WHAT ARE "PURCHASES" IN ACCOUNTING? BASIC ACCOUNTING TERMS.

Transcript

00:00Hello guys, this is Sonia Setia, your accounts and eco-tutor.

00:03Number 13, we have purchases.

00:05We were doing basic accounting terms for class 11 students.

00:09Purchases क्या है?

00:10It means when a firm buy goods or raw material,

00:13चाहिए तो वो resale के लिए लिया as it is,

00:15चाहिए हम manufacturing करने वाले हैं,

00:17raw material का further processing करके उन goods को बेचने वाले हैं, right?

00:21तो ये क्या हो सकती है?

00:23Purchases, cash purchases भी हो सकती है, credit purchases भी हो सकती है.

00:26जब आपने cash दिया immediate, तो आप cash purchases बोलते हूँ,

00:29जब आपने अभी पैसा नहीं दिया है,

00:32बाद में देने वाले हो, that is known as credit purchases.

00:35Journal entries, तोनों के लिए क्या हो जाएंगी?

00:37Cash के लिए, purchases account, debit to cash account.

00:40Purchases are expense, that's why I have debited it,

00:43and cash is my asset, it's decreasing, that's why I have credited it.

00:48And credit purchases के लिए क्या हो जाएंगी?

00:56क्या राहूल क्या बन गया?

00:57मेरा creditor बन गया, इसलिए मैंने credit कर दिया.

00:59Thank you so much.