Journal vouchering is an interesting topic in accountancy. It is a written document used to support a business transaction that took place. However there are many features to it that a student needs to understand. The journal vouchers are used to make journal entries. When a home assignment is given to solve, collegians often find it difficult to go through. They literally wish if they could get help with regards to Journal Vouchers Homework Answers.
It is important to understand what makes the Journal voucher so significant.
- Well, journal voucher is generally prepared to track the business transactions. They play an important role in the auditing. No journal entry can be passed without the submission of a voucher entry.
- It is this document that helps in finding any flaws in the transactions of the business.
- The amount entered in the voucher and that of the enter must tally with the description on it.
- Based on such parameters, it is imperative that the collegians get their concepts right. But the case is when it comes to journal vouchers homework answers, they fail miserably at it.
What kind of journal vouchers homework, answers for which students are expected to get?
- Journal voucher does not limit only to one account. It transfers one transaction from one account to another. Accounts of expenditure, revenue, closing budget, deficit accounts are affected.
- The students are expected to record the journal accounting date wise; this will show the flow of events.
Why do students feel the need for journal vouchers homework answers?
- Time bound- with so much to learn and do, getting time to do the home assignment on journal voucher is time consuming. It needs precision. It needs attentiveness. After the long hours of college, getting back to look for the answers for the assignment is tiring.
- They are expected to prepare vouchers for the transactions such as –
- opening balances
- adjustment entries
- Depreciation
- Purchases of fixed assets
- Purchases of assets on credit
- Transfer entries
- Accrual income
- Correction entries
- Sale of fixed assets
- Sale of other assets on credit
- Provisions for expenditure
- Closing entries
And many more transactions are to be taken into account.
How to get help for the journal vouchers homework answers?
- Well, let us work the smart way. Gone are the days of referring to reference books and guides to help the pupil. Earlier the coaching class professor used to do the needful of helping with the answers. Nevertheless, it used to be time consuming. You wait for the professor to deliver you with the right answer, and then write it in your own words and so on.
- The modern way says go the sensible manner, where you think you can save time and energy. Off late there are many homework service providers. They help in with the journal voucher topics and many other accounting topics too. It is better to log on to such site, upload your assignment and remain tension free.
How does seeking help for journal vouchers homework answers benefit the students?
- Timely submissions-
You get your homework delivered much before the due date. So you are stress free on that account.
- Error free-
Since the helpers are all experts in the field of accounting, the answers are 100% genuine and error free. The plagiarism report and grammar report is all attached along with the homework answers.
- Document preparation-
In journal vouchers there are many documents that are required to prepare to support the journal vouchering entries. The experts at work do it with utmost precision and accuracy. Documents involved are –
- Invoices made for non-trading items
- Debit notes and credit notes
- Rectification of errors
- Vouchers for any prepaid or outstanding expenses
For example, if $10000 is paid on 01.01.15to Martian & Co. towards insurance premium for its garage for the period of 01.01.15 to 31.12.15. Prepare journal voucher for prepaid insurance
Ans. Here since is a prepaid expense for the next financial year, it is necessary that adjustment in the prepaid expenses column be shown. This will help in giving the right position of the Statement of affairs for the current year as well as the next year too.
The entry would be
For every quarter it is $2500-
Premium paid actual for the current year will be taken as (01.01.15-31.03.15) = 10000-7500 is
| Martian & Co | |
| JOURNAL VOUCHER | |
| Voucher No. 5995Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Date: 31.03.15 | |
| PARTICULARS | AMOUNT IN $ |
| Debit:Â Prepaid Insurance Account | 7500/= |
| Total | Â Â Â Â Â Â Â Â Â Â Â 7500 |
| Credit:Â Insurance Expenses Account | 5000/= |
| Total | 2500/= |
| Narration:Â Being sumpaid for insurance premium from 01.04.15 to 31.12.15 is adjusted against insurance expenses (copy of insurance policy enclosed) | |
| Manager                                             Accountant | |
- Round the clock service–
The student could approach the expert at any time of the day if there is a difficulty in understanding of a topic.
- Option for online tutoring–
There is a scope for online tutoring as well. So if you need coaching on a particular subject, you need not travel anywhere to get your doubts sorted. At your leisurely hours, you could get your tutorials done.
- Detailed analysis report–
With every answer is a detailed report as why a certain transaction was dealt in a certain way. This helps students to understand the matter very well. The homework is done and so is the revision too.
Wrap up!
Students are thus well focused and can do better with the help from homework service providers.