Day 25 – 50 Days Accounting Challenge | Accounting Made Easy for Class 11

Accounting students ka sabse common doubt hota hai:
👉 “Entry kaunsi pass karni hai, kab aur kyun?”

Isliye Day 25 me hum real figures + real flow ke saath samjhenge:

• Last Year Balance Sheet (31-03-2025)
• Current Year Profit & Loss Account
• Current Year Balance Sheet (31-03-2026)
• Types of Entries:
  • Opening Entry
  • Closing Entry
  • Transfer Entry
  • Adjustment Entry
  • Rectification Entry

Sab kuch inter-linked hoga, taaki aapko accounting ratna nahi, balki samajhna aaye.

1️⃣ Last Year Balance Sheet (As on 31-03-2025)

📘 Balance Sheet – Previous Year

Liabilities

Particulars	Amount (₹)
Capital	5,00,000
Long-Term Loan	2,00,000
Creditors	1,20,000
Outstanding Expenses	30,000
Total	8,50,000

Assets

Particulars	Amount (₹)
Land & Building	3,50,000
Machinery	2,00,000
Furniture	80,000
Closing Stock	1,10,000
Debtors	70,000
Cash	40,000
Total	8,50,000

👉 Ye Balance Sheet naye saal ka base banti hai.

2️⃣ Opening Entry (01-04-2025)

🔹 Concept (Hinglish)

New accounting year ke start me, previous year ke assets aur liabilities ko books me lana hi Opening Entry kehlata hai.

👉 Capital balancing figure hota hai.

✍ Opening Journal Entry

Land & Building A/c      Dr.  3,50,000

Machinery A/c            Dr.  2,00,000

Furniture A/c            Dr.    80,000

Stock A/c                Dr.  1,10,000

Debtors A/c              Dr.    70,000

Cash A/c                 Dr.    40,000

   To Creditors A/c              1,20,000

   To Outstanding Exp. A/c         30,000

   To Long-Term Loan A/c          2,00,000

   To Capital A/c                 5,00,000

👉 Opening Entry sirf ek baar pass hoti hai – saal ke first day.

3️⃣ Profit & Loss Account (Year Ended 31-03-2026)

📈 Income Side

Particulars	Amount (₹)
Gross Profit	3,20,000
Commission Received	40,000
Interest Received	20,000
Total Income	3,80,000

📉 Expense Side

Particulars	Amount (₹)
Salary	1,20,000
Rent	60,000
Electricity	25,000
Depreciation	45,000
Interest on Loan	30,000
Miscellaneous Expenses	20,000
Total Expenses	3,00,000

✅ Net Profit

Net Profit = ₹80,000

4️⃣ Closing Entries

🔹 Concept (Hinglish)

Accounting year ke end par saare income aur expense accounts close karne padte hain — is process ko Closing Entries kehte hain.

✍ Closing Entry – Income

Income A/c        Dr.  3,80,000

   To P&L A/c           3,80,000

✍ Closing Entry – Expenses

P&L A/c           Dr.  3,00,000

   To Expenses A/c     3,00,000

👉 Iske baad P&L ka balance = Net Profit.

5️⃣ Transfer Entry (Profit to Capital)

🔹 Concept (Hinglish)

Profit business kamata hai, par owner ka haq hota hai.
Isliye profit Capital A/c me transfer hota hai.

✍ Transfer Entry

P&L A/c           Dr.   80,000

   To Capital A/c       80,000

6️⃣ Adjustment Entry (Matching Concept)

🔹 Example

Salary ₹10,000 outstanding hai.

✍ Adjustment Entry

Salary A/c            Dr.   10,000

   To Outstanding Salary A/c   10,000

👉 Expense bhi increase, liability bhi increase.

7️⃣ Rectification Entry (Error Correction)

🔹 Mistake

Furniture ₹15,000 ko Expense me debit kar diya gaya.

✍ Rectification Entry

Furniture A/c         Dr.   15,000

   To Misc Expense A/c      15,000

👉 Galat jagah se nikaal kar sahi jagah dalna = Rectification Entry

8️⃣ Current Year Balance Sheet (As on 31-03-2026)

📘 Balance Sheet – New Year

Liabilities

Particulars	Amount (₹)
Capital (5,00,000 + 80,000)	5,80,000
Long-Term Loan	2,00,000
Creditors	1,40,000
Outstanding Expenses	40,000
Total	9,60,000

Assets

Particulars	Amount (₹)
Land & Building	3,50,000
Machinery	1,80,000
Furniture	95,000
Closing Stock	1,30,000
Debtors	90,000
Cash	1,15,000
Total	9,60,000

9️⃣ One-Look Revision Table

Entry Type	Kab Pass Hoti Hai
Opening Entry	New year start
Closing Entry	Year end
Transfer Entry	Profit/Loss transfer
Adjustment Entry	Accrual matching
Rectification Entry	Mistake correction

🎯 Final Student Insight (Day 25)

Balance Sheet → Opening Entry → Transactions → P&L → Closing → Transfer → New Balance Sheet

Agar ye flow clear ho gaya, to accounting fear khatam.