Examozhi Examozhi
Ask AI →
generic · CBSE Class 11 English medium · ACCOUNTANCY · Page 8question

Recording of Transactions-I

Chapter 3: Recording of Transactions-I · ACCOUNTANCY · EN medium

From your actual textbook ✓

What does your textbook say about Recording of Transactions-I?

The summary of effects of transactions on accounting equation is in the following analysis table: (Figures in rupees) Transaction Bank Goods Furniture Plant and Total Liabilities Total No. Debtors (Stock) Machinery ....... . ( , , ) , , ....... ....... ....... Post Trans. , , Equation . Post Trans. , , , , ,, Equation . ( , ) , , , , , , , , Post Trans. , , , , , , , , , , , Equation . , , , , Post Trans. , , , , , , , , , , , , Equation . , ( , ) Final , , , , , , , , , , , , , , Equation enter amount on the left side of an account is to debit the account. To enter amount on the right side is to credit the account. Account Title (Left Side) (Right Side) Fig. .

📖 Accounts 3 (1) · Page 8

Read from the source

Complete lesson

The summary of effects of transactions on accounting equation is in the following analysis table: (Figures in rupees) Transaction Bank Goods Furniture Plant and Total Liabilities Total No. Debtors (Stock) Machinery ....... . ( , , ) , , .......

....... ....... Post Trans. , , Equation .

Post Trans. , , , , ,, Equation . ( , ) , , , , , , , , Post Trans. , , , , , , , , , , , Equation .

, , , , Post Trans. , , , , , , , , , , , , Equation . , ( , ) Final , , , , , , , , , , , , , , Equation enter amount on the left side of an account is to debit the account. To enter amount on the right side is to credit the account.

Account Title (Left Side) (Right Side) Fig. . : Showing T-account All accounts are divided into five categories for the purposes of recording the transactions: (a) Asset (b) Liability (c) Capital (d) Expenses/Losses, and (e) Revenues/Gains. Two fundamental rules are followed to record the changes in these accounts: For recording changes in Assets/Expenses (Losses):

Related topics

L EARNING O BJECTIVES→n chapter 1 and 2, while explaining the→example of a transaction , which involves reciprocal→3.1.1 Preparation of Accounting Vouchers→Compound voucher may be: (a) Debit Voucher or (b) Credit Voucher ; the specimen→fonts of printing are used. Some of the specimen of the accounting vouchers→

Want this shaped for your exam marks?

Get an AI answer grounded in your actual textbook — with the exact page reference.

Ask AI about this topic →