How to make Journal Entries | Simple Steps | Three Golden Rules | 24 Transactions |- by kauserwise

Here is the video about Journal entries for most expected 24 Transactions, with this we discussed 3 Golden Rules, what is Real Account, Personal account and Nominal account, hope this will help you to get the subject knowledge at the end. Thanks and All the best.
Due to some technical issue the video has came as monochrome mode.

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00:00 Journal Entries for 24 Transactions with 3 Golden Rules
00:12 What is Journal Entries?
00:22 What is double entry bookkeeping system?
01:42 Four important steps to prepare Journal Entries
04:28 What is Real account Golden rule?
04:39 Examples for real account
05:53 What is Personal account rule?
06:06 Examples for personal account
08:19 What is Nominal account rule?
08:41 Examples for Nominal account
09:53 list of Journal Entries for 24 Transactions
10:03 How to write Journal entry [Alice Started a business with Rs. 1,00,000]
10:14 How to identify the two accounts in Journal Entries?
11:14 How to identify real ac or personal ac or Nominal ac?
12:32 How to find out the rules for debit and credit?
13:53 How to write the entries in Journal book?
14:22 What is LF (ledger folio) in Journal book?
14:56 What is narration in journal entry?
15:28 Received Cash from Samson Rs. 25,000 How to write the Journal entry
17:10 Paid cash to Thomas How to write the Journal entry
18:26 Bought goods [Bought goods for cash Rs. 80,000] How to write the Journal entry
20:17 Purchased goods by cheque Rs. 20,000 How to write the Journal entry
22:02 Purchased furniture for Rs. 10,000 How to write the Journal entry
22:52 Bought machinery from John Rs. 75,000 How to write the Journal entry
24:33 Cash Sales Rs. 90,000 How to write the Journal entry
25:38 sales goods on credit [Sold goods to Joshua on credit Rs. 1,00,000] How to write the Journal entry
27:30 purchase goods on credit [Purchased goods from James on credit Rs. 1,50,000] How to write the Journal entry
28:31 Sales return [Return goods from Joshua Rs. 5,000 How] to write the Journal entry
30:30 Purchase return [Goods Returned to James Rs. 7,000] How to write the Journal entry
32:24 Paid Salaries Rs. 6,000 How to write the Journal entry
33:16 Rent paid by cheque Rs. 5,000 How to write the Journal entry
34:29 Commission received Rs. 5,000 How to write the Journal entry
35:26 Drawings [Alice withdrew for personal use Rs. 20,000] How to write the Journal entry
37:49 Drew cash from bank office use Rs. 5,000 How to write the Journal entry
38:58 Opened a current account with Universal bank Rs. 10,000 How to write the Journal entry
40:05 Received Cheque from Chelsea Rs. 20,000 How to write the Journal entry
41:25 Cheque received from Andrea Rs. 30,000 and Immediately banked How to write the Journal entry
42:56 Discount allowed [receive cash Rs. 24,700 from Jonus in full settlement of his account of Rs. 25,000] How to write the Journal entry
45:41 Discount Received [Paid cash to Jane Rs. 14,500 in full settlement of her account of Rs. 15,000] How to write the Journal entry
47:47 Bad debts [Martin who liable to pay us Rs. 20,000 is declared insolvent and Rs. 12,000 received from him] How to write the Journal entry
50:04 Bad debts recovered [Received cash for a Bad debts written off last year Rs. 7,500] How to write the Journal entry