1. what is the different journal and journal voucher 2. the scope of decision in

Question

1. what is the different journal and journal voucher
2. the scope of decision in fhe strategic planning level is ..
3. the frequency of decision taken in operation control level is ...
4.the 3 level of business internet model
5.please mention 3 project visibility in developing the information project
6. what are the 4 perspective in balance scorecard
8.8.in encryptography the sender sending using private or public key or the receiver ?
10. insurance itu onetime cost atau reccuring cost 1. what is the different journal and journal voucher
2. the scope of decision in fhe strategic planning level is ..
3. the frequency of decision taken in operation control level is ...
4.the 3 level of business internet model
5.please mention 3 project visibility in developing the information project
6. what are the 4 perspective in balance scorecard
8.8.in encryptography the sender sending using private or public key or the receiver ?
10. insurance itu onetime cost atau reccuring cost 1. what is the different journal and journal voucher
2. the scope of decision in fhe strategic planning level is ..
3. the frequency of decision taken in operation control level is ...
4.the 3 level of business internet model
5.please mention 3 project visibility in developing the information project
6. what are the 4 perspective in balance scorecard
8.8.in encryptography the sender sending using private or public key or the receiver ?
10. insurance itu onetime cost atau reccuring cost

Explanation / Answer

Journal is known as book of original entry because all the business transactions are initially recorded in these books. The entries are recorded in chronological order i.e. the order in which they occurred.

But there are certain entries that reoccur frequently in accounting period. Therefore, special journals has been designed to record such transactions. There are 6 journals to record the transactions which occur frequently.

1) Purchase journal: is used to record the purchase of merchandise (goods) on credit. Goods purchased for cash is not recorded in this journal. They are recorded in cash payment journal. Purchase of fixed assets on credit is recorded in general journal.

2) Sales journal: is used to record the sale of merchandise on credit. Goods sold for cash or fixed assets sold are not recorded in this journal. They are recorded in cash receipt journal. Sale of fixed assets on credit is recorded in general journal.

3) Cash receipts journal: is used to record all transactions related to receipt of cash. Example of such transactions are cash sale of merchandise, cash sale of fixed assets, cash from accounts receivables.

4) Cash payment journal: is used to record all transactions related to payment of cash. Example of such transactions are cash purchase of merchandise, cash purchase of fixed assets, cash paid to accounts payable.

5) Purchase return journal: is used to record the return of merchandise purchased on credit. It is also known as return outward journal. If the goods purchased are defective or not upto the mark then they are returned to seller. A note specifying the reason of return is sent along with goods which is known as debit note.

6) Sales return journal: is used to record the return of merchandise sold on credit. It is also known as return inward journal. If the goods sold are returned by the customer due to defects then they are returned to seller. A credit note is send by seller specifying the name of customer, type and quantity of goods returned along with amount.

Journal voucher: The transactions other than transactions related to purchases journal, sales journal, cash receipts journal, cash payment journal, sales return journal and purchase return journal are recorded in general journal. Example of such transactions are sale and purchase of fixed asset on credit, dividend paid, salary paid etc. The entries are recorded in chronological order in which they occur.

In order to support these entries a document is prepared which is known as journal voucher. The vouchers are the primary documents that confirms the transaction entered in journal. While preparing the voucher its supporting documents are necessary as proof. Example; Debit or credit note in case of goods are returned, for outstanding expenses a payment note whenever the same is paid.

A journal voucher consists of voucher number, transaction date and amount, ledger accounts affected, documentary evidences (invoices or receipts), brief description of transaction, signature of authorised signatory.

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