Class 11 Accountancy - HARYANA
Recording of Transactions - II
The chapter 'Recording of Transactions - II' in Class 11 Accountancy for Haryana (BSEH) students focuses on the maintenance of various subsidiary books other than the Cash Book. It covers the recording of credit transactions through Purchases Book, Sales Book, Purchases Return Book, Sales Return Book, and Bills Receivable/Payable Books, alongside the preparation of the Journal Proper. Understanding this chapter is crucial for students as it forms the backbone of commercial record-keeping by dividing the journal into specialized books to handle large volumes of transactions efficiently, carrying significant weight in the BSEH board examinations.
Start Learning FreeKey Concepts
Purchases Book
A subsidiary book used exclusively for recording credit purchases of goods meant for resale.
Sales Book
A specialized book maintained to record all credit sales of merchandise by the business.
Purchases Return Book
A book used to record goods returned to suppliers due to defects or excess quantity, also known as Return Outward Book.
Sales Return Book
A book used to record goods returned by customers, also referred to as Return Inward Book.
Journal Proper
A residual journal used for recording transactions that cannot be accommodated in any other specific subsidiary books.
Important Formulas
Board Exam Info
In the Haryana (BSEH) Class 11 Accountancy board examination, this chapter typically carries around 6 to 8 marks. Questions frequently appear as practical numerical problems involving the preparation of various subsidiary books from a given set of transactions, along with short conceptual questions regarding trade discount versus cash discount.
Frequently Asked Questions
Are cash purchases recorded in the Purchases Book?
No, only credit purchases of goods dealt in are recorded in the Purchases Book. Cash purchases are recorded directly in the Cash Book.
What is the difference between Trade Discount and Cash Discount in subsidiary books?
Trade discount is deducted from the invoice/list price directly in the subsidiary books, whereas cash discount is not recorded in subsidiary books but is entered in the Cash Book upon settlement.
Is the purchase of a fixed asset on credit recorded in the Purchases Book?
No, purchases of fixed assets on credit are recorded in the Journal Proper, not the Purchases Book, because the Purchases Book is strictly for goods meant for resale.
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