Clarification of entry.
We have purchsed 100 share by cheque and we have sold 200 share from our stock. Tell how can we give entry to accounts ?
Purchase of Share Share a/c dr Bank a/c cr Sold of shares Bank a/c dr Share a/c cr
At the time of Purchase "Purchase A/C Dr to Bank Cr and " and at the time sold Party A/c Dr to Sales A/C Cr.
What is the difference between single entry system & double entry system?
In Single Entry System Cash / Bank transactions mentioned in same column But double entry transactiones mentioned in seperated by Cash & Bank column.
Single Entry is an incomplete record of book keeping Whereas Duble Entry is an complete record of book keeping.
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