Plus One Accountancy Notes Chapter 3 Recording of Transactions – I
Chapter 3: Recording of Transactions – I Chapter 3: Recording of Transactions – I – Important Topics: Business Transactions and Source Documents Accounting Vouchers – Debit, Credit, Transaction, Complex Vouchers Accounting Equation – Assets = Liabilities + Capital Rules of Debit and Credit (Modern Approach – 5 categories) Books of Original Entry – Journal (Simple & Compound Entries) Special Journals / Subsidiary Books Ledger – Format, Posting, Balancing Distinction between Journal and Ledger Accounts under GST – Input/Output CGST, SGST, IGST Previous Year Exam Questions with Answers 1. Business Transactions and Source Documents Simple Explanation: A business transaction is an exchange of economic consideration between two parties. Every transaction has t...