| CLASS-11 ACCOUNTANCY |
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| NCERT 2025-26 Solutions |
1. Introduction of AccountingWHAT IS ACCOUNTING Accounting is a process of identifying the events of financial nature, recording them in journal, classifying in their respective ledgers, summarizing them in Profit and… 2.Theory base accountingAccounting Principal Accounting Principal are the rules adopted by accountants universally while recording accounting transaction. They are the norms or rules which are followed in accounting of various items of… 3.Recording of transactions-ISource Documents:- Source documents are the original records of business transactions. They are important because they prove, firs, that a transaction occurred, and they also serve as evidence of the… 4.Recording of transactions-IIShort Answer Answer:- Transaction are recorded directly from source documents in the Cash book, so there is no need to record transactions in the Journal book. Further, on the basis… 5.Bank reconciliation statementShort Answers Ans. The need to prepare Bank Reconciliation Statement are given below: 2. What is a bank overdraft? Ans. Bank overdraft is a liability to an account holder. When… 6.Trial balance and rectification of errorsShort Answer Solution:- Trial balance is a statement prepared to check the arithmetical accuracy of transactions recorded in the journal, posted into the ledger and balanced in the ledger accounts…. |