Commerce Exam > Commerce Notes > Accountancy Class 11 > NCERT Solution (Part - 4) - Recording of Transactions-I
NCERT Solution (Part - 4) - Recording of Transactions-I | Accountancy Class 11 - Commerce PDF Download
Page No 94:
Q16 : Journalise the following transactions, post to the ledger:
Answer :
Q 17 : Journalise the following transactions is the journal of M/s. Goel Brothers and post them to the ledger.
Answer : 
Q18 :
Give journal entries of M/s. Mohit traders; post them to the Ledger from the following transactions:
Answer:
Q19 :
Journalise the following transaction in the Books of the M/s. Bhanu Traders and Post them into the Ledger.
Answer :
Note: For transaction on December 29, 2017, it has been assumed that the rent of Rs 3,000 is paid through cheque. If instead the rent would have been paid in cash, the cash account would have shown a credit (negative) balance and that is logically not correct.
Page No 96:
Q20 : Journalise the following transaction in the Book of M/s. Beauti tradeRs Also post them in the ledger.
Answer :
Q21 : Journalise the following transaction in the books of Sanjana and post them into the ledger:
Answer :
Page No 97:
Question 22:Record journal entries for the following transactions in the books of Anudeep of Delhi:
(a) Bought goods Rs. 2,00,000 from Kanta of Delhi (CGST @ 9%, SGST @ 9%)
(b) Bought goods Rs. 1,00,000 for cash from Rajasthan (IGST @ 12%)
(c) Sold goods Rs. 1,50,000 to Sudhir of Punjab (IGST @ 18%)
(d) Paid for Railway Transport Rs. 10,000 (CGST @ 5%, SGST @ 5%)
(e) Sold goods Rs. 1,20,000 to Sidhu of Delhi (CGST @ 9%, SGST @ 9%)
(f) Bought Air-Condition for office use Rs. 60,000 (CGST @ 9%, SGST @ 9%)
(g) Sold goods Rs. 1,50,000 for cash to Sunil to Uttar Pradesh (IGST 18%)
(h) Bought Motor Cycle for business use Rs. 50,000 (CGST 14%, SGST @ 14%)
(i) Paid for Broadband services Rs. 4,000 (CGST @ 9%, SGST @ 0%)
(j) Bought goods Rs. 50,000 from Rajesh, Delhi (CGST @ 9%, SGST @ 9%)
ANSWER:
The document NCERT Solution (Part - 4) - Recording of Transactions-I | Accountancy Class 11 - Commerce is a part of the Commerce Course Accountancy Class 11.
All you need of Commerce at this link: Commerce
|
82 videos|167 docs|42 tests
|
FAQs on NCERT Solution (Part - 4) - Recording of Transactions-I - Accountancy Class 11 - Commerce
| 1. What is the purpose of recording transactions in accounting? |  |
Ans. The purpose of recording transactions in accounting is to maintain a systematic and accurate record of all financial activities of a business. This helps in tracking the inflow and outflow of funds, analyzing financial performance, and preparing financial statements.
| 2. What are the different methods of recording transactions? | |
Ans. There are two main methods of recording transactions in accounting - the single-entry system and the double-entry system. In the single-entry system, only one aspect of a transaction is recorded, usually the cash aspect. In the double-entry system, both the debit and credit aspects of a transaction are recorded, ensuring that the accounting equation (Assets = Liabilities + Owner's Equity) remains balanced.
| 3. How are transactions recorded in the single-entry system? | |
Ans. In the single-entry system, transactions are recorded in a simple manner. Cash transactions are recorded in a cash book, while non-cash transactions like credit sales or purchases are recorded in a separate account called the personal account. This method is generally used by small businesses with simple financial transactions.
| 4. How are transactions recorded in the double-entry system? | |
Ans. In the double-entry system, each transaction is recorded by making two entries - a debit entry and a corresponding credit entry. Debit represents an increase in assets or expenses, while credit represents an increase in liabilities, owner's equity, or revenue. This method ensures that the accounting equation remains balanced.
| 5. What are the advantages of recording transactions accurately and promptly? | |
Ans. Recording transactions accurately and promptly has several advantages. It provides a clear picture of a business's financial health, helps in making informed decisions, facilitates the preparation of financial statements, and ensures compliance with legal and regulatory requirements. It also helps in identifying errors or frauds and enables effective financial analysis and management.
About this Document
|
4.1K Views |
|
4.87/5 Rating |
|
Nov 21, 2024 Last updated |
Document Description: NCERT Solution (Part - 4) - Recording of Transactions-I for Commerce 2024 is part of Accountancy Class 11 preparation.
The notes and questions for NCERT Solution (Part - 4) - Recording of Transactions-I have been prepared according to the Commerce exam syllabus. Information about NCERT Solution (Part - 4) - Recording of Transactions-I covers topics
like and NCERT Solution (Part - 4) - Recording of Transactions-I Example, for Commerce 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises and tests below for NCERT Solution (Part - 4) - Recording of Transactions-I.
Introduction of NCERT Solution (Part - 4) - Recording of Transactions-I in English is available as part of our Accountancy Class 11
for Commerce & NCERT Solution (Part - 4) - Recording of Transactions-I in Hindi for Accountancy Class 11 course.
Download more important topics related with notes, lectures and mock test series for Commerce
Exam by signing up for free. Commerce: NCERT Solution (Part - 4) - Recording of Transactions-I | Accountancy Class 11 - Commerce
Description
Full syllabus notes, lecture & questions for NCERT Solution (Part - 4) - Recording of Transactions-I | Accountancy Class 11 - Commerce - Commerce | Plus excerises question with solution to help you revise complete syllabus for Accountancy Class 11 | Best notes, free PDF download
Information about NCERT Solution (Part - 4) - Recording of Transactions-I
In this doc you can find the meaning of NCERT Solution (Part - 4) - Recording of Transactions-I defined & explained in the simplest way possible. Besides explaining types of
NCERT Solution (Part - 4) - Recording of Transactions-I theory, EduRev gives you an ample number of questions to practice NCERT Solution (Part - 4) - Recording of Transactions-I tests, examples and also practice Commerce
tests
|
Explore Courses for Commerce exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
ppt
,past year papers
,Extra Questions
,NCERT Solution (Part - 4) - Recording of Transactions-I | Accountancy Class 11 - Commerce
,NCERT Solution (Part - 4) - Recording of Transactions-I | Accountancy Class 11 - Commerce
,mock tests for examination
,Free
,video lectures
,Summary
,shortcuts and tricks
,Important questions
,NCERT Solution (Part - 4) - Recording of Transactions-I | Accountancy Class 11 - Commerce
,Exam
,Semester Notes
,MCQs
,Sample Paper
,study material
,Previous Year Questions with Solutions
,Objective type Questions
,practice quizzes
,Viva Questions
;
Additional Information about NCERT Solution (Part - 4) - Recording of Transactions-I for Commerce Preparation
NCERT Solution (Part - 4) - Recording of Transactions-I Free PDF Download
The NCERT Solution (Part - 4) - Recording of Transactions-I is an invaluable resource that delves deep into the core of the Commerce exam.
These study notes are curated by experts and cover all the essential topics and concepts, making your preparation more efficient and effective.
With the help of these notes, you can grasp complex subjects quickly, revise important points easily,
and reinforce your understanding of key concepts. The study notes are presented in a concise and easy-to-understand manner,
allowing you to optimize your learning process. Whether you're looking for best-recommended books, sample papers, study material,
or toppers' notes, this PDF has got you covered. Download the NCERT Solution (Part - 4) - Recording of Transactions-I now and kickstart your journey towards success in the Commerce exam.
Importance of NCERT Solution (Part - 4) - Recording of Transactions-I
The importance of NCERT Solution (Part - 4) - Recording of Transactions-I cannot be overstated, especially for Commerce aspirants.
This document holds the key to success in the Commerce exam.
It offers a detailed understanding of the concept, providing invaluable insights into the topic.
By knowing the concepts well in advance, students can plan their preparation effectively.
Utilize this indispensable guide for a well-rounded preparation and achieve your desired results.
NCERT Solution (Part - 4) - Recording of Transactions-I Notes
NCERT Solution (Part - 4) - Recording of Transactions-I Notes offer in-depth insights into the specific topic to help you master it with ease.
This comprehensive document covers all aspects related to NCERT Solution (Part - 4) - Recording of Transactions-I.
It includes detailed information about the exam syllabus, recommended books, and study materials for a well-rounded preparation.
Practice papers and question papers enable you to assess your progress effectively.
Additionally, the paper analysis provides valuable tips for tackling the exam strategically.
Access to Toppers' notes gives you an edge in understanding complex concepts.
Whether you're a beginner or aiming for advanced proficiency, NCERT Solution (Part - 4) - Recording of Transactions-I Notes on EduRev are your ultimate resource for success.
NCERT Solution (Part - 4) - Recording of Transactions-I Commerce Questions
The "NCERT Solution (Part - 4) - Recording of Transactions-I Commerce Questions" guide is a valuable resource for all aspiring students preparing for the
Commerce exam. It focuses on providing a wide range of practice questions to help students gauge
their understanding of the exam topics. These questions cover the entire syllabus, ensuring comprehensive preparation.
The guide includes previous years' question papers for students to familiarize themselves with the exam's format and difficulty level.
Additionally, it offers subject-specific question banks, allowing students to focus on weak areas and improve their performance.
Study NCERT Solution (Part - 4) - Recording of Transactions-I on the App
Students of Commerce can study NCERT Solution (Part - 4) - Recording of Transactions-I alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the NCERT Solution (Part - 4) - Recording of Transactions-I,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of NCERT Solution (Part - 4) - Recording of Transactions-I is prepared as per the latest Commerce syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup