Answer Posted / trilochan mohapatra
when a transaction is made.that should be first recorded in
journal....in earlier days all the transaction are recorded
in one book,but now separate books are maintained to record
a particular kind of trasaction...for example:all saless
transaction(cr. sales ) are to be recorded in
salesbook..similarly all cash received and paid, are to be
recorded in cashbook....these special books are nothing,are
called subsidiary books
there are mainly 8 subsidiary books
1)purchase book(only credit purchases are to be recorded)
2)sales book (only credit sales are recorded)
{cash puchases and cash sales are to be recorded in
cashbook ..not in purchasebook and salesbook
respectively)
3)purchase return book
4)sales return book
5)bills receivable book
6)bills payable book
7)cashbook
8)journal proper
Is This Answer Correct ? | 4 Yes | 0 No |
Post New Answer View All Answers
What Kind Of Requirements for Vat Refund And Assessment Cases
sort out the difference between service provider & service reciepient from the service tax.
what happens to each of the three primary financial statements when gross margin decreases?
Which Exchange determine Foreign Exchange/Currency Rate?
What is functional area,trading partner in sap fico
how do you prepare the mis reports and prepare the one example report stating your accounts department proforma
Define capital
distinguish between Bill of Exchange and Promissory Note
MMT and MID payment how post in tally
A company acquires new taxi fleets on 1April 2006 with intention to provide services during the World Cup period and thereafter dispose the taxis .The World Cup runs for three months to 30 June 2006.The company's year end is 30 June 2006.how do you account for taxis at initial recognition .
What do you mean by Revenue? does it include the Service Tax,VAT etc., by any chance ?
what are the content of purchase order?
differnce between the 4.7 & 6.0 versions?
1. Cold Ice, Inc. sells ice cream sells for $2 each. The variable costs per ice cream are $1 and the fixed overheard costs are $ 0.35. A summer camp wants to place a one-time order for 100 cone of ice cream at a price of $ 1.25 each. What is the minimum price hot dogs should be charge for this special order?
Explain why the assets of a partnership are usually revalued before the admission of a new partner or the retirement of an existing partner