TS Grewal Accountancy Class 11 Solution Chapter 7 Origin of Transactions Source Documents and Preparation of Voucher

Read TS Grewal Accountancy Class 11 Solution Chapter 7 Origin of Transactions 2023 2024. Students should study TS Grewal Solutions Class 11 Accountancy available on Studiestoday.com with solved questions and answers. These chapter-wise answers for Class 11 Accountancy have been prepared by expert teachers of Grade 11. These TS Grewal Class 11 Solutions have been designed as per the latest accountancy TS Grewal Book for Class 11 and if practiced thoroughly can help you to score good marks in standard 11 Accounts class tests and examinations.

Class 11 Accounts Chapter 7 Origin of Transactions TS Grewal Solutions

TS Grewal Solutions for Chapter 7 Origin of Transactions Class 11 Accounts have been provided below based on the latest TS Grewal Class 11 book. The answers have been prepared based on the latest 2023 2024 book for the current academic year. TS Grewal Solutions Class 11 will help students to improve their concepts and easily solve accountancy questions for Class 11. Class 11 Grewal solutions should be revised regularly as more practice will help you get a better rank and easily solve more questions.

Chapter 7 Origin of Transactions TS Grewal Class 11 Solutions

Question.1. What is a Source Document?

Answer 1.  The source documents are the information about the transaction based on which account are debited or credited with the transacted amount. A source Document is a written document containing details of the transaction. A source document is of prime importance in accounting because accounting is based on factual financial information that is evidence. The source documents are also known as supporting documents.

 

Question.2. Explain any two Source Documents.

Answer 2.

(a) Cash Memo: Cash Memo is prepared by the seller when goods are sold against cash. It has details of goods sold, quantity, rate of each item and the total amount received, besides the date of transaction and other terms and conditions, if any. It is an evidence for the purchaser for, goods purchased against cash, and for the enterprise, it is an evidence of sales for cash.

(b) Cheque: A cheque is a document in writing, drawn upon the bank with which the account is held and is payable on demand. The bank supplies the cheque forms. The name of the party to whom payment is to be made is written after the words ‘Pay to’. Then the amount is written- both in words and figures. A cheque must be dated and signed by the drawer. Each cheque has a counterfoil. The same details are entered on the counterfoil which remains with the account holder for future reference and is the source voucher recording the transaction in the books of account.

 

Question.3 What is a Voucher? Prepare an imaginary Specimen of Voucher.

Answer 3.   A voucher is a document evidencing a business transaction. It flows from the above definition that when a transaction is entered into, evidence to that effect is also established. Such evidences are Source Documents. Examples of Source Documents are Cash Memo, Invoice or Bill, Receipt, Cheque, Debit Notes and Credit Notes. On the basis of Source Documents, a voucher detailing the accounts that are debited and credited is prepared.

The Specimen of a Credit Voucher is given below:

 TS Grewal Accountancy Class 11 Solution Chapter 7 Origin of Transactions (2019-2020)  

 

Question.4. Give an example of a ‘Voucher’.

Answer 4.  Given an example for purchased goods worth Rs. 7,000 by Shreehari Traders for cash on 06-06-2019 for a Voucher:

The Specimen of a Credit Voucher is given below:

TS Grewal Accountancy Class 11 Solution Chapter 7 Origin of Transactions (2019-2020)- 

 

Question.5. What are Accounting Vouchers?

Answer 5. Accounting Voucher is a written document containing an analysis of business transaction for accounting and reporting purposes, prepared by the accountant on the basis of supporting voucher and signed by another authorised person. Before recording in the books of account, these source vouchers are analysed to determine which account or accounts are to be debited or credited. The decision is recorded on a document termed ‘Accounting Voucher’. 

 

Question.6. Differentiate between Source Documents and Vouchers.

Answer 6:

1.) Source Documents:- Source Documents are documents which come into existence when a transaction is entered into.

Features of Source Voucher:

1. It is a written document.

2. It contains complete details of the transaction.

3. It is a proof of a transaction having taken place.

4. It is generally for a business transaction.

5. It is signed by the maker.

 

2.) Accounting Vouchers:- An Accountant has with him source or supporting vouchers for cash payments, cash receipts, invoices for credit purchases and sales. Yet, before recording in the books of account, these source vouchers are analysed to determine which account or accounts are to be debited and credited. The decision is recoded on a document termed ‘Accounting Vouchers’.

Features of Source Voucher:

1. It is written document.

2. It is prepared on the basis of evidence of the transaction, i.e., Source Document.

3. It is an analysis of a transaction.

4. It is prepared and signed usually by an Accountant and countersigned by the authorised signatory.

5. In the case of cash/bank voucher, it is receipt.

 

Question.7.  What are the types of Accounting Vouchers?

or

Name the two type of voucher?

Answer7.

The following are the types of Accounting Vouchers:

(a) Cash Vouchers

(b) Non-Cash Vouchers or Transfer Vouchers.

 

Practical Problems :--> 

 

Question 1: The following transactions took place in M/s. Goodluck Computers. Prepare the Accounting Vouchers:

TS_G

Transactions marked with * are subject to levy of CGST and SGST @ 6% each.

Answer 1:

 

TS_G3

TS_G4

TS_G5

TS_G6

TS_G7

TS_G8

 

Question 2:   Prepare the Accounting Vouchers for the following transactions:

 TS_G9

Transactions marked with * are subject to levy of CGST and SGST @ 6% each. 

Answer 2:

TS_G10

TS_G11

TS_G12

TS_G13

TS_G14

TS_G15

TS_G16

 

Question 3:  Prepare the Vouchers to be recorded in the books of M/s. Computer Aids:

 T_S

Transactions marked with * are subject to levy of CGST and SGST @ 6% each.

Answer 3:

 T_S1

T_S2

T_S3

 

Question 4:  Prepare the Vouchers to be recorded in the books of M/s. Elegant Furniture’s, New Delhi:

T_S5 

Transactions marked with * are subject to levy of CGST and SGST @ 6% each.  

Answer 4:

T_S6

T_S7

T_S8

 T_S9

 

Question 5:  Prepare the Vouchers:
 
T_S10

Transactions marked with * are subject to levy of CGST and SGST @ 6% each.

Answer 5:

T_S11
 

T_S12

T_S13

T_S14

 

Question 6:  Prepare the Transfer Vouchers from the books of Shiva Agencies, Faridabad, Haryana from the Source Vouchers: 
 
T_S15

Solution 6:

T_S16

T_S17

T_S18

Point of Knowledge:-

  • Depreciation =  Value of Assets × % of Depreciation

                       = Rs.  2,00,000 × 10%

                       = Rs.  20,000

DK Goel Solutions Class 11 Accountancy Chapter 1 Meaning and Objective of Accounting
DK Goel Solutions Class 11 Accountancy Chapter 2 Basic Accounting Terms
DK Goel Solutions Class 11 Accountancy Chapter 3 Accounting Principles
DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting
DK Goel Solutions Class 11 Accountancy Chapter 5 Accounting Standards and International Financial Reporting Standards
DK Goel Solutions Class 11 Accountancy Chapter 6 Accounting Equations
DK Goel Solutions Class 11 Accountancy Chapter 7 Double Entry System
DK Goel Solutions Class 11 Accountancy Chapter 8 Origin of Transactions Source Documents of Accountancy
DK Goel Solutions Class 11 Accountancy Chapter 9 Books of Original Entry Journal
DK Goel Solutions Class 11 Accountancy Chapter 10 Accounting for Goods and Service Tax
DK Goel Solutions Class 11 Accountancy Chapter 11 Books of Original Entry Cash Book
DK Goel Solutions Class 11 Accountancy Chapter 12 Books of Original Entry Special Purpose Subsidiary Books
DK Goel Solutions Class 11 Accountancy Chapter 13 Ledger
DK Goel Solutions Class 11 Accountancy Chapter 14 Trial Balance and Errors
DK Goel Solutions Class 11 Accountancy Chapter 15 Bank Reconciliation Statement
DK Goel Solutions Class 11 Accountancy Chapter 16 Depreciation
DK Goel Solutions Class 11 Accountancy Chapter 17 Provision and Reserves
DK Goel Solutions Class 11 Accountancy Chapter 18 Bills of Exchange
DK Goel Solutions Class 11 Accountancy Chapter 19 Rectification of Errors
DK Goel Solutions Class 11 Accountancy Chapter 20 Capital and Revenue
DK Goel Solutions Class 11 Accountancy Chapter 21 Financial Statement
DK Goel Solutions Class 11 Accountancy Chapter 22 Financial Statements With Adjustments
DK Goel Solutions Class 11 Accountancy Chapter 23 Accounts from Incomplete Records
DK Goel Solutions Class 11 Accountancy Chapter 24 Introduction to Computer
DK Goel Solutions Class 11 Accountancy Chapter 25 Introduction of Accounting Information System
DK Goel Solutions Class 11 Accountancy Chapter 26 Computerised Accounting System
DK Goel Solutions Class 11 Accountancy Chapter 27 Accounting Software Package Tally
TS Grewal Class 11 Solutions: Double Entry Book Keeping Financial Accounting
TS Grewal Accountancy Class 11 Solution Chapter 1 Introduction of Accounting
TS Grewal Accountancy Class 11 Solution Chapter 2 Basic Accounting Terms
TS Grewal Accountancy Class 11 Solution Chapter 3 Accounting Standards and IFRS
TS Grewal Accountancy Class 11 Solution Chapter 4 Bases of Accounting
TS Grewal Accountancy Class 11 Solution Chapter 5 Accounting Equation
TS Grewal Accountancy Class 11 Solution Chapter 6 Accounting Procedures Rules of Debit and Credit
TS Grewal Accountancy Class 11 Solution Chapter 7 Origin of Transactions Source Documents and Preparation of Voucher
TS Grewal Accountancy Class 11 Solution Chapter 8 Journal
TS Grewal Accountancy Class 11 Solution Chapter 9 Ledger
TS Grewal Accountancy Class 11 Solution Chapter 10 Special Purpose Books I Cash Book
TS Grewal Accountancy Class 11 Solution Chapter 11 Special Purpose Books II Other Book
TS Grewal Accountancy Class 11 Solution Chapter 12 Accounting of Goods and Services Tax (GST)
TS Grewal Accountancy Class 11 Solution Chapter 12 Bank Reconciliation Statement
TS Grewal Accountancy Class 11 Solution Chapter 13 Trial Balance
TS Grewal Accountancy Class 11 Solution Chapter 14 Depreciation
TS Grewal Accountancy Class 11 Solution Chapter 15 Provisions and Reserves
TS Grewal Accountancy Class 11 Solution Chapter 16 Accounting for Bills of Exchange
TS Grewal Accountancy Class 11 Solution Chapter 17 Rectification of Errors
TS Grewal Accountancy Class 11 Solution Chapter 18 Financial Statements of Sole Proprietorship
TS Grewal Accountancy Class 11 Solution Chapter 19 Adjustments in Preparation of Financial Statements
TS Grewal Accountancy Class 11 Solution Chapter 20 Accounts from Incomplete Records Single Entry System
TS Grewal Accountancy Class 11 Solution Chapter 21 Computers in Accounting
TS Grewal Accountancy Class 11 Solution Chapter 22 Accounting Software Tally