Ch 3Books of Prime Entry — Class 11 Accountancy, concept-first.

No transaction should ever be recorded in the books purely on someone's say-so — every entry must be backed by a source document (voucher): a cash memo for a cash sale, a purchase invoice for goods bo…

Before an entry can be journalised, every account it touches must first be classified into one of three types, because each type follows its own rule for debit and credit.

An alternative, equally valid way to decide debit and credit is to classify every account under one of the five elements of the Accounting Equation, and apply a single consistent rule to each:

To journalise a transaction correctly, follow these steps in order:

Sometimes a single transaction affects more than two accounts at the same time — for instance, a payment that is settled partly in cash and partly through a discount, or a single voucher paying two di…

Under India's Goods and Services Tax (GST) regime, most purchases and sales of goods/services carry GST, which must be recorded separately from the value of the goods themselves, because GST paid on p…

Sample papers and previous-year board questions for this subject.