Which Is The Recording Of Transaction?


Recording of transaction- I is a process of accounting transactions of the business in several books of accounts like cash book, journal book, a ledger account, profit & loss account, etc. These entries are a source of documents which act as evidence for all the transactions taking place in the company.



What are three main types of transactions?

Based on the exchange of cash, there are three types of accounting transactions, namely cash transactions, non-cash transactions, and credit transactions.

  • Cash transactions. They are the most common forms of transactions, which refer to those that are dealt with cash.
  • Non-cash transactions.
  • Credit transactions.


How do you record transactions in general ledger?

How to post journal entries to the general ledger

  1. Create journal entries.
  2. Make sure debits and credits are equal in your journal entries.
  3. Move each journal entry to its individual account in the ledger (e.g., Checking account)
  4. Use the same debits and credits and do not change any information.


What are the steps in the transaction recording process?

The first four steps in the accounting cycle are (1) identify and analyze transactions, (2) record transactions to a journal, (3) post journal information to a ledger, and (4) prepare an unadjusted trial balance.


Which is the recording of transaction?

Recording of transaction- I is a process of accounting transactions of the business in several books of accounts like cash book, journal book, a ledger account, profit & loss account, etc. These entries are a source of documents which act as evidence for all the transactions taking place in the company.


What are parts of recording process?

The usual sequence of steps in the recording process includes analysis, preparation of journal entries and posting these entries to the general ledger. Subsequent accounting processes include preparing a trial balance and compiling financial statements.


What is Full Cycle Bookkeeping?

A full cycle accounting is a process of accounting activities that are followed by every business throughout the year, in the same repetitive manner, until the company remains in the business. This full-cycle starts with recording all the financial statements of the business and goes all the way to the closing account.


How is phenol prepared from sulfonic acid?

Benzene sulphonic acid is initially treated with an aqueous solution of NaOH. It is then mixed with solid NaOH and fused at high temperature. The resulting product is then acidified to yield phenol.


What is JDBC vs ODBC?

ODBC is an SQL-based Application Programming Interface (API) created by Microsoft that is used by Windows software applications to access databases via SQL. JDBC is an SQL-based API created by Sun Microsystems to enable Java applications to use SQL for database access.


What are semiconductors class 10th?

Materials having resistivity or conductivity in between conductors and insulators, are called semiconductors. These are the materials with the forbidden energy gap between valence and conduction band <3eV. It is less than that of insulators (>3eV) and more than that of conductors.


Which of the following is a must in food labeling?

Answer. Description or technical name of the food or drink (not the brand) Net weight or volume – amount of food or drink without the weight of the packaging.


Which is a passive component Mcq?

Passive Components MCQ Question 10 Detailed Solution

Resistors: A resistor is taken as a passive element since it can not deliver any energy to a circuit.


How does reproduction help in providing stability to populations of species?

Reproduction is the process of producing new individuals of the same species by existing organisms of a species, so, it helps in providing stability to population of species by giving birth to new individuals as the rate of birth must be at par with the rate of death to provide stability to population of a species.


Is CIS difficult?

Is a CIS Degree Hard? Getting your degree in CIS is not easy, but many people agree that it's completely worth it. You will likely need to take quite a few coding and math classes, which some people find to be challenging.


What is the reasoning ability?

Reasoning ability refers to the power and effectiveness of the processes and strategies used in drawing inferences, reaching conclusions, arriving at solutions, and making decisions based on available evidence.


Where are hydraulics used?

Where are hydraulic systems found in everyday life?

  • Gasoline pumps. They make use of hydraulics to draw the fuel from their storage tank to the vehicle.
  • Cars.
  • Vehicle repair and maintenance.
  • Dishwashers.
  • Construction machines.
  • Airplanes.
  • Amusement park rides.
  • Theatrical presentations.


What are the 7 types of learners?

How to Engage the 7 Types of Learners in your Classroom

  • Auditory and musical learners.
  • Visual and spatial learner.
  • Verbal learner.
  • Logical and mathematical learner.
  • Physical or kinaesthetic learner.
  • Social and interpersonal learner.
  • Solitary and intrapersonal learner.


Does Neo Destroy the Matrix?

All Neo wanted in exchange for saving the machine world was peace between the machines and humans. They agreed to his terms and sent him into the Matrix. There he allowed himself to be absorbed by Smith's program. Neo destroyed it from within, and in the process both he and Agent Smith died.


What are the 10 forms of government?

10 Common Forms of Government

  • Democracy.
  • Communism.
  • Socialism.
  • Oligarchy.
  • Aristocracy.
  • Monarchy.
  • Theocracy.
  • Colonialism.


Who invented code?

Ada Lovelace: The First Computer Programmer.


How do you become a maths person?

But what does being a “math person” really mean?

Heller outlines some of those mindset-changing steps here:

  1. Create opportunities for cooperative learning.
  2. Give students the chance to productively struggle.
  3. Encourage participation, even if the student doesn't have the right answer yet.
  4. Re-envision math as a language.


Dated : 05-Jun-2022

Category : Education

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