We have provided the question-wise solution to all questions of the Chapter 8 Books of Original Entry – Special Purpose Subsidiary Books – D.K. Goel -(Class 11 – ISC)- Solution
What are Special Purpose Subsidiary Books:
Books in which we record a specific type of transaction is caller subsidiary books because It is too difficult to records all business transactions in the journal in practice. In order to make the quick, efficient and reliable recording of the business transactions, the need for subdivision of the journal arises. Subdivided books are called subsidiary books. these books are also called daybooks.
1. Purchase Book:
Purchase Book is that book in which we record all the business credit transactions related to the purchase of goods only. The type of Purchase Book is shown below:
- Simple
- Columnar
2. Sales Book:
Sales Book is that book in which we record all the business credit transactions related to the sale of goods only. Type of Sales Book is shown below:
- Simple
- Columnar
3. Purchase Return Book/ Returned Outward Book:
Purchase Return Book is the book in which we record the goods returned to the supplier or the vendor. it is also called “Return Outward Book”, “Purchase Return Journal” and “Purchases Returns Day Book”.
4. Sales Return Book/Returned Inward Book:
Sales Return Book is a book in which we record the goods returned by the customers or buyers. It is also called “Return Inward Book”, “Sale Returns Journal” and “Sale Returns Day Book”.
5. Bill Receivable Book:
Bill receivable is an instrument of debt written by the seller of goods and services and accepted by the buyer of goods and services. We have recorded all transactions related to Bills receivable in the bill receivable book.
6. Bill Payable Book:
Bill Payable is an instrument of debt written by the seller of goods and services and accepted by the buyer of goods and services. We have recorded all transactions related to Bills Payable in the bill payable book.
7. Journal Proper:
Journal Proper is original entry books like all subsidiaries Books. All those transactions which can not be recorded in any of the other subsidiary books are recorded in the journal proper.
Chapter 8 Books of Original Entry – Special Purpose Subsidiary Books – D.K. Goel -(Class 11 – ISC)- Solution
Question-wise solution of all Questions of chapter 8 Books of Original Entry – Special Purpose Subsidiary Books – D.K. Goel -(Class 11 – ISC)- Solutions are shown below: –