ITT Council

How To Entered Journal Entry in the Books of Accounts Enter the following transaction in a Journal Date Transaction Amounts 15/04/2016 Zaki come in business with Cash 5,00,000 20/04/2016 Purchases Machinery by Cash 1,50,000 20/04/2016 Paid to Hamali and Transportation   25,300 25/04/2016 Purchases Furniture by Cash   35,600 01/05/2016 Purchases Raw  Material from A & T Ltd. 1,06,500 05/05/2016 Open New Currant Account in SBI    15,000 06/05/2016 Salary paid by Cash     5,000 13/05/2016 Goods Sales to Ashok Trading   75,500 20/05/2016 Received from Ashok Trading by Cheque   75,500 21/05/2016 Paid to A & T Ltd. By C...

MEANING OF ACCOUNTING The committee on terminology set up by the American institute of certified public accountants formulated the following definition of accounting in 1961. Accounting is the art of recording, classifying and summarizing in significant manner and in terms of money, transactions and events which are in part at least, of financial character and interpreting the result thereof. As per this definition accounting is simply an art of record keeping. The process of accounting start by first identifying the events and transaction which are of financial character and then be recorded in the books of account. This recording is done in journal or subsidiary books, also known as primary books. Every good record keeping system includes suitable classification of transaction and events as well as their summarization for ready reference. After the transaction and events are recorded, they are transferred to secondary books i.e. ledger. In ledger transactions and event...

Accounts Rules Personal Account :-             Debit the receiver              Credit the Giver. Real Account:             Debit What Come’s in,             Credit What Goes Out. Nominal Account:             Debit All Expenses and Losses,             Credit All Incomes and Gains. Personal Account : This Rule Related to Name suppose Farhan,  Zaki, Reliable, ITT Council, any Persons name, Firm, Company, Trust, etc. Transaction For Example - Purchases Goods from Sanjay Pvt. Ltd. <----- Name is Personal Account Related Cash Paid to Farhan <----- Name is Personal Account Related Furniture Purchases From Zaki House <----- Name is Personal Account Related ...

About ITT Council, Delhi ITT COUNCIL, Delhi is a registered under  Government of India , working in the field of Appointing vocational trainings Center related to Computers, Accounting, Technical Education and Entrepreneurship Development. Provide Education in Information and Technical Education and its related activity in India and out of India Also ITT COUNCIL, Delhi Take Online and offline Examination and provide Diploma, Short Term, Long Term, Courses and Degrees for Completion of IT and Technical Education and establish Education Campus.ITT COUNCIL, Delhi has taken up the initiative to promote local entrepreneurs to set up institute for providing vocational trainings to the students for their skill development. Great philosopher & scientist of all time Albert Einstein once said  "Imagination is more important than knowledge, knowledge is limited ,imagination encircles the world". These words of great visionary inspired us to start our board Information Tech...