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11th Class Chapter No 4 - RECORDING OF TRANSACTIONS - 2 in Accounts for CBSE NCERT

A small business may be able to record
all its transactions in one book only, i.e., the journal.
But as the business expands and the number of
transactions becomes large, it may become
cumbersome to jour-nalise each transaction. For
quick, efficient and accurate recording of business
transactions, Journal is sub-divided into special
journals. Many of the business transactions are
repetitive in nature. They can be easily recorded in
special journals, each meant for recording all the
transactions of a similar nature. For example, all
cash transactions may be recorded in one book, all credit
sales transactions in another book and all credit
purchases transactions in yet another book and so on.
These special journals are also called daybooks or
subsidiary books. Transactions that cannot be recorded
in any special journal are recorded in journal called the
Journal Proper. Special journals prove economical and
make division of labour possible in accounting work. In
this chapter we will discuss the following special purpose
• Cash Book
• Purchases Book
• Purchases Return (Return Outwards) Book
• Sales Book
• Sales Return (Return Inwards) Book
• Journal Proper
Posted in 11th on June 12 2020 at 03:08 PM


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