The process of recording business transaction in a book of original entry is known as-

Related MCQs

• The drawer of a trade bill passes relevant entries with regard to the transaction involved in it. But, in case of an accommodation bill, he passes an entry in addition to the usual entries. The additional entry so passed is with respect to
• ABC Ltd. makes payments to its Sundry Creditors through cheques and the Cash Discount received on these payments is recorded in the Triple-columnar Cash Book. In the event of dishonour of any such cheques, the discount so received should be written back through (i) A debit to discount column of the Cash Book (ii) A credit to discount column of the Cash Book (iii) A credit to bank column of the Cash Book (iv) A debit to Discount Account through Journal Proper (v) A credit to Creditor‘s Account through Journal Proper
• Recording of transaction in the journal is called
• Recording of transaction in ledger is called as
• Computer Accounting System is used for recording the financial transaction. Sol:
• Recording of a transaction in a Journal is called
• Which of the following statements is/are true? (i) Cash Book records all cash receipts and cash payments (ii) Cash Book records all sale and purchase transactions of goods both in cash and on credit (iii) Cash Book records discount on Cash Payments
• From the following details ascertain the adjusted Bank balance as per Cash Book — Overdraft as per Cash Book ` 80,000; Cheque received entered twice in the Cash Book ` 5,000; Credit side of bank column cast short by ` 500; Bank charges amounting to ` 200 entered twice; Cheque issued but dishonoured ` 2,000
• Consider the following data pertaining to a firm: Credit balance as per bank column of cash book `13,000; Bank interest on overdraft appeared only in the pass book `2,600; Cheques deposited but not collected by the bank ` 5,000. The balance as per pass book is
• The term "compound entry" means that the journal entry has