Recording of Transactions - II
CBSE · Class 11 · Accountancy
Summary of Recording of Transactions - II for CBSE Class 11 Accountancy. Key concepts, important points, and chapter overview.
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Overview
Special purpose books are used to record repetitive business transactions quickly, accurately, and in an organised way. These books are also called daybooks or subsidiary books. Cash transactions are recorded in the cash book, credit purchases of goods in the purchases journal, credit sales of goods
Key Concepts
Special journals are books meant
Special journals are books meant for transactions of a similar nature. They are also called daybooks or subsidiary books. Common special journals incl
The cash book records all transactions
The cash book records all transactions relating to cash receipts and cash payments. It starts with cash or bank balances at the beginning of the perio
A double column cash book has
A double column cash book has separate columns for cash and bank on both sides. Cash deposited into bank and cash withdrawn from bank are recorded as
An overdraft occurs when cash withdrawn
An overdraft occurs when cash withdrawn from the bank exceeds the amount deposited, resulting in a credit balance in the bank column of the cash book.
The petty cash book records small
The petty cash book records small and repetitive payments such as conveyance, cartage, postage, telegrams, and similar items. It is maintained by the
Learning Objectives
- Understand the need for special journals and their use in accounting
- Record cash and bank transactions in the cash book
- Record petty expenses through the petty cash book
- Classify transactions correctly into purchases, sales, and return books
- Prepare and use debit notes and credit notes correctly
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Sources & Official References
- NCERT Official — ncert.nic.in
- CBSE Academic — cbseacademic.nic.in
- CBSE Official — cbse.gov.in
- National Education Policy 2020 — education.gov.in
Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.
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