Documentos de Académico
Documentos de Profesional
Documentos de Cultura
and Conventions
What do you mean by Accounting Principles.
1.
2.
3.
Kinds of Accounting
Principles
Concepts
1.
2.
3.
4.
5.
6.
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8.
9.
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13.
Entity Concept
Cost Concept
Going Concern Concept
Accounting Period Concept
Money Measurement
Dual Aspect Concept
Accounting Equivalent
Matching Principle
Verifiable Objects
Realization Concept
Capital Concept
Accrual concept
True legal position
Conventions
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2.
3.
4.
Disclosure Convention
Materiality Convention
Consistency Convention
Conservation Convention
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Types of Accounts
Personal Accounts
Natural
Person
Artificial
Person
Impersonal Accounts
Representative
person
Tangible Assets
Real
Accounts
Nominal
Accounts
Intangible Assets
Journal
Meaning of Journal:
Specimen/Proforma Of Journal
Journal Entries in the Books Of --------Date
Particulars
L.
F.
Debit
Credit
(Rs.)
(Rs.)
a)
b)
c)
d)
e)
3.
4.
Debit Amount: This column carries the amount against the account
which has been debited.
5.
The total of both the debit and the credit side of each page
is calculated and carried forward to the next page.
The balance at the end of the page is indicated by c/f
which means carried forward Or by b/f as brought
forward.
The balance in the beginning of the next page is indicated
by b/d which means bought down.
Dr.
What comes in
Cr.
What goes out
Personal Account
Dr.
The receiver
Cr.
The giver
Nominal Account
Dr.
All expenses
& losses
Cr.
All incomes &
gains
Journal Entries
1st Jan: Commenced business with cash Rs. 1,00,000/-, stock Rs. 5,000/and furniture Rs.13,000/3rd Jan: Goods purchased from Hari Rs.8,000/5th Jan: Sold goods to Narendra Rs.4,000/6th Jan:Goods for Rs.2,000/- bought from Hari was returned.
7th Jan: Sold goods to Zain for cash Rs.6,000/9th Jan: Goods worth Rs.1,000/- sold to Narendra were returned by him.
10th Jan: Paid salary to Ashok Rs.1,500/11th Jan: Rent paid in advance Rs.500/12th Jan: Paid to Hari Rs.5950/- in full settlement of his account.
13th Jan: Received cash from Narendra, after a discount of Rs100/-, in
full settlement of his account.
14th Jan: Sunil, a debtor for Rs. 2,000/- was declared insolvent and only
45paise in a rupee could be recovered from his private estate.
15th Jan: Withdrew goods of Rs.300/- and cash Rs.500/- for private use.
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18th Jan: The salary for 3 months amounting to Rs.1,200/- is due ( not
yet paid)
19th Jan: Sold to Mohit goods worth Rs.5,000/- at 10% trade discount,
it was also decide to offer him a discount of 2% at the time of payment.
The payment was made on 25th Jan.
20th Jan: Goods worth Rs.300/- stolen by the employees, goods worth
Rs.500 was given as charity and goods worth Rs. 400/- distributed as
free samples.
21st Jan: Purchased Office equipments for Rs.8,000/-, Land Rs.15,000/and Machinery Rs.20,000/31st Jan: Depreciation on furniture @ 10%p.a.
Opened a current a/c with bank Rs. 2000
Received Interest in advance for three months Rs. 400
Paid in wages by cheques Rs. 500