Q20 what is signified by a debit cash balance ans a

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Q.20. What is signified by a debit cash balance ? Ans. A debit cash balance signifies Cash in Hand. Q.21. What is signified by a debit bank balance ? Ans. A debit bank balance signifies balance lying deposited in the bank. Q.22. What is signified by a credit bank balance ? Ans. A credit bank balance signifies amount payable to the bank by the firm.
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37 Address: Plot No 420, Behind Shopprix Mall, Vaishali Sector 5, Ghaziabad 201010 M: 9999907099, 9818932244 O: 0120-4130999 Website: , ACCOUNTANCY CLASS XI CHAPTER-7 ORIGIN OF TRANSACTIONS- SOURCE DOCUMENTS AND PREPARATION OF VOUCHERS Q.1. What is Source Documents ? Ans. “A Source Document is a written document containing details of the transaction”. Q.2. Define Cash Memo. Ans. Cash Memo is prepared by the seller when goods are sold against cash. Q.3. What is Invoice or Bill ? Ans. An Invoice or Bill is prepared by the seller when the goods are sold on credit. Q.4. Define Receipt. Ans. When cash or cheque is received from a customer, a receipt for the amount received is issued. Q.5. What is Pay-in-Slip ? Ans. It is a source document used for depositing cash or cheques into bank. A Pay-in-Slip is a form available from a bank. Q.6. Define Cheque. Ans. A Cheque is a document in writing, drawn upon the bank with which the account is held and is payable on demand. Q.7. What is Debit Note ? Ans. A Debit Note is made out evidencing that a debit has been made to the account of the party named in the debit note. Q.8. What is Credit Note ? Ans. A Credit Note is made out evidencing that credit has been granted to a debtor. For example, if a customer returns goods previously invoiced, or the customer is allowed further discount, a credit not is issued.
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38 Address: Plot No 420, Behind Shopprix Mall, Vaishali Sector 5, Ghaziabad 201010 M: 9999907099, 9818932244 O: 0120-4130999 Website: , Q.9.Explain is the meaning of Voucher. Ans. A Voucher is a document evidencing a business transaction. It flows from the above definition that when a transaction is entered into, an evidence to that effect is also established. Such evidences are Source Documents. Example of Source Documents are Cash Memo, Invoice or Bill, Receipt, Pay-in-Slip, Cheque and Debit and Credit Notes, etc. Q.10. What are the Types of Vouchers ? Ans. Vouchers may be categorised into: 1. Source Vouchers or Source Documents or Supporting Vouchers and 2. Accounting Vouchers. 1. Source Vouchers or Source Documents or Supporting Vouchers: Source Vouchers or Source Documents or Supporting Vouchers are documents which come into existence when a transaction is entered into. Examples of this are issue of cash memo on cash sales, issue of credit memo (Invoice) on credit sales, issue of rent teceipt of rent and so on. Features of Source Voucher: (i) It is a written document.
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