Category Class-11 Accountancy

Are you looking for solution of TS Grewal book class 11 financial accounting 2024-25 edition. I have solved all the practical problems in this book and complete video available my you tube channel studynatic Meaning                     Journal is a book…

Introduction of Accounting Procedures- Rules of Debit and Credit STUDYNATIC                            Transactions are recorded in the books of account on the basis of evidences, i.e., source documents, such as invoices for purchases, invoices for sales, debit and credit notes, etc.…

Meaning of accounting equation-                                Accounting Equation is based on the Dual Aspect Concept of accounting. It means every transaction has dual aspect or two aspects – debit and credit. It holds that for every debit there is a credit…

Meaning Accounting Principal:-                                           Accounting Principal are the rules adopted by accountants universally while recording accounting transaction. They are the norms or rules which are followed in accounting of various items of assets, liabilities, expenses, income, etc. for example, Inventory…

                                              ACCOUNTING PRINCIPLE                                             Accounting Principal are the rules adopted by accountants universally while recording accounting transaction. They are the norms or rules which are followed in accounting of various items of assets, liabilities, expenses, income, etc. for example,…

                          BUSINESS TRANSACTION (STUDYNATIC)                ‘Business Transaction’ means a financial transaction or economic event entered into by two parties that initiates the accounting process of recording it in the books of account of an enterprise. It is an agreement between…

                                       WHAT IS ACCOUNTING                Accounting is a process of identifying the events of financial nature, recording them in journal, classifying in their respective ledgers, summarizing them in Profit and Loss Account and Balance Sheet and communicating the…