In this article, we have provided the Question wise solution to all Questions of Chapter 5 Books of Original Entry – Journal – D K Goel -(Class 11 – ICSE) But first of all, we have explained the meaning of Journal: –
What is the Journal?
Journal in Accounting is the process of analyzing and recording business transactions in chronological (day to day) order. In this book, all transactions are recorded and it is known as Journal Daybook. It is also called the Book of Prime or Original Entry book. The journal entries are the foundation of the accounting system and it is also the first step of the accounting cycle.
Definition of Journal: –
“The process of recording a transaction in a journal is called journalizing the transactions.”
—Meigs and Meigs and Johnson
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Chapter No 5 – Books of Original Entry – Journal – D K Goel -(Class 11 – ICSE) – Solution
Question wise solution of all Questions of Chapter 5 Books of Original Entry – Journal – D K Goel -(Class 11 – ICSE) – Solutions are shown below: –