Loading the lesson
Loading the lesson
Search AllRounder.ai
Search the courses, subjects, tracks, games and features, or jump straight to a page.
Search the courses, subjects, tracks, games and features, or jump straight to a page.
2 cards from this section. Quick, good the night before a test.
List the five columns found in a journal.
Think about what information we need for a transaction.
What do you record in the narration?
It describes the reason for the entry.
What is the first step in recording a transaction?
What do you do before preparing any reports?
True or False: Each journal entry must have a debit and credit amount.
Think about the balance in accounts.
You sold merchandise on credit for ₹10,000. Record the journal entry with narration.
Identify the accounts impacted.
A customer returns goods worth ₹2,000. How do you record this in the journal?
Think about how returns affect the accounts.
4 more questions in this section. Enroll free to practise them all.
Enroll free