DK Goel Solutions Class 11 Accountancy Chapter 8 Origin of Transactions Source Documents of Accountancy

Very Short Questions

Question 1. .

Solution 1: The source documents are the information about the transaction based on which account are debited or credited with the transacted amount. A source Document is a written document containing details of the transaction. A source document is of prime importance in accounting because accounting is based on factual financial information that is evidence. The source documents are also known as supporting documents.

Question 2. 

Solution  2: The two sources of documents are.

(i) Receipt

(ii) Invoice & Bills

Question 3.

Solution  3: Invoice is a bill provided by the seller to when he sells goods on the credit basis. The bill consists of buyer’s name, name of the product to be sold, the price, quantity, and the total amount of goods sold.

Question 4. 

Solution  4: A cheque is a written document drawn to bank to pay a decided sum of amount to the person name written on it.

Question 5. 

Solution 5: Example of a voucher is a Debit voucher.

Question 6. 

Solution  6: The compound voucher shows multiple debits on one side and one credit on another side of a transaction and multiple credits on one side and one debit on another side of a transaction.

Question 7. 

Solution  7: The two types of a voucher are:-

(i) Debit voucher

(ii) Credit voucher

Question 8. 

Solution  8: A transfer voucher or a non-cash voucher will be prepared for depreciation charged on machinery.

Value-Based Questions(VBQ)

Question 1. 

Solution  1: The value involved in recording transactions on the basis of source documents is the guarantee of transactions happing and ethics.

Question 2. 

Solution  2: Cash memo is a source document.

Question 3. 

Solution  3: The values are not followed by the shopkeeper are:-

(i) Requirements of low

(ii) Transparency

Question 4. 

Solution  4: The few common source documents are.

Cash Memo – Cash Memo gives when goods and services sales on cash basis. Need to fill these requirements when making of cash memo item name, price, quantity, date, time, etc.

Invoice & Bill – Invoice & Bill gives when goods and services sales on credit basis. Need to fill these requirements when making of invoice name of the buyer, date, price, quantity etc.

Receipt – Receipts are gives when cash or cheque is received. Need to fill these requirements when making of recipient name, date, price, quantity etc.

Debit Note – It is prepared for purchases return.

Credit Note – It is prepared for sales return.

Pay-in-slip – When cash/cheque is deposit in to the bank.

Cheque - A cheque is a written document drawn to bank to pay a decided sum of amount to the person name written on it.