dear nikhil sir,if i buy a fixed asset on cash then will it be recorded in cash  book or in both cash book and journal proper?

Hi Aditya,

If we have purchased an asset for cash, it is clear that there is an outflow of cash involved in the transaction. So, it would be recorded in Cash Book. Journal Proper is used to record only those transactions that cannot be recorded in any of the subsidiary books. Accordingly, above transaction will not be recorded in Journal Proper. Hope this clears your doubt.

Keep posting!!!