DK Goel Accountancy Solutions for Class 11 and 12

Accountancy is one of the core subjects in the commerce curriculum. The students get a glimpse of the subjects just after they step into class 11. The accountancy syllabus in class 11 is carefully tailored to educate the students with basic concepts and theories of accountancy.

However, many of them fail to grasp the subject, being puzzled by the vast syllabus. Therefore, they find the subject diplomatic.

This can severely influence their class 12 boards score. As the accountancy syllabus in class 12 sets a new mark of difficulty.

We provide here DK Goel Solutions for Class 11 and 12 students of Accountancy developed based on the latest book for current session.

To cope with these problems and develop a strong base of understanding, every student needs a systematic and smart study material. DK Goel here comes to the rescue with its well-designed descriptive and chapter-wise solutions.

The textbooks simplify the concepts of Trial Balance, Depreciation, and other theories to frame a better future for the students. The experts complement DK Goel Accountancy solutions to be one of the premium study materials to build a concrete core of the subject.

So, let’s dig in to find how DK Goel Solutions can be a boon to the students –

DK Goel Solutions for Class 11 and 12 – Features 

DK Goel textbooks, with its highly optimized study material, has beautifully sketched its name in the list of top-grade accountancy textbooks. DK Goel Solutions can be the magic wand to devise an efficient studying mechanism.

All the solutions are clear to understand as they are presented chapter-wise, after analyzing the guidelines of CBSE. It is the most recommended tool for students pursuing commerce in classes 11 and 12.

The solution presents the ladder for the students to pave their way to professional fields such as CMA, ICWA, and CA. Here are some of the significant features of DK Goel Accountancy Solutions –

• DK Goel textbooks present one of the most committed solutions to help students level up their exam preparation. 
• In today’s era of the Internet, knowledge is available for free. So, DK Goel also presents all its solutions for free, paving a better future for the youth. 
• All the textbook solutions are efficiently designed under the influence of CBSE guidelines. 
• DK Goel Solution is the gateway to comprehend all the concepts of accountancy for the students.
• Its chapter-wise solutions make it a piece of cake to grasp various theories and develop an in-depth understanding of the subject.
• It serves as one of the incredible medium of preparation and revision to score well in the examinations.
• The systematic studying of the concepts and practicing of the questions can act as a catalyst to amplify the board exam marks. 
• The textbooks present tons of value-based questions along with their solutions at the end of every chapter. 
• DK Goel textbooks include the perfect blend of long answer questions, short answer type questions, MCQs, and value-based questions to instill the students with the logic of the various topics. 
• Every question’s solution is efficiently explained with relevant examples, elaborating concepts in a simple and explicit manner.
• The solutions to the complex problems are elaborated by multiple approaches and different solving procedures, which allows the students to pick the answer that suits their understanding.

DK Goel Accountancy Class 11 Chapter Details 

Class 11 is the first time when accountancy is added to the curriculum of commerce stream students. CBSE efficiently designs the syllabus to frame a better understanding of the fundamental concepts of the subject.

It covers every sphere of the subject to train the subjects for achieving academic excellence. Here are the details of the chapters of DK Goel Solutions class 11 –

Chapter 1: Meaning and Objectives of Accounting – This is the first chapter of DK Goel Accountancy Class 11 Solutions, which sets a stage for the students to serve them with fundamental elements of Accountancy, explaining bout – 

• The actual meaning of the term ‘Accountancy.’
• An insight into Balance Sheets. 
• A brief on Financial Statements.
• The basics about Debtors.
• Insight of the Profit & Loss system. 
• Meaning of Cash Discount. 

Chapter 2: Basic Accounting Terms – The second chapter of accountancy explains the basic accounting terms such as profit, loss, revenue, revenue expenditures, current assets, fixed assets, intangible assets, business transactions, capital, liabilities, and its types, etc., to the students.

It includes various examples explaining the meaning of the terms and pointing out the basic differences between them.

Chapter 3: Accounting Principles – This chapter in DK Goel Accountancy Class 11 gives a brief about the core principles of Accountancy, which includes –

• Basic Characteristics of Accounting Principles 
• Explanation of the Basic Accounting Equation
• A brief Separate and Business Legal Entity
• Money Measurement Concepts

Chapter 4: Process and Bases of Accounting – This chapter explains a ton of topics, including- 

• Process of Accounting
• Cash Basis of Accounting
• Accrual Basis of Accounting

Chapter 5: Accounting Standards and International Financial Reporting Standards (IFRS) – 
Brief about – Accounting Standards – its meaning, advantages, disadvantages, and objectives, International Financial Reporting Standards (IFRS) – all rules and regulations required for a company to draft the financial statements. 

Chapter 6: Accounting Equation –
Having accounting equations and a ton of numerical problems.

Chapter 7: Double-Entry System – 
In-depth knowledge about the Double-Entry System, types of accounts, and their importance. 

Chapter 8: Origin of Transactions: Source Documents of Accountancy –
Insight into source documents of accountancy, invoice, cheque, and other processes regarding the initial phases of transactions.

Chapter 9: Books of Original Entry: Journal – 
DK Goel Accountancy Class 11 Solutions Chapter 9 Journal highlights a crystal-clear picture instilling the knowledge about journals within the learners.

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

• Concepts of GST
• Theories of SGST 
• Numerical on GST and SGST

Chapter 11: Books of Original Entry: Cashbook – 
Presents a wide variety of numerical related to Cashbooks.

Chapter 12: Books of Original Entry: Special Purpose Subsidiary Books
This chapter of DK Goel Accounting Solutions presents a wide variety of sums related to subsidiary book posting of transactions and purchase book.

Chapter 13: Ledger – 
This chapter of DK Goel solutions contains almost 13 types of numerical problems on Ledger Posting.

Chapter 14: Trial Balance and Errors – 
This chapter of accountancy explains various concepts and theories of the trial balance system, with various numerical.

Chapter 15: Bank Reconciliation Statements – 
This chapter of DK Goel accountancy stresses the concepts of bank reconciliation statements.

Chapter 16: Depreciation – 
This chapter DK Goel solutions depicts the use and concepts of depreciation with value-based problems.

Chapter 17: Provisions and Reserves – 
This chapter presents a piece of deep information about provision, reserves, their types, and differences.

Chapter 18:  Bills of Exchanges – 
This chapter of DK Goel depicts the clear picture of topics like due dates, interest amounts, discounting charges, and many more.

Chapter 19: Rectification of Errors – 
This chapter teaches the students the art of coping up with mistakes. It teaches them to handle and rectify data under certain guidelines.

Chapter 20: Capital and Revenue –
This chapter provides in-depth information about capital expenditure, revenue expenditure, and the contradiction between them.

Chapter 21: Financial Statements – 
This chapter in DK Goel Accountancy Class 11 Solutions educates the students about trading accounts and helps them to develop an understanding of adjusted purchase, gross profit, direct expenditure, the cost of sold goods, the value of sales, and other important topics.

Chapter 22: Financial Statements with Adjustments –
This chapter of DK Goel solutions class 11 includes various value-based calculations of financial statements after proper adjustment of the data.

Chapter 23: Accounts from Incomplete Records – 
This chapter of DK Goel Solutions includes understanding the process to create financial books based on incomplete data available which leads to an informal accounting process. 

Chapter 24: Introduction to Computers – 
This chapter presents insight into computers and the functioning of their various components.

Chapter 25: Introduction to Accounting Information System – 
This chapter in DK Goel Accountancy Class 11 explains the relation between computers and accounting and the organizational levels.

Chapter 26: Computerised Accounting System – 
This chapter presents keen knowledge about the meaning and working of Computerised Accounting System. It elaborates the difference between a computerized accounting system with manual accounting mechanism.

Chapter 27: Accounting Software Package – Tally – This chapter presents an insight into Tally – its features and installation processes. 

The most important topics for Class 11 Accountancy 

• Depreciation
• Financial Statement of Sole Proprietorship
• Journal Entry
• Adjustment In Preparation Of Financial Statement
• Accounting for Billing of Exchange

DK Goel Accountancy Class 12 Chapter Details

Class 12 Accountancy is one of the mandatory subjects, which carries significant weightage. Therefore, it is exceptionally crucial to stress on developing a much deeper grasp of accountancy concepts to secure well in board examination.

Students with a weak core in accountancy may suffer in the examination. Therefore, it is recommended to practice questions of every genre; here, DK Goel Accountancy Solutions can be the magic spell for the students to achieve the mark of academic success.

To instill the maximum knowledge of accountancy, DK Goel solutions class 12 curriculum is divided into two sections – Volume 1 and Volume 2.
Here are the crucial chapter include by CBSE in the class 12 accountancy syllabus – 

DK Goel Accountancy Class 12 Solutions Part A Volume 1 

Chapter 1 Financial Statements of Not for Profit Organisations –
This chapter explains how accounting for not-for-profit organizations is done.

It’s little different from the way its done for other organizations. Students can understand the concepts and also refer to solutions provided here

Chapter 2: Accounting for Partnership Firms – Fundamentals –
Accounting for Partnership Firm teaches the profit or loss distribution system to the class 12 students.

The students possess a glimpse of profit and loss in accountancy in class 11.
In this class, the subject is leveled up. Partnership firms refer to a company that contains multiple owners, who split the profit and liabilities among each other.

All the legal agreements and division percentages are determined at the time of setting up the company.
The students study the various concepts of the topic and develop deep learning through four primary types of problems.

Chapter 3: Changing in Profit-Sharing Ratio among the Existing Partners – 
The second chapter of DK Goel Solutions class 12 primarily deals with the shifting of the profit and liability ratios among multiple business partners, influenced by a specific circumstance.

This accountancy chapter teaches the students about various concepts such as sacrifice ratio, average profit, changing ratio, gaining ratio, etc.

Chapter 4: Admission of a Partner – 
The third chapter of DK Goel Accountancy Class 12 Volume 1 share precise terminology about the changes in the profit and liabilities distribution on the addition of a new proprietor of the firm.

Chapter 5: Retirement or Death of a Partner – 
This chapter of DK Goel Solutions is a portal of concepts and numerical regarding the changes in the firm after the death or retirement of one of the current partners of the agency. The students get a clear view of how to deal with complex problems.

Chapter 6: Dissolution of Partnership Firm –
This chapter 5 of accountancy includes a brief description of the accounting methodologies and theories necessary on the grounds of a company’s disintegration. 

DK Goel Accountancy Class 12 Solutions Part A Volume 2

Chapter 7 Company Accounts Issue of Share –
In this chapter the students will be able to understand what is issue of shares to the general public and what is the process of doing accounting whenever a company issues shares.

This is a very important topic as it will be really helpful in future years. Students can refer to the solutions provided over here

Chapter 8 Company Accounts Issue of Debentures –
Companies issue debentures whenever they need extra money for expansion of business.

In this chapter, the students will be able to understand the meaning of debentures and what is the accounting process whenever fresh debentures are issued. students can refer to the solutions provided here relating to questions for the issue of debentures

Chapter 9 Company Accounts Redemption of Debentures –
When the company pays back the money relating to the debentures when it is called the redemption of debentures.

Students will be able to understand the accounting process when redemption of debentures is done by a company.

This is a very interesting topic and the students should also solve questions and refer to the solutions provided here.

DK Goel Accountancy Class 12 Solutions Part B

Chapter 1: Financial Statements of Companies – 
The first chapter of DK Goel Accountancy Solutions presents transparent knowledge about the system of efficiently drafting the four vital financial statements – balance sheets, statements of shareholder’s equity, cash flow statements, and income statements.

It prepares a report portraying information about a company’s assets, equity, liabilities, expenses, profit, or losses. 

Chapter 2: Financial Statements Analysis – 
This chapter of DK Goel Solutions includes the terminologies of financial statement analysis, i.e., the process of monitoring the financial statement of an agency before framing a decision.

It assists the students to gauge up the financial performance of a firm and define the business values. 

Chapter 3: Tools of Financial Analysis: Comparative Statements – 
This chapter of DK Goel Accountancy Solutions Class 12 gives a brief about various tools or mechanisms to analyze the financial statements of a firm, including the learnings of comparative balance sheets.

Chapter 4: Common Size Statements – 
The fourth chapter of accountancy highlights the concepts and theories trailing common size statements.

Chapter 5: Accounting Ratios – 
This chapter of DK Goel Solutions Class 12 develop a perception about various accounting ratios such as current liability, current ratio, and quick ratio.

Chapter 6: Cash Flow Statements – 
This chapter is essential for every class 12 students who desire to develop a deep understanding of the cash flow statements and various concepts relating to them. 

The most critical topics for Class 12 Accountancy – 

• 1st Topic – Accounting for Share Capital and Debenture
• 2nd Topic – Accounting for Partnership Firms 
• 3rd Topic – Accounting for Not-Profit Organisations

Benefits of Learning from DK Goel Accountancy Solutions Class 11 and 12

DK Goel is a hub of benefits for the commerce stream students. It avails a bag full of fruitfulness, which are as follows –

• The top-notch faculties effectively prepare DK Goel Solutions.
• All the questions and answers are effectively designed under the CBSE guidelines.
• Most of the answers cover all the concepts and theories.
• The answers are designed to simplify accountancy learning. This dismantles diplomatic problems into manageable solutions.
• All the solutions are presented efficiently and solved chapter-wise.
• DK Goel Solutions makes accountancy easier. Students can quickly grab the terminologies of the subject after a practical study of the textbook.
• It offers a wide range of problems with correct and complete answers to all the questions, covering all required topics.
• For the sake of the learner’s convenience, all the important sections are highlighted in the textbook.
• DK Goel Accountancy Solutions Class 11 and 12 textbooks are available free of cost.

Preparation Guide for DK Goel Accountancy Solutions Class 11 and 12

Accountancy plays the role of the captain of a ship to frame a better future for the commerce students.

Therefore, the students must have a hold on the subject. In order to pave their way to the different successful fields of work, the students must follow the basic principles of structuring a powerful base.

Here are the four core pillars to prepare for Accountancy –

Stress on understanding the concepts rather than jotting them down –The most promising weapon to conquer the battle of accountancy examination is developing an in-depth understanding of the various theories, concepts, definitions, meanings, and examples revolving around the subject.

Rely on the most trusted study material for solving the questions – 
The students must have their hands on the best study material to present them the perfect blend of concepts and supply them with correct solutions. Look for a reputable textbook-like DK Goel Solutions, for a convenient understanding of the topics.

Practice problems from every chapter – 
Although there are few chapters from which each year a ton of questions are asked, every chapter possesses equal importance for a student’s overall growth.

Analyze and work on sample papers and previous year’s paper – 
Class 12 examination is one of the career deciding factors for the students. Therefore, they must work their bones out to secure well in the examination.

Analyze the latest sample papers and the past year’s question papers. Practice the questions from them to grasp the marking scheme and questioning pattern. Try to complete the papers within a fixed slot of time. This will boost up the preparation and help in time management.

DK Goel Solutions (Video)

Frequently Asked Questions (FAQs)

Why DK Goel solution is essential for Class 12?

DK Goel solutions knowledge of several topics like – financial transactions, business records, information and technology, and many more, which helps the students to channelize their true potential in academic fields

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

There are 27 chapters in the class 11 accountancy syllabus. Each chapter possesses vitality, defining a bunch of concrete principles and concepts regarding the subject.

What does Accounting for Share Capital and Debenture mean?

This is one of the fundamental topics of class 12 accountancy. The shareholders or stakeholders supply the capital of an agency.

These shareholders squeeze out a share from the company in exchange for funds. Share Capital involves these types of transactions. There are various categories of share capital.

At the same time, accounting for debenture refers to the long-term insurance blending out a predefined rate of interest issued by a business firm. Large firms usually utilize this to raise capital for business purposes. 

What are the tips for learning Accountancy quickly?

Specific set of steps that have helped the students for years to develop a fair idea of accountancy and score well in the examination. Some of the tips are as follows – 

• Thoroughly understand every minute-to-minute concept and ideologies of the subject.
• Refer to one of the best study materials, such as DK Goel Solutions, if stuck on any concept or theory.
• Be careful about time management. Monitor how much time you devote to a specific topic.
• Frame notes of each topic for future reference.
• Solve previous five to ten year’s questions.

How does the Accountancy syllabus stress information and technology?

In today’s world, technology plays a crucial role. Therefore, to make the students aware of the information and technology, CBSE adds several chapters related to it in the commerce curriculum.

Some of the chapters are – Introduction to Computers, Introduction to Accounting Information System, Computerised Accounting System, Accounting Software Package – Tally, and many more.

How many sums do the DK Goel Solutions Financial Statements chapter contain?

Financial Statement chapter comprises a total of 18 problems, which are efficiently solved on DK Goel solutions. These solutions help the students to solve value based problems more conveniently and present a ladder to climb up the apex of success in the examinations.