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In the Sale or Return Ledger
- a)All the customers are individually debited and the sale or return account is credited with the periodical total of the Sale or Return Day Book.
- b)All the customers are debited in total and the sale or return account is credited with the periodical total of the Sale or Return Day Book.
- c)All the customers are individually debited and the sale or return account is also credited with the individual total of the Sale or Return Day Book.
- d)None of the above.
Correct answer is option 'A'. Can you explain this answer?
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In the Sale or Return Ledgera)All the customers are individually debit...
The correct answer is option 'A'.
In the Sale or Return Ledger, all the customers are individually debited and the sale or return account is credited with the periodical total of the Sale or Return Day Book. This method is commonly used to record sales made on a sale or return basis.
Here is a detailed explanation of why option 'A' is the correct answer:
1. Sale or Return Ledger:
The Sale or Return Ledger is a subsidiary ledger that records transactions related to sales made on a sale or return basis. It is used to keep track of sales made to customers who have the option to return the goods if they are unsatisfied.
2. Individual Debit Entries:
In this method, all the customers are individually debited in the Sale or Return Ledger. Each customer's account is debited with the value of the goods sold on a sale or return basis. This helps in maintaining separate records for each customer and tracking their specific transactions.
3. Periodical Total of Sale or Return Day Book:
The Sale or Return Day Book is a book of original entry where all the sales made on a sale or return basis are recorded. It contains details such as the customer's name, date of sale, description of goods, quantity, and value.
In the Sale or Return Ledger, the periodical total of the Sale or Return Day Book is credited to the sale or return account. This means that the total value of sales made on a sale or return basis is credited to the sale or return account, which reflects the overall sales activity.
4. Explanation of the Options:
Let's analyze the other options to understand why they are incorrect:
- Option 'B': In this option, all the customers are debited in total and the sale or return account is credited with the periodical total of the Sale or Return Day Book. This means that the total value of sales made on a sale or return basis is debited to all customers collectively, which does not provide individual tracking of transactions.
- Option 'C': In this option, all the customers are individually debited and the sale or return account is also credited with the individual total of the Sale or Return Day Book. This means that each customer's account is debited with the value of goods sold on a sale or return basis, and the sale or return account is also credited with the same value. This would result in duplication of entries and incorrect reporting of sales.
- Option 'D': This option states that none of the above options are correct. However, as explained above, option 'A' is the correct method for recording sales made on a sale or return basis.
Conclusion:
In conclusion, in the Sale or Return Ledger, all the customers are individually debited and the sale or return account is credited with the periodical total of the Sale or Return Day Book. This method allows for individual tracking of customer transactions and provides an accurate representation of sales made on a sale or return basis.
In the Sale or Return Ledger, all the customers are individually debited and the sale or return account is credited with the periodical total of the Sale or Return Day Book. This method is commonly used to record sales made on a sale or return basis.
Here is a detailed explanation of why option 'A' is the correct answer:
1. Sale or Return Ledger:
The Sale or Return Ledger is a subsidiary ledger that records transactions related to sales made on a sale or return basis. It is used to keep track of sales made to customers who have the option to return the goods if they are unsatisfied.
2. Individual Debit Entries:
In this method, all the customers are individually debited in the Sale or Return Ledger. Each customer's account is debited with the value of the goods sold on a sale or return basis. This helps in maintaining separate records for each customer and tracking their specific transactions.
3. Periodical Total of Sale or Return Day Book:
The Sale or Return Day Book is a book of original entry where all the sales made on a sale or return basis are recorded. It contains details such as the customer's name, date of sale, description of goods, quantity, and value.
In the Sale or Return Ledger, the periodical total of the Sale or Return Day Book is credited to the sale or return account. This means that the total value of sales made on a sale or return basis is credited to the sale or return account, which reflects the overall sales activity.
4. Explanation of the Options:
Let's analyze the other options to understand why they are incorrect:
- Option 'B': In this option, all the customers are debited in total and the sale or return account is credited with the periodical total of the Sale or Return Day Book. This means that the total value of sales made on a sale or return basis is debited to all customers collectively, which does not provide individual tracking of transactions.
- Option 'C': In this option, all the customers are individually debited and the sale or return account is also credited with the individual total of the Sale or Return Day Book. This means that each customer's account is debited with the value of goods sold on a sale or return basis, and the sale or return account is also credited with the same value. This would result in duplication of entries and incorrect reporting of sales.
- Option 'D': This option states that none of the above options are correct. However, as explained above, option 'A' is the correct method for recording sales made on a sale or return basis.
Conclusion:
In conclusion, in the Sale or Return Ledger, all the customers are individually debited and the sale or return account is credited with the periodical total of the Sale or Return Day Book. This method allows for individual tracking of customer transactions and provides an accurate representation of sales made on a sale or return basis.
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In the Sale or Return Ledgera)All the customers are individually debited and the sale or return account is credited with the periodical total of the Sale or Return Day Book.b)All the customers are debited in total and the sale or return account is credited with the periodical total of the Sale or Return Day Book.c)All the customers are individually debited and the sale or return account is also credited with the individual total of the Sale or Return Day Book.d)None of the above.Correct answer is option 'A'. Can you explain this answer?
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In the Sale or Return Ledgera)All the customers are individually debited and the sale or return account is credited with the periodical total of the Sale or Return Day Book.b)All the customers are debited in total and the sale or return account is credited with the periodical total of the Sale or Return Day Book.c)All the customers are individually debited and the sale or return account is also credited with the individual total of the Sale or Return Day Book.d)None of the above.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 the Sale or Return Ledgera)All the customers are individually debited and the sale or return account is credited with the periodical total of the Sale or Return Day Book.b)All the customers are debited in total and the sale or return account is credited with the periodical total of the Sale or Return Day Book.c)All the customers are individually debited and the sale or return account is also credited with the individual total of the Sale or Return Day Book.d)None of the above.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 the Sale or Return Ledgera)All the customers are individually debited and the sale or return account is credited with the periodical total of the Sale or Return Day Book.b)All the customers are debited in total and the sale or return account is credited with the periodical total of the Sale or Return Day Book.c)All the customers are individually debited and the sale or return account is also credited with the individual total of the Sale or Return Day Book.d)None of the above.Correct answer is option 'A'. Can you explain this answer?.
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ample number of questions to practice In the Sale or Return Ledgera)All the customers are individually debited and the sale or return account is credited with the periodical total of the Sale or Return Day Book.b)All the customers are debited in total and the sale or return account is credited with the periodical total of the Sale or Return Day Book.c)All the customers are individually debited and the sale or return account is also credited with the individual total of the Sale or Return Day Book.d)None of the above.Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
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