Hello to all my friends, in another class, Unveiling the
wheel, we move forward, let's everyone start, what will we
do, brother, without the help of journal entry, we will
learn to make accounts, we will become an expert in ledger,
one more level ahead, one more step ahead, we will take our
expertise in ledger, now how have we seen, sir, we have
seen how to make ledger through journal entry, think about
the account, which debit, which credit, make a journal
entry of the transaction, and then
journal entry, sir, we see which account is debiting, which
side is debiting, which side is crediting, we have learned
things in this way, sir, but you can also become a direct
account, skip the journal entry step and make a ledger
directly, is it possible, yes, why not, just what you have
to do, whatever journal entry is happening, you have to
think in your mind, and then you have to think that yes, it
is debiting there, so this is the debit side in this
account, it is crediting there, so it
go to the credit side in this account, you just have to
think in your mind, and you don't have to make any changes,
that's all, so when will you be able to think in your mind,
when you will be holding the command on all the entries,
you are working on the expertise level, so I believe that
you will be sitting after revising all the entries, you
will not have any trouble according to me, I will just tell
you to think in your mind instead of writing, if you are
not able to think in your mind,
understand that you are still not clear about the entries,
that's why you are having trouble in ledger, otherwise
there can be no trouble in ledger, even if you are clear
about the entries, if you are not clear, there can be a
problem, today's class will also be checking, who is clear
about the entries, someone still has to think, some people
may get such a result that they know, but they are not able
to think in their mind, so they need a little practice, so
everyone is getting a chance to
their poll today, everyone will know who is in how much
money today, let's start, write an example with me,
write an example with me, then we will put it, ok sir,
following transactions appeared in the books of Ram Manohar
Traders, prepare necessary ledger accounts,
direct ledger accounts, direct accounts, the question is
not saying anywhere, first show the journal entry, then
show the accounts, what is this black line saying, this
black line is saying, remove me, remove me, we said ok, now
it is removed, now it is removed, there is still a little
bit left, wait, now it is gone, now it is ok, direct
accounts have to be made, friends, what are the
transactions, let me show you what are the transactions,
keep writing, first write for 5-7 minutes,
Goods sold to Monika Rs.
Purchased goods from Ram Rs.
Received cash from Raj Rs.
Sir, who is Raj, if you have to take some money from him,
then he has come, it is not necessary that you have given
the transaction from the very beginning that you have to
sell, then money has come, you can go and join an office in
the middle of the month, then you will get money directly
to see that money has come, you have to do accounting
accordingly, You have to do the entry, what is the problem,
why do you worry, you just have to do the entry, what else
do you have to do, write next cash
from Hemant Rs.
And write on account,
And write the words here on full settlement,
Paid to Ram by cheque Rs.
Rent paid by cheque Rs.
Cash received from Monika Rs.
Write this page, there are many more entries,
Cash received from Monika Rs.
Cash sales Rs.
Goods returned to Ram Rs.
Cash paid to Ram in full settlement Rs.
And discount received Rs.
Goods sold to Kush,
K. U.
S. H.
Rupees 10,000
Paid for trade expenses 200 Rupees
Drawings for personal use 1000 Rupees
Goods returned from Kush
Rs. 1,200
Cash received from Kush, Rs.
Paid for stationery 100 Rupees
Paid for postage 60 Rupees
Let's move ahead
Next is salary paid 2500 Rupees
Salary paid 2500 Rupees
Third last goods, Purchased from
Goods purchased from
Sveta
Seven Thousand Rupees
Goods purchased from Shweta – Rs.
Sold goods to Kritika – Rs.
Goods purchased from Hammers Ltd – Rs.
Goods purchased from Shweta – Rs.
Goods purchased from Hammers Ltd – Rs.
Goods purchased from Shweta – Rs.
Goods purchased from Hammers Ltd – Rs.
Bills receivable – Rs.
Ram Credit Balance – Rs.
Stock – Rs.
Bills payable – Rs.
Raj Debit Balance – Rs.
Hemant Debit Balance – Rs.
Cash – Rs.
Bank Balance – Rs.
Bills receivable – Rs.
Ram Credit Balance – Rs.
Stock – Rs.
Bills payable – Rs.
Raj Debit Balance – Rs.
Hemant Debit Balance – Rs.
Goods purchased from Hammers Ltd – Rs.
So, this was the noting of the question.
Now, we will move ahead with the discussion of this
question.
We will try to make the entries in our mind as a leisure.
Ram Credit Balance – Rs.
Raj Debit Balance – Rs.
Let us go.
Let's start the real work now, that is ledger.
We will make accounts by thinking about the entry in the
brain.
Remember the opening balances.
You have to put the opening balances as well.
The opening balances that have been given to you this time.
Don't forget to keep them with you.
We will not forget sir, we will not forget.
We will follow the whole concept.
We will do everything well.
We are not going to forget it.
Give me one second.
One second, one second, one second.
Come to the first transaction.
Please come on the first transaction ladies and gentlemen.
Goods sold to Monika 3000 rupees.
Goods sold to Monika rupees 3000.
Just think in your mind.
Is it a cash sale or a loan sale?
If it was a cash sale, then cash or bank account, debit to
sales account would have entered.
Yes sir.
If it was a cash sale, then cash or bank account, debit to
sales account would have entered.
If it was a cash sale, then cash or bank account, debit to
sales account would have entered.
If there is no cash word written anywhere, then we will
consider it as a loan sale.
So in the case of loan sale, the person we sell, we debit
his account.
So we will debit Monika's account.
And according to the rule of credit all income and gain, we
will credit the sales account.
So our rule will be Monika account.
Our entry will be Monika account debit to sales account.
Now don't write all this friends.
Don't write all this my friends.
All this has to run in the mind.
Only and only in the mind.
In my mind the entry is Monika account debit to sales
account.
Monika account debit to sales account.
So Monika's account is being debited and the sales account
is being credited.
So make two accounts.
One Monika's account and one sales account.
We will put an effect in both.
One Monika's account and one sales account.
What you have to keep in mind is that there is no opening
balance.
There is no opening balance of the sales account.
And even Monika has not given you any opening balance.
Whoever has been given, we will put it.
Whoever has not been given, there is no problem.
No matter how, there is no problem.
So friends, come and write the solution.
Without entry, only the mind has to be done.
You have to do it in your mind.
So make one account, one format Monika account.
And make one format of the sales account.
And do one thing, keep two on one page.
I mean, I keep two on my one page.
For every account, on an average.
Keep a gap of 5-6 lines.
And that date particular amount, date particular amount.
We will leave that problem.
And pay attention to writing the direct entry.
We will leave that problem.
Monika account has to do debit.
So we will write debit side in Monika account, 3000.
And the sales account has to do credit.
So we will write credit side in the sales account, 3000.
Name Monika account, we will write debit side to sales
account.
And in the sales account, we will write credit side.
By Monika account.
This is the double effect.
One account is getting debit and one account is getting
credit.
One account is getting debit and one account is getting
credit.
Now, we have to wait.
Don't close it now.
Don't close it until all the entries are effective.
Wait.
It's not that you start writing buy balance CD.
Okay.
So on one side, we wrote 3000 in debit.
On one side, we wrote 3000 in credit.
Yes sir, done.
We are done.
What is the next transaction we have?
Purchased goods from Ram, 8000 rupees.
So what will be its entry?
Think in your mind.
Purchased goods from Ram.
Sir, purchase account will be debit and Ram account will be
credit.
Because whenever we buy goods, we debit the purchase
account.
When we buy cash, we credit cash or bank.
When we buy loan, we write the name of the person from whom
we are buying loan.
So it will be purchase account debit to Ram account.
Purchase account debit to Ram account.
Okay sir.
Two more accounts have taken birth.
Purchase account and Ram account.
Make two more accounts.
Purchase account and Ram account.
And Ram account.
Now friends, Monica account was made and sales account was
made.
There was nothing in these two.
Opening balance.
But there is no opening balance in the purchase account.
But there is some opening balance in the Ram account.
Look at this.
There is an opening balance of credit in Ram.
3000 rupees.
So do the first thing.
Write the opening balance on the credit side.
Buy balance brought down.
3000 rupees.
Buy balance brought down.
3000 rupees.
3000, 3000.
Now post the entry.
Purchase account debit to Ram account.
Write the debit side in the purchase account.
How much is the amount? 8000.
Write the debit side in the purchase account.
8000.
In the name of 2 Ram account.
2 Ram account.
And write the credit side in the Ram account.
8000.
In the name of buy purchase account.
This is the double effect.
Debit one account.
Credit one account.
Just keep this much in mind.
Don't think about the entry in your mind.
And if while making any account.
Its opening balance is already present.
Then put that opening balance.
And go.
Put that opening balance.
And go.
Okay.
Let's move to the next transaction.
Received cash from Raj.
9200 in full settlement.
Hmm.
Received 9200 from Raj.
And.
Full settlement.
Full settlement means.
He said my account is clear.
So we will have to take something from him.
See this.
We had to take 9700 from Raj.
Debit means.
We had to take money from him.
He was our debtor.
Raj was our debtor for 9700.
He gave 9200.
And said the account is clear.
First think about the entry in your mind.
What will be the entry?
Sir, cash account will be debited.
Money will come.
Absolutely right.
Debtor named Raj will be finished.
Asset will be finished.
So we will credit Raj.
Absolutely right.
And the discount of 500 rupees.
Sir, we.
That 500 rupees discount is a loss for us.
Debit all expenses.
And according to the rule of losses.
We will debit it.
Cash account debit 9200.
Discount allowed account debit 500.
Cash account debit 500.
To Raj account.
9700.
That means we have to make 3 accounts.
Cash account.
Discount allowed account.
And Raj account.
Cash account.
Discount allowed account.
Raj account.
Cash.
Make the cash a little bigger.
We can have more transactions of cash.
I will do it straight now.
They don't like this line.
I will do it straight now.
You also do formatting quickly.
Keep doing what you need to do one by one.
Formatting.
Did you write?
Did you do formatting?
Yes sir.
We have done formatting.
Okay.
Out of these 3.
Whose opening balance?
Cash.
Discount allowed or Raj.
Yes sir.
Cash also has 6000.
Discount is not allowed.
Raj has 9700.
First write debit side in cash account.
Cash is an asset.
Its opening balance will be debit side.
2 balance BD.
Raj is also a debtor.
We have to take money from him.
Its opening balance will also be debit side.
So how much will we write debit side in cash? 6000.
And we will write debit side in Raj.
9700.
6000 and 9700.
Opening balance is not allowed.
After writing this, now put the effect of entry, put the
effect of entry, put the effect of entry, here it is, how
much is the cash account debit, 9200, very very good,
discount allowed account debit, how much is it, 500 rupees,
very very good, 2, Raj account 9700 rupees, 2, Raj account
9700 rupees, yes sir, yes, this is right for us, yes right.
And 9700 will also be written in two pieces, 9200 separate
and 500 rupees separate, here you will write 2, Raj
account, in discount allowed you will also write 2, Raj
account, and in Raj account you will write for 9200 by cash
account, and for 500 you will write by discount allowed
account.
Write it, those who don't know, I will tell them how to do
this entry, understand it, though you don't have to write
it, write it for once, money came, asset increased, cash
account debit, how much is it, 9200.
In return of this, Raj name's asset, Raj name's debtor
which was of 9700 rupees, it was completely finished.
Asset of 9700 rupees gave only 9200 rupees, so loss of 500
rupees will be debited according to debit all losses rule,
discount allowed account debit.
So what will happen, debit side will come in cash account,
9200, we wrote debit side in cash account, 9200, in
discount allowed account debit side will come 500, in
discount allowed account debit side we wrote 500, in Raj
account credit side will come 9700, of which two pieces
will have to be written, 9200 and 500.
We have written in two pieces, by cash account 9200 and by
discount allowed account 500, 9200 and 500.
After that, cash received from Hemant 4000 on account,
means money has come from Hemant 4000 rupees, why?
We had some debt on him, on account means some debt was
going on him, we had to take some money from him, in return
of that 4000 rupees have come.
So where will we get to know, how much money we had to take
from Hemant, we will get to know in opening balance.
See, opening balance is coming from Hemant's name, 10,000
rupees, he has given 4 out of this.
So if money is coming from someone, then cash account will
be debited, which we have already made.
And the money which Hemant is giving, we will credit his
account, rule is credit the giver.
Because Hemant name's asset, which was of 10,000, from
which we were going to take money, if he has given us 4000,
then from 4000 that asset will be finished, only 6000 will
remain.
So from 4000, what you have to do, you have to credit that
asset.
Yes sir, I agree with you.
So in cash account, debit side will come, 4000 rupees, in
the name of 2 Hemant accounts.
And make Hemant account, in that first write opening
balance.
Opening Balance
Debit balance is there, debit side will come, 2 balance BD,
10,000 rupees and then write, buy cash account 4000.
Then write, buy cash account 4000, 4000, buy cash account
4000, 4000.
Paid to Ram by cheque, we have made payment to Ram for 6000
rupees from cheque.
So from Ram, we have bought 8,000 in second point.
You have entered, purchase account, debit to Ram account.
So we have made our liability by crediting Ram with 8,000
rupees.
In Ram account, liability of 3000 was already there.
And by buying 8,000 more, we have increased our liability.
From 11,000, now we are making payment of 6,000 through
cheque, we are saying take 6,000.
So we will call Ram, he will say, Ram son come here, Ram
account debit.
There is no need to get emotional and link from there.
I am saying this in the name of a casual person.
Your faith is with you, our faith is with us.
Ram account debit to bank account.
We will call Ram, Ram come here, we will debit him.
Ram account debit and payment from cheque.
So not cash, bank account will be credited.
Your bank balance will be reduced.
So if the bank balance of the name of the bank is reduced,
it will be credited.
And the liability of the name of Ram will be reduced.
From whom you have bought a loan.
The liability of the name of Ram will end.
When the liability is over, what do we do?
We debit him.
That's why the entry will be Ram account debit to bank
account.
In Ram account, the debit side will come 6000 and in the
bank account.
The credit side will come 6000.
Where is Ram account?
Here it is.
Now the color will change.
I have been writing for a long time.
In Ram account, the debit side will be written to bank
account 6000.
To bank account 6000.
And in the bank account, the credit side will be written.
I have not made a bank account, so let's make it first.
Yes, sir.
Do formatting of the bank account quickly.
Yes, sir. Done.
If there is any opening balance of this, then write it
first.
Pay attention while making a new account.
Yes, sir. There is an opening balance of 12000.
The debit side will come.
To balance BD 12000.
And now write.
The payment that we have made to Ram here.
By Ram account 6000.
In Ram account, the debit side will come 6000.
And in the bank account, the credit side will come 6000.
Okay.
Okay, sir.
Okay, I will write it in red color.
There is posting in red color.
So it will be good for matching.
By Ram account 6000.
Okay, sir.
Think about the next entry in your mind.
Rent paid by cheque.
This time also we are paying by cheque.
So the bank account will be credited.
1200 rupees.
So write the credit side in the bank account.
1200 rupees.
1200.
By what name?
By rent account.
By rent account 1200 rupees.
Okay.
And now we have to debit the rent account.
Make one more account.
By the name of rent account.
Rent is an expense that you have paid.
So what is the rule?
What do we do if there is an expense?
We debit it.
Debit all expenses.
We will write debit side in the rent account.
To bank account 1200 rupees.
Yes, sir.
Very good.
Cool.
Next transaction.
Cash received from Monika 3000.
You were selling Monika.
We had debited Monika 3000 rupees.
When we sold her, we made our asset by debiting.
That today no problem, tomorrow you will give us money.
So we debited Monika 3000 rupees.
And today is the day when Monika is giving us money.
So what will happen?
Cash account will be debited.
She is giving us cash 3000 rupees.
So we will write debit side in the cash account.
3000 rupees.
To Monika account.
And Monika account.
In which we are debiting and asking for 3000 rupees again
and again.
She has given 3000.
We will credit it and finish it.
By cash account.
3000.
Cash account will be debited from 3000.
Monika's account will be credited from 3000.
Monika will come in the name cash.
To Monika.
And Monika will come in the account by cash.
Next entry.
Cash sales 6000 rupees.
Nugget sale is going on.
Take one hand and give one hand.
Goods gone, sale is done.
Sale is income.
Credit all income and gain.
And money is coming along.
Cash balance.
Asset named cash is increasing.
We will write credit side.
Cash account will be debited.
Sales account will be credited with 6000 rupees.
Write debit side 6000 in cash account.
In the name of two sales account.
and create a sales account by the name of buy cash account
Buy cash account 6000
Yes sir
After that
Goods returned to Ram 1000 Rupees
See, what transaction is going on with Ram
Before Ram, we bought goods worth 8000
Okay sir
After that, we paid Ram 6000
Ram's balance was 3000
We bought goods worth 8000
Ram's balance was 11000
Out of which, we paid 6000
Ram's balance is 5000
Out of 5000, we are returning goods worth 1000 which we
didn't like
So, we are left with only 4000
Okay sir
So, when we bought goods from Ram
What was the entry?
Sir, we debited the purchase account
It was from 8000
And sir, we credited Ram's account
It was from 8000
Purchase account, debit to Ram account
This is the entry
And what if you return the purchased goods?
If we return the purchased goods, the entry will be reversed
Purchase account, debit to Ram
It will be replaced by Ram account, debit to
Purchase return account
Ram account, debit to
Purchase return account
It means, we will write debit side in Ram account, 1000
Rupees
We will write debit side in Ram account, 1000 Rupees
In Ram account, debit side 1000
With what name?
To purchase return account
And we will make purchase return account
In that, we will write credit side
By Ram account, 1000
Purchase return account
Is there any opening balance for purchase return?
No, sir
By Ram account, 1000 Rupees
This will be the entry
Let's change the color of the pen
By Ram account, 1000 Rupees
Next point
Cash paid to Ram in full settlement, 3700
And discount received, 300 Rupees
Try to understand this carefully, friends
We had a liability of 3000
We purchased goods worth 8000
We had a liability of 11000
Out of which, we repaid 6000
We have a liability of 5000
Out of the liability of 5000
We repaid the goods worth 1000
We have a liability of 4000
Out of the liability of 5000
We repaid the goods worth 1000
Okay? Yes, sir
After repaying the goods worth 1000
The debt of 4000 is left
My dear friends
Out of that, we are giving him 3700 Rupees 3700 And we are
saying, account is clear
We are saying, take this 3700
In full settlement
And the account is clear
What did we take for 300 Rupees?
We took a discount
What did we take for 300 Rupees?
We took a discount
While making payment
If we have got a discount
Then it is an income
What do we do with it?
We do credit
Credit, all income and gain
We will credit 300
Okay? And Ram, whom we had to pay 4000 Rupees, whose loan
was on us
His entire liability is ending
Liability ends
So we debit it
We will debit Ram's account with 4000
And the asset named cash will be reduced
Cash will be gone 3700 Rupees
So we will credit the cash account 3700 Rupees
If you want to see by writing
The entry will be something like this
Ram's entire liability will end
And debit will be done with 4000 Rupees
In return, our cash will be gone
The asset named cash will be reduced
With 3700 Rupees
And the discount of 300 Rupees
Which we are getting
That is our income
So according to the rule of credit all income and gain
We will do the discount received account
Credit Ram account debit 4000
To cash account 3700
To discount received account 300 Rupees
So friends, what to do?
Debit Ram's account with 4000
But write in both pieces 3700 and 300
So Ram account, Ram account, Ram account, Ram account
Where is it?
Here it is
Write credit side 3700 and 300
In the name of cash account
And in the name of discount received account
In the name of cash account
In the name of discount received account
And credit in cash account 3700
Write credit side in cash account 3700 In the name of buy
Ram account
Ram has been given this 3700
And make a new account
Discount received account
Make a new account
Discount received account
Write credit side in this
In the name of buy Ram account 300 Rupees
We have got discount of 300 Rupees from Ram
Buy Ram account 300 Rupees 300 Rupees
Yes sir
Okay Move towards the next entry
Pay No, no, no
Goods sold to Kush 10,000
Like Monika had done a loan sale
In the same way, Kush is doing a loan sale of 10,000 Rupees
So we have to make a new account
Kush account
Debit to sales account
This will be the entry
So in the name of Kush account
A new account will be made
Make Kush account
Any opening and closing balance in the Kush account
Sir, there is no connection in the Kush account
There is no opening and closing balance
Okay Just sell this guy
So in the Kush account
Debit side will come 10,000 Rupees
Like Monika had come in the account
While doing a loan sale
In the name of two sales account
And the sales account will be credited
In the sales account
Write credit side 10,000 Rupees
In the name of buy Kush account
Buy Kush account 10,000
Buy Kush account 10,000 Okay sir
Next
Paid for trade expenses 200 Rupees
Expenses Trade expense account
Debit to cash account
Cash account will be credited
Trade expense account will be debited
So in the cash account
First you write the credit side
How much is it?
200 Rupees
Buy trade expense account
And trade expense account will be made separately
There will be no opening balance
In that
Debit side will be credited 200 Rupees to cash account
What have you made?
Do it right
Yes Done right
Good
Do this too
This is also bulking up
Do this too
Take this
Okay
Let's go to next
Next Next Next
Drawings for personal use 1000 Rupees
Drawings account
Debit to cash account
In the entry business of investing money
Cash account
Debit to capital account
And to withdraw money
Drawings account
Debit to cash account
So in the drawings account
Debit side will come to cash
In the cash account
Credit side will come
Buy drawings 1000 Rupees
Cash account is made
Drawings account is not present
That's why drawings account will have to be made
Drawings account
How much is it? 1000 Rupees. So write debit side in
Drawings account as 1000 Rupees.
In cash account write credit side as 1000 Rupees in
Drawings account as 1000 Rupees.
When we sold KUSH for 10,000 Rupees, he is returning us
1200 Rupees.
He is returning us 1200 Rupees saying that we don't like it.
When we sold KUSH, the entry was KUSH Account Debit to
Sales Account.
Now what will be the entry?
Sales Return Account Debit to KUSH Account.
Write debit side as 1200 Rupees in KUSH Account.
Write credit side as 1200 Rupees in KUSH Account.
Write debit side as 6000 Rupees in KUSH Account.
Write credit side as 6000 Rupees in KUSH Account.
Write debit side as 1000 Rupees in KUSH Account.
Write debit side as 6000 Rupees in KUSH Account.
Write debit side as 60 Rupees in KUSH Account.
Write credit side as 60 Rupees in KUSH Account.
Write debit side as 2500 Rupees in KUSH Account.
Write debit side as 7000 Rupees in KUSH Account.
Write credit side as 7000 Rupees in KUSH Account.
Write debit side as 7000 Rupees in KUSH Account.
Write credit side as 6000 Rupees in KUSH Account.
Write debit side as 2000 Rupees in KUSH Account.
Write debit side as 6000 Rupees in KUSH Account.
Write debit side as 5000 Rupees in KUSH Account.
If anyone has anything left on the page, please note it
down.
Here, here, here, here.
If anyone has anything left on the page, please note it
down.
If anyone has anything left on the page, please note it
down.
Let's take a look at the process.