Basic Journal Entry - Part 1 - Capital and Drawings - Explained with Animated Examples

In this article, We will explain to you the Basic Journal Entries and after this chapter, You will know about all journal entries which are regularly used in all business.

1. Capital:
Capital means investing anything by the owner in the business. It may be in cash or in kind.

Example: –
01/02/2018 Started Business with cash Rs. 1,00,000/-, Building 15,00,000/-, Furniture 1,75,000/-.

2. Drawing:
Drawing is anything withdrawal by the owner from the business. This is also a Basic Journal Entries.

Example:
01/02/2018 Owner Withdrawal cash Rs 10,00/- from the business for personal use

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