Recording example sentences

Below the Recording of Transactions - I 57 account titles, a brief description of the transaction is given which is called Narration.committed by the firm while recording entries in the cash book cause difference between cash book and passbook balance.The errors which affect only one account can be rectified by giving an exaplanatory note in the account affected or by recording a journal entry with the help of the Suspense Account.” When the debentures are redeemed, the requisite amount of Debenture Redemption Reserve is transferred to General Reserve by recording the following journal entry.The concept of conservatism (also called 'prudence') provides guidance for recording transactions in the book of accounts and is based on the policy of playing safe.If an event cannot be quantified in monetary terms, it is not considered for recording in financial accounts.The balancing of the an account is illustrated below with the help of an example explaining the complete process of recording the transactions, posting to ledger and balancing there of.The relevant accounting data is set out in the voucher, the sample of which is shown in figureures 1 1 to 1 These documents are so designed as to permit the recording of accounting data in a systematic manner.Adoption of historical cost brings in objectivity in recording as the cost of acquisition is easily verifiable from the purchase documents.Recording : Once the economic events are identified and measured in financial terms, these are recorded in books of account in monetary terms and in a chronological order.It includes stuffing ballot boxes by a few persons using the votes of others; recording multiple votes by the same person; and bribing or coercing polling officers to favour a candidate.The registered companies are required to follow Part I of Schedule I of The Companies Act for recording assets and liabilities in the balance sheet.The source document for recording entries in the sales return book is generally the credit note.This process of analysing transactions and recording their effects directly in the accounts is helpful as a learning exercise.Error in recording a transaction in subsidiary book with wrong name or wrong amount.