Name all the subsidiary books which do not record cash transactions.
Asked by Topperlearning User | 11th Jul, 2016, 04:49: PM
The subsidiary books which do not record cash transaction are as follows:
- Purchases book
- Sales book
- Purchases return book
- Sales return book
- Bills Receivable Book
- Bills payable book
- Journal proper
Answered by | 11th Jul, 2016, 06:49: PM
- Following transactions are of M/s Rakesh Kumar and Sons for the month of April, 2015. Prepare their Purchase Book: Apr. 5 Purchase on credit from M/s Raj Mills: 100 pieces long cloth @ Rs.80 50 pieces shirting @ Rs.100 Apr. 8 Purchased for cash form M/s Ambika Mills: 50 pieces muslin @ Rs.120 Apr. 15 Purchased on credit from M/s Sagar Mills: 20 pieces coating @ Rs.1,000 10 pieces shirting @ Rs.90 Apr. 20 Purchased on credit from M/s Bharat Typewriters Ltd.: 5 Typewriters @ Rs.1,400 each
- Name the subsidiary book which records only cash transaction.
- Goods purchased on credit are recorded in which subsidiary book and why?
- Goods sold on credit are recorded in which subsidiary book and why?
- What is the difference between a purchases book and purchases account?
- What is recorded in a journal proper?
- Goods returned by debtors are recorded in which subsidiary book and why?
- Goods returned to creditors are recorded in which subsidiary book and why?
- What is return inward book? Explain briefly.
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