Accounting

Returns Books are those books in which the goods returned to the suppliers and goods returned by the consumers are recorded. The reasons for the…

Purchase book is an exceptional function secondary book organized by a business to record all credit purchases. It is a particular journal used by businesses…

Difference between cash discount and trade discount Trade discount differs from cash discount in the following respects. Trade Discount Parties: It is a reduction granted…

Posting and Balancing in Accounting Journal After journal entries are complete the subsequently step in the accounting phase is to post the journal entries into…

Trade Discount A trade discount is an amount by which the price of something is reduced for a person or business in the same trade.…

Purchases Book Purchases book also known as Bought Day Book is used to record all credit purchases of goods which are intended for resale in…

Advantages of Subsidiary Books Subsidiary Books helps to save time and labor by recording a similar type of transactions in a separate book. These books…

Subsidiary book is the subdivision of the Journal. In these books, the details of the transactions are recorded as they take place from day to…

Necessities of Subsidiary Books Subsidiary Books are those books of unique entry in which transactions of comparable nature are recorded at one place and in…

Subsidiary Books are those books of unique entry in which transactions of comparable nature are recorded at one place and in sequential order. In an…