Ask a Doubt
Request a call back

Join NOW to get access to exclusive study material for best results

CBSE Class 11-commerce Answered

Is journal a book of original entry? Explain
Asked by Topperlearning User | 14 Jun, 2016, 05:30: PM
answered-by-expert Expert Answer

All the transactions recorded in the books for the first time is called journal or book of original entry. The source documents are used to record all these transactions in the journal. These transactions are entered with the details of debit and credit in the journal and are transferred to an individual account. This sequence causes the journal to be called the book of original entry and the ledger account is called principal book of entry.

Answered by | 14 Jun, 2016, 07:30: PM
Multiple Choice Questions Practice Test
Answered Unanswered My Questions My Answers
CBSE 11-commerce - Accountancy Part I
Define journal and journalising.
Asked by Topperlearning User | 14 Jun, 2016, 05:30: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Give the format of a journal and explain in detail.
Asked by Topperlearning User | 14 Jun, 2016, 05:30: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Explain bad debts in brief. Give an example.
Asked by Topperlearning User | 14 Jun, 2016, 05:30: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Write down the limitations of a journal.
Asked by Topperlearning User | 14 Jun, 2016, 05:30: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Is journal a book of original entry? Explain
Asked by Topperlearning User | 14 Jun, 2016, 05:30: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
What are the steps involved in journalising?
Asked by Topperlearning User | 14 Jun, 2016, 05:30: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
What do you mean by discount? Explain the types of discount.
Asked by Topperlearning User | 14 Jun, 2016, 05:30: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Rebello purchased from Rs.100 each on which he is given 20% Trade Discount. He is further given 2% Cash Discount as he made payment for the purchases immediately. Calculate the amount that Rebello will debit in purchases account. Pass necessary journal entries for the following transaction.
Asked by Topperlearning User | 04 Jul, 2016, 12:36: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Journalise the following transactions:       Date    Rs.  2016 March 31 Stock at the end of the year 40,000   Salaries due to staff 8,500   Sold goods to Mohan 20,000   Purchased goods from Radha 10,000   Withdrawn from bank for private use 1,000   Placed in fixed Deposit Account at bank by transfer from current account. 6,000   Goods given as charity 5,000  
Asked by Topperlearning User | 28 Jul, 2016, 05:37: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Journalise the following transactions : 2016     Rs. May 2 Paid interest to Loan 4,000 May 3 Ramesh who owed Rs.3,000 has become insolvent. He pays 50 paise in rupee in full settlement   May 4 A cheque received from Ranjan deposited into bank was returned dishonored 6,300 May 5 Wood used for making office furniture 5,000 May 21 Due from Rama are bad debts 600 May 25 Purchased building and issued cheque 4,300  
Asked by Topperlearning User | 28 Jul, 2016, 05:26: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
My Class Videos Tests ₹ Plans Ask a Doubt
Get Latest Study Material for Academic year 24-25 Click here
×