Accounting For Sole Proprietor Without Debit Credit

Accounting for Sole Proprietor and Single Entry /Imperfect Accounting without Debit Credit

What you'll learn

How to Prepare Profit and Loss Account and Balance Sheet of Sole Proprietor without Debit Credit

How to make use of Trial Balance to prepare financials without Debit Credit

Various Adjustments like Interest on Drawings, Interest on Capital,R.D.D. etc.

2 years profit and loss and balance sheet for better understanding of how to prepare financials

Requirements

No Prerequisite Required

Description

Sole Proprietor is basically single individual who starts any business e.g. Grocery Shop, Fruit Vendor, Local Cloth Store, Artist, Writer etc.This sole proprietor need to determine the profitability of its business and hence profit and loss account need to be prepared and also he need to understand what are its overall assets and liabilities as on particular date for which balance sheet is to be prepared.Profit and Loss account basically records transactions during the period e.g. sales during the particular period, expenses during the particular period, profit during the particular period. This period could be yearly, half yearly, quarterly etc.Balance Sheet basically records balances since start of the business e.g. accumulated cash balances since start of the business, accumulated profit since start of the business etc. It also records bank balances, cash balances, investments made, loans taken from bank, capital , payable towards suppliers etc.Students find it difficult to understand Debits Credits in accounting and hence this series will help students and learners to understand how to prepare profit and loss account, balance sheet and cash flow statement that too without Debit Credit in much simpler manner.This series will also explain trial balance and how to record each and every item of trial balance in profit and loss account and balance sheet.In this series you will also learn how to prepare profit and loss account and balance sheet for single entry system i.e. imperfect accounts.So Lets Learn accounting for Sole Proprietor that too without doing Debit Credit along with Single Entry System.

Overview

Section 1: Introduction

Lecture 1 Introduction

Lecture 2 How Balance Sheet Always Tally

Lecture 3 Accounting for Sole Proprietorship - Example 1

Lecture 4 Accounting for Sole Proprietorship - Example 2

Lecture 5 Accounting for Sole Proprietorship - Example 3

Lecture 6 Accounting for Single Entry Book Keeping - Example 1

Lecture 7 Accounting for Single Entry Book Keeping - Example 2

Lecture 8 Accounting for Single Entry Book Keeping - Example 3

Lecture 9 Accounting for Single Entry Book Keeping - Example 4

Learners of Accounting, Sole Proprietors, XI standard Commerce Students, CA , CMA foundation etc.