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Page 1
UNIT -4
SUBSIDIARY BOOKS
Page 2
UNIT -4
SUBSIDIARY BOOKS
ü Understanding the technique of recording
transaction in subsidiary books
ü Posting from subsidiary books to ledger
ü Maintaining of subsidiary books doesn’t take
away the importance of Journal
ü Difference between Subsidiary book and
principle books
Page 3
UNIT -4
SUBSIDIARY BOOKS
ü Understanding the technique of recording
transaction in subsidiary books
ü Posting from subsidiary books to ledger
ü Maintaining of subsidiary books doesn’t take
away the importance of Journal
ü Difference between Subsidiary book and
principle books
(1)
• There are numerous transactions which occur so
many times in a day.
(2)
• It is inadequate and inconvenient to record the
transaction in the book of original entry i.e. journal.
(3)
• Every Transaction recorded makes journal bulky,
tedious and consumes more time, labour and money.
Page 4
UNIT -4
SUBSIDIARY BOOKS
ü Understanding the technique of recording
transaction in subsidiary books
ü Posting from subsidiary books to ledger
ü Maintaining of subsidiary books doesn’t take
away the importance of Journal
ü Difference between Subsidiary book and
principle books
(1)
• There are numerous transactions which occur so
many times in a day.
(2)
• It is inadequate and inconvenient to record the
transaction in the book of original entry i.e. journal.
(3)
• Every Transaction recorded makes journal bulky,
tedious and consumes more time, labour and money.
(4)
• So the transactions which are of repetitive nature are
recorded in a separate book through special journal.
(5)
• Such separate book of original entry, maintained for
recording the similar and repetitive types of
transactions is known as subsidiary books.
(6)
• Also known as sub-journal or sub- division of journal,
this book includes purchase book, sales book,
purchase return book, sales return book and cash book.
Page 5
UNIT -4
SUBSIDIARY BOOKS
ü Understanding the technique of recording
transaction in subsidiary books
ü Posting from subsidiary books to ledger
ü Maintaining of subsidiary books doesn’t take
away the importance of Journal
ü Difference between Subsidiary book and
principle books
(1)
• There are numerous transactions which occur so
many times in a day.
(2)
• It is inadequate and inconvenient to record the
transaction in the book of original entry i.e. journal.
(3)
• Every Transaction recorded makes journal bulky,
tedious and consumes more time, labour and money.
(4)
• So the transactions which are of repetitive nature are
recorded in a separate book through special journal.
(5)
• Such separate book of original entry, maintained for
recording the similar and repetitive types of
transactions is known as subsidiary books.
(6)
• Also known as sub-journal or sub- division of journal,
this book includes purchase book, sales book,
purchase return book, sales return book and cash book.
¨ Generally a business transaction consists of
Purchase of goods
sale of goods
Receipt of cash
payment of cash
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FAQs on MCQ - Subsidiary books - Principles and Practice of Accounting - CA Foundation
| 1. What are subsidiary books in accounting? |  |
Ans. Subsidiary books in accounting are specialized journals used to record specific types of transactions, such as cash receipts, cash payments, purchases, and sales. These books help in maintaining a systematic and organized record-keeping process.
| 2. How do subsidiary books simplify the accounting process? | |
Ans. Subsidiary books simplify the accounting process by categorizing and recording transactions based on their nature. This helps in reducing the complexity of the general ledger and makes it easier to locate and analyze specific transactions. It also improves the efficiency and accuracy of financial reporting.
| 3. What are the different types of subsidiary books commonly used in accounting? | |
Ans. The commonly used subsidiary books in accounting include the cash book, purchases book, sales book, journal proper, and ledger. The cash book records all cash transactions, the purchases book records credit purchases, the sales book records credit sales, the journal proper records all other non-cash transactions, and the ledger is used to summarize and post the transactions from the subsidiary books.
| 4. Why is it important to maintain subsidiary books in accounting? | |
Ans. Maintaining subsidiary books is important in accounting as it provides a detailed and organized record of all transactions. It helps in tracking and analyzing the flow of cash and goods, identifying errors or discrepancies, preparing financial statements, and complying with legal and regulatory requirements. It also facilitates efficient auditing and tax filing processes.
| 5. Can subsidiary books be replaced by computerized accounting systems? | |
Ans. Yes, subsidiary books can be replaced by computerized accounting systems. With the advancements in technology, many businesses are transitioning from manual record-keeping to computerized systems. These systems offer various features and benefits, such as automated data entry, real-time reporting, easy retrieval of information, and enhanced data security. However, it is essential to ensure that the computerized system accurately captures and records all relevant transactions to maintain the integrity of the accounting process.
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