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In which book of original entry, will you record the following transactions?
Q.Unpaid salary for Rs. 340 is to be provided for in the accounts.
- a)Bills Receivable Book
- b)Purchases Book
- c)Journal Proper (General Journal)
- d)Purchases Return
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
In which book of original entry, will you record the following transac...
Explanation:
The correct answer is option 'C', which is Journal Proper (General Journal).
Journal Proper:
The Journal Proper, also known as the General Journal, is a book of original entry where transactions that do not fit into any other specific book are recorded. It is used to record non-routine or special transactions.
Unpaid Salary:
In this case, the transaction is related to providing for unpaid salary amounting to Rs. 340. This transaction does not fit into any specific book like Bills Receivable Book, Purchases Book, or Purchases Return.
Reason for using Journal Proper:
The reason for recording this transaction in the Journal Proper is that it does not involve any external parties like bills receivable or purchases. It is an internal transaction related to the provision of unpaid salary.
Recording the Transaction:
To record this transaction in the Journal Proper, we would follow the general format of a journal entry, which includes the date, account titles, and amounts.
The entry in the Journal Proper would be as follows:
Date | Account Title | Debit | Credit
-------------------------------------
| Unpaid Salary | | 340
Conclusion:
In conclusion, the transaction of providing for unpaid salary would be recorded in the Journal Proper (General Journal) as it is a non-routine internal transaction that does not fit into any other specific book of original entry.
The correct answer is option 'C', which is Journal Proper (General Journal).
Journal Proper:
The Journal Proper, also known as the General Journal, is a book of original entry where transactions that do not fit into any other specific book are recorded. It is used to record non-routine or special transactions.
Unpaid Salary:
In this case, the transaction is related to providing for unpaid salary amounting to Rs. 340. This transaction does not fit into any specific book like Bills Receivable Book, Purchases Book, or Purchases Return.
Reason for using Journal Proper:
The reason for recording this transaction in the Journal Proper is that it does not involve any external parties like bills receivable or purchases. It is an internal transaction related to the provision of unpaid salary.
Recording the Transaction:
To record this transaction in the Journal Proper, we would follow the general format of a journal entry, which includes the date, account titles, and amounts.
The entry in the Journal Proper would be as follows:
Date | Account Title | Debit | Credit
-------------------------------------
| Unpaid Salary | | 340
Conclusion:
In conclusion, the transaction of providing for unpaid salary would be recorded in the Journal Proper (General Journal) as it is a non-routine internal transaction that does not fit into any other specific book of original entry.
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In which book of original entry, will you record the following transac...
Journal proper
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In which book of original entry, will you record the following transactions?Q.Unpaid salary for Rs. 340 is to be provided for in the accounts.a)Bills Receivable Bookb)Purchases Bookc)Journal Proper (General Journal)d)Purchases ReturnCorrect answer is option 'C'. Can you explain this answer?
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In which book of original entry, will you record the following transactions?Q.Unpaid salary for Rs. 340 is to be provided for in the accounts.a)Bills Receivable Bookb)Purchases Bookc)Journal Proper (General Journal)d)Purchases ReturnCorrect answer is option 'C'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about In which book of original entry, will you record the following transactions?Q.Unpaid salary for Rs. 340 is to be provided for in the accounts.a)Bills Receivable Bookb)Purchases Bookc)Journal Proper (General Journal)d)Purchases ReturnCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In which book of original entry, will you record the following transactions?Q.Unpaid salary for Rs. 340 is to be provided for in the accounts.a)Bills Receivable Bookb)Purchases Bookc)Journal Proper (General Journal)d)Purchases ReturnCorrect answer is option 'C'. Can you explain this answer?.
In which book of original entry, will you record the following transactions?Q.Unpaid salary for Rs. 340 is to be provided for in the accounts.a)Bills Receivable Bookb)Purchases Bookc)Journal Proper (General Journal)d)Purchases ReturnCorrect answer is option 'C'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about In which book of original entry, will you record the following transactions?Q.Unpaid salary for Rs. 340 is to be provided for in the accounts.a)Bills Receivable Bookb)Purchases Bookc)Journal Proper (General Journal)d)Purchases ReturnCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In which book of original entry, will you record the following transactions?Q.Unpaid salary for Rs. 340 is to be provided for in the accounts.a)Bills Receivable Bookb)Purchases Bookc)Journal Proper (General Journal)d)Purchases ReturnCorrect answer is option 'C'. Can you explain this answer?.
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