Worksheets › Class 11 › Recording of Transactions – I
Class 11 Recording of Transactions – I worksheet
CBSE Accountancy. Source documents, the accounting equation, rules of debit and credit, journal entries, and posting to the ledger and balancing. Every sheet has 20 questions in three sections and an answer key, and the numbers change every time.
Sample questions
Real questions from this chapter, as the app sets them. Tap Answer to see the answer and working.
Section A · multiple choice
- 1.
An increase in an asset is recorded on the:
- either side
- neither side
- credit side
- debit side
Answer
(d) debit side
- 2.
Paid salaries in cash ₹23,000. Which journal entry records this transaction?
- Salaries A/c Dr.; To Cash A/c
- Cash A/c Dr.; To Salaries A/c
- Salaries A/c Dr.; To Capital A/c
- Drawings A/c Dr.; To Cash A/c
Answer
(a) Salaries A/c Dr.; To Cash A/c
Salaries A/c Dr. ₹23,000 To Cash A/c ₹23,000 (Being salaries paid)
- 3.
Received commission in cash ₹5,500. What is its effect on the accounting equation?
- Assets −₹5,500, Liabilities no change, Capital −₹5,500
- Assets +₹5,500, Liabilities +₹5,500, Capital no change
- Assets no change, Liabilities no change, Capital no change
- Assets +₹5,500, Liabilities no change, Capital +₹5,500
Answer
(d) Assets +₹5,500, Liabilities no change, Capital +₹5,500
A = L + C after the change
Section B · short answer
- 4.
What is a source document? Give two examples.
Answer
A written document that gives evidence of a transaction: cash memo, invoice, receipt, pay-in-slip or cheque.
- 5.
Write the journal entry with narration: Received commission in cash ₹4,500.
Answer
Cash A/c Dr. ₹4,500 To Commission Received A/c ₹4,500 (Being commission received)
Debit the account that receives or increases in assets/expenses; credit the giver or the source
Section C · long answer
- 6.
Explain the rules of debit and credit for all five kinds of accounts.
Answer
Assets and expenses increase with a debit and decrease with a credit; liabilities, capital and revenues increase with a credit and decrease with a debit.
Fresh sheets for your child
In the app, every Recording of Transactions – I sheet is new: the app remembers the questions your child has already had and leaves them out. Print the sheet as a PDF, or use notebook mode and write the answers in a notebook.
Coming soon for Android and iPhone.