Topics
Introduction to Book-Keeping and Accountancy
- Accounting
- Book-Keeping
- Accountancy
- Book-Keeping vs. Accountancy
- Basis (Methods) of Accounting System
- Qualitative Characteristics of Accounting Information
- Basic Terms in Accounting
- Transaction
- Capital and Drawings
- Debtors, Creditors and Bad Debts
- Expenditure and Its Types
- Discount and Its Types
- Solvent Person vs. Insolvent Person
- Accounting Year
- Trading Concerns vs. Not for Profit Concerns
- Concept of Goodwill
- Fundamentals of Business Earnings
- Concepts of Assets, Liabilities and Net Worth
- Accounting Principles
- Accounting Concepts
- Core Accounting Concepts
- Accounting Standards
Meaning and Fundamentals of Double Entry Book-Keeping
Journal
- Accounting Documents
- Goods and Service Tax(GST)
- Types of Accounting Documents
- Voucher
- Tax Invoice (Under GST)
- Credit Memo
- Receipt
- Cheque
- Types of Cheques
- Books of Accounts
- Books of Accounts > Journal
- Journal Entries
- Journal Entries > Goods Account
- Journal Entries > Recording Discount in Journal
- Journal Entries > Other Important Journal Entries
Ledger
Subsidiary Books
- Concept of Subsidiary Books
- Cash Book
- Cash Book > Simple Cash Book (Single Column Cash Book)
- Cash Book > Two Column Cash Book (With Cash and Bank Columns)
- Cash Book > Petty Cash Book
- Simple Petty Cash Book
- Analytical Petty Cash Book
- Purchase Book
- Purchase Return Book
- Sales Book
- Sales Return Book
- Journal Proper
Bank Reconciliation Statement
- Accounting Documents Used in Banking
- Accounting Documents Used in Banking
- Pay-in-Slip
- Withdrawal Slip
- Bank Pass Book
- Bank Statement
- Bank Advice
- Concept of Virtual Banking
- Bank Reconciliation Statement(BRS)
- Cash Book vs Pass Book : Causes of Differences
- Time Difference(Regarding BRS)
- Errors and Omission Made by Bank or Businessman
- Formats of BRS
- Preparation of BRS
- Cash Book and Pass Book Comparison for Common Period
- Cash Book and Pass Book Balances for Different Periods
- Bank Balance as per Cash Book (Favourable / Debit Balance)
- Bank Balance as per Pass Book (Favourable / Credit Balance)
- Overdraft as per Cash Book (Unfavourable / Credit Balance)
- Overdraft as per Pass Book (Unfavourable/Debit balance)
- Reconciliation of Debtors and Creditors
Depreciation
Rectification of Errors
Final Accounts of a Proprietary Concern
Single Entry System
- Concept of Single Entry System
- Single Entry System vs. Double Entry System
- Parts of Single Entry System
- Statements of Affairs
- Statement of Profit or Loss
- Statement of Profit or Loss > Net Worth Method
- Practical Problems on Single Entry System
- Introduction: Capital
- Formula for Capital (Accounting Equation)
- Introduction: Drawings
- Capital vs. Drawings
- Real-Life Examples
Maharashtra State Board: Class 11
Introduction : Capital
Capital (What the Owner Puts In)
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Capital is the total money or assets the owner invests in the business.
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In business, capital is a ‘liability’ because the business must pay the value of the money/assets back to the owner if the business closes.
Maharashtra State Board: Class 11
Formula for Capital(Accounting Equation)
Capital = Assets – Liabilities
Maharashtra State Board: Class 11
Introduction : Drawings
Drawings (What the Owner Takes Out)
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Drawings are any cash or goods the owner withdraws from the business for personal use.
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Drawings reduce the business’s capital.
Maharashtra State Board: Class 11
Capital vs. Drawings
| Capital | Drawings | |
|---|---|---|
| Who | Owner → Business | Owner ← Business |
| Effect | Increases resources | Decreases capital |
Maharashtra State Board: Class 11
Real-Life Examples
| Main Point | Example |
|---|---|
| Owner invests money as capital | Riya starts a stationery shop with ₹10,000 from her savings |
| Drawings – cash withdrawal for personal use | Priya pays her mobile bill of ₹600 for herself from cake shop’s cash |
| Drawings – goods withdrawn for personal use | Rahul takes rice and oil worth ₹200 from his grocery store for home use |
| Drawings – personal expense from business | Hari’s father pays Hari’s school fees of ₹5,000 using his bookshop’s cash |
| Capital increased by further investment | Riya later adds ₹2,000 more to her stationery shop for buying a new rack |
| Drawings reduce business capital | After Priya pays a ₹600 personal mobile bill from the shop, her capital decreases |
