALANCES OF VARIOUS ASSETS,LIABILITIES AND CAPITAL APPEARING IN THE BALANCE SHEET OF THE PREVIOUS ACCOUNTING PERIOD ARE BROUGHT FORWARD IN THE BOOKS OF CURRENT ACCOUNTING PERIOD

·         KNOWN AS OPENING ENTRY

·         THIS ENTRY IS PASSED BY DEBITING ALL ASSETS AND CREDITING ALL LIABILITIES. IF THE CAPITAL IS NOT GIVEN THEN

LEARN JOURNAL ENTRY WITH IN FIVE MINUTES PART 4 ACCOUNTS

LEARN JOURNAL ENTRY WITH IN FIVE MINUTES PART 4

ACCOUNTING FOR PLUS ONE/BBA/BCOM/MBA/CA/CS FOUNDATION

MEANING OF COMPOUND JOURNAL ENTRY

A COMPOUND JOURNAL ENTRY IS AN ACCOUNTING ENTRY WHICH EFFECTS MORE THAN TWO ACCOUNT HEADS. A SIMPLE JOURNAL ENTRY HAS ONE DEBIT AND ONE CREDIT WHERE AS A COMPOUND JOURNAL ENTRY INCLUDES ONE OR MORE DEBITS AND OR CREDITS THAN A SIMPLE JOURNAL ENTRY.

LIKE SALARY PAID ,2000,RENT PAID,1000,COMMISSION PAID 500

HERE THE COMMON PART IS CASH SO WE WILL MAKE COMPOUND ENTRY

SALARY A/C -----DR 2000

RENT A/C------- DR 1,000

COMMISSION A/C ----- DR 500

TO CASH A/C 3500

( BEING SALARIES,RENT AND COMMISSION PAID)

COMPOUND JOURNAL ENTRY

LEARN JOURNAL ENTRIES JUST IN FIVE MINUTES PART 3

LEARN JOURNAL ENTRY JUST IN FIVE MINUTES

LEARN JOURNAL ENTRIES 1 IN FIVE MINUTES ACCOUNTS

•  LEARN JOURNAL ENTRIES 1 WITH IN FIVE MINUTES
  PLUS ONE ACCOUNT
• MBA/BBA/BCOM/CA AND CS FOUNDATION BUSINESS ACCOUNTING
• RULES
• PERSONAL ACCOUNTS :- DEBIT THE RECEIVER AND CREDIT THE GIVER
• REAL ACCOUNT :- DEBIT WHAT COME IN , CREDIT WHAT GOES OUT
• NOMINAL ACCOUNT:- DEBIT ALL EXPENSES AND LOSSES AND CREDIT ALL INCOMES AND GAINS

JOURNAL

• JOURNAL
  FOR PLUS ONE ACCOUNT
• BBA/MBA/CA AND CS FOUNDATION

   MEANING

·         JOURNAL IS A BOOK OF ORIGINAL ENTRY IN WHICH ALL THE BUSINESS TRANSACTION ARE RECORDED SYSTEMATICALLY.SUCH BOOKS ARE ALSO KNOWN AS SUBSIDIARY BOOKS.IT REFLECT THE RELATION THAT EXIST BETWEEN TWO ASPECTS THAT IS DEBIT AND CREDIT

·         M.J KEELER HAS DEFINED THE JOURNAL AS A CHRONOLOGICAL RECORD OF FINANCIAL TRANSACTIONS OF A BUSINESS.

MCQS ON BASIC CONCEPTS OF ACCOUNTING FOR NET COMMERCE/MANAGEMENT

MCQS ON BASIC CONCEPTS OF ACCOUNTING FOR UGC NET COMMERCE/MANAGEMENT

• MCQS ON BASIC CONCEPTS OF ACCOUNTING
  UGC NET COMMERCE/MANAGEMENT
• MCQ
• THE LONG TERM ASSETS THAT HAVE NO PHYSICAL EXISTENCE BUT ARE RIGHTS THAT HAVE VALUE IS KNOWN AS

       I.            CURRENT ASSETS

    II.            FIXED ASSETS

 III.            INTANGIBLE ASSETS

IV.            INVESTMENTS

·         ANSWER IS iii