Journal is a book of secondary entry?

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Solution

No, Journal is not a book of secondary entry since it is the book of original entry or primary entry.

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Q. Answer in once sentence only.

Why is journal called the Book of Prime Entry?

State whether the following statements are true or false:

(1) A journal voucher is must for all transactions recorded in the journal.
(2) Journal is a book of secondary entry.
(3) Narration is not necessary for each and every journal entry.
(4) Every transaction is recorded first in the journal.
(5) Live Stock A/c is a Nominal A/c.
(6) Bank of Maharashtra A/c is a Nominal A/c.
(7) Brokerage paid on sale of goods is debited to brokerage A/c.
(8) If the goods are sold the entry should be recorded in the journal.
(9) Goods withdrawn by the proprietor from business is debited to the Drawing A/c.
(10) Cash discount does not appear in the books of accounts.
(11) If rent is paid to the landlord, landlord’s A/c should be debited.
(12) Book keeping records monetary transactions only.
(13) Drawings made by the proprietor increases his capital.
(14) Premium paid on the life policy of the proprietor should be debited to insurance premium account.

Q. Pass Journal entries in the books of Hari Shankar & Co. from the following:

2017		₹
April 1	Commenced business with cash	50,000
2	Purchased goods from Subhash	20,000
4	Sold goods to Ramnath	15,000
6	Ramnath returned defective goods	1,000
10	Received cash from Ramnath and	13,800
	Discount allowed	200
12	Gopal sold goods to us	10,000
14	Paid to Gopal in full settlement of his account after deducting 5% discount.
15	Paid Rent	10,000
16	Paid Rent of Hari Shankar's residence	5,000
18	Purchased goods for cash from Govind for ₹ 6,000 at 20% trade discount.
20	Purchased goods from Govind for ₹ 10,000 at 20% trade discount.
24	Paid to Govind ₹ 7,850 in full settlement of his account.
25	Paid to Subhash ₹ 4,750; discount received ₹ 250.
30	Paid Wages ₹ 400; Salaries ₹ 4,000; Advertisement expenses ₹ 800 and Trade expenses ₹ 1,000.

Q. What is difference between journal book and journal entry

Q. General Journal is a book of entries ______.

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