Archive about 'Book of Original Entry'

Content Page on Bookkeeping topics namely TYPES OF PRIME BOOKS OF ENTRY OR BOOKS OF ORIGINAL ENTRY

Tweet This Content Page helps you to navigate to all articles relating to PRIME BOOKS OF ENTRY OR BOOK OF ORIGINAL ENTRY.From each topic, you can return to this Content Page. Click to the respective topic: Content Page On BOOK OF ORIGINAL ENTRY 1.0 Learn what are the DIFFERENT TYPES OF PRIME BOOK OF ENTRY […]

In bookkeeping, explain in brief what are journals used for?

Tweet Journals as part of the original or prime book of entry plays the following roles: The journal is used as a book of prime entry for: Correction of errors; Transfers between ledger accounts; Purchases and sales of fixed assets; Opening entries in new set of ledgers; Any other transactions for which there is no […]

Give examples of entries commonly recorded in the Journal Proper

Tweet Journal proper or general journal are for making the original record of such transaction for which no special journal are maintained. Examples of Entries normally recorded  are as follows: Opening entries Opening Entries are used at the beginning of the financial year to open the books by recording the assets, liabilities and capital appearing […]

Accounting Quiz or Test Your Accounting Knowledge on Prime Books Of Entry

Tweet Refresh or test your accounting knowledge on prime books of entry: QUESTIONS: 1.0  List the seven books of prime entry 2.0  What is meant by an “imprest system”? 3.0  Why is it necessary for businesses to maintain a sale ledger? 4.0  What types of transaction are recorded in the journal? 5.0  List four types […]

Explain The Difference Between Journal And Ledger

Tweet Difference Between Journal And Ledger Journal Ledger Journal is the book of prime entry where the transactions are first recorded and then to the ledger ( 1 stage) Compared to Journal, the ledger is recorded after the journal ( the 2 nd stage) Journalizing is the  process of recording entries in the book of […]

Answers To Questions on True Or False On Subsidiary Books

Tweet Answer to Question on Subsidiary Books True False 1.0 Total of Return Inward Register is credited to Return Inwards Account X 2.0 The sale of an old car is recorded in the Sales Register X 3.0 Credit Note is the basis for making entry in the Purchase Returns Book X 4.0 The Sales Register […]

Questions(With Answers) On True Or False For Subsidiary Books

Tweet QUESTIONS [  click here for ANSWER ] True False 1.0 Total of Return Inward Register is credited to Return Inwards Account 2.0 The sale of an old car is recorded in the Sales Register 3.0 Credit Note is the basis for making entry in the Purchase Returns Book 4.0 The Sales Register is a […]

The Different Types Of Journals Or Books Of Prime or Original Entry Shown In The Accounting Cycle

Tweet Journal is also called the Book Of Prime Or Original Entry.   The purposes of Journal are as follows:   Records in one place the complete effects of a transaction Provides a chronological record of transaction Helps to prevent or locate errors because the debit and credit amounts  for each entry could be readily […]

Types of Subsidiary Book -The Cash Receipts Journal

Tweet The Cash Receipts Journal This Journal records all cash RECEIVED. The sources of information required to write up this Journal are as follow: duplicate receipts for amounts received from debtors daily cash sale sheets bank statement for items such as deposits made direct into the bank by customers and interest on investments collected by […]

Types of Subsidiary Book -The Cash Payments Journal

Tweet The Cash Payment Journal This Journal records all CASH PAYMENTS. The sources of information required to write up this Journal are as follow: cheque stubs for all payments made by cheque bank statement for items such as bank charges, dishonored cheques and interest on bank overdraft A typical Cash Payment Journal format is as […]