Recorded example sentences

For accounting purposes, therefore, these are shown in money terms and recorded in rupees and paise.For realisation of any unrecorded assets including goodwill.For example, the value of human resources, changes in managerial policies or appointment of personnel are important but none of these are recorded in books of account.Recall the journal entry that is recorded using manual accounting system.Thus, if market value of the goods purchased has fallen down, the stock will be shown at cost price in the books but if the market value has gone up, the gain is not to be recorded until the stock is sold.In double entry accounting, every transaction affects and is recorded in at least two accounts.The same procedure is followed in respect of all the entries recorded in the journal.This is why they usually keep a cash book in which all receipts and payments are duly recorded.The business transactions and other economic events therefore are evaluated for deciding whether it has to be recorded in books of account.The concept of conservatism requires that profits should not to be recorded until realised but all losses, even those which may have a remote possibility, are to be provided for in the books of account.No entry is recorded because the bill becomes the property of the bank, therefore, the bank collects the amount of the bill from the acceptor and no journal entry is recorded in the books of the drawer.In accounting, the terms — debit and credit indicate whether the transactions are to be recorded on the left hand side or right hand side of the account.Similarly, if a credit purchase of machinery is recorded in purchases book instead of journal proper or rent paid to the landlord is recorded in the cash book as payment to landlord, these errors of principle.This is why they usually keep a cash book in which all receipts and payments are duly recorded.Consider the following details obtained from M/s Kanika Traders and observe how the entries are recorded in the purchase journal.