What is a debit note?
Asked by Topperlearning User | 18th Jul, 2016, 01:31: PM
A debit note is a document evidencing that the account of the named person is debited for the reason stated therein. It is issued by a firm to its suppliers/creditors for debiting his/her account. For example, goods returned to supplier
Answered by | 18th Jul, 2016, 03:31: PM
- Briefly explain the following: Supporting vouchers Debit note Credit note
- Enumerate briefly receipt in accounting terms and prepare a specimen of it.
- Explain cash memo in accounting terms and prepare a specimen of it.
- Write a brief note on debit voucher and state its contents with a specimen.
- Pay-in-slip and cheques are used for same purpose. Do you agree? Justify your answer.
- Give examples of transactions in which debit voucher is prepared.
- What is a complex voucher?
- The following transactions took place in M/s Swaminathan Traders. Prepare debit voucher. 2016 Rs. Jan. 05 Paid cash to Sonali and Sons for purchase of 5 machines vide Cash Memo no. 5294 20,000 Jan. 21 Wages paid for the month of December, 2015 vide Wage Sheet No. 98 6,500
- Prepare the credit voucher for the following transaction took place in Bhavik Trading and Co.: 2016 Rs. Feb. 04 Sold old Furniture for cash vide cash receipt No. 493 800 Feb. 10 Withdrawal cash from Bank for office use vide cheque No. 34581 2,700
- Prepare the transfer voucher from the source voucher of M/s Geeta Lal and Co. based on the following transaction: 2016 Rs. May, 08 Purchased goods from M/s Nitin and Co. vide Bill No. 684 8,600 May, 19 Sold goods to M/s Naina Naik vide Bill No. 86545 13,900
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