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Books of prime entry?
book of prime entry are the first recorded book. The book of prime have including cash book , sales day book . purchase day book , and so on..
Explain the main purpose of maintaining books of prime entry in business?
The main purpose is to speed up accounting, and make the process more efficient. This saves the bookkeeper the time to memorize what accounts to debit and credit.
What machine inspired the double entry accounting method?
There is no record of a machine that inspired the double-entry accounting method. Records show that double-entry accounting was inspired by existing accounting practices at the time.
What is the accounting entries when goods are bought on credit?
The journal entry is the accounting entry which lists the goods that are bought on credit.
What does the double-entry bookkeeping system mean?
It means that for every transcation, two entries are made into the accounting books and thus, everything should be in balance. It means that for every transcation, two entries are made into the accounting books and thus, everything should be in balance.
What are the books of prime entry and why are they so called?
These r accounting books which is marked with foremost entry of transaction, that's why it is called prime entry .. usually journal is referred as book of prime entry but in big organisations others books are maintained for giving spl importance .. they r 1.debtors book 2. creditors book 3.bills receiveble 4.bills payable 5.cash book 6.sales return books
Books of prime entry?
book of prime entry are the first recorded book. The book of prime have including cash book , sales day book . purchase day book , and so on..
Explain the main purpose of maintaining books of prime entry in business?
The main purpose is to speed up accounting, and make the process more efficient. This saves the bookkeeper the time to memorize what accounts to debit and credit.
What are examples of books of original entry?
Examples of books of original entry are the sales day book, the purchases day book, the sales returns book, the purchases day book, the journal, and the cash book. These are books used in accounting.
Who introduces double entry accounting?
Double Entry Accounting is introduced by Lucas Paciolli
What machine inspired the double entry accounting method?
There is no record of a machine that inspired the double-entry accounting method. Records show that double-entry accounting was inspired by existing accounting practices at the time.
How do you make accounting entry for loan?
Received loan from family members after 3 years family said they don't want their loan back how do i bass my entry in the books of the accounts
Matching in accounting means to make an entry in the journal?
Matching" in accounting means to make an entry in the journal
What is the accounting entries when goods are bought on credit?
The journal entry is the accounting entry which lists the goods that are bought on credit.
What does the double-entry bookkeeping system mean?
It means that for every transcation, two entries are made into the accounting books and thus, everything should be in balance. It means that for every transcation, two entries are made into the accounting books and thus, everything should be in balance.
What is the proper accounting entry for accrued liability?
WHICH IS PAYABLE...Under accrual method of accounting, goods or services are received today and payment is made in the future. The transaction is recorded in the books when the goods and services are receive.
What is the accounting entry for sales return under warranty?
The accounting entry for sales return under warranty is the accrued warranty liability. This entry is written under warranty expense.
