Read DK Goel Class 11 Accountancy Solutions for Chapter 8 Origin of Transactions Source Documents of Accountancy 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 8 Origin of Transactions Source Documents of Accountancy 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 8 Origin of Transactions Source Documents of Accountancy DK Goel Class 11 Solutions
Class 11 Accountancy students should read the following DK Goel Solutions for Class 11 Chapter 8 Origin of Transactions Source Documents of Accountancy 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 8 Origin of Transactions Source Documents of Accountancy Class 11 Accountancy
Very Short Questions
Question 1. Define source documents of accountancy.
Solution 1: The source documents are the information about the transaction based on which account are debited or credited with the transacted amount. A source Document is a written document containing details of the transaction. A source document is of prime importance in accounting because accounting is based on factual financial information that is evidence. The source documents are also known as supporting documents.
Question 2. Name two sources of documents.
Solution 2: The two sources of documents are.
(ii) Invoice & Bills
Question 3. What is an invoice?
Solution 3: Invoice is a bill provided by the seller to when he sells goods on the credit basis. The bill consists of buyer’s name, name of the product to be sold, the price, quantity, and the total amount of goods sold.
Question 4. What is a cheque?
Solution 4: A cheque is a written document drawn to bank to pay a decided sum of amount to the person name written on it.
Question 5. Given an example of a voucher.
Solution 5: Example of a voucher is a Debit voucher.
Question 6. What is a compound voucher?
Solution 6: The compound voucher shows multiple debits on one side and one credit on another side of a transaction and multiple credits on one side and one debit on another side of a transaction.
Question 7. Name two types of a voucher.
Solution 7: The two types of a voucher are:-
(i) Debit voucher
(ii) Credit voucher
Question 8. Depreciation charged on machinery, which accounting voucher will be prepared for it?
Solution 8: A transfer voucher or a non-cash voucher will be prepared for depreciation charged on machinery.
Question 1. What is the value involved in recording transactions on the basis of source documents?
Solution 1: The value involved in recording transactions on the basis of source documents is the guarantee of transactions happing and ethics.
Question 2. Is a ‘cash memo’ a source document or an accounting voucher?
Solution 2: Cash memo is a source document.
Question 3. Suruchi bought a mobile for Rs. 20,000. The shopkeeper gives a rough bill instead of giving one for his bill-book. Which values are not followed by the shopkeeper?
Solution 3: The values are not followed by the shopkeeper are:-
(i) Requirements of low
Question 4. Mention few common source documents.
Solution 4: The few common source documents are.
Cash Memo – Cash Memo gives when goods and services sales on cash basis. Need to fill these requirements when making of cash memo item name, price, quantity, date, time, etc.
Invoice & Bill – Invoice & Bill gives when goods and services sales on credit basis. Need to fill these requirements when making of invoice name of the buyer, date, price, quantity etc.
Receipt – Receipts are gives when cash or cheque is received. Need to fill these requirements when making of recipient name, date, price, quantity etc.
Debit Note – It is prepared for purchases return.
Credit Note – It is prepared for sales return.
Pay-in-slip – When cash/cheque is deposit in to the bank.
Cheque - A cheque is a written document drawn to bank to pay a decided sum of amount to the person name written on it.