Commerce Exam > Commerce Notes > TS Grewal Solutions - Class 11 Accountancy > Special Purpose Books II- Other Book(Part-1)
Special Purpose Books II- Other Book(Part-1) | TS Grewal Solutions - Class 11 Accountancy - Commerce PDF Download
Page No 11.42:
Question 1: Record the following transactions in the Purchases Book of Subhash General Stores, Delhi:
ANSWER:
Page No 11.42:
Question 2: Verma Bros. Kolkata carry on business as wholesale cloth dealer. From the following, write up their Purchases Book for January, 2019:
Show the posting from Purchases Book to Ledger accounts also.
ANSWER:
Page No 11.43:
Question 3: From the following transactions of Kamal, Guwahati, prepare Purchases Book and post into Ledger:
ANSWER:
Page No 11.43:
Question 4: The following purchases were made by Karam, Kolkata, during the month of April, 2019. Prepare Purchases Book and post into Ledger Accounts:
ANSWER:
Page No 11.43:
Question 5: Prepare Sales Book from the following transactions of Hema Traders, Kolkata dealing in furniture. Open the Ledger Accounts also:
ANSWER:
Page No 11.44:
Question 6: From the following particulars, prepare a Sales Book of M/s. Gyan Prasad & Bros., Delhi, dealers of stationery and post into Ledger Accounts:
ANSWER:
Page No 11.44:
Question 7: From the following particulars, prepare Sales Book of Gupta & Co., Kolkata who deals in furniture:
Show the Posting from Sales Book to Ledger Accounts.
ANSWER:
Page No 11.45:
Question 8: Prepare Purchases and Sales Book from the following transactions of Rahul, Bengaluru:
ANSWER:
Page No 11.45:
Question 9: Prepare Purchases Return Book of Aruna Stores, Kolkata from the following transactions and post them into Ledger:
ANSWER:
Page No 11.46:
Question 10: Record the following transactions in the Purchases Return Book of Kamla Stores, Delhi for April, 2019:
ANSWER:
Page No 11.46:
Question 11: Prepare Sales Return Book of Shiv Shankar, Delhi from the following transactions and post them into Ledger:
Answer:
Page No 11.46:
Question 12: Enter the following transactions in the Sales Return Book of Raj Computers, Delhi:
Write up the Ledger Accounts.
ANSWER:
Page No 11.46:
Question 13: Prepare Returns Inward and Return Outward Books of Manoj, Mumbai from the following transactions and post them into Ledger Accounts:
ANSWER:
The document Special Purpose Books II- Other Book(Part-1) | TS Grewal Solutions - Class 11 Accountancy - Commerce is a part of the Commerce Course TS Grewal Solutions - Class 11 Accountancy.
All you need of Commerce at this link: Commerce
FAQs on Special Purpose Books II- Other Book(Part-1) - TS Grewal Solutions - Class 11 Accountancy - Commerce
| 1. What is a special purpose book in commerce? |  |
Ans. A special purpose book in commerce is a type of accounting book used to record specific types of transactions or information. It is designed to serve a specialized function within a business, such as tracking sales, inventory, or cash flow. These books provide detailed and organized records that help businesses analyze and manage their financial operations effectively.
| 2. What are some examples of special purpose books in commerce? | |
Ans. Some examples of special purpose books in commerce include:
- Cash book: Used to record all cash receipts and payments.
- Sales book: Used to record all sales transactions.
- Purchase book: Used to record all purchase transactions.
- Journal proper: Used to record non-regular or adjusting entries.
- Petty cash book: Used to record small cash payments.
- General ledger: Used to record all financial transactions of a business.
These books serve specific functions and are important for maintaining accurate and organized financial records.
| 3. Why are special purpose books important in commerce? | |
Ans. Special purpose books are important in commerce for several reasons:
- They provide an organized and systematic way of recording specific types of transactions, ensuring accuracy and completeness.
- They help businesses track and analyze their financial activities, allowing for better decision-making and financial management.
- They facilitate the preparation of financial statements, such as income statements and balance sheets, by providing the necessary data.
- They aid in complying with legal and regulatory requirements by maintaining proper records of financial transactions.
- They simplify the auditing process by providing a clear trail of financial transactions and supporting documentation.
Overall, special purpose books play a crucial role in ensuring the financial integrity and efficiency of a business.
| 4. How are special purpose books different from general purpose books in commerce? | |
Ans. Special purpose books and general purpose books differ in their scope and focus:
- Special purpose books are designed to record specific types of transactions or information, such as cash transactions, sales, or purchases. They serve a specialized function within a business and provide detailed and organized records for specific purposes.
- General purpose books, on the other hand, are more comprehensive and cover a wide range of financial transactions. Examples include the general journal and general ledger, which record all types of transactions, including cash, sales, purchases, expenses, and more.
While special purpose books cater to specific needs and provide detailed information, general purpose books offer a broader overview of a business's financial activities.
| 5. How can businesses ensure the accuracy of their special purpose books in commerce? | |
Ans. To ensure the accuracy of special purpose books in commerce, businesses can follow these practices:
- Implement proper internal controls, such as segregation of duties, to minimize the risk of errors or fraud.
- Regularly reconcile the balances in special purpose books with supporting documents, such as bank statements or invoices.
- Conduct periodic audits or reviews of the special purpose books to identify and rectify any discrepancies or errors.
- Train and educate employees responsible for maintaining the special purpose books to ensure they understand the proper recording procedures and accounting principles.
- Utilize accounting software or automated systems to streamline the recording and reconciliation process, reducing the chances of manual errors.
By implementing these measures, businesses can maintain accurate and reliable special purpose books, which serve as a foundation for sound financial decision-making.
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