In which book of original entry, will you record the following transactions?Q.The total of the purchases day book is posted periodically to the debit of:a)Purchases account.b)Cash book.c)Journal proper.d)None of these.Correct answer is option 'A'. Can you explain this answer?

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In which book of original entry, will you record the following transactions?

Q.The total of the purchases day book is posted periodically to the debit of:

a)
Purchases account.
b)
Cash book.
c)
Journal proper.
d)
None of these.

Correct answer is option 'A'. Can you explain this answer?

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In which book of original entry, will you record the following transac...

Book of Original Entry:

Purchases Day Book:

Purchases day book is a book of original entry where all credit purchases of goods and services are recorded in chronological order. It is a subsidiary book used to record purchases made on credit by a business. Each entry in the purchases day book includes the details of the supplier, date of purchase, invoice number, description of the goods or services, and the amount of the purchase.

Transaction:

The total of the purchases day book is posted periodically to the debit of:

Answer: A. Purchases account.

Explanation:

When the total of the purchases day book is posted periodically, it is recorded in the general ledger under the Purchases account. The Purchases account is a nominal account and is debited with the total amount of credit purchases made during a specific period. This allows the business to keep track of its total purchases and ultimately calculate the cost of goods sold.

Summary:

The total of the purchases day book is recorded in the Purchases account in the general ledger. This helps the business track its credit purchases and calculate the cost of goods sold.

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In which book of original entry, will you record the following transactions?Q.The total of the purchases day book is posted periodically to the debit of:a)Purchases account.b)Cash book.c)Journal proper.d)None of these.Correct answer is option 'A'. Can you explain this answer?

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In which book of original entry, will you record the following transactions?Q.The total of the purchases day book is posted periodically to the debit of:a)Purchases account.b)Cash book.c)Journal proper.d)None of these.Correct answer is option 'A'. 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.The total of the purchases day book is posted periodically to the debit of:a)Purchases account.b)Cash book.c)Journal proper.d)None of these.Correct answer is option 'A'. 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.The total of the purchases day book is posted periodically to the debit of:a)Purchases account.b)Cash book.c)Journal proper.d)None of these.Correct answer is option 'A'. Can you explain this answer?.

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