Golden Rules

Accounting 
It is a systematic process of identifying, recording and  classifying  financial information. It reveals profit or loss for a given period.
(यह वित्तीय जानकारी की पहचान, रिकॉर्डिंग और वर्गीकरण की एक व्यवस्थित प्रक्रिया है।  यह दी गई अवधि के लिए लाभ या हानि को प्रकट करता है।)

Types of accounts 
There are three types of accounts maintained for transactions.

• Personal A/c ( व्यक्तिगत खातें)
• Real A/c         ( वास्तविक खातें)
• Nominal A/c (नाम मात्र खातें)

1. Personal A/c 

Personal a/c are related to any person, firm, institution, organization, company .

( personal a/c किसी व्यक्ति, संस्था, संगठन , कंपनी से सम्बंधित होता है)

 For example : Ram a/c, Ravi a/c, xyz pvt. ltd., bank a/c etc.

2. Real A/c  : 

  Real A/c are related to property or goods, cash and assets.

 ( Real A/c समान, पैसा और सम्पत्ति से सम्बंधित होता है)

For Example: cash, machinery, furniture and goods.

3. Nominal A/c 

Nominal A/c are related to incomes, expenses, losses and Gains of a business.

( Nominal A/c व्यवसाय के आय और व्यय से संबंधित होता है)

For Example : salary a/c, discount, Rent, commission.

Golden Rules of Accounting 

Examples
1. Cash pay to Aditya
   Ans.  Dr. Aditya. (Dr. Receiver)
             Cr. Cash.     ( Cr.Goes out)

2. Cash received from Ram
   Ans.  Dr. Cash. ( Dr. Comes in)
             Cr. Ram.  ( Cr. Giver)

3. Purchase goods from Arun
  Ans.  Dr.  Purchase.  ( dr. Comes in)
            Cr.  Arun.          ( cr. giver)

4. Goods sale to Abhishek
   Ans.  Dr. Abhishek.  ( dr. Receiver)
             Cr.  Sale.            ( cr. Goes out)

5.  Salary pay in cash
  Ans.  Dr. Salary. ( dr. All Expenses)
            Cr.  Cash.   ( cr. Goes out)

6. Commission receive 50000 ( cash)
  Ans.   Dr. Cash.  ( dr. Comes in)
             Cr.  Commission ( cr. All incomes)

  Questions

                                                            CONTRA (F4)

1. Open a bank account in SBI and deposit cash ₹ 95000.

2. Withdraw cash from SBI ₹ 10000

3. Open a bank account on ICICI bank and transfer cash from SBI ₹ 20000.

4. Deposit cash ₹ 55000 in ICICI bank.

5. Withdraw cash from ICICI bank ₹ 12500.

6. Deposit cash into bank of Baroda ₹ 45000.

7. Transfer cash from bank of Baroda to SBI ₹ 8000.

                                                            PAYMENT (F5)

1. Cash paid for rent expense ₹ 12000.

2. Amount paid to Ashish ₹ 15000 from SBI bank.

3. Payment made to supplier ₹ 65000 50% paid in cash and 50% paid through ICICI bank.

4. Paid cash to Abc Pvt Ltd ₹ 30000 through bank of Baroda.

5. Commission paid through cash ₹ 1000.

6. Electricity bill paid through ICICI cheque ₹ 15000.

7. Paid cash to Rj Pvt Ltd ₹ 50000 through cash ₹ 35000 and SBI ₹ 15000.

                                                    RECEIPT (F6)

1. Started Business with cash ₹ 500000.

2. Received cash from Ram 125000.

3. Bonus received in cash ₹ 12000.

4. Amount received from customer ₹ 60000. 65% received in SBI bank and 35% received in cash.

5. Rent received from customer ₹ 17500 in cash.

6. Cash received from Aisect computer pvt ltd ₹ 12000.

                                                            SALE (F8)

1. Sold goods to Ramesh ₹ 45000 in cash.

2. Sold goods Rajesh ₹ 15000 at a Discount of @6.25%.

3. Sale goods to Suresh ₹ 15500 at a Discount of ₹ 1025.

4. Sold goods in cash ₹ 4550.

5. Sold goods to Sumit ₹ 95625 in cash.

6. Sold goods to Rj Pvt Ltd.

    

    Smart Watch    100pcs    4500/pcs

    Airdopes          250pcs    1700/pcs

    Mouse             125pcs    450/pcs

    Mobile             75pcs      25000/pcs

7. Sold goods to Tamesh Pvt Ltd 50% received in cash

    Bottle     500pcs    450/pcs

    Bag        650pcs    3000/pcs

    Book      450pcs    250/pcs

            

                                                            PURCHASE (F9)

1. Purchase goods from Ram Pvt Ltd ₹17500.

2. Purchase goods from Abhishek ₹ 62510.

3. Purchase goods from Tamesh Pvt Ltd ₹ 30000.

4. Purchase goods from Rashmi enterprises ₹ 15000.

5. Purchase goods from Harsh ₹ 10000.

6. Purchase goods from Ram Pvt Ltd.

    Smart watch        300psc        4300/-

     Airdopes              450pcs       1500/-

     Mouse                 325pcs        350/-

     Mobile                175pcs        20000/-

7. purchase goods from Sangam Pvt Ltd.

    Bottle       500pcs        450/-

    Bag           650pcs       3000/-

    Book         450             250/-

 

 

 

Practice questions are below 👇