How To Differentiate between Cash And Credit Transactions while doing Journal Entry.

 

Hi Guys!

       If you have any doubt in your mind regarding cash or Credit Transaction. Then, you have read this blog and view my new Educational video.

Here I want to share the link of my new Educational video that provide you basic rules of identifying Cash and Credit Transaction in Journal Entry.

First of all we just take a brief description of Cash and Credit Transaction.

Meaning of Cash Transaction: A cash transaction is a transaction where payment is settled immediately. Or If you buy something from a seller and pay immediately then it's a cash Transaction.

Meaning of Credit Transaction: payment for a credit transaction is settled at a later date. In other Words if we buy something from a person and gives promise to him to pay after some days at a particular date, then it's a Credit Transaction.

So, for getting knowledge about the Basic rules, you have to view my video and I really hope that this will solve all your queries regarding cash or Credit Transactions.

And, here is the Link:

https://youtu.be/AQxzWrLyIpE

So, if like then Share/like and Subscribe the channel.

#How to Identify A Cash and Credit Transaction.

Journal Entry Class XIth Accounting: Part 2 Rules Of Debit And Credit in Journal Entry

 

 Hey Guys!     

Here I m with my Part 2 of Fundamentals of Journal Entry in financial Accounting. This particular video basically related to "The Rules of Debit and Credit in Journal Entry".

What is Basic Rules of Debit and Credit in Accounting?

Rules of Debit and Credit: Here we will learn Rules of Debit and Credit on The Basis of Classification of Accounts.

1) Traditional Approach of Accounts

2) Modern Classification of Accounts.

I. traditional Classification of Accounts divided into three parts:

A) Personal Account : Related to Natural, Artificial and Representative Person.

B) Nominal Account: It is related to Income and Expenses.

C) Real Account: It is related to Assets and Liabilities.

II. Modern Classification of accounts: 

A)Assets

B) Liabilities

C)Drawings

E) Capital

F) Revenue

G) Expenses

For more Knowledge about Rules of Debit and Credit in accounting, please go the link of my video and Share/like and Subscribe the channel.

https://youtu.be/uo_1OHOBYEQ

       Here I m with my Part 2 of Fundamentals of Journal Entry in financial Accounting. This particular video basically related to "The Rules of Debit and Credit in Journal Entry".
In this video I tried to provide you a clear idea about the procedure of doing journal entry by following some Specific rules of Debit and Credit. or we can say that what rules are necessary to follow while doing a journal entry.
I provided you all the material related to The Rules in an easier language and after watching the full video, you will be able to a journal entry of a particular transaction which is done at a particular date.
In Part 3: I will discuss about the basics "Rules of Identifying a Cash and Credit Transaction".
So, please view my next video and also Watch this complete video and Do like/Share this.
And, if anyone of you not subscribed the channel then subscribe the channel at the earliest and also put your comment related to this video on my channel.

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Thanks!
#Rules Of Debit and Credit in Journal Entry.
#Traditional Approach of Classification of Accounts.
#Modern Approach of Classification of Accounts.

Journal Entry Class XIth Accounting: Part 1 Best Method to Learn the Concepts of Journal Entry.

 

Meaning of Journal:  “A Journal is the book of original entry in which, We have to follow the rules of Debit and Credit, to record all the business transactions in a chronological order.

Thus, it is also called a Book of Primary Entry.

https://youtu.be/xLufYx1MvvQ

So, for more knowledge in detail please view my full video.
            Here I m with my new educational video that is related to the Fundamentals of Journal and Journal Entry.
This is the Part 1 of Whole Series of "Journal Entries in Financial Accounting".
In this Video I tried to clear Basics of Journal Entry in an easier language.
If you are in Class XIth or In B.Com Ist Year and you have some queries in your mind about the Basics of Journal Entry, then this is the right video which helps you a lot in understanding the Basic Concepts of Journal and Journal Entry in Financial Accounting.
In this, I provided you all the basics of Journal Entry with the help of Example.
So, I really hope that After viewing the whole video there will be no doubts in your mind regarding the Fundamentals or Basics of Journal Entry.
In Part 2, We will discuss about the Rules of Debit and Credit in Journal Entry or what rules we have to follow to do a correct journal Entry.
So, if you not subscribed my channel till the time then first of all subscribe the channel at the earliest and Like/Share this video with your Friends.
For getting notification alerts related to the upcoming videos on my channel, first subscribe the channel and Click on the bell icon.
Please follow my blog also I.e. https://parasharnoteshub.blogspot.com/
And also follow my channel on LinkedIn.
So, Please put your comments related to the video on my channel.
Thanks!
#Basics of Journal and Journal Entry in Financial Accounting.
# Meaning of Journal and Journal Entry.
# Explanation of Format of Journal Entry with an example.