DK Goel Solutions Class 11 Accountancy Chapter 12 Books of Original Entry Special Purpose Subsidiary Books

Read DK Goel Class 11 Accountancy Solutions for Chapter 12 Books of Original Entry Special Purpose Subsidiary Books below. These DK Goel Accountancy Class 11 solutions have been prepared based on the latest book for DK Goel Class 11 for the current academic year by expert accounts teachers at studiestoday.com. These DK Goel Class 11 Solutions help commerce students in class 11 understand accountancy and build a strong base in accounts. Students in Class 11 who study accountancy and use the DK Goel Accountancy book to understand concepts of Chapter 12 Books of Original Entry Special Purpose Subsidiary Books should understand the concepts and solve practice questions and exercises given at the end of the chapter. We have provided solutions for all questions and have also provided short notes for each problem. This will help Class 11 DK Goel Accountancy students to understand the questions properly. Refer to the solutions provided below prepared by CBSE NCERT teachers

Chapter 12 Books of Original Entry Special Purpose Subsidiary Books DK Goel Class 11 Solutions

Class 11 Accountancy students should read the following DK Goel Solutions for Class 11 Chapter 12 Books of Original Entry Special Purpose Subsidiary Books in Standard 11. All solutions provided below can be downloaded in Pdf and are available for free. This DK Goel Book for Grade 11 Accountancy will be very useful for exams and help you to score good marks in Class 11 accountancy examinations. On our website www.studiestoday.com, we have provided solutions for all chapters given in the DK Goel Accountancy Book for Class 11.

DK Goel Solutions Chapter 12 Books of Original Entry Special Purpose Subsidiary Books Class 11 Accountancy

Question 1.

Solution  1: Purchases Book:- All the credit purchases of goods are recorded in the purchases book. This is a subsidiary book which records credit purchase of goods. Purchases Book also known as invoice book or purchases day book.

Purchases Return Book:- This book is used to recorded the return of such goods as work purchases on credit basis. This book is also known as return onward book.

 

Question 2. 

Solution  2: Debit note:- A debit note is prepared by the purchaser when goods are returned by him is called a debit note because the party’s account is debited with the amount written in it.

Credit note:- A credit note is prepared by the seller when the goods sold are received back. It is called a credit note because the party’s account, from whom goods are received back, is credited with the amount written in the note.

 

Question 3. 

Solution  3: Below are the entries which have to be passed through a journal through we might have kept all the subsidiary books in the business:-

1.) Purchases of Fixed Assets on Credit i.e. Purchases of Machinery on credit basis.

2.) Making provisions for doubtful debts.

3.) Providing depreciation on assets.

 

Question 1.

Solution 1:

DK Goel Solutions Class 11 Accountancy Books of Original Entry Special Purpose Subsidiary Books

DK Goel Solutions Class 11 Accountancy Books of Original Entry Special Purpose Subsidiary Books-

 

Working Note:-

  1. Price of a chair = Rs. 2,000

Price of 20 such chairs = Rs. 2,000 × 20 = Rs. 40,000

Price of a table = Rs. 6,000

Price of 5 such tables = Rs. 6,000 × 5 = Rs. 30,000

 

  1. Price of a Almirah = Rs. 12,000

Price of 5 such chairs = Rs. 12,000 × 5 = Rs. 60,000

Price of a Revolving chairs = Rs. 20,000

Price of 2 such tables = Rs. 20,000 × 2 = Rs. 40,000

 

Point of Knowledge:-

In Purchases Book, we record only the credit purchase of goods, so transaction dated June 20 (being cash purchase of goods) and June 25 (being credit purchase of Fixed Asset) will not be recorded.

 

Question 2. 

Solution 2:

DK Goel Solutions Class 11 Accountancy Books of Original Entry Special Purpose Subsidiary Books-2

DK Goel Solutions Class 11 Accountancy Books of Original Entry Special Purpose Subsidiary Books-3

Point of Knowledge:-

In Purchases Book, we record only the credit purchase of goods, so transaction dated May 15 (being purchase of Furniture on credit) and May 25 (being purchase of goods for cash) will not be recorded.

 

Question 3. 

Solution 3:

DK Goel Solutions Class 11 Accountancy Books of Original Entry Special Purpose Subsidiary Books-5

DK Goel Solutions Class 11 Accountancy Books of Original Entry Special Purpose Subsidiary Books-6

Working Note:-

  1. Price of a chair = Rs. 2,500

Price of 120 such chairs = Rs. 2,500 × 120 = Rs. 3,00,000

Price of a table = Rs. 8,000

Price of 25 such tables = Rs. 8,000 × 25 = Rs. 2,00,000

  1. Price of a Almirah = Rs. 15,000

Price of 8 such chairs = Rs. 15,000 × 8 = Rs. 1,20,000

Price of a Steel cabinet = Rs. 20,000

Price of 9 such tables = Rs. 20,000 × 9 = Rs. 1,80,000

Point of Knowledge:-

In Sales Book, we record only the credit sale of goods, so transaction dated June 12 (being Computer sold on credit) and June 20 (being Sofa Sets sold for cash) will not be recorded.

 

Question 4.

Solution 4:

DK Goel Solutions Class 11 Accountancy Books of Original Entry Special Purpose Subsidiary Books-7

DK Goel Solutions Class 11 Accountancy Books of Original Entry Special Purpose Subsidiary Books-8

Working Note:-

  1. Price of a Musical Alarm Clock = Rs. 800

Price of 50 such Musical Alarm Clock = Rs. 800 × 50 = Rs. 40,000

Price of a Wallclock = Rs. 500

Price of 40 such Wallclock = Rs. 500 × 40 = Rs. 20,000

  1. Price of a Deluxe Wall Clocks = Rs. 800

Price of 75 such Deluxe Wall Clocks = Rs. 800 × 75 = Rs. 60,000

Price of a Super Deluxe Wall Clocks = Rs. 1,000

Price of 40 such tables = Rs. 1,000 × 40 = Rs. 40,000

Point of Knowledge:-

In the Sales Book we record only credit transactions related to goods, so transaction dated March 20 (being sale of electronics for cash) will not be recorded.

 

Question 5.

Solution 5:

DK Goel Solutions Class 11 Accountancy Books of Original Entry Special Purpose Subsidiary Books-10

DK Goel Solutions Class 11 Accountancy Books of Original Entry Special Purpose Subsidiary Books-11

Point of Knowledge:-

The purchaser prepares a 'Debit Note' and sends it to the supplier. A Debit Note is prepared w en goods are returned by the purchaser due to some reason. It is called a Debit Note because the party's account is debited with the amount written in this note. The 'Debit Note' is the basis for writing in the Purchases Return or Return Outward Book.

 

Question 6.

Solution 6:

DK Goel Solutions Class 11 Accountancy Books of Original Entry Special Purpose Subsidiary Books-13

DK Goel Solutions Class 11 Accountancy Books of Original Entry Special Purpose Subsidiary Books-14

DK Goel Solutions Class 11 Accountancy Books of Original Entry Special Purpose Subsidiary Books-15

 

Point of Knowledge:-

The reason for maintaining separate accounts for CGST, SGST and IGST are to setoff the GST Paid against the GST Collected in the prescribed order. GST paid or Input GST individually (Input CGST, SGST and IGST) is set off against GST Collected (Output GST) individually (Output CGST, SGST and IGST) in the prescribed order. Hence, it is necessary that separate accounts for Input GST and Output GST for each category of GST be maintained. It will enable the taxpayer to follow prescribed order of setting off the each category of GST.

 

Question 7.

Solution 7:

DK Goel Solutions Class 11 Accountancy Books of Original Entry Special Purpose Subsidiary Books-17

DK Goel Solutions Class 11 Accountancy Books of Original Entry Special Purpose Subsidiary Books-18

 

Point of Knowledge:-

Debit note:- A debit note is prepared by the purchaser when goods are returned by him is called a debit note because the party’s account is debited with the amount written in it.

Credit note:- A credit note is prepared by the seller when the goods sold are received back. It is called a credit note because the party’s account, from whom goods are received back, is credited with the amount written in the note.

 

Question 8.

Solution 8:

DK Goel Solutions Class 11 Accountancy Books of Original Entry Special Purpose Subsidiary Books-19

DK Goel Solutions Class 11 Accountancy Books of Original Entry Special Purpose Subsidiary Books-20

 

Point of Knowledge:-

Only credit transactions are recorded in the Journal Proper.

 

Question 9.

Solution 9:

DK Goel Solutions Class 11 Accountancy Books of Original Entry Special Purpose Subsidiary Books-23

DK Goel Solutions Class 11 Accountancy Books of Original Entry Special Purpose Subsidiary Books-24

DK Goel Solutions Class 11 Accountancy Books of Original Entry Special Purpose Subsidiary Books-25

DK Goel Solutions Class 11 Accountancy Books of Original Entry Special Purpose Subsidiary Books-26

7,73,800

Point of Knowledge:-

Adjustment Entries are passed at the end of the year to adjust the amounts paid or received in advance or for amounts not yet settled in cash. Such an adjustment is also made through Journal entries. Usually the adjustment entries are made for outstanding expenses, prepaid expenses, interest on capital, depreciation, etc.

 

Question 10.

Solution 10:

DK Goel Solutions Class 11 Accountancy Books of Original Entry Special Purpose Subsidiary Books-27

 

Question 11.

Solution 11:

DK Goel Solutions Class 11 Accountancy Books of Original Entry Special Purpose Subsidiary Books-29

 

Working Note:-

1dozen = 12units

120 pen will be = = 10 dozen

Price of 1 dozen pen = Rs. 60

Price of 10 dozen pen = Rs. 60 × 10 = Rs. 600

Point of Knowledge:-

Purchases book records only the credit purchase of goods, so transaction dated June 10 (being purchase of furniture) and June 15 (being purchase of goods for cash) will not be recorded.

 

Question 12.

Solution 12:

DK Goel Solutions Class 11 Accountancy Books of Original Entry Special Purpose Subsidiary Books-31

Point of knowledge:-

Debit note:- A debit note is prepared by the purchaser when goods are returned by him is called a debit note because the party’s account is debited with the amount written in it.

Credit note:- A credit note is prepared by the seller when the goods sold are received back. It is called a credit note because the party’s account, from whom goods are received back, is credited with the amount written in the note.

 

Question 13.

Solution 13:

DK Goel Solutions Class 11 Accountancy Books of Original Entry Special Purpose Subsidiary Books-33

Point of Knowledge:-

Sales book records only the credit sale of goods, so transaction dated Jan. 20, Jan. 24 and Jan. 31 will not be recorded.

 

Question 14.

Solution 14:

DK Goel Solutions Class 11 Accountancy Books of Original Entry Special Purpose Subsidiary Books-36

 

Point of Knowledge:-

Debit note:- A debit note is prepared by the purchaser when goods are returned by him is called a debit note because the party’s account is debited with the amount written in it.

Credit note:- A credit note is prepared by the seller when the goods sold are received back. It is called a credit note because the party’s account, from whom goods are received back, is credited with the amount written in the note.

 

Question 15.

Solution 15:

DK Goel Solutions Class 11 Accountancy Books of Original Entry Special Purpose Subsidiary Books-39

DK Goel Solutions Class 11 Accountancy Books of Original Entry Special Purpose Subsidiary Books-40

DK Goel Solutions Class 11 Accountancy Books of Original Entry Special Purpose Subsidiary Books-41

Point of Knowledge:-

Purchases Book is a subsidiary book in which credit purchases of goods dealt in or stores and raw material used for production are recorded.

Sales Book is a subsidiary book in which credit sales of goods dealt in are recorded.

Journal Proper is a book of account in which those transactions and events are recorded which are not recorded in the subsidiary books.

 

Question 16.

Solution 16:

DK Goel Solutions Class 11 Accountancy Books of Original Entry Special Purpose Subsidiary Books-44

DK Goel Solutions Class 11 Accountancy Books of Original Entry Special Purpose Subsidiary Books-45

DK Goel Solutions Class 11 Accountancy Books of Original Entry Special Purpose Subsidiary Books-46

DK Goel Solutions Class 11 Accountancy Books of Original Entry Special Purpose Subsidiary Books-47

DK Goel Solutions Class 11 Accountancy Books of Original Entry Special Purpose Subsidiary Books-48

Point of knowledge:-

Purchases Book is a subsidiary book in which credit purchases of goods dealt in or stores and raw material used for production are recorded.

Sales Book is a subsidiary book in which credit sales of goods dealt in are recorded.

Journal Proper is a book of account in which those transactions and events are recorded which are not recorded in the subsidiary books.

DK Goel Solutions Class 11 Accountancy Chapter 1 Meaning and Objective of Accounting
DK Goel Solutions Class 11 Accountancy Chapter 2 Basic Accounting Terms
DK Goel Solutions Class 11 Accountancy Chapter 3 Accounting Principles
DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting
DK Goel Solutions Class 11 Accountancy Chapter 5 Accounting Standards and International Financial Reporting Standards
DK Goel Solutions Class 11 Accountancy Chapter 6 Accounting Equations
DK Goel Solutions Class 11 Accountancy Chapter 7 Double Entry System
DK Goel Solutions Class 11 Accountancy Chapter 8 Origin of Transactions Source Documents of Accountancy
DK Goel Solutions Class 11 Accountancy Chapter 9 Books of Original Entry Journal
DK Goel Solutions Class 11 Accountancy Chapter 10 Accounting for Goods and Service Tax
DK Goel Solutions Class 11 Accountancy Chapter 11 Books of Original Entry Cash Book
DK Goel Solutions Class 11 Accountancy Chapter 12 Books of Original Entry Special Purpose Subsidiary Books
DK Goel Solutions Class 11 Accountancy Chapter 13 Ledger
DK Goel Solutions Class 11 Accountancy Chapter 14 Trial Balance and Errors
DK Goel Solutions Class 11 Accountancy Chapter 15 Bank Reconciliation Statement
DK Goel Solutions Class 11 Accountancy Chapter 16 Depreciation
DK Goel Solutions Class 11 Accountancy Chapter 17 Provision and Reserves
DK Goel Solutions Class 11 Accountancy Chapter 18 Bills of Exchange
DK Goel Solutions Class 11 Accountancy Chapter 19 Rectification of Errors
DK Goel Solutions Class 11 Accountancy Chapter 20 Capital and Revenue
DK Goel Solutions Class 11 Accountancy Chapter 21 Financial Statement
DK Goel Solutions Class 11 Accountancy Chapter 22 Financial Statements With Adjustments
DK Goel Solutions Class 11 Accountancy Chapter 23 Accounts from Incomplete Records
DK Goel Solutions Class 11 Accountancy Chapter 24 Introduction to Computer
DK Goel Solutions Class 11 Accountancy Chapter 25 Introduction of Accounting Information System
DK Goel Solutions Class 11 Accountancy Chapter 26 Computerised Accounting System
DK Goel Solutions Class 11 Accountancy Chapter 27 Accounting Software Package Tally
TS Grewal Class 11 Solutions: Double Entry Book Keeping Financial Accounting
TS Grewal Accountancy Class 11 Solution Chapter 1 Introduction of Accounting
TS Grewal Accountancy Class 11 Solution Chapter 2 Basic Accounting Terms
TS Grewal Accountancy Class 11 Solution Chapter 3 Accounting Standards and IFRS
TS Grewal Accountancy Class 11 Solution Chapter 4 Bases of Accounting
TS Grewal Accountancy Class 11 Solution Chapter 5 Accounting Equation
TS Grewal Accountancy Class 11 Solution Chapter 6 Accounting Procedures Rules of Debit and Credit
TS Grewal Accountancy Class 11 Solution Chapter 7 Origin of Transactions Source Documents and Preparation of Voucher
TS Grewal Accountancy Class 11 Solution Chapter 8 Journal
TS Grewal Accountancy Class 11 Solution Chapter 9 Ledger
TS Grewal Accountancy Class 11 Solution Chapter 10 Special Purpose Books I Cash Book
TS Grewal Accountancy Class 11 Solution Chapter 11 Special Purpose Books II Other Book
TS Grewal Accountancy Class 11 Solution Chapter 12 Accounting of Goods and Services Tax (GST)
TS Grewal Accountancy Class 11 Solution Chapter 12 Bank Reconciliation Statement
TS Grewal Accountancy Class 11 Solution Chapter 13 Trial Balance
TS Grewal Accountancy Class 11 Solution Chapter 14 Depreciation
TS Grewal Accountancy Class 11 Solution Chapter 15 Provisions and Reserves
TS Grewal Accountancy Class 11 Solution Chapter 16 Accounting for Bills of Exchange
TS Grewal Accountancy Class 11 Solution Chapter 17 Rectification of Errors
TS Grewal Accountancy Class 11 Solution Chapter 18 Financial Statements of Sole Proprietorship
TS Grewal Accountancy Class 11 Solution Chapter 19 Adjustments in Preparation of Financial Statements
TS Grewal Accountancy Class 11 Solution Chapter 20 Accounts from Incomplete Records Single Entry System
TS Grewal Accountancy Class 11 Solution Chapter 21 Computers in Accounting
TS Grewal Accountancy Class 11 Solution Chapter 22 Accounting Software Tally