3.

Recording of Transactions

Business Transactions and

Source Document
Introduction
The objective of accounting is to record the transactions in the books of account.
In this regard we will know that only transactions which are related to business are
recorded in various books of account. The transactions which are recorded in the books
of account are validated by examining written and adequately source documents and
voucher. A general principle in this regard is acceptable in the accounting process that
every source document or voucher should have a transactions and every transaction
should have a source document and voucher. In this chapter, we are going to discuss
about the source document and vouchers related to accounting transactions.
1 1 ,;J•i•, II -. ,:,: :

Business Transa~tions.
' '

Business transactions are an economic event in which mainly goods or services

are exchanged between two or more than two parties. These transactions should be
capable of being measured in monetary terms so that they may be recorded to meet on
the objectives of accounting. These business transactions can be related to five different
accounts viz.
(i) Assets
(ii) Liabilities
(iii) Capital
(iv) Expenses
(v) Revenue.
The financial position of the business can be determined when the business
transactions are recorded in these accounts and are analysed and compared. The business
transaction can be of following nature :
(i) Sale of machine for cash or credit
(ii) Payment of salaries to employees
(iii) Loan from financial institutions
(iv) Payment of rent of business premises
(v) Purchase of any asset in cash or credit
(vi) Introduction of capital by owner in business.
• 58 ~ Shivalal Accountancy : Class XI

Characteristic s of Business Transactions

Aay business event to be classified as business transactions should have the
following characteristics :
(1) Monetary value : Business transactions should have financial or monetary
value and should have its affect the financial position which should lead to change in
assets.
(2) Two parties : Any transactions to be called as business transaction should at
least have two or more than two parties.
(3) Sponsored by organisation : These transactions should be related and
conducted by the owner of the organisation and should not be related to meet their
persona] needs.
(4) Source document/voucher : Each transaction should be supported with
voucher as well documented evidence. The document which verifies the evidence of
transactions is called as source document or voucher.
Types of Business Transaction's ·,
Business transactions can be of following types :
(1) Cash transactions : These transactions are of general nature in which the
organisation make use of cash for dealing with the transactions. Either the cash may
received or cash payment will be made through the transactions. One aspect of the
transactions is related to cash.
(2) Credit transactions : These are transactions in which neither of the two
aspect of transactions are related to cash. These transactions are of credit nature and
cash receipt or payment will take place in near future.
(3) Non-cash transactions : These are transactions in which neither the cash will
be involved in present or in future, however such transactions will lead to decrease in
assets or bring about a change in financial position.
For example : Transaction for depreciation on assets or transactions of return of
goods or assets.
(4) Internal transactions : These are transactions in which no external or third
parties are involved. These are transactions which takes place within the organisation
for example, issue of material to production department for production.
(5) External transactions : These are transactions in which one of the parties of
transactions is external to the organisation or is a third party. These transactions may be
related to exchange of goods or services or related to receipt or payment.

Source Documents
In the books of account, various transactions of the business are recorded. These
tran~actions may_ be related to pur~hases and sales of goods, assets, cash payments &
receipts and vanous other transactions. Recording these transactions in the books of
account require a written, proper and legal1y accepted document. The written document
on which these transactions are based and known as 'Source Document' or •Main
Vouchers'.
In accounting, there is an assumption that each transaction should be based on
proper and valid written document and for each document or voucher there should t,e
an accounting entry. In reference to accounting source document are physical documents
on which transactions are based upon. Receipts of payments, bill, cash memo, invoice,
counter foils of various slips of bank, deed, debit and credit note etc., are treated as
 Business Transactions and Source Document
source _document or main voucher. On
the basis of these source documents the
accurac~, authenticity and reliability of the
transactions can be verified. ♦ After examining the vouchers and
th
~t e end of the financial year when being fully satisfied about the
the auditor verifies the financial statements authenticity of the vouchers, the
and certifies the correctness of business auditor verifies the 'True & Fair'
view of the accounting records.
transactions he relies for such decision
Hence, it can be said that vouchers
on these source document or the source
or source documents are a written
document generally provides the following
evidence on the basis of which
informations.
accounting records are made in
(i) Description of goods and the books of account. Source
services related to the transactions. documents are a legal document
(ii) Date of transaction. which are accepted as an evidence
(iii) Related parties of transactions. in court.
(iv) Amount of transactions.
(v) Nature of transactions whether cash or credit.
(vi) Terms and condition of transactions etc.

Important Source Documents/Vouchers

1. Cash Memo
When any goods or articles are purchased
or sold for cash then the receipt which is issued
for verifying the receipt of payment is known as
Source Document or Voucher cash memo. Cash memo provides information
1. Cash Memo
and details of goods purchased, quantity, rate,
date and amount paid etc. On the basis of cash
2. Invoice
memo entries are made in cash book. This
3. Receipt
document is prepared by the seller of goods.
4. Debit Note The original copy of cash memo is handed over
5. Credit Note to the purchaser and the carbon copy is kept
6. Deposit/Pay-in-Sliµ with the vendor.
7. Cheque
8. Challan
z. Invoice
9. Orders When goods are purchased or sold on
credit then invoice is prepared for verifying the
sale. In this document the name of purchaser, date, detail of goods, quantity, rate and
detail of total sales is mentioned. It is prepared by the seller whose original copy is
handed over to the purchaser.
3. Receipt
When a trader receives cash or ♦ For cash purchase/sale cash memo
cheque against payment, then he issues a is prepared and for credit purchase/
receipt for it which contains informations sale invoice/bills are prepared.
of date, amount, name and address of the
customer, who has made the payment. Its original copy is handed over to the customer
and the carbon copy is kept by the issuer for making its own accounting records.
 60 Shlvalal Accountancy : Class XI

4. Debit Note
When a purchaser returns some goods which were purchased earlier, to the seller
or supplier of those goods then debit note is prepared by the purchaser for ~he goods
being returned. Debit note indicates that his (seller's) account has been ~ebtted. This
document states the date of transaction, the account which has been debited, amount
and the reason of return.
5. Credit Note
On the receipt of sold goods which are returned by the purchaser then ~ credit
note is sent by seller to the purchaser indicating that his account has been credited by
the value of goods returned.
6. Deposit/Pay-in-Slip
The slip which is filled for depositing cash of cheque in bank is known as 'Pay-
in-Slip'. Bank returns the counter foil of the slip after stamping it. The foil part of pay-
in-slip becomes the source document for bank and counter foil of pay-in-slip becomes
the source document for depositor for making accounting records.
7. Cheque
Cheque is an order made to the bank for payment of the amount mentioned in it.
In each cheque a foil is attached to it. This foil is considered as the basis for recording
transactions.
8 . Challan
A challan is an agreement to sell the goods in which property or ownership of the
goods is not passed to the buyer till an invoice is prepared. The customer has only the
possession of goods but he is not the owner of goods. These are issued for credit sales.
9. Orde r s
An order or purchase order is a legal document used by a buyer and sent to a
supplier for supply of goods in future. A purchase order specifies items, quantities, prices
and credit terms for a purchase from the vendor.

Vouchers
An accounting voucher is a record that acts as a supporting document to the entries
recorded in the accounting books. The voucher works similar to source documents and
acts as an evidence for transactions.
Accountants need to create a voucher when an invoice is received from a supplier
and payment has been done. These voucher are basically attached with supporting
documents related to any payment etc.
Definitions

. According to Batllbol, "A voucher may be defined as a documentary evidence

in support of an entry appearing in the books of accounts."
. As p~r. _Irish,. "A voucher may be a receipt, an invoice, an agreement,
wntten .requ1s1t1on shp or any suitable written evidence, which confirms a business
transaction. "
 Business Transactions and Source Document 61

Character istics of Main Voucher

The characteristics of source document or main voucher are as follows :
( 1) A written document.
(2) Voucher is a documentary evidence.
(3) Vouchers verify the transactions appearing in the books of account.
(4) Vouchers provide full description of the transaction appearing in the books
of account.
(5) Vouchers verify the accuracy and authenticity of the transactions appearing
in the books of account.
Difference between Source Document and Voucher
Inspite of some similarities between source document and voucher following are
few differences between source document and vouchers :
Basis of
Source Document Voucher
difference
1. Definition Source documents are documents Vouchers are summarises the
which provide details of various transactions which takes
transactions. place between different parties.
2. Purpose Provide evidence of transaction. Authorizes and tracks transactions.
3. Example Invoices, receipts, challan, cash Debit note, credit note, payment
memo etc. vouchers.

Formation of Vouchers
On the basis of source documents, vouchers are prepared. On the basis of these
accounting vouchers also accounting entries are made in the books of account. Each
organisation has its own tailormade vouchers printed according to their need. For each
transaction a voucher is prepared and the name of the account is then recorded on it
which has to be debited or credited. Serial number is mentioned on each voucher. All
other documents related to the transactions are enclosed with the voucher.

Types of Accounting Vouchers

On the basis of the nature of voucher, vouchers can be classified in two parts :
( 1) Cash Voucher,
(2) Non-Cash Voucher.
(1) Cash Voucher-Cash vouchers are
prepared for cash transactions. It is of two type :
(a) Debit Voucher, (b) Credit Voucher. TypesofAcc ounilng
(a) Debit Voucher-Deb it voucher Vouchers&
is prepared for all cash payments. The cash
payments may relate to followings : 1. Cash Voucher
• cash expenses, (a) Debit Voucher
• purchase of goods for cash, (b) Credit Voucher
• investments, 2. Non-Cash Voucher
• cash purchase of fixed assets,
• payments to creditors,
• depositing money in bank,
• Payment of loan or borrowings.
 41

~- - - 62 ~ Sbivalal Accountancy : Class XI

In debit voucher one aspect in related to cash payment and anoth~r aspect is
related to the person or firm who is being affected by the cash payments bemg ma~e or
it may be an item of expense or assets for which payments is being made. The speclillen
of debit voucher is as follows :
Specimen of Debit Voucher

Debit Voucher
Mis SHIVA LAL AGARWALA & Co.
Khajuri Bazar, Indore
V. No. 41 Dt. . ./../....

Debit. ....................... Salary Ale ............................ Rs. P.

·························································· ··················· 1,000 00
(For Salary for the month of March)
Total 1,000 00
Signature Signature

00 (Chief Manager) (Accountant)

If the amount of debit voucher is more than ~ 500 then ~ l revenue stamp is to
be affixed on it.
(b) Credit Voucher-Credit voucher is prepared for cash receipts. Cash receipts
in an organisation is prepared for following receipts in cash : :
• receipt of income in cash.
• cash sale of goods.
• cash receipt by sale of investments.
• sale of assets for cash.
• realisation from debtors.
• withdrawal of cash from bank.
Io all transactions related to cash receipt one aspect is related to cash and other
aspe_ct is related to_a person or firm or an income or assets due to which cash is being
received. The specimen of a credit voucher is as follows.
Specimen of Credit Voucher
Credit Voucher
Mis SHIVA LAL AGARWALA & Co.
Khajuri Bazar, Indore
V. No. 52 Dt. . ./../....
Credit. ..................... Sales Ale......................... Rs. P.
··············································································
(For Goods sold for cash vide Cash Memo No. 15) 5,000 00

Total 5,000 00
Signature Signature
(Chief Manager) (Accountant)
 Business Transactions and Source Document 63
(2) Non-cash Voucher-Non-cash vouchers are prepared for credit transactions.
These are also known as adjustment or transfer vouchers. This voucher is prepared for
the following type of transactions :
• goods purchased on credit.
• goods sold on credit.
• purchase of investment on credit.
• sale of investments on credit.
• purchase of assets on credit.
• sale of assets on credit.
• provision of depreciation.
• writing of bad-debts.
Specimen of Non-Cash Voucher

Non-cash Voucher
Mis SHIVA LAL AGARWALA & Co.
Khajuri Bazar, Indore
V. No. 21 Dt. ../../....
Debit.. ......... Purchase Ale .....................................
100 Mt. Markin @ 60 per metre 6,000
20 Mt. Lattha @ 20 per metre 400
Total 6,400
Credit Triveni Cloth Store
6,400
Total 6,400

Signature Signature
(Chief Manager) (Accountant)

This voucher depicts both debit and credit aspect.

Voucher includes the following elements :
(i) Name and address of the organisation.
(ii) Serial number of voucher.
(iii) Date of voucher.
(iv) The name of the account which has to be debited or credited.
(v) Details.
(vi) Amount of voucher.
(vii) Serial No. of source document.
(viii) Signatures on voucher to verity its validity.
Illustration l . Prepare debit vouchers for following transactions of M/s Alaska
Enterprises, Indore :
2023
May 02 Purchased furniture for office 6,000
May 28 Purchased goods for cash 10,000
May 30 Paid electricity expenses 2,000
 64 Shivalal Accountancy : Class XI
------
Solution :

0 (/) ::D Debit Voucher

i3§
C: 0-·
Cl)-<
M/s ALASKA ENTERPRISES
i~~
=r. =;-
Indore
.. 0
:. :: 3 V. No. 39 Dt. 02/05/2023
: .
)>
ii> Debit.. .................... Furniture Ale .......................... Rs. P.
L\
....
. :
(/)

"'"
I» ············································································· 6,000 00
om
::::, ::::, (For Purchase of Furniture)
I» ...
8~
0~
Total 6,000 00
C: -·
::::, (/)
-I Signature Signature

00 <
a:
CD
I»
Cl)
(Chief Manager) (Accountant)

0
::,- C: CD
Cl) :D Debit Voucher
ZC: 3 i
0 -· Mis ALASKA ENTERPRISES
CD - <
c, :lJ CD
Indore

~i
Ill (I)

-
Q.
(I) •
-,
0
3 V.No.40 Dt. 28/05/2023
)>
ii,
en
Debit. ..................... Purchase Ale ......................... Rs. P.
~j
':,,:
Ill ..............................................................................
om
::::, ::::, (For Goods Purchased) 10,000 00
Ill a>
~~- Total 10,000 00
-~
::::, (/)
Signature Signature
00 <
i: (Chief Manager) (Accountant)

1~ :JJ Debit Voucher

i
~a,&
:f. Mis ALASKA ENTERPRISES
Indore
~- a
..
f i 3 V. No. 41
...
. .
.. Dt. 30/05/2023
.. ..
.. .. i Debit ....................... Electriclty Ale ........................ P.
-
Ra .
~1bm~ ·············································································
::::, ::, (For Electricity Expenses) 2,000 00
i» 1D
8 -a::J.
g Total 2,000 OQ_
-
am
s.
Signature Signature

00 a. I»
Cl)(/)

(Chief Manager) (Accountant)

-
 Business Transactions and Source Document 65
Illustration 2. Prepare debit voucher for transaction of Mis Asha electricals of
Bhopal:
2023 t
April 2 Purchased 10 Fans (Table) for cash 10,000
April 6 Purchased 5 Tubelight for cash 2,000
April 12 Paid Salary 15,000
April 30 Paid Ram 5,000
April 30 Paid Rent to Landlord 2,500
Solution :

C') Cl) ::D

:::r C: CD Debit Voucher
CD
.D
3 C'>
CD
C:
- <
0 -· M/s ASHA ELECTRICALS
nCD ::D
Q>
CD
a. Bhopal
-
Cl)
Cl) •
?' ..,
.. 0 V.No.42 Dt. .02/04/2023
.. ..
. . 3
:>
..: ..: :::r Debit. ..................... Purchase Ale .........................
Cl) Rs. P.
a.:
~= Q> ·············································································
om -
:::, (For Purchase of 1o Table Fan}
10,000 00
Q> CD
C') C')
C') ::;-
0
C:
-·
C')
Total 10,000 00
:::, ~
-Cl) Signature Signature
<

00 C: Q>
CD Cl>
(Chief Manager) (Accountant)

C') Cl) ::D

:::r c: CD Debit Voucher
CD 3 C'>
.D CD
C:
<
0 -· M/s ASHA ELECTRIC ALS
fil
CD -
::D CD
Cl) a. Bhopal
Cl) •
?'
..
. .
..,
0- V. No. 43 Dt. 06/04/2023
... ....
....
3
. :> Debit. ..................... Purchase A/c ......................... Rs. P.
~!g Cl)
:::r
Q>

!!!
.............................................................................
2,000 00
Q> CD
(For Purchase of 5 Tubellght)
§ s.
C: (')
Total 2,000 00
:::, !.
- CII Signature Signature
~-
00 2-~
(Chief Manager) (Accountant)
fl~\: ;.;{ 66
~
5' Shivalal Accoun tancy: Class X1

0
:::r
(/)
C
:D
(I)
Debit Vouch er
i 3 o
CO!!!. Mis ASHA ELECTRICALS
<
£
(I) -
:D a.
(/)
.
(I) Bhopal
(/)
:::r
-
0 V. No. 44 Dt. 12/04/2023

u
3
Rs. P.
Debit····················Salary Ale.··.... ·· ...... .. ·.. ·...........
)>
C/l
:::r
Q) ............................................ ................................. 15,000 00
. b m
Q)
::, -
(I)
(For Salary for the month of April)
§~ Total 15,000 00
C 0
::, ~ Signature
-C/l
<
Signature

00 a: Q)
(I)(/)
(Chief Manager) (Accountant)

Debit Vouch r r
M/s ASHA ELECTRICALS
Bhopal

V. No.45 Dt. 30/04/2023

Debit. .............................. Ram ... ......... ...... ... ....... .. Rs. P.

5,000 00
(For Payment to Ram)
Total 5,000 00

Signatu re Signature

00 (Chief Manag er) (Accountant)

~

0
:::r
(/)
C
:D
(I)
Debit Vouch er
(I) 3 0
.D
CO - ·
-
(I)
<
Mis ASHA ELEC TRICA LS
(I)
i:f .:D(/) a. (I) Bhopal
(/)
:::r
3
-
0 V. No. 46 Dt. 30/04/2 023

~I Om
::,
Q)
0
)>
C/l
:::r
Q)

-
(I)
0
Debit. ........ ........... ........... Rent Ale ........................
······················ ··········· ··········· ·································
(For Rent to Landlord for month of April)
Rs. P._
2 ,500 00
-
0 ~
0
C
- ·
0
Total 2,500 00
::, !!.
-(/)
Signatu re Signat ure

00
<
a: Q)
(I)(/)

(Chief Manag er) (Accou ntant)

Illustra tion 3. Prepare credit vouchers for following transactions of Mis Nagpal Safe
Works, Gwalior :
2003 t
June 3 Sold four Almirah for cash 40,000
 Business Transactions and Source Document

June 15 Received Rent

~ , ___
5,000
June 30 Received from Ratan Enterprises 4,000
Solu tion :

Credit Voucher
M/s NAG PAL SAFE WOR KS
Gwa lior
V.No .50 Dt. 03/06/2023 ,,
Credit. .................... .

I
Sales Ale ......................... Rs. P.

(For Sale of 4 Almirah Cash Memo No. 15) 40,000 00

Total 40,000 00
Signature
Signature
(Chief Manager) (Accountant)

Cred it Vouc her

M/s NAG PAL SAFE WOR KS
Gwalior
V. No. 51 Dt. 15/06/2023
Credit....... ............... Rent Ale .. ........ ... ............ . Rs. P.
································································· ·············
(For Rent Received vide Cash Memo No. 16) 5,000 00

Total 5,000 oo
Signature Signature
(Chief Man ager ) (Accountant)

Cred it Vouc her

M/s NAG PAL SAF E WOR KS
Gwa lior

V. No. 52 Dt. 30/06/2023

Credit.. ............ ..... ... Ratan Enterprises ............ Rs. P.
..
········ ························································· ·············
(For Cash Received vide Cash Memo No. 17) 4,000 00

Total 4,000 00
Sign ature Signature
(Chief Man ager ) (Accountant)
~ _-_ ____( 68 1- i' Shivalal Accountancy : Class XI

Illustration 4. Prepare credit vouchers for following transactions of Mis Gargb, Sales,
Rewa :
2023 t
July 6 Sold old Furniture s,ooo
July 12 Received from Deepali Enterprises 2,000
July 14 Received from Sale of Shares 10,000
July 18 Goods Sold for Cash 12,000
July 19 Received Interest 1,000
Solution :

Credit Voucher
M/s GARGH SALES
Rewa
V. No. 62 Dt. 06/07/2023

Credit.. .. .......... .. ... .. . Furniture Ale .. .... .. .... .......... Rs. P.

······························· ··········· ····································
8,000 00
(For Old Furniture sold for cash vide Cash Memo No. 18)

Total 8,000 00
Signature Signature

(Chief Manager) (Accountant)

Credit Voucher
M/s GARGH SALES
Rewa
V. No. 63 Dt. 12/07/2023

Credit. .......... ........... Deepali Enterprises .......... .. Rs. P.

··············································································
(For Cash Received vide Cash Memo No. 19) 2,000 00

Total 2,000 00
Signature Signature
(Chief Manager) (Accountant)
 Business Tr •
ansactions and Source Document 69

Credit Vouch er
Mis GARGH SALES
Rewa
V. No. 64
Dt. 14/07/2023
Credit. .....................
Investment Ale ................... Rs. P.
··············································································
(For Shares sold for cash vide Cash Memo No. 20) 10,000 00

Total 10,000 00
Signature
Signature
(Chief Mana ger)
(Accountant)

Credi t Voucher
M/s GARGH SALES
Rewa
V. No.65
Dt. 18/07/2023
Credit. ......................... Sales Ale ........................
Rs. P.
..............................................................................
(For Goods sold for cash vide Cash Memo No. 21) 12,000 00

Total 12,000 00
Signature Signature
(Chief Manager) (Accountant)

Credi t Vouch er
M/s GARGH SALES
Rewa
V. No. 66 Dt. 19/07/2023
Credit.......................... Interest Ale .................... . Rs. P.
··············································································
(For Interest received in cash vide Cash Memo No. 22) 1,000 00

Total 1,000 00
Signa ture Signature

(Chie f Mana ger) (Accountant)

 70 Shlvalal AccHntancy : Cla1..1 XI
lllus1 rn tio11 5. Prepare tran~fcr voucht"l' in the h<'\O"-' 1) 1 \1 . , Modern Boo~ Depot.
Guna for following trnn~a..tJOn:-
2023 f
Aug. 8 Purchase.cl book., from ~1 , '-\h1vnlal ,\ g.irn alJ '"'° ( ·n
on credit 20.000
Aug. 15 Sotcl boob lO ~l/s Shynm La l
& ~ons on c:rcdu X.000
Aug . :!O Books returned to Mis Shl\,nbl AgM",nla ..~ Cn
purdu cd on cmh1
Aug \O J>wdtnscd compulet from Mi s Ocltn Info Sy~tcrn
Solution :

NonaoCOsh Voucher
Mis MODERN BOOK DEPOT
Guna
V. No. 21 01 08/08fZ023
Oebit ........... Purchnso Ne.................
(Purchase o1 Books) 20.000
Total 20,000
Credrt Mis Shivolal Agar,.-ala & Co.
,,,..
. ,r,0
'
Tota l t>O 000
-- ·-
Signature S1g m1llHr.:
(Chief Manager) (Accoun tant)

N""_,..:'lsh Vouchrr
Mis MODERN BOOK DEPOT
Guna
V. No. 22 Dt. 15/08/2023
~ ~--~~Y.~':1:1..~ -~···Sons
Debit .......... ... ·· ··---· ··----·-- · ····

8,000

Total 8,000
Credit Sales Ale
{Books Sold) 8 ,000
Total 8,000
Signature Signature
(Chief Manager) (Accountant)
 Business Transa ctions and Source Docum ent ~ -71
Non-c ash Vouch er
M/s MODERN BOOK DEPOT
Guna
V. No. 23 Dt. 20/08/2023

Debit. ....... ~~~ -~-~!~~!~ 1

•• ~~~-~~!~ -~- ~.?.·...........
6,000

Total 6,000
Credit Purchase Return Ale
(Books Returned) 6000
Total 6,000

Signature Signature
(Accountant)
(Chief Manager)

Non-c ash Vouch er

M/s MODERN BOOK DEPOT
Guna
V. No. 24 Dt. 30/08/2023
. Office Equipment Ale
Debit. .................................................... .... .... .. ..
(Computer Purchased) 42,000

Total 42,000

Credit Mis Delta Info System

42,000
Total 42,000

Signat ure
Signature
(Accountant)
(Chief Manager)

I!Ju~tration 6. Prepare necessa ry vouchers for following transaction of Mis Speed

Business Machin e, Jabalpur.
2023 f
April I Goods purchas ed for cash 10,000
April 2 Goods sold for cash 5,000
April 8 Purchased Goods on Credit from Delta Store 8,000
April 16 Sold goods on credit to AIM Infotech 4,000
April 30 Paid Rent 2,000
April 30 Paid Salary 5,000
I Jl l"'ol .N)liaf- ----------= ----5------- ---- -

S ol ution :
~
______.1 Shivalal Accountancy : Class XJ
- -
0
=r
(/)
C:
:::0
(D
Debit Voucher
i 3 2 M/s SPEED BUSINESS MACHINE
l6 0 <"
£en
-- -
:::0 a.
(D Jabalpur
=r .en =t
0
3 Dt. 01 /04/2023
(/) V. No. 31
"O
(D
(D
a. Debit. ............. ........ Purchase Ale ....... ............... ... Rs. P.
~! CD
C:
(/) ···········.................. ... ....
········································· 10,000 00
a s·
:::, (D
(/)
(For Goods Purchased)
Ill cn
8 s:: Total 10,000 00
O Ill
C: 0
::J =r
Signature Signature
- S"

00 < (D
0: Ill
(D (/)
(Chief Manager) (Accountant)

Credit Vouch'--r
M/s SPEED BUSINESS MACHINE
Jabalpur

V.No. 48 Dt. 02/04/ 2023

Credit.. .................... Sales Ale ..... ......... ...... ... .. Rs. P.

··············································································
(For Goods Sold) 5,000 00

Total 5,000 00
Signature Signature
(Chief Manager) (Accountant)

Non-cash Voucher
Mis SPEED BUSINESS MACHINE
Jabalpur
V. No. 19 Dt. 08/04/2023
Debit................ Purchase Ale
···························
(Goods Purchased) 8 ,000

Total 8 ,000
Credit Delta Store

8 ,000
Total 8 ,000
Signature Signature
(Chief Manager) (Accountant )
 Business Transactions and Source Document ~ _ 7_3.-JJ......_• _......__
1

Non-cash Voucher
Mis SPEED BUSINESS MACHINE
Jabalpur
V.No.20 Dt. 16/04/2023

Debit. .................. ~.1.~..1.~.~?,~~~-~- ................... .....

4,000

Total 4,000
Credit Sales Ale
(For Goods Sold) 4,000
Total 4,000

Signature Signature

(Chief Manager) (Accountant)

g. ~ i Debit Voucher
i3g
C:
~-(I)
0 c::· M/s SPEED BUSINESS MACHINE
£en :::0
rn
a.
~
Jabalpur
-:::T. 0
: 3
V. No. 49 Dt. 30/04/2023

U!
:-+ j
g ~-
~
Debit.. ................. Rent Ale .. ..................... ...........
•..•...•...•..•........•..................•.....•.......•.....•...•••...•••..
(For Rent for the month of April)
Rs. P.
2,000 00

f/l
2,000 00
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _Total
00
8~.
Ql _ _..__...L--~
a~
0 Ql ...
Signature Signature

00 <
g: ~
(I)

(Chief Manager) (Accountant)

0
=r
f/l
C: Cl)
:::0 Debit Voucher
i3£ Mis SPEED BUSINESS MACHINE
i a c::·
£' :::0 a. Cl) Jabalpur
f/l f/l ::;-
?"" 0
3
V. No. 50 Dt. 30/04/2023

u
(/)
-0
Cl)
Cl) Debit. ..................... Salary Ale .............................. Rs. P.
a.

: en
CD
C: ············································································· 5,000 00
o s· (For Salary for the month of April)
~ m
0l en Total 5,000 00
8~
0 Ql
C: 0
~=:,- Signature Signature
-s·
00
< (I)
~~ (Chief Manager) (Accountant)
 r 74 r ) ShivalaJ Accountancy : Class XI

Objective Questions
@l Multiple Choice Questions

1. The basis of recording transactions is :

(a) Vouchers (b) Profit (c) Order form (d) Quotation fonn.
2. From source document we come to know :
(a) Nature of transactions (b) Amount
(c) Date and related parties (d) All of these.
3. Debit note is prepared by : (2 022)
(a) Purchaser (b) Seller (c) Customer (d) Bank.
-t. Voucher is prepared for : (NCERT)
(a) Cash received & paid (b) Cash/Credit sales
(c) Cash/Credit purchase (d) All of the above.
5. The written evidence of transaction is called : (2018)
(a) List (b) Source Document
(c) Statement (d) Invoice.
6. Voucher is prepared from : (NCERT)
(a) Documentory evidence (b) Journal entry
(c) Ledger account (d) All of the above.
Fill in the Blanks
1. ................ is prepared as an evidence for purchase of goods on credit.
2. The slip for depositing cash in bank as an evidence is called ... ......... ... . .
:::::-s=~ 3. Debit voucher is prepared for ......... ....... .
1@J True/False

1. Credit note is prepared on receiving goods returned.

2. Credit voucher is prepared for cash receipts of income.
3. Bill is prepared for cash purchases.
4. No need of vouchers to be in written form.
5. A cash memo is a source document. (2019)
6. There are two types of vouchers. (2024)
.Match the Following
'A' 'B'
1. For cash received on sale of investment we prepare (a) Cash sales
2. Cash Memo (b) Credit voucher
3. Pay-in-slip is used for which transactions (c) Written documents
4. Vouchers (d) Banking transactions
@] Answer in One Word/Sentence

I. Records on the basis of_vouchers are recorded in which books ?

2. for cash transaction wh1ch documents are prepared ?
3. On payments to crediors which vouch_er is prepared ?
4. What is the written document or certificate to cenify the business transactions
called. (202.1)
Very 'Short Answer Type Q11estions
I. What is invoice ? For which type of transdac~ion is invoice prepared ?
2. What is a debit note ? When is it prepare .
3. Mention the characteristics of source document.
 Business Transactions and Source Document

4. What is a Debit Voucher ? For what type of transactions is it prepared ?

5. What is a Credit Voucher ? For what type of transactions is it prepared ?
6. Explain Non-cash Voucher.
7. What is meant by source document ?
8. What is meant by business transactions ?
9. Write two characteristi cs of business transactions .
Short Answer Type Question s
1. What is meant by business transactions ? State its four characteristics.
2. What is Accounting Voucher ? (2022)
3. Give two examples of source document.
4. Write the characteristi cs of source document or vouchers. (2019)
5. State the types of Voucher.
6. When is debit note prepared ?
7. Explain the types of business transactions .
8. Why is the evidence provided by source documents important to accounting ?
(NCERT)
Long Answer Type Question s
1.What is a ' Source Document' ? Explain the various types of source documents.
2.What are Accounting Vouchers ? Explain their types.
3.Differentiate between source documents and vouchers. (NCERT)
4.Prepare Transfer Vouchers in the books of Mis Royal Store, Guna for following
transactions .
2023
July 10 Purchased Accountanc y books from Mis Shivalal Agarwala
& Co. on credit 15,000
July 12 Sold Economics books to Mis Shyamlal & Sons on credit 6,500
July 22 Books returned to Mis Shivalal Agarwala & Co. purchased
on credit 2,000
July 30 Purchased Furniture from Mis Delta Furniture 30,000
5. Prepare necessary vouchers for fo llowing transactions of Mis Gupta Overseas,
Jabalpur.
2023 t
April I Goods purchased for Cash 20,000
April 2 Goods sold for Cash 10,000
April 8 Purchased Goods on credit from Ansal Store 6,000
April 16 Sold goods on Credit to Morpheus Co. 4,000
April 30 Paid Advertisem ent Exp. 2,000
April 30 Paid Salary 5,000

ANSWER S TO OBJECTIVE QUESTIO NS ========

♦ Multiple Choice Questions :
♦ Fill in the Blanks :
♦ True/False :
♦ Match the Following :
1. (a), 2. (d), 3. (b), 4. (d), 5. (b), 6. (a).
1. Invoice, 2. Foil, 3. Payments.
1. True, 2. True, 3. False, 4. False, 5. True,
6. True.
1. ➔ (b), 2. ➔ (a), 3. ➔ (d), 4. ➔ (c).

♦ Answer in One Word/Sent ence : 1. Journal/Sub sidiary books, 2. Debit and Credit
voucher, 3. Debit voucher, 4. Source document/
voucher.