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Credit purchase of furniture shall be recorded in ?
Credit purchase of furniture shall be recorded in Journal book
Credit purchase of furniture shall be recorded in Journal book
See lessWhen a business maintains a cash book, it doesn’t need to maintain which accounts?
Bank and cash account in the ledger
Bank and cash account in the ledger
See lessThe first book of the original entry is Called?
The first book of the original entry is Ledger
The first book of the original entry is Ledger
See lessCredit balance of the bank account in the cash book shows?
Credit balance of the bank account in the cash book shows Overdraft
Credit balance of the bank account in the cash book shows Overdraft
See lessWhat is account payee cheque?
A cheque on which two parallel lines are drawn in the left top corner is called Account payee cheque
A cheque on which two parallel lines are drawn in the left top corner is called Account payee cheque
See lessBalancing of accounts means ?
Difference in a total of debit side and credit side
Difference in a total of debit side and credit side
See lessReturn of goods by a customer is recorded in ?
Return of goods by a customer is recorded in Sales returns book
Return of goods by a customer is recorded in Sales returns book
See lessWhich Account is opened first in the ledger book?
Personal account is opened first
Personal account is opened first
See lessHow many columns are there in a Ledger (on one side)?
There are 4 columns in one side of a ledger
There are 4 columns in one side of a ledger
See lessWhat statement is used while closing a Drawing Account?
By capital account. It is used while closing drawings account
By capital account. It is used while closing drawings account
See less