Class 11 Accountancy - Chapter Recording of Transactions - 1 NCERT Solutions | What is a journal? Give a specimen of jo
What is a journal? Give a specimen of journal showing at least five entries.
Journal is derived from the French word Jour, means daily records. In this book, transactions are recorded in order of their occurrence, i.e., in chronological order from the source document. It is also termed as the book of original entry and each transaction is termed as journal entry.
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Performa of Journal |
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Debit |
Credit |
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Date− Date of transaction is recorded in the order of their occurrence.
Particulars− Details of business transactions like, name of the parties involved and the name of related accounts, are recorded.
L.F.− Page number of ledger account when entry is posted.
Debit Amount− Amount of debit account is written.
Credit Amount− Amount of credit account is written.
Recording of a Journal Entry
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Date |
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1) |
Started business with cash Rs 1,00,000 |
April 01 |
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2) |
Open a bank account Rs 20,000 |
April 03 |
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3) |
Purchase goods for cash Rs 25,000 |
April 04 |
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4) |
Goods sold for cash Rs 30,000 |
April 05 |
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5) |
Goods sold to Mr. X Rs 2,000 |
April 06 |
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Books of Mr A |
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Journal |
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Date |
Particulars |
L.F. |
Debit Amount Rs |
Credit Amount Rs |
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April1 |
Cash A/c |
Dr. |
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1,00,000 |
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To Capital A/c |
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1,00,000 |
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(Started business with cash) |
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April 3 |
Bank A/c |
Dr. |
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20,000 |
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To Cash A/c |
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20,000 |
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(Bank account opened with cash) |
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April 4 |
Purchase A/c |
Dr. |
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25,000 |
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To Cash |
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25,000 |
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(Goods purchased for cash) |
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April 5 |
Cash A/c |
Dr. |
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30,000 |
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To Sales A/c |
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30,000 |
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(Goods sold for cash) |
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April 6 |
Mr. X's A/c |
Dr. |
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2,000 |
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To Sales |
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2,000 |
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(Goods sold to Mr. X on credit) |
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Total |
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177,000 |
177,000 |
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More Questions From Class 11 Accountancy - Chapter Recording of Transactions - 1
- Q:-
Differentiate between source documents and vouchers.
- Q:-
Voucher is prepared from:
(i) Documentary evidence
(ii) Journal entry
(iii) Ledger account
(iv) All of the above - Q:-
The journal entry to record the sale of services on credit should include:
(a) Debit to debtors and credit to capital.
(b) Debit to cash and Credit to debtors.
(c) Debit to fees income and Credit to debtors.
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(i) Cash account
(ii) Machine account
(iii) Purchase account
(iv) None of these - Q:-
Select Right Answer:
Voucher is prepared for:
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(ii) Cash/Credit sales
(iii) Cash/Credit purchase
(iv) All of the above - Q:-
Should a transaction be first recorded in a journal or ledger? Why?
- Q:-
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(ii) Capital account
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Choose the Correct Answer :
The ledger folio column of journal is used to:
(a) Record the date on which amount posted to a ledger account.
(b) Record the number of ledger account to which information is posted.
(c) Record the number of amounts posted to the ledger account.
(d) Record the page number of the ledger account. - Q:-
What entry (debit or credit) would you make to:
(a) increase revenue
(b) decrease in expense,
(c) record drawings
(d) record the fresh capital introduced by the owner. - Q:-
Give a specimen of an account.
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