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  • Acc 3 Notes

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    This document provides definitions and explanations of common accounting documents and transactions. 1. It defines documents like invoices, cash memos, receipts, cheques, debit notes, and credit notes that provide evidence of business transactions. 2. It explains accounting vouchers like cash vouchers used for cash payments, debit vouchers, and credit vouchers used for cash receipts. It also defines non-cash vouchers for transactions not involving cash. 3. The document outlines the basic rules of debit and credit for personal, real, and nominal accounts under both the traditional and modern approaches in accounting.

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    Ertfhajci

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    acc 3 notes

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    This document provides definitions and explanations of common accounting documents and transactions. 1. It defines documents like invoices, cash memos, receipts, cheques, debit notes, and credit notes that provide evidence of business transactions. 2. It explains accounting vouchers like cash vouchers used for cash payments, debit vouchers, and credit vouchers used for cash receipts. It also defines non-cash vouchers for transactions not involving cash. 3. The document outlines the basic rules of debit and credit for personal, real, and nominal accounts under both the traditional and modern approaches in accounting.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    Download as pdf or txt
    8 views5 pages

    Acc 3 Notes

    Uploaded by

    nagasamsthitha.dwivedula
    This document provides definitions and explanations of common accounting documents and transactions. 1. It defines documents like invoices, cash memos, receipts, cheques, debit notes, and credit notes that provide evidence of business transactions. 2. It explains accounting vouchers like cash vouchers used for cash payments, debit vouchers, and credit vouchers used for cash receipts. It also defines non-cash vouchers for transactions not involving cash. 3. The document outlines the basic rules of debit and credit for personal, real, and nominal accounts under both the traditional and modern approaches in accounting.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 5

    9/6/R3

    Sour ce docurment :
    daritte cloeument which þrovides
    evidene_of tran saction.
    Eq. Cach Memo,Bìll ox Invoiee, Reciept,
    pay-in-slap, Cheque,Debit ote, (redit.
    Note.
    * Invoia Bill
    CBi]: J# is prepared by seller
    Inoee f at the time of sale of gouds
    vrom Credit
    * (ash memo: Prepared by seller at the ti
    of sale of goad'e on cash
    * fay-in- sip: Used to deosit Cash or
    cheque into bank I has a countezto!
    retuined do the clepo siter with sinatue
    of the authorised person
    * keciept: 2sed when a custamer& qivee
    Cash to the busine ssmant is an
    a cknowledqement fee payment
    YeCiLVed
    Cheque: chque i's an order 2n
    writing, drawn upan a specihed
    éanker and fayable on démano
    *ebit Wate: t i prepared hen a
    buyer returns qóed to celler Beparel
    6uthe buyer bf the qoods
    *Ciidit Mote ft is prepared when a
    seller yeoievef geddt from abuyer or
    where Sales tefuyn transaction_enter'
    in the book of accounte. Jtgt is
    prepared by the stller gf the goads.
    Moucher
    d toucher is a document evid'encing
    a bussness transactian
    locsttication of Hccounting Ubuchers
    To show Cah
    Cash Voucher Debit yoúcher paymegtc
    Lredit youcher-70 Sho ash
    rtciepts
    To show trahsacton
    cHNon-Cash Vouchey >Trontervocher- nat lnvolving cash
    oCash Voucher:
    .Debit Voucher: Pre poved ton all cash payments
    Eg: Rent,salary ,ete Satdamat fhonhi
    "Credit Voucher:Frepared fox cash rec ieved
    bu business firm Such as Sale ot qoods
    for Cash,payment recieved fom any
    debtors,ete
    (4) Non -Cash Voucher:
    ECredit sales,depreciation, (vedit purchaseç,ete
    Journal:
    he fis baok n 2which the tran gactiang
    of a buSiness are relorded 2s called
    oLrnal
    Business transactibns are recorded an a
    chronelogial 0rder. lach record in a
    jÜuYnal i caled an enty t i alto
    Sormat of Jounal:Ledger
    Date Par ticulars Folio_S)

    Mpes of Enties: [in which onls a


    account s are afected ne account
    is debted and another ts cxedited
    an e9ual amouhtJ1
    Rules of Debil Creolil :
    £very bus iness tran sactton alfecls 2 or
    nore accounts. An acCOUrnl 1f a summarl
    YeCOYd as hansaction relafed t a
    Mrdicular hea d al one place
    An accaunt ir devided inlo R parl c:
    DebiB and Credil.
    AppYoach s to the Rules of Debit GCreclit .
    ta) TiaditionalApprOach
    T Perconal Account:4 tncludes all
    those acounts which aye related to

    IpersenalAccaunts iReal accou nts:


    Related to ascete[except debtrs] Eq:ttachtnt,
    Qeod will
    )onmina l Ocounts: these include all
    the accpuntt related to exppnces /lasses
    and incomeslgains- Ex;alari, vent
    commisçDn tec ieved, et
    RULES;
    Pexsonal Acourt Debit the recievey
    Credit the qiver
    RealAcCount Dehit hat cos in
    Credit wshat qsec out
    NorninalActount Debit al laskes/Eypensek
    Crtditall intomie«/gains
    (b) Modern appraach :
    T. fncrease
    T 1n assets -’ Debit
    Decrease in a Ssets ’ Cred,l
    in txpense ’>
    Sncvease 1n Debit
    AEL Decrease in ENpense- DCredhi.
    Sncrease in doss ’ Debit
    Decreace in doss
    -

    ’ Credit
    iCRL Kiabilities’ ed:t
    1 Snczease in
    Decrease in diabihties ’ Debit
    Sntrease in Capital >rdi!
    Decxease in Capital ’ Debst
    Sncrease in Revtnue
    DecroaKen Revenue >Debit

    ACCOUNTIAG EGUAIIOA:
    AsSets = Capital+ Liabilties

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