![]() 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. Solution 9: The first entry in the Journal is moved to the preceding year’s closing balances ledger. This form of journal entry is known as the journal entry compound. In this case, only one entry is passed, instead of logging different entries. Solution 8: When, on the same day, two or more purchases belonging to one individual account take place. Question 8: What is compound journal entry? In the document, the page number is registered. It’s the number of the page where the journal poses. Question 7: What is ledger folio or L.F.? Solution 6: Every transaction has a short summary after each entry is known as the narrative. Solution 5: The journal’s only drawback is that it is difficult to document all the heavy and cumbersome transactions. Question 5: Give one limitation of a journal. Solution 4: The benefit of a report is the compilation of financial data in chronological order. Question 4: Give one advantage of journal. Solution 3: The process by which the transaction is reported in the journal is called journalising. Solution 2: All the transactions are recorded firstly in the journal so it is called book of original entry. Question 2: Why is the journal called a book of original entry? As all transactions are originally documented in it, the document is called the Book of Original Entry. 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. Very Short Questions for DK Goel Solutions Class 11 Chapter 9 Students can refer below for solutions for all questions given in your DK Goel Accountancy Textbook for Class 11 in Chapter 9 This chapter in DK Goel Accountancy Class 11 highlights a crystal clear picture instilling the knowledge about journal entries within the students.ĭK Goel Solutions Class 11 Chapter 9 also includes a lot of good quality questions which are very well designed and can be very helpful to understand the concepts for Class 11 students of Accountancy.ĭK Goel Solutions Class 11 Chapter 9 solutions are free and will help you to prepare for Class 11 Accountancy Books of Original Entry Journal DK Goel Class 11 Accountancy Solutions These answers and solutions to questions given in chapter have been prepared based on the latest Class 11 DK Goel Accountancy book issued for current academic year. Read below DK Goel Solutions Class 11 Chapter 9 Books of Original Entry Journal. ![]()
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