Purchased goods from Subhash on credit.
Purchased goods from Subhash on credit Rs.12,000.
Entry to buy loan goods.
We had seen in the previous clip, the entry to buy cash
goods.
Bought the goods and paid from the bank.
But what are we going to see here?
Here we are going to see the entry to buy loan goods.
Entry to buy loan goods.
Who should we buy from?
Let's buy from a person named Subhash.
Okay, fine.
Solution.
Will this affect the financial position of our business?
Yes. First, we will have assets.
I mean goods.
Our expense will increase.
And second, if you are buying a loan, our liability will
also increase.
You understand the meaning of buying a loan, right?
Our liability will also increase.
So the first step is to identify two accounts involved.
Find out which accounts are involved.
Which two accounts will be affected?
Which two things will be affected?
Goods will come.
And sir, you had told that whenever we buy goods, we deal
through the purchase account.
So very good.
First, my purchase account will increase.
Whenever you buy goods, you will write in the purchase
account.
So my purchase account will increase.
My purchase account will increase.
And in the last clip, I had made a payment from the bank.
That's why my bank balance asset was reduced.
It was reduced.
But, but, but.
I am not making a payment here.
Last time, it was coming from one hand and going from the
other.
This time, it has come and gone, so there is nothing.
Yes, my friend, I have accepted that.
But this transaction also has a second effect.
What is the second effect?
A liability called Subhash has come on your head.
A liability called Subhash has increased.
It has come, it has taken birth, it has increased.
When you buy cash, no liability takes birth.
When you buy a loan, such a liability takes birth.
Okay, okay.
So friends, purchase is your expense.
And Subhash is your liability.
What will we do if the expense increases?
We will debit, sir.
So let's do a good presentation on the second point.
Date.
Particulars.
Amount.
Rupee.
For example, this transaction is of 15th April.
15th April, 2023.
Purchase is the expense.
If it increases, then there will be a debit.
Purchase.
Account. Debit.
How much is the rupee? 12,000 rupees.
And Subhash, which is a liability.
What will happen if the liability increases?
Credit. You know this very well.
If the liability increases, there will be a credit.
If biryani is made, it will be distributed to everyone.
If the liability increases, there will be a credit.
Okay, sir.
Liability account under the name of Subhash.
Don't write liability under the name of Subhash.
Only Subhash.
To Subhash account, 12,000.
Purchase account debit.
To Subhash account, 12,000.
12,000.
Write down what we have done here.
Goods purchased, that is, T-shirts.
But this time we bought a loan.
So write that too.
Goods purchased, that is, T-shirts on credit.
From Subhash.
From Subhash, we bought a loan.
Sir, what does narration mean?
We write the transaction above in English.
Yes, this is the meaning of narration.
Write the transaction above in Hindi.
Write it in short words.
That is the meaning of your narration.
There is no other big meaning of narration.
Okay.
Let's summarize the previous clip and this.
If you buy cash, then the purchase must have been debited.
Goods.
If you buy cash, then the purchase account will be debited.
Goods.
If you buy a loan, then the purchase account will also be
debited.
How to buy goods?
Buy cash, buy a loan.
Purchase account must have been debited.
Sir, if you get it for free, then the matter is different.
If you get it for free, then you will see later.
Okay.
Just keep listening now.
And if you are buying cash, then the credit will be bank
account.
If you are paying from the bank.
And if you are paying from cash, then cash account.
And while buying a loan.
But credit will not be bank or cash.
Because you have not paid.
Neither the bank balance is less, nor the cash balance is
less.
So the name of the person will come.
He will become a liability for you.
From which you have bought goods.
He will write as a liability.
He will credit it.
Like here.
Okay sir.