Recording example sentences

” When the debentures are redeemed, the requisite amount of Debenture Redemption Reserve is transferred to General Reserve by recording the following journal entry.” When the debentures are redeemed, the requisite amount of Debenture Redemption Reserve is transferred to General Reserve by recording the following journal entry.The source document for recording entries in the sales return book is generally the credit note.The personal assets and liabilities of the owner are, therefore, not considered while recording and reporting the assets and liabilities of the business.When the recording of transaction is partly omitted from the books, it is an error of partial omission.One of the reasons for the adoption of 'Historical Cost' as the basis of recording accounting transaction is that adherence to the principle of objectivity is made possible by it.While everyone stood stunned, the lawyer quietly switched on the recording equipment.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.Recording all the revenue expenditure items appeared on the debit side of trial balance on the debit side of income statement after making adjustments for outstanding, prepaid expenses, depreciation, provisions for bad debts, taxes, etc.When a business compares the balance of its cash book with the balance shown by the bank passbook, there is often a difference, which is caused by the time gap in recording the transactions relating either to payments or receipts.If error is posting to a wrong account on the wrong side (without mentioning amount of posting) then assume that posting has been done with the amount as per the original recording of the transaction.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.Accounting can therefore be defined as the process of identifying, measuring, recording and communicating the required information relating to the economic events of an organisation to the interested users of such information.In other words, at least two accounts will be involved in recording a transaction.on the basis of which payment has been made, will serve as a source document for recording transactions in the cash book.