Q14 what is compound journal entry ans it is a

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Q.14. What is Compound Journal Entry ? Ans. It is a journal entry in which one or more accounts are debited and or credit. Q.15. Define Opening Entry. Ans. It is the first entry passed in the journal book in corporting the close balance of previous year. Q.16. Define Ledger Account.
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44 Address: Plot No 420, Behind Shopprix Mall, Vaishali Sector 5, Ghaziabad 201010 M: 9999907099, 9818932244 O: 0120-4130999 Website: , Ans. It is a book containing ledger account. Q.17. What is Balancing of Accounts ? Ans. It means totalling the two sides of the accounts and determining the difference. Difference between the totals of two sides is written in the side with shorter total. Q.18. Define Trial Balance. Ans. It is a statement in which the balance is in the accounts are written. The total of amount in the two columns should be same and is a proof of arithmetical accuracy transactions recorded in the books of accounts. Q.19. What is Journalising ? Ans. Journalising is a process of recording a transaction in a Journal. Q.20. Name the category of accounts that are balanced. Ans. Real and Personal Accounts are balanced. Q.21. Name the category of account that is not balanced. Ans. Nominal Accounts are not balanced. They are totalled and transferred to Profit and Loss Account at the end of the accounting year.
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45 Address: Plot No 420, Behind Shopprix Mall, Vaishali Sector 5, Ghaziabad 201010 M: 9999907099, 9818932244 O: 0120-4130999 Website: , ACCOUNTANCY CLASS XI CHAPTER-9 SPECIAL PURPOSE BOOKS I-CASH BOOK Q.1. What is Special Purpose Books or Subsidiary Books ? Ans. The sub-division for the Journal into various books recording transactions of similar nature are called subsidiary books. Q.2. Define Cash Book. Ans. Cash Book is a Special Purpose Subsidiary Book or Journal in which cash receipts and cash payments are recorded. Q.3. What are the Kinds of Cash Book ? Ans. The kinds of cash book are: (i) Simple Cash Book : It is a cash book in which only cash transactions are recorded. It has only one column on each side of the cash book. (ii) Double-column or Two-column Cash Book : It is a cash book which has two columns on each side of the cash book to record cash receipts and payments besides cash discount allowed and received. (iii) Triple-column or three-column Cash Book : It is a cash book which has three columns on each side of the cash book. One column to record cash transactions, one column to record bank transactions and one column to record cash discount allowed and received. (iv) Pretty Cash Book : It is a cash book in which payment of small amount is recorded. Q.4. What is Imprest System of Petty Cash ? Ans. It is a system whereby an estimate of expenditure is made and the estimated amount is given to the Petty Cashier. Thereafter he submits the statement of expenses at the end of the designated period. Which is reimbursed to him to make the petty cash equal to the original petty cash amount.
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