DK Goel Solutions Class 11 Accountancy Chapter 9 Books of Original Entry Journal (Updated For 2023-24)

DK Goel Solutions Class 11 Accountancy Chapter 9 Books of Original Entry Journal: Class 11 Accountancy is made easier, all thanks to the DK Goel Solutions Class 11 Accountancy Chapter 9. The solutions of DK Goel Solutions Class 11 Accountancy Chapter 9 Books of Original Entry Journal and accurate and credible because they are designed by subject matter experts.

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Very Short Questions for DK Goel Solutions Class 11 Chapter 9

Question 1: What is a journal?

Solution 1: Journal is a main entry book or an original entry book in which the event is first entered in a linear order or sequence. As all transactions are originally documented in it, the document is called the Book of Original Entry.

Question 2: Why is the journal called a book of original entries?

Solution 2: All the transactions are recorded firstly in the journal so it is called the book of original entries.

Question 3: What is journalizing?

Solution 3: The process by which the transaction is reported in the journal is called journalizing.

Question 4: Give one advantage of the journal.

Solution 4: The benefit of a report is the compilation of financial data in chronological order.

Question 5: Give one limitation of a journal.

Solution 5: The journal’s only drawback is that it is difficult to document all the heavy and cumbersome transactions.

Question 6: What is a narrative?

Solution 6: Every transaction has a short summary after each entry is known as the narrative.

Question 7: What is ledger folio or L.F.?

Solution 7: Ledger Folio or L.F. It’s the number of the page where the journal poses. In the document, the page number is registered.

Question 8: What is a compound journal entry?

Solution 8: When, on the same day, two or more purchases belonging to one individual account take place. In this case, only one entry is passed, instead of logging different entries. This form of journal entry is known as the journal entry compound.

Question 9: What is an opening entry?

Solution 9: The first entry in the Journal is moved to the preceding year’s closing balances ledger. The opening entry is called it. The balance sheet prepared at the end of the year displays each asset and liability’s closing balances and forms the basis for this opening entry.

Question 10: What entry is passed for withdrawing goods by the proprietor for personal use?

Solution 10: Below is the Journal of withdrawal of goods by the proprietor

	Drawings A/c	Dr.
	To Purchases A/c
	(Being goods withdrawing by the owner)

Question 11: Which account should be debited, if wages are paid for the installation of a machine?

Solution 11: The machine account is debited if wages are paid for the installation of a machine.

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