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DK Goel Solutions Class 11 Accountancy

Last updated date: 26th Jun 2024
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Class 11 DK Goel Solutions Accountancy

The accountancy syllabus for class 11 is quite lengthy. The chapters included in the curriculum are conceptually rich and quite scoring. All that a student has to ensure is a regular practice to score well in this subject. They can try and solve exercise questions with the help of reliable solutions. This would enhance their accuracy and efficiency.

Problems and solutions in Accountancy DK Goel Class 11 PDF have been drafted in a systematic way. This would make sure students do not get confused while going through the sums.

Class 11 students can rely on these solutions to learn the effective problem-solving methods, and enhance their time-management skills. Students can refer to the questions, and solve them within the specified time. With a good practice, they can boost their problem-solving speed. 

Students from the commerce stream can download the PDF of DK Goel Accountancy Class 11 solutions. Referring to this study material would be simpler when there is access to its soft copy.

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Accountancy DK Goel SolutionsFor Class 11

Chapters in DK Goel Class 11 Accountancy Solutions

Here’s a brief note on all the chapters included in the DK Goel Accountancy Solutions.

  • Chapter 1: Meaning and Objectives of Accounting

Accounting is the method of collecting, reporting, interpreting, and summarising financial transactions. It reveals the economic status of a business. Accountancy is also termed as ‘financial language’ sometimes. 

In the first chapter of DK Goel Accountancy Class 11, students are briefed on:

  • Debtors

  • Cash Discount

  • Profit

  • Loss

  • Financial Statement

  • Balance Sheet

  • Chapter 2: Basic Accounting Terms

Basic terms in accountancy include revenue, profit, fixed assets, current assets, revenue expenditure, etc.

  • Chapter 3: Accounting Principles

The principles based on which the accounts of a firm are managed have been detailed in this chapter. It includes:

  • Separate Legal Entity

  • Basic Accounting Equation

  • Characteristics of Accounting Principles

  • Chapter 4: Process and Bases of Accounting

This chapter of DK Goel Solutions Class 11 includes the cash basis of accounting and accrual basis of accounting.

  • Chapter 5: Accounting Standards and International Financial Reporting Standards (IFRS)

Accounting standards are the norms which dictate the drafting of a company’s financial statement. This chapter is all about accounting standards.

  • Chapter 6: Accounting Equations

The basic needs of accounting equations and numerical problems are discussed in this chapter.

  • Chapter 7: Double-entry System

The double-entry method of bookkeeping is the method of accounting where the effect of it will be on two accounts simultaneously.

  • Chapter 8: Origin of Transactions 

Source documents are the very first recorded instrument in a transaction. These documents serve as a base for the succeeding accounting processes.

  • Chapter 9: Journal

A book of original entry or a journal is where financial transactions of a firm are recorded in chronological order. This is the first document, where financial transactions are recorded. 

  • Chapter 10: Accounting for Goods and Service Tax (GST)

A firm has to pay GST on the supply of goods and services. It includes the erstwhile customs duty and excise duty. In this chapter of DK Goel Accountancy Class 11 Solutions, you learn how the GST accounting is done.

  • Chapter 11: Cashbook

The chapter includes accurate solutions on cash book entry sums. There are 31 sums in total.

  • Chapter 12: Special Purpose Subsidiary Books

This chapter contains sums on subsidiary book posting of transactions.

  • Chapter 13: Ledger

This chapter has 13 numerical problems on ledger posting.

  • Chapter 14: Trial Balance and Errors

Any record showing the balances (including credit and debit) of all recorded accounts is called a trial balance.

  • Chapter 15: Bank Reconciliation Statement

In this chapter, the solutions will help you to understand how to make the bank reconciliation statement based on the provided data.

  • Chapter 16: Depreciation

Here you will have to calculate depreciation on the basis of asset values.

  • Chapter 17: Provisions and Reserves

Provision is the amount retained through depreciation, renewal, and devaluation of assets. Reserve is the amount kept aside from profit and surplus to finance future requirements.

  • Chapter 18: Bills of Exchange

This chapter has sums for calculating discounting charges, interest amounts, etc. You can refer to the Solutions in case of any doubt.

  • Chapter 19: Rectification of Errors

In this chapter of DK Goel Accountancy Class 11 solutions, you get accurate and error-free solutions to 39 sums.

  • Chapter 20: Capital and Revenue

Capital expenditure, revenue expenditure, their differences, etc. have been detailed in this chapter.

  • Chapter 21: Financial Statements

Here you will learn the method of calculating the cost of sold goods, adjusted purchases, gross profit, direct expense, net purchase, the value of sales, etc.

  • Chapter 22: Financial Statements– With Adjustments

In this chapter of Class 11 Accounts DK Goel Solutions, you will learn how to find different values in a financial statement after adjusting the data.

  • Chapter 23: Accounts from Incomplete Records

This chapter is again a combination of numerical problems, followed by the solutions.

  • Chapter 24: Introduction to Computers

Chapter 24 will brief you on how a computer works, its components, hardware, software, etc.

  • Chapter 25: Introduction to Accounting Information System

This form of accounting has been rising in popularity lately. Chapter 25 in DK Goel Accountancy Class 11 free PDF explains the various purposes of the accounting information system. 

  • Chapter 26: Computerised Accounting System

This chapter explains how the computerized accounting system is different from manual accounting.

  • Chapter 27: Accounting Software Package - Tally

This chapter explains the features of tally software. Students can now avail of the DK Goel Accountancy Class 11 PDF download 2024-25 option online. Get yourself a copy of the solutions now to boost your exam preparations.

Introduction – DK Goel Solutions Class 11 Accountancy

When the students first choose Accountancy in Class 11, they may find it easier or more complex which depends on how well they understand the concepts. The student of class 11 needs to learn all the basics very well and it's necessary to learn the best way intelligently which is through practicing DK Goel book solutions, which are explained and resolved according to the chapter. We, at Vedantu, provide DK Goel solutions for CBSE Class 11 Accountancy to assist students in understanding all ideas. There are many concepts in Accounting, but the concept of Trial Balance, Depreciation, and Bank Reconciliation Statement (BRS) is considered the most important.

DK Goel Textbook Solutions is described by topic experts. These model solutions include comprehensive, step-by-step solutions to all questions found in DK Goel's Accountancy book. They can be very helpful to students when they finish their homework or while studying for their exams.

Some of the special features of DK Goel Solutions Class 11 are:

  • The practical questions provided at the end of each chapter are based on the most recent CBSE questionnaires and these are illustrated. Answers and tips for answering the questions are provided at the end of all the questions. We are very confident that after taking the pictures, students can freely solve useful questions.

  • A few examples are given in each chapter and these are explained in such a simple way that learners understand them clearly.

  • The book covers Multiple Choices, Short answer types, Value-based answers, objective types, and practical questions at the end of each chapter so students can test their understanding of the chapter.

  • The weight of each topic is given according to the marks allocated by CBSE.

  • Accuracy is one of the key features of Solutions.

  • Part A is divided into two volumes for the benefit of the learners.

  • Volume Cover 1 Partnership Accounts while Volume 2 contains Company Accounts.

FAQs on DK Goel Solutions Class 11 Accountancy

1. How many chapters are there in DK Goel Accountancy Class 11 Solutions?

There are 27 chapters in the DK Goel Accountancy Solutions for Class 11 students. These chapters are based on commerce and accounting in business. In DK Goel Accountancy Class 11 Solutions book the experts have presented various types of accounting topics such as definition and accounting objectives, accounting principles, Commerce Accounting, accounting system and accounting principles, Accounting equations, double-entry system, and many other very useful chapters. The experts are trying to build a strong arithmetic foundation and concept for Commerce students.

2. How many sums are there in the financial statement chapter of DK Goel Solutions?

There are 18 sums solved in the Financial Statement chapter of DK Goel Solutions. These Solutions will help students to understand how various numerical problems can be solved. All chapters are equally important for students to build in-depth knowledge of the subject by practicing a plethora of different questions. On the Vedantu website, we have provided solutions to all the questions provided in each chapter of the DK Goel Class 11 Accountancy textbook. DK Goel is the best professional learning material.

3. How many chapters on DK Goel Accountancy Solutions are based on Computers?

There are 4 chapters related to the computer, software, and computerized accounting in DK Goel Class 11 Solutions. They are Introduction to Computers, Introduction to Accounting Information System, Computerised Accounting System, and Accounting Software Package (Tally). This helps the students a lot about Goods and services tax used in tally proceedings in different corporations. Increasing knowledge in these areas of importance will help the students in the future when they apply for tally jobs. Hence, DK Goel Accountancy Solutions Class 11 is very important.

4. What are the reasons a student should study DK Goel Solutions Class 11 Accountancy well?

Here are some of the reasons why students read this lesson so well: 

  • With the right knowledge and skills, students can receive greater academic exposure to be accepted into tertiary institutions.

  • The Class 11 Accounting Syllabus is designed to develop a solid accounting foundation, which helps students understand advanced problems in the future.

  • It polishes the student’s skills and learning, giving them a great opportunity to weave a successful accounting career.

  • Increase students' knowledge and confidence to take on lucrative jobs in high-end financial companies in the future.

5. What are some tips for the preparation of DK Goel Solutions Class 11 Accountancy?

The following tips will help students prepare for Accountancy: 

  • Understand all the concepts so that you can have a solid foundation

  • Solve the accounts sums every day

  • Be careful how much time you spend on each problem sum

  • Spend at least 15 minutes exploring questions and a paper sample before you start solving paper

  • Solve sample papers once or twice a week for consistency

  • Understand the basics of accounting for a better thinking approach for the students

  • Keep small notes for each idea