Unit-10 Other Subsidiary Books

In this unit, we intend to take up the remaining books.

What is a credit note?

What is an invoice?

Give the proforma of Purchases Journal. Explain the method of recording the transactions in the purchases Journal and posting into ledger.

What are days of Grace?

What is a promissory note?

Write Short Notes on the following:

a.Return Inward Journal.

b.Returns Outward Journal.

c.Acceptance of a bill.

d.Discounting a bill.

e.Retiring a bill.

What is a Journal Proper? List the transactions recorded in the Journal Proper.

Give the rulings of Bills Receivable & Bills Payable Journals and explain what is recorded in various columns.

Name the parties to a bill of exchange.

What is a bill of exchange?

What is a debit note?

Define a bill of exchange. How does it differ from a promissory note.

How does Debit Note differ from the Credit Note? Discuss the utility of these notes.

Name the parties to a promissory note.

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What is a Journal Proper? List the transactions recorded in the Journal Proper.

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Learning Pundits Content Team
Written on Jun 25, 2019 3:31:59 PM

There are a number of transactions which do not occur frequently and hence do not warrant preparation of special journals. But they have to be recorded somewhere. For them the proper place is the original journal itself, which is now called 'Journal Proper'. Thus all events and transactions which cannot be recorded in any of the special journals maintained by the Firm, shall be recorded in the Journal Proper. Examples of such transactions are:

Opening Entry
Closing Entries
Transfer Entries
Adjustment Entries
Rectification Entries
Miscellaneous Entries

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Unit-10 Other Subsidiary Books

What is a Journal Proper? List the transactions recorded in the Journal Proper.

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Unit-10 Other Subsidiary Books

What is a Journal Proper? List the transactions recorded in the Journal Proper.

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