Ledger Trial Balance and BRS Test - 4

Sale Book is prepared for recording credit sale transaction.

debit note is issued by purchaser to vendor at the time of returning good.

Assets are the property of a business in its name. So factory owned by company is example of assets

Assets are property owned by business in its name. But loan is amount which business have to pay in future, it is an obligation or debt on business . So it is not assets.

amount overdrawn on the firms account is the amount due on the part of firm to bank which increases liability.

Assets are business property and have a debit balance. So when assets increases , it become debited in the books.

yes. Cash memo are prepared on cash sale or cash purchase and Invoices are on credit transaction of sale and purchase. 

these both are source documents, on the basis of which we record transaction.

Purchase book records credit transactions and daily balance of purchase book is transferred to purchase account.

Purchase return book is prepared to record all credit returns of purchases. So the balance of purchase retrun book is transferred to purchase book on periodical basis.

A debit voucher helps in recording expenses or a liability and also helps in its payment. They are also called Source Documents as they help in identifying the source of a transaction. Examples include bill receipts, cash memos, pay-in-slips.