Acc Notes

www.studyguide.pk BOOKS OF ORIGINAL ENTRIES These are the loudnesss of front entering. The transactions are initiative recorded in these holds before being entered in the volume books. These books are also c eithered as books of Prime entry or Subsidiary books. They are six in number. 1. Purchases journal (or Purchases carry) apply to record every last(predicate) citation purchases of goods. It is pen up from invoice. 2. sales journal (or sales throw) is apply to record every(prenominal)(a) the attribute sales of goods. It is written up from the invoice. 3. Sales occurs Journal (or Return Inwards Book): It is used to record each returns inwards. It is written up from the copies of the consultation nones send to customers. 4. Purchases Return Journal (or Returns outwards Book): It is used to record all purchases returns. It is written up from the credit notes received from the suppliers. 5. Cash Book: It is used to record all receipts and pay ments of cash and cheques. It is been granted the ruling in much(prenominal) a way that it acts some(prenominal) as a book of authoritative entry and book account. 6. full general Journal (or Journal): This book is used to record all those items or transactions that can not be recorded in any other book of original entry wish well i. Correction of errors ii. curtain raising entries iii. Purchase or Sale of Assets on Credit and so on Studyguide.

PK Accounts Revision Notes Page 1 www.studyguide.pk BOOKS OF FINAL ENTRY account book BOOKS book of account books are the books of final entry wh ich contains the mixed accounts to which the! entries made in the Books of Original entry are transferred. sectionalisation OF LEDGER BOOK 1. Purchases al-Quran Book: This book contains all the accounts of Suppliers. 2. Sales Ledger Book: This book contains all the accounts of Customers. 3. General Ledger Book: This book contains all the rest of the accounts like, Assets Accounts, expenses account, losings account, etc., and also the total purchases account, Total sales account, Total Sales returns account, Purchases Returns account. It...If you want to get a full essay, order it on our website: BestEssayCheap.com

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