HSC Commerce: Marketing and Salesmanship 11th Standard - Maharashtra State Board Question Bank Solutions for Book Keeping and Accountancy

Correct and rewrite the following statement:

When a cheque is deposited into Bank it is credited to Cashbook.

Answer in One Sentence:

What is Journal?

Answer in One Sentence:
What is Narration?

Answer in One Sentence:
Which account is debited, when rent is paid by debit card?

Answer in One Sentence:
Which discount is not recorded in the books of account?

Answer in One Sentence:
In which order monthly transactions are recorded in a journal?

Answer in One Sentence:
Which account is credited, when goods are sold on credit?

Give one word/term or phrase for the following statement:
A book of prime entry.

Give one word/term or phrase for the following statement:
The process of recording transactions in the Journal.

Give one word/term or phrase for the following statement:
The French word from which the word Journal is derived.

Give one word/term or phrase for the following statement:
Concession given for immediate payment.

Give one word/term or phrase for the following statement:
Entry in which more than one accounts are to debited or credited.

Give one word/term or phrase for the following statement:
Anything taken by proprietor from business for his private use.

State whether the following statement is True or False with reasons.
Journal is a book of prime entry.

State whether the following statement is True or False with reasons.
Trade discount is recorded in the books of accounts.

State whether the following statement is True or False with reasons.
Drawings made by the proprietor increases his capital

State whether the following statement is True or False with reasons.
GST paid on purchase of goods Input tax A/c should be debited.

Correct the following statement and rewrite the statement:
Journal is a book of Secondary entry.

Give word/term or phrase for the following statement:

Subsidiary book in which return of goods sold on credit is recorded.

Journalise the following transactions in the books of Gajanan

2019 May

3 Purchased goods for ₹ 90,000 and amounts paid by Bank directly.

7 Sold goods to Satish on credit ₹ 30,000.

9 Paid for Postage ₹ 10,000.

12 Paid for Wages ₹ 15,000.

15 Received cheque of ₹ 30,000 from Satish.

21 Received Dividend ₹ 5000.

25 Purchased Laptop of ₹ 40,000 and paid by cheque.

28 Deposited cash ₹ 10,000 into State Bank of India.

31 Purchased goods for ₹ 40,000 and paid by RTGS