Class 11 Accountancy - RAJASTHAN
Recording of Transactions - II
The chapter 'Recording of Transactions - II' for Class 11 Accountancy under the Rajasthan Board (RBSE) focuses on the preparation of various subsidiary books and the cash book. Building upon journal entries, this chapter explains how businesses handle large volumes of repetitive transactions efficiently by sub-dividing the journal. Students will learn to record transactions in Purchases Book, Sales Book, Purchases Return Book, Sales Return Book, and different types of Cash Books including single column, double column, and petty cash book. Mastering these books is essential for accurate ledger posting and forms a critical foundation for final accounts.
Start Learning FreeKey Concepts
Subsidiary Books
Special journals used to record repetitive transactions of similar nature, such as credit purchases and credit sales, directly from source documents.
Cash Book
A principal book of original entry that records all cash receipts and cash payments, serving simultaneously as a cash account and a journal.
Purchase and Sales Books
Subsidiary books specifically maintained to record only credit purchases of goods and credit sales of goods respectively, excluding cash transactions.
Imprest System of Petty Cash Book
A system where a fixed amount of cash is given to the petty cashier at the beginning of a period to meet small expenses, which is later reimbursed based on actual expenses incurred.
Trade Discount vs Cash Discount
Trade discount is a rebate allowed by the seller on the printed list price at the time of purchase and is not recorded in the books, whereas cash discount is allowed for prompt payment and is explicitly recorded.
Important Formulas
Board Exam Info
In the Rajasthan Board (RBSE) Class 11 Accountancy examinations, this chapter carries significant weight, typically around 8 to 12 marks. Students frequently face practical numerical problems requiring the preparation of a Triple Column Cash Book or specialized subsidiary books along with ledger postings.
Frequently Asked Questions
Are cash transactions recorded in the Purchases or Sales Book?
No, Purchases and Sales Books record only credit transactions relating to goods dealt in by the business. Cash purchases and cash sales are recorded exclusively in the Cash Book.
Where are trade discounts shown in the subsidiary books?
Trade discounts are deducted directly from the list price in the respective subsidiary book, and only the net amount is entered in the final column. They are never recorded in the ledger accounts.
What is a Contra Entry and how is it marked in a Cash Book?
A contra entry occurs when a transaction affects both cash and bank accounts simultaneously, such as cash deposited into the bank or cash withdrawn from the bank for office use. It is marked with the letter 'C' in the Ledger Folio (L.F.) column.
Learn Recording of Transactions - II with Your AI Tutor
10 different ways to study this chapter. Free for 3 chapters per day.
Lecture
Key Points
Interactive
Quiz
Flashcards