Question

Debit voucher is prepared in case of …..

(a) expenses incurred (b) purchases of goods

(c) payment to creditors (d) All of these​

Answer 1

Answer:

b

purchases of good

debit vouchers are prepared in the following case: Purchases of goods on cash basis, purchase of fixed on cash and payment of expenses etc.

Answer 2

ANSWER :

★ (d) All of these.

• ❍ Debit voucher is prepared in case of all of the above mentioned situations; i.e, when expenses incurred, purchases of goods and payment to creditors.

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EXPLANATION :

✎ What is a Debit Voucher ?

• ➺ Debit vourcher is an accounting voucher which is prepared when cash payment is made to any third party.

• ➺ When a cash payment is made by a business entity to the third party, an accounting voucher is prepared as a source document. This kind of voucher is known as Debit voucher.

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✎ What are the information contained in a Debit voucher ?

• ➺ Name and address of the organization

• ➺ Date of preparing the voucher

• ➺ Number of the voucher

• ➺ Particulars of supporting source document

• ➺ Name of the account to be debited

• ➺ Amount of net payment

• ➺ Brief description of the transaction

• ➺ Signature of the person who prepared the voucher

• ➺ Signature of the authorized signatory

• ➺ Document in support of voucher (is to be attached)

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✎ What are some transactions for which Debit vouchers are prepared ?

• ➺ Payment made for purchases of goods in cash

• ➺ Payment of expenses ( rent, salary, wage etc. ) in cash

• ➺ Payment to the party from whom goods are purchased earlier on credit; i.e, creditors

• ➺ Payment made for purchases of assets in cash

• ➺ Granting advance payments to the employees etc.