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Recording of Transactions - I — Syllabus

CBSE · Class 11 · Accountancy

What Recording of Transactions - I covers in CBSE Class 11 Accountancy: 4 topics, for the 2026-27 session. Part of the CBSE Class 11 Accountancy syllabus.

170 questions80 flashcards3 formulas & key relations5 concepts

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4 Topics · CBSE Class 11 Accountancy · 2026-27

Topics in Recording of Transactions - I

1

Business Transactions and Source Documents

  • A business transaction is an exchange of economic consideration between parties and has two-fold effects.
  • Every transaction affects at least two accounts.
  • Recording in books of account is done on the basis of vouchers.
2

Accounting Equation

  • Accounting equation signifies that the assets of a business are always equal to the total of its liabilities and capital.
  • The accounting equation is also called the Balance Sheet Equation.
  • All accounts are divided into five categories: Assets, Liabilities, Capital, Expenses/Losses, and Revenues/Gains.
3

Rules of Debit and Credit

  • All accounts are divided into five categories for recording transactions: Assets, Liabilities, Capital, Expenses/Losses, and Revenues/Gains.
  • Increase in asset is debited, and decrease in asset is credited.
  • Increase in expenses/losses is debited, and decrease in expenses/losses is credited.
4

Journal and Journalising

  • The book in which the transaction is recorded for the first time is called journal or book of original entry.
  • The Journal is the book of first or original entry.
  • The Ledger is the book of second entry.

Key Concepts

Central concept: Recording of business transactions through source documents, accounting equation, journal, ledger, and posting

Business transactionsSource documents and vouchersAccounting vouchersAccounting equationRules of debit and creditDouble entry systemJournalLedger

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Frequently Asked Questions

What are the important topics in Recording of Transactions - I for CBSE Class 11 Accountancy?
Key topics in Recording of Transactions - I include Business Transactions and Source Documents, Accounting Equation, Rules of Debit and Credit, Journal and Journalising. Study these first, then practise questions on each for Class 11 exams.
How should I revise Recording of Transactions - I for Class 11 exams?
Learn the core ideas first, then work through the 170 practice questions on Recording of Transactions - I. Revise definitions regularly and use flashcards for quick recall before the exam.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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