Hello friends, now we are ready to take the discussion of
depreciation to the practical mode and through this lecture
we will start the practical discussion of depreciation I
will present a case in front of you, you will write it, we
will solve that case on the pad first and then we will go
to teleprime and in teleprime we will see how we will
account for that case and how will be the talks related to
depreciation so first of all write with me, case 1,
depreciation case 1
A limited purchased on 1st January 2023
Certain machinery for Rs.
5,82,000 and spent Rs.
18,000 on its erection on 1st July 2023
Another machine for Rs.
2,00,000 was acquired on 1st July 2024
The machinery purchased on 1st January 2023 having become
obsolete was auctioned for Rs.
3,86,000 and on the same date, fresh machinery was
purchased at a cost of Rs.
Rate of depreciation is equal to 10% on written down value
method
Pass journal entries and prepare machinery account
Note this down Let's understand this first
There is a company named A limited
Purchased on 1st January 2023
Let's remove the word limited because companies follow 1st
April to 31st March and we are going with January because
this time I want to show you that if an organization
follows January to December then how we select our
financial year from January to December
So do one thing, do A enterprises It is an individual
business, not a company
A enterprises, its name is A enterprises Purchased on 1st
January 2023
Machinery of Rs.
Purchased on 1st January 2023 and spent Rs.
18,000 on its erection 1st July 2023
January, February, March, April, May, June
After 6 months in 2023
When date came 1st July 2023
That day another machine for Rs.
2,00,000 was acquired
Purchased another machinery for Rs.
Now after that one more year passed
When date came 1st July 2023
When date came 1st July 2024
Machinery purchased on 1st January 2023
In total Rs.
Having become obsolete Now this machine was not useful
We sold it And we got Rs.
Sir, when it was not useful
How did you get so much money by selling it
It was not useful for us, it was useful for others
It was not like it stopped working It was not useful for us
And on the same date
On 1st July 2024
Fresh machinery was purchased
At a cost of Rs.
Purchased another machinery for Rs.
If one machinery is going, you will need another one
So you purchased another machinery for Rs.
Depreciation rate is 10%
With return down value method
You have to pass journal entry
And make a machinery account
First we make a photograph of all questions
Then we will do journal entry
We will make a machinery account
Then we will reach teleprime
Come friends
Come with me Let's go with me
Let's make a photograph of all questions So that things are
understood better
We are doing the first practical case For the first time
We are doing the practical case
Of depreciation
I am doing depreciation from the very beginning
Buying assets
Then selling
Profit and loss We will make you do everything
If this is understood well
Then you will understand the case of depreciation
That's why we are taking so much time
The first date is
January 1, 2023 From where our question starts
On January 1, 2023
We purchased machinery no.
Machinery no.
1 purchased
How much did we purchase?
Rs. 5,80,000
Rs. 2,000
Rs. 5,80,000
How much did we spend on erection? For installation
We spent Rs.
In total, this machine cost us
Rs. 6,00,000
In total, this machine cost us
Rs. 6,00,000
Machinery no.
After that
On July 1 In the year 2023
January, February, March
April May and June
Months passed
And the date came
July 1, 2023
On this day
We purchased machinery no.
Machinery no.
We bought another machinery
How much did we spend?
Rs. 2,00,000
It is very important to clear the month
How many months have passed?
How many months are left?
This thing is very important
It is very necessary
On July 1, 2023
We purchased machinery for Rs.
Then what happened?
On July 1, 2023
This year will end
And the next year will also end
The date is July 1, 2023
In my case
The next date is
July 1, 2024
I have to go one year ahead
What will happen?
This year will pass
July, August, September, October, November, December
This year will end
On December 31, 2023
The next year will also start
January 1, 2024
The next year is also 6 months
March, April, June
Then the date will come
July 1, 2024
If you have to come one year ahead
Then 6 months
The next year is over
OK What will happen on July 1, 2024? On 1st July, you sold
your first machine for Rs. 3,86,000 and bought a new one
for Rs. 4,00,000.
You sold this machine for Rs. 3,86,000 and got Rs. 3,86,000.
On the same day, you purchased machinery no. 3 for Rs.
4,00,000.
Depreciation was provided for annually on 31st December at
the rate of 10%.
Now, you just have to close the year.
July, August, September, October, November, December.
This year will also be closed.
31st December, 2024.
This year will also be closed.
So, this was some information in our question.
Note down the whole photo properly.
Now, let's start with the journal entries.
I hope you will remember to follow what you have been
taught.
If you have not done the revision, please do it.
The first entry will be on 1st January, 2023.
1st January, 2023.
The total amount of machinery you are buying is Rs.
6,00,000.
The total amount of machinery you are buying is Rs.
6,00,000.
You will write here, Machinery Account Debit.
You will get Rs. 6,00,000.
But, you have to show how much Rs. 6,00,000 is.
Rs. 5,82,000 is your cost price.
Plus Rs. 18,000, you have spent on erection.
Erection is related to the machine.
But, you should know what is the breakup of Rs. 6,00,000.
So, we have to write here, to Bank Account Rs. 6,00,000.
If you have not done the payment, you will get the name of
the creator.
There is no problem in this.
Being Machinery Purchased.
And, payment made by cheque.
You have to write the number of cheque in the telly.
Payment made by cheque.
Being Machinery Purchased.
And, payment made by cheque.
This will be the entry on 1st January, 2023.
After this, 6 months have passed.
And, on 1st July, 2023, we bought another machinery.
We purchased machinery no. 2 for Rs. 2,00,000.
So, the next entry will be on 1st July, 2023.
In this, we will debit the machinery account again.
This was machinery no. 1.
This is machinery no. 2.
And, this time we are purchasing for Rs. 2,00,000.
So, here the amount will be Rs. 2,00,000.
We have also made payment for this.
As it is a big amount, you have to make payment.
You cannot delay it for a long time.
Yes, we have made this payment.
No.
No, there is a date between 1st July 23rd and 1st July 24th.
Which date is it? 31st December 2023.
This is the last date of the year.
The last date of the year.
What happens on this day?
This is the day when depreciation occurs.
You will do the entry of depreciation here.
Oh, okay sir, okay.
So you have to do the next entry on 31st December 2023.
So I write.
31st December 2023.
Here will be your next entry.
Which will be of depreciation.
Now tell me what is the entry of depreciation?
If you have read it well.
Now don't think that you will tell depreciation to
machinery quickly.
I told you the case.
I told you that if anyone asks you the entry of
depreciation in life, then tell him depreciation.
First tell me which case is it?
Is there a provision or not?
What was in our case?
There is no discussion of provision in our case.
So there is no provision for depreciation in our case.
That's why now we can easily say.
With full confidence.
Depreciation account debit to machinery account.
This will be the entry of depreciation.
Now listen friends.
What is the rate told in the question?
I am telling you to apply 10% with the return down value
method.
Okay.
So see friends.
On the first machinery, it will take 10% on 6 lakhs.
When did you buy the first machinery?
On the first day of the year.
And when are you applying depreciation? 31st December 2023.
That is the last day of the year.
So you have run the first machinery for 12 months.
That's why apply 10% on 6 lakhs.
The depreciation of the whole year will come out to 60,000.
60,000 will come out on the first machine.
But if I talk about the second machine.
Which I have.
I have bought the second machine of 2 lakhs.
I will apply 10% depreciation on it.
But only for 6 months.
Because I bought it on 1st July 2023.
And now 31st December 2023.
Means 6 months have passed.
July, August, October, November, December.
6 months have passed.
So I will apply depreciation of 6 months on it.
10% of 2 lakhs is 20,000.
Multiply by 6 divided by 12.
That will come out to 10,000.
So 60 and 10.
The total will be 70,000 rupees.
Oh, okay, sir.
No problem.
It will be 70,000.
Yes.
So depreciation account debit to machine will come.
70,000 and 70,000.
Now, sir, we have applied depreciation.
Now there is no problem.
Now we can move forward.
On 1st July 2024.
No.
If this is the case, then you broke the oath again.
I swore to you.
With the entry of depreciation to machinery.
Profit and loss account.
Debit to depreciation account.
This entry.
Don't forget.
Stay together.
Friends, you forgot.
P&L account.
Debit to depreciation account.
This entry runs.
Sticky.
4 super hit songs on Red FM.
Sticky.
With the entry of P&L to Deption to Machinery.
Sticky.
Don't forget it.
Please.
Don't forget it.
Okay, sir.
Remember.
After this.
Now you can move forward.
And on 1st July 2024.
You can enter to buy the 3rd machine.
Come on 1st July 2024.
And buy the 3rd machine.
What will we write in their narration?
Being depreciation charged.
For full year.
On machinery 1.
And for 6 months.
On machinery 2.
If you write it in full.
It will be very good in narration.
For you to understand.
When you go to teleprime again.
If you write it in full in narration.
After some time.
You will also understand.
How it was coming 70,000.
When you pass your entry.
In teleprime.
You will come back and see.
After some time.
And P&L to depreciation.
Its narration is.
Being depreciation transferred to P&L account.
TF means transferred.
Now on 1st July 2024.
You can enter to buy the 3rd machine.
1st July 2024.
Machinery account debit.
Number 3.
To bank account.
How much is the 3rd machinery.
Which we bought on 1st July 2024.
4 lakh rupees.
Machinery account debit to bank account.
4 lakh rupees.
And 4 lakh rupees.
Here you have to write.
Being machinery number 3.
Purchased and payment made by cheque.
Please like and share this video.
Thank you.
Now, on 1st July, 2024, one more thing is happening.
On 1st July, 2024, we have done this work of buying the
third machine.
On 1st July, 2024, we are going to do the sale.
And friends, now remember, in the case of sale, what is the
entry?
It has 4 parts.
PD is not there, AD is also not there.
1st case.
2nd case, PD is there, AD is not there.
3rd case, PD is not there, AD is there.
And 4th case, PD is also there, AD is also there.
Accordingly, we used to do the sale entries.
Yes, sir.
So, PD means Provision for Depreciation and AD means Asset
Disposal.
You tell, you read the whole question.
Was there any mention of PD, Provision for Depreciation?
No, sir.
Was there any mention of Asset Disposal, AD?
No, sir.
So, there is neither Provision for Depreciation nor Asset
Disposal.
There is neither PD nor AD.
So, what was the entry of sale in such a case?
Sir, in such a case, the same entry of sale was there.
In such a case, the same entry of sale was there.
Which entry?
Bank Account Debit to Machinery Account.
And how much did we sell in rupees?
We have sold in Rs. 3,86,000.
So, the entry will come.
Bank Account Debit to Machinery Account, Rs. 3,86,000.
Rs. 3,86,000.
Sir, we are able to see in our notes.
In the case of No PD, No AD, this is the entry.
Bank Account Debit to Machinery, Rs. 386,000.
I said, absolutely right, good.
But, friends, you will break a promise again.
If you have entered here,
Bank Account Debit to Machinery Account, Rs. 386,000.
You will break a promise again.
If you have entered here.
Sir, which promise has broken now?
Remember.
Remember, friends. Remember.
I had told you.
Whenever there is a sale.
So, on the first day of the year.
From 1st January, 2024.
Depreciation till the date of sale.
Don't forget to apply.
Depreciation till the date of sale.
Don't forget, friends.
I had given you this promise.
One of the three promises was also that.
When there is a sale.
So, from the first day of the year.
Depreciation till the date of sale.
We will not forget.
Look, brother.
You are selling it on 1st July, 2024.
So, till 1st January, 2024.
You have applied depreciation.
When did you enter the last depreciation?
Sir, on 31st December, 2023.
And when are you selling the machinery today?
On 1st July, 2024.
So, it has been 6 months.
Jan, Feb, March, April, May, June, 2024.
It has been 6 months of 2024.
What do you have to do?
You have to apply depreciation for 6 months.
Before that, you have to enter the sale.
Okay, sir.
Apply depreciation for 6 months.
Depreciation account debit 2.
On which machinery will you apply?
We are not selling machinery 2 and 3.
We will apply depreciation on them.
On 31st December, 2024.
We will apply depreciation on them.
Now, we are selling machinery number 1.
So, depreciation from the first day of the year.
Till the date of sale.
We will apply depreciation on machinery number 1.
So, depreciation account debit 2.
Machinery account.
Machinery number 1 account.
And how will the amount come out?
Sir, it is very simple.
Machinery number 1.
We had 6 lakhs.
Apply 10% on 6 lakhs.
And because, sir.
We have to calculate from 1st January to 1st July.
So, sir.
Multiply 6 months by 6.12.
Wrong, friends.
See, what is the method?
Method is written down value method.
Your organization follows WDV method.
Where you are doing job.
They do not give importance to straight line method.
They follow WDV method.
They follow written down value method.
What is the meaning of written down value method?
I had taught you.
The day you take out depreciation.
So, that 10% rate.
From your cost price.
After minus depreciation till date.
The remaining value will be applied on that.
So, it will not be applied on 6 lakhs.
10%.
Out of 6 lakhs.
How much depreciation you have already applied.
Remove that.
And apply 10% on the remaining value.
This is WDV method.
You want to apply 10% on 1st July, 24.
10% 100.
1st July, 24.
Okay.
And for this, what you have to do?
First, you have to take cost price.
That is 6 lakhs.
Out of that, how much depreciation you have applied till
date.
31st December, 2023.
Remove that.
How much depreciation we have applied on 6 lakhs.
60,000.
We have applied depreciation of 60,000 on 6 lakhs.
This is your run.
You have applied 10% on 6 lakhs.
60,000.
So, till 31st December, 2023.
You have applied depreciation of 60,000 on 6 lakhs.
Means, how much that machine was left? 6 lakhs minus 60,000.
Means, 5,40,000.
5,40,000.
Yes, sir.
Now, you have to apply depreciation 6 months ahead.
10% on 5,40,000.
Out of 6 times.
I got the value of 31st December, 2023.
How much I got? 5,40,000.
And I have to apply depreciation till 1st July, 2024.
So, I will apply 10% on 5,40,000.
I have to apply for 6 months.
So, I will multiply 6 by 12.
How much I will get? 27,027,000.
27,027,000.
Absolutely right.
Very good.
Well done.
Sir, now we have applied depreciation.
We have also kept the promise.
Now, we can pass the entry of sale.
We can pass the entry of sale.
Now, those people who think that they can pass the entry of
sale.
They are breaking the promise again.
Sir, what are you saying?
What promise have we broken now?
You have broken the same promise again.
P&L account debit to depreciation.
Whenever depreciation will be applied.
Whenever this entry will be done.
Deption to machinery.
Then.
P&L account debit to depreciation account.
This entry will stick together.
27,027,000.
It will stick here also.
Yes.
Okay.
It is a very important thing.
Yes.
There is no problem in teleprime.
Don't worry.
Teleprime itself passes it.
But we will make you check through the process.
As soon as you enter the deption.
Go to P&L and see if the effect has come there or not.
We will have to explain the whole process.
We will take the whole process with you.
Okay, sir.
Now, you enter the sale.
On 1st July, 2024.
In the case of no PD, no AD.
The entry of the sale is.
Bank account debit to machinery account.
How much has been sold? 3,86,000.
So here it will come.
3,86,000.
Write.
Being.
Machinery sold.
And.
Amount received by check.
Being machinery sold.
And amount received by check.
Amount received by check.
Okay, sir.
We have written here.
Written.
Very, very, very, very, very good.
This is done.
Bank to machinery.
3,86,000.
Okay, sir.
Now.
Now it will come out.
Profit or loss on sale.
When there is no AD.
When there is no asset disposal.
And if there is a profit.
What is the entry?
Machinery account.
Debit to P&L account.
And if there is a loss.
P&L account.
Debit to machinery account.
We will have to see.
We know that there is no AD.
But we will have to see.
Profit or loss.
Yes, sir.
So come on July 1, 24.
We will do the calculation.
Is there a profit or loss?
Calculation of.
Profit Oblig loss.
On sale of machinery.
Profit Oblig loss.
On sale of machinery.
Is there a profit or loss?
On the sale of machinery.
Let's see this.
For this, we need two things.
We need two things.
One we need.
How much did we sell?
Sale price.
On July 1, 24.
The day we are selling.
How much did we sell the goods? 3,86,000.
One we need this.
Got 3,86,000.
Okay.
A.
We got this.
We need one more thing.
B.
What is that thing?
What was the return down value?
Return down value of machinery.
On July 1, 24.
What was its value in our books?
We sold it for 3,86,000.
But what was its value in our books?
This should also be known.
When we will know.
What was its value in our books?
Then we will compare.
In how much did we sell?
If we sell more.
Then profit will come.
If we sell less.
Then loss will come.
So we need one more thing.
In our books.
This machinery.
In our books.
WDV.
Return down value.
What was it?
Return down value.
What was it?
How will we get it?
Very simple.
You bought it.
On January 1, 2023.
In how much money?
You bought it for 6,00,000.
Okay.
How much depreciation did you put on it in the first year?
You put 60,000.
Then you.
For the next 6 months.
When you reached July 1, 24.
Till the date of sale.
Till then how much depreciation did you put? 27,000.
So what value will be left of it?
What value will be left of it?
See.
6,00,000 minus 60,000.
Minus 27,000.
5,13,000.
However, teleprime.
it will automatically give you the value your value in
telly on 1 july 24 will be 5,13,000 you will get it in
telly prime don't worry but how it came in telly prime you
should know what software is doing you should know it is
important that we should know in our books machinery was of
5,13 minus 3,86 it was more for us and we got money it is a
loss it is a loss of 1,27,000 the loss is rupees 1,27,000
this is the loss and how it comes
B minus 5,13 minus 3,86 the loss is 1,27,000 now tell me
when there is no asset disposal we have written the entry
sir we have written the entry profit and loss account debit
to machinery account profit and loss account debit to
machinery account 1,27,000 1,27,000 write 1,27,000 and
1,27,000 write it write it we have written being
loss on sale of machinery
transfer to profit and loss account
P and L account being loss on sale of machinery transfer to
profit and loss account now my dear friends 1 july 2024
here you have entered to sell the machinery you have
entered to buy and you have entered the profit and loss and
from the first day of the year to date of sale you have
transferred it to P and L
P and L to Deption you have done all these things are you
paying attention to one thing let me make a summary let me
make a summary what all we have to do on sale number 1 from
the first day of the year from the first day of the year to
date of sale to date of sale we have to deposit
depreciation we have to charge depreciation what we have
done
Deption account debit to machinery 2,27,000 on second number
Deption account debit to machinery
Deption account debit to machinery 2,27,000 we have to
transfer it to P and L
P and L account debit to Deption you have to see this entry
in telly here also transfer word is written third thing
what we have to do we have to do sale entries we have to do
sale entries from those 4 cases 4 cases were no PD no AD
yes PD no AD no PDS AD yes PD PD yes PD PD after sale
entries 4th thing we have to do we have to do sale entries
we have to do sale entries we have to do sale entries we
have to do sale entries my dear friends government is fine
ok very very good we are the same ok
last day of your second year 31st December last day of your
second year 31st December 31st December 31st December what
we have to do we have to deposit on which machine 2 and 3
you have 2 and 3 so deposit on 2 and 3 yes and you don't
have to say you will transfer it in PNDEL write
depreciation account debit to machinery number 2 account to
machinery number 2 account and machinery number 3 account
and machinery number 3 account how much depreciation on
machinery 2 machinery 2 in how much you
sir in 2 lakhs when? 1st July 2023 in these 6 months how
much depreciation on machinery number 2 sir 10,000 31st
December 1st January what is the value of machinery number
2 2 lakhs minus 60,000 2 lakhs minus 60,000 2 lakhs minus
60,000 1 lakh 40,000 10% 14,000 1 lakh 40,000 10% 14,000 1
lakh 40,000 10% 14,000 sorry 10,000 2 lakhs depreciation
10,000 1 lakh 90,000 10% 19,000 1 January 24 31st December
when you bought machinery number 2 then you bought it on
1st July 23 so July, August, October,
December 6 months depreciation on 2 lakhs 1 January 24 31st
December 24 12 months depreciation how much depreciation 1
lakh 90,000 10% 1 lakh 90,000 10% 10,000 depreciation 10%
machinery number 3 machinery number 3 1 July 24 to 31st
December 24 6 months depreciation on 4 lakhs because we
bought on 1 July 24 6 months depreciation so 4 lakhs 10% 6
months 6 divided by 12 4 lakhs 10% 6 divided by 12 20,000
19 and 20 total depreciation 39,000 39,000 being
depreciation charged on machinery 2 for full
and on machinery 3 for 6 months and on machinery 3 for 6
months
total depreciation 39,000 39,000 don't forget profit and
loss account debit to depreciation account
profit and loss account debit to depreciation account
39,000 39,000 39,000 note it down
note it down ok
ok
yes sir ok question question pass
how can we get account on entry loan loan loan loan
former learner learner
group It is used interchangeably
Account word is also called ledger
Ledger is used interchangeably
It will be made by looking at the entries
Those who have seen ledger properly
They will understand
Machinery account, here will be debit and here will be
credit
Sir, why are you making us do this?
Tally will make it and present it to you
But you should not know how Tally made it
How Tally posted it
You should not know
Sir, you should know
Date
Particular
Amount Date, Particulars, Amount
Date, Particulars, Amount, Date, Particular, Amount
Write it all
And you have to post entries one by one
And don't do anything else
It's a very simple river
No need to dive
Just jump in the air
There is no problem
The first entry is
January 1, 2023
Machinery Account Debit to Bank Account
So here it will come
January 1, 2023
Entry in Machinery Account
Debit side
To Bank Account
How do we do leisure posting?
How do we make an account by looking at the entry?
Look, I'll give you a rule
Look at the entry
Machinery Account Debit or Credit
Like in the first entry
Machinery Account Debit in the first entry 6 Lakh Rupees
So come here in Machinery Account
And Debit side
Write 6 Lakh Rupees on the Debit side
The date will come here
Write the amount here 6 Lakh Rupees
And what will come in Particulars?
Where will this 2 Bank come from?
In your entry
Where Machinery Account is debiting
Whatever is written below that will come
What is written below? 2 Bank Account 2 Bank Account will
come here
So this is the entry
You can read your entry from here
There is nothing to eat
It was told to you at the time of leisure
There is a summary of general entries
All general entries related to one item
If the summary is written at one place
I say again
All general entries related to one item
If it is written in a summarized way
Then it becomes an account
Of that particular thing
Machinery Account
Wherever general entries are used
Taking the effect of all
Going to write at one place
So Machinery Account is being made
Ok Sir
You can also read the entry from here
What is the account?
The account is made from the entry
Here is the entry
Machinery Account
Debit 2 Bank Account
So what else is hidden in the account?
Nothing Look carefully
Machinery Account
Debit 2 Bank Account
What else is hidden in the account?
Nothing How much money? 6 Lakh Rupees
Machinery Account
Debit 2 Bank Account 6 Lakh 6 Lakh 6 Lakh Rupees
Next we will see
What is the next entry?
The next entry is
Machinery Account
Debit 2 Bank Account
Again
So how will we post this entry?
Same rule
Machinery Account
Debit 2 Lakh Rupees
So come to Machinery Account
And write Debit side 2 Lakh Rupees
And here the date will come 1st July 2023
And remember
If the year is not closed in between
If the year was closed
Then first take out the balance sheet
And then do the work next year
But now the same year is going on 2023 That's why we are
writing
No problem
Take care of the year close in between
Okay Sir
And what is written below 2 Bank Account will come there
2 Bank Account will go here
What is written below 2 Bank Account 2 Lakh Rupees
Read from here
You are making this
Machinery Account
Debit 2 Bank Account 2 Lakh Rupees
Okay Sir
The second entry is also posted
Sir, now post the third entry
Where is the third entry?
Depreciation Account Debit 2 Machinery Account
In this entry
Machinery Account
Debit or Credit 2 Machinery Account is written 2 means
Credit
Means in this entry
Machinery Account
Credit is happening 70,000 Rupees
So in Machinery Account
We will write Credit side
How much Rupees? 70,000 Rupees
And this entry is happening
Last day of the year
So the date will come 31st December 2023
Date will come 31st December 2023
Now friends
You write this 70,000 separately
How did this 70,000 come? 60,000 was of the first machine
10,000 was depreciation of the second machine
So write it separately
Write here
By Depreciation
This was machine number 1 6 Lakh Rupees
This was machine number 2
Write here
By Depreciation
Leave 70,000 outside
But inside you should know
How much is on machine 1
And how much is on machine 2
Machine 1 has 60 Rupees
And machine 2 has 10 Rupees
So this 70,000 is coming outside
This 70,000 is coming outside
Ok Sir
Ok Next Entry
Next Entry
P&L Account Debit to Depreciation
This entry will not come in your Machinery Account
Ask why friends?
In Machinery Account
The same journal entry will be posted
In which journal entry
Either Machinery Account is debiting
Or Machinery Account is getting credit
In this entry you see
Neither Machinery Account is debiting
Nor Machinery Account is getting credit
So how will it come?
How will it not come?
Ok Sir
This entry is affecting
P&L Account and Depreciation Account
It is not affecting Machinery Account
So this will not be posted in Machinery Account
This will not be posted in Machinery Account
Ok Sir
Ok Next entry will be posted
Yes In this entry
Machinery Account is debiting 4 Lakh Rupees
Below is written
To Bank Account 4 Lakh
You bought number 3
So do the same thing
Come in Machinery Account
And write Debit Side 4 Lakh
Right? Come in Machinery Account
And write Debit Side 4 Lakh
If you agree with this
Then you forgot
What I said
A little while ago
Again Oh Bro
Year ends on 31st December
Before posting next entry
In Machinery Account
Close the year
And close your account
Oh ho ho ho
On 31st December 2023
Close this account
Balance this account
In this account
Debit side total is 6 and 2 8 Lakh
And credit side total is 70,000 So from 8 Lakh
Minus 70,000
And see how much is left
Credit side
This is left
Sir 7,30,000 So write here 7,30,000 Machinery Account
Balance Is to be applied
On the last date of the year
So on the last date of the year
On 31st December 2023 We will write
Buy Balance CD 730 We have 2 Machineries 1st and 2nd
Tell me
How much balance is left
Of the 1st Machine 6 Lakh
Minus 60,000 5,40,000 How much is left
Of the 2nd Machine 2 Lakh
Minus 10,000 1,90,000 And 5,40,000
And 1,90,000
Interesting 730 will come 5,40,000 And 1,90,000
How much will come 7,30,000 will come
What is the total of this side 8 Lakh
And what is the total of this side 8 Lakh 8 Lakh 8 Lakh
And 8 Lakh
Ok Ok
Why will we put Depth Shелей
On all the machines
That are not sold
We will put
Balance on them
On the last day of the year
On 31st December
Oh Ok Yes Ok Ok Ok Now, move to the next entry
P & L to Depreciation
This entry
Will not be posted
On my machine's account
Why Why Why Why Why Why Why Why Why Why Why Just like that,
because here neither the machinery is debited nor the
credit is done.
Next entry is on 1st July, 2024.
Next entry on 1st July, 2024 is to sell machinery.
Bank account debit to machinery account 386.
Tell me friends, all my dear children, tell me.
In this entry, is the machinery account debited or credited?
Sir, it is credited with 386.
So, what will we do?
We will write the credit side as 386,000.
So, here in the machinery account, write the credit side as
386,000.
What name will you give it?
Everyone tell me.
Those who are thinking about buy bank, I would like to
congratulate them.
Your answer is absolutely correct.
In the entry, what is written above the machinery?
Will it be above or below?
If there is nothing below, then pick the one above.
If there is nothing above, then pick the one below.
Buy bank account.
And write the debit side as 2 and the credit side as 5.
You should know this.
Buy bank account 386.
This entry is only on July 1, 2024.
Next entry.
Entry of loss.
The loss of 1,27,000.
What is happening in this?
The machinery account is being credited with 1,27,000.
So, in the machinery account, we will write the credit side
as 1,27,000.
And we will write the name above it.
Buy profit and loss account.
Write July 1, 2024.
Buy P&L account.
Loss on sale of machinery.
Loss on sale of machinery is 1,27,000.
What to do after this?
See friends.
Come back to your entries after this.
What is happening now?
Depreciation on machinery number 2 and 3.
You have to put this.
Depreciation on machinery number 2 and 3.
How much? 19 and 20.
So, the credit side on the machinery account.
Here the machinery is credited.
2 machinery, 2 machinery.
Write the credit side as 19 and 20.
The name will come which is written above it.
That is, buy depreciation.
So, take this.
31 December 2024.
Buy depreciation account.
39,049,000.
Write it.
How much is on the first machine?
It is not on the first.
It has gone up by 2,27,000.
It is on the second and third machinery.
19,000 on the second and 20,000 on the third.
Total is 39,000.
Write.
Total is 39,000.
All the entries have come.
Yes.
After that, something else.
This entry.
P&L to depreciation 49,000.
This will not come.
This will not come in the machinery account.
Now find the balance of the machinery account.
Put the balance of the machinery account.
Write the total of the debit side.
How much is coming? 7, 30 and 4.
11,30,000.
How much is the total of the credit side?
Sir, this is 27,000.
Plus 3,86,000.
Plus 1,27,000.
Plus 39,000.
5,89,000.
Sir, this is 5,79,000.
Okay.
This is the step of balancing.
Write the total of the debit side.
Write the total of the credit side.
What do you have to do now?
Now you don't have to do anything.
Minus small from big.
11,30,000.
Minus 5,79,000.
5,51,000.
And write on the small side.
What is the small side?
Credit.
So write on the credit side.
5,51,000.
This is the balance of your machinery account.
At 5,50,000.
31 December 2024.
This is left.
By balance CD.
5,51,000.
Now which machines are left?
Tell me the break-up of 5,51,000.
Which machines?
Sir, some value of the second machinery is left.
And in this, the third.
How much is left of the second?
Brother, see this.
What was the value of the second machinery on 1 January 24?
1,90,000.
Pay attention to my highlighter.
On 1 January 24, the value of the second machinery was
1,90,000.
And how much debt did you put on the second machinery?
19,000.
So 1,90,000 minus 19,000.
How much is left?
1,71,000.
If I talk about my third machinery.
How much depreciation did I put on 4,00,000? 20,000.
4,00,000 minus 20.
How much is left? 3,80,000.
And you add it up and see.
3,80,000 and 1,71,000.
This will be 5,51,000.
And the total on both sides will be 11,30,000.
And 11,30,000.
The total on both sides will be the same.
11,30,000.
And 11,30,000.
It is important to have different break-ups.
Because when we analyze in Tally, we will be given
different break-ups.
So it is important to have different break-ups.
Yes, sir.
Everyone write.
Yes, sir.
Okay.
So this is the discussion of the entire case.
In this case, we learned the entry to buy.
We learned the entry of deposition.
We learned the entry to transfer.
We learned the entry of sale.
We learned to deposit and transfer from the first day of
the year to the date of sale.
We learned the profit or loss on sale.
And after that, we learned how to close the year.
Everything.
We have seen all this in the form of general entries.
And we have seen all this in the form of ledger.
That is, we have seen it by making its accounts.
We have seen it in the form of general entries.
And we have seen it in the form of accounts.
We have seen it by making its accounts.
Okay.
Now assume, for example,
I ask you to make a P&L account by looking at these entries.
Will you make it?
Yes, sir. I will definitely make it.
This will be the rule of posting till now.
This is the rule of posting.
It will not change.
Because I will also show you P&L account in Tally.
Okay, sir.
I will ask you to make a deposition account by looking at
these entries.
Will you make it?
Will you make it according to me?
In Tally, he will also make a deposition account.
In Tally, whose account will he make?
He will give us, sir.
In Tally, he will make everyone's account.
What does Tally do?
Whatever general entry you pass in Tally,
In any of the account that you write,
He makes and gives everyone's.
he will make and give the account of Machinery, will Tally
account give you? will make and give the account of bank?
Tally account will give you?
Machinnery bank has happened.
He will make an account of depreciation, machinery has
happened.
He will make an account of P&L, there will be debts,
Machinery Bank has happened.
Debtion machinery,
P&L, Debtion, Bank and my machinery has happened.
So in total Tally,
One, two, debt, P&L,
Three, four
Machinery bank will make four accounts and give it.
So I ask you to tell me what will be the effect of these
entries in the bank account
Will you tell me?
Will you tell me sir?
We will make it and show you
I ask you to make a Deption account and show me sir
We will make anything and show you
We have learned the rules of ledger posting once
So ledger posting remains the same
Yes, it was also taught to you in the chapter of ledger
That once you have learned posting, the rules are the same
How to make an account from the journal
The rules will not change
The rules never change
That's why you have a homework today
Maybe I have given you homework in many days
You have a homework
Beyond this case
You have to make a PNDEL account
Looking at these entries
Number one
Number two
You have to make a depreciation account
Looking at these entries
Okay sir
And number three
Don't make a bank
Do one thing
Leave the bank account
Or do one thing
Make a bank account
No problem
Take the opening balance of the bank account 20 lakhs
Means when you make a bank account
So write 2 balance BD here first
Bank has an asset
Its opening balance comes on the debit side
So take the asset side opening balance of 20 lakhs in the
bank balance
Then post the effect of all the entries there
Then post the effect of all the entries
So these three things
Today in your homework
My dear friends
First time
Okay Okay sir
And then we will post all these
In the upcoming lectures in teleprime
Once you practice this question by hand
Then I am saying
It will be a very good thing
It will be well in good
The whole thing will be excellent
Because friends
How much you have heard
How much you have seen
Until you yourself
By hand calculation
There will be no benefit
See you guys are completely new
We are teaching you at that level
That we have accepted
You don't know anything at all
You don't even know a little
The matter is absolutely zero
That's why we have brought you from the root
And whatever three or four hours have been applied so far
We have picked you up from the root
I have presented it at a very good level
Now it is your duty
That you take these things in grip
In a very good way
And from here too
Let's move towards the upper bracket
The upper bracket from here is the same
Do this thing practically
So it will not happen suddenly
Until you practice this thing by hand
It will not be fun
I am saying again
Depreciation is not very complicated
I explained it to you completely
You have understood it completely
You have accepted it completely
It will not be possible without revision
Please do
Revision on yourself and on me
And then
Thank you bye bye and take care