DK Goel Solutions for Accountancy: Comprehensive Guide

DK Goel textbooks are well known among students in the Commerce field. DK Goel Accountancy solutions are great reference material for students in Classes 11 and 12. This is a useful study resource for students preparing for regular exams as well as their board exams since a detailed and comprehensive understanding is required to score good marks. Commerce students can access the material by simply downloading DK Goel Accountancy Solutions PDFs online. These solutions are easy to understand and provide detailed solutions for every chapter. 

How to Score Good Marks in Class 11 and 12 Accountancy Exams?

Students encounter Accountancy for the first time in the 11th standard and it is important to develop a strong foundation in the subject from the beginning. To score good marks in the 11th and 12th standards, students need to have a strong understanding of accounting concepts like making balance sheets, understanding assets and liabilities. The DK Goel Solutions is sure to guide you in your quest for academic excellence.

While studying, it is important to follow your textbook in sequence. Start from the very first chapter as all the other chapters will build on it. If you have difficulty understanding the chapters at the beginning, the following chapters might confuse you. Accounting is a theory-based as well as a practical subject. You must not rote learn Accountancy instead spend time to understand what you’re learning. 

The best way to start is to make a habit of practising Accountancy. After studying a chapter, try to solve questions related to it. If you have a doubt, you can always refer to DK Goel solutions. Students can also solve previous year’s question papers. These are easily available online. Answering question papers will help students understand the topics from which questions are usually asked, question paper pattern, and marks allocation. Remember, there are no shortcuts, you need to practice and study smart. 

Why is it Important to Study Class 11 and 12 Accountancy?

Accountancy is a very important subject when studying Commerce. If you want to become a CA, CMA, or ICWA, it is important to have a strong understanding of Accountancy.  Class 11 Accountancy syllabus is designed to give the student a complete understanding of the subject and helps build a strong foundation in Accountancy which will help them in many professional courses. 

Some of the reasons why a student must learn the subject well is –

1. One of the most obvious reasons why a student must prepare well for Accountancy is so that they pass the exam with flying colours.
2. Having a good knowledge of Accountancy will also pave a student’s way towards a successful career. 
3. The Class 11 and 12 Accountancy curriculum is designed to build a comprehensive understanding of accounting concepts. Hence, studying the syllabus well will prepare students for future advanced courses they may undertake.
4. If you prepare effectively for Class 11 and 12 accountancy, you will be confident in your accounting ability and can grab well-paying and satisfying careers in this field.

Features of the DK Goel Accountancy Solutions

1. The  DK Goel Solutions are available free of cost and students simply need to download them to gain access.
2. The solutions are written in a very clear, straightforward and understandable manner. Even difficult questions are explained in a precise and easy-to-understand way.
3. These solutions are organized in a very hassle-free way for students. It includes detailed solutions to every question in each chapter.
4. The DK Goel Solutions are designed in accordance with the latest CBSE syllabus. Hence, some of these questions might even appear in examinations.
5. These solutions are useful for students, as they can use them while practising as well as when revising for examinations. Students can practice solving questions, and if they face any trouble, they can look through the solutions for detailed answers. 

DK Goel Solutions for Class 11 And 12 Accountancy Chapters Free PDF download 

Here is a brief overview of what is included in the 27 chapters of DK Goel Accountancy Solutions for Class 11.

Chapter 1: Meaning and Objectives of Accounting

This chapter has 23 questions on the conceptual aspects of Accounting. This is followed by 9 questions based on Higher-Order Thinking Skills. Finally, you have 18 value-based questions in the first chapter of DK Goel solutions.

Chapter 2: Basic Accounting Terms

This chapter again includes questions based on thinking skills and value assessment. Students learn about common accounting terms like revenue, asset, expenditure, profit, and so on.

Chapter 3: Accounting Principles

The 3rd chapter in the solution of DK Goel includes questions on accounting statements, equations, characteristics of accounting principles, etc.

Chapter 4: Process and Basis of Accounting

In this chapter, students can read easy answers to questions about the accounting process, the accrual basis of accounting, etc.

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

Chapter 5 of DK Goel Accountancy contains details about the nature, advantages, and objectives of international accounting standards.

Chapter 6: Accounting Equations

This chapter provides easy solutions to numerical questions on accounting equations.

Chapter 7: Double Entry System

The 7th chapter in the DK Goel Accountancy Solutions for Class 11 contains solutions on accounting methods, account types, etc.

Chapter 8: Origin of Transactions: Source Documents of Accountancy

This chapter gives you answers on accountancy documents like source documents, vouchers, cheques, invoices, etc.

Chapter 9: Books of Original Entry - Journal

In Chapter 9 of DK Goel Accountancy Solutions, you have questions and answers on the process of recording financial transactions.

Chapter 10: Accounting for Goods and Services Tax (GST)

Solutions in this chapter are on the new tax regime, GST (including CGST, SGST, IGST).

Chapter 11: Books of Original Entry- Cash Book

Chapter 11 of the Accountancy DK Goel Solution contains numerical solutions on cash book posting of transactions.

Chapter 12: Books of Original Entry - Special Purpose Subsidiary Books

Chapter 12 includes numerical sums and solutions on subsidiary book posting of transactions.

Chapter 13: Ledger

This chapter also carries numerical solutions. These are based on journal and ledger posting of transactions.

Chapter 14: Trial Balance and Errors

Chapter 14 of DK Goel Accountancy Solutions teaches the meaning of trial balance, the error of commission, compensating error, errors of principle, and so on. It is followed by numerical sums on the trial balance.

Chapter 15: Bank Reconciliation Statement

This chapter includes sums and solutions on bank reconciliation statements of firms.

Chapter 16: Depreciation

The 16th chapter in DK Goel Accountancy Solutions teaches how to calculate depreciation after finding out the ledger postings of a transaction.

Chapter 17: Provisions and Reserves

In Accountancy Chapter 17, Class 11 students learn the meaning of provisions, reserves, capital reserves, revenue reserves, dividend equalization reserve, etc.

Chapter 18: Bills of Exchange

Chapter 18 of DK Goel Accountancy Solutions gives solutions to questions on due date calculation, discounting charges, etc.

Chapter 19: Rectification of Errors

Here, students learn about simple solutions on how to rectify journal entries.

Chapter 20: Capital and Revenue

This lesson provides easy-to-understand answers on revenue expenditure and capital expenditure. This is followed by practice sums on the same.

Chapter 21: Financial Statements

In this chapter of DK Goel Accountancy Solutions, students learn how to calculate the cost of goods sold, gross profit, closing stock, net sales, etc.

Chapter 22: Financial Statements - With Adjustments

Here you will find detailed solutions to sums based on adjusted financial statements of a company.

Chapter 23: Accounts from Incomplete Records

Chapter 23 includes numerical problems and their solutions based on accounts from incomplete records of any firm.

Chapter 24: Introduction to Computers

Chapter 24 of DK Goel solutions details the computer's definition, its key components, hardware, software, computer system, and so on.

Chapter 25: Introduction to Accounting Information System

Here, the solutions are based on the purpose and mechanism of the accounting information system.

Chapter 26: Computerised Accounting System

Chapter 26 of DK Goel Accounting solutions discusses manual accounting, computerized accounting, and their differences.

Chapter 27: Accounting Software Package - Tally

The last chapter of DK Goel solutions teaches about tally software and its uses.

Chapters Included in the DK Goel Accountancy Solutions for Class 12

Here are some of the chapters included in Volume 1 of DK Goel Class 12 accountancy solutions:

Chapter 1: Accounting for Partnership Firms- Fundamentals

This chapter includes numerical solutions on profit-sharing and interest on net drawings.

Chapter 2: Changes in Profit Sharing Ratio Among the Existing Partners

Here, through the appropriate solutions, students learn how a change in the profit-sharing ratio impacts the profit of a partner.

Chapter 3: Admission of a Partner

Chapter 3 of DK Goel Accountancy solutions shows how the admission of a new partner can affect the profit-sharing ratio and the sacrificing ratio of existing partners.

Chapter 4: Retirement or Death of a Partner

This chapter deals with how the death, withdrawal, or retirement of a partner can impact the shares of other partners.

Chapter 5: Dissolution of a Partnership Firm

The last chapter details the consequences of firm dissolution on a partnership contract.

Chapter-Wise Brief of DK Goel Accountancy Solutions for Class 12 Volume 2:

Chapter 1: Financial Statements of Companies

Here, you learn how to calculate the reserves and surplus of a company’s funds.

Chapter 2: Financial Statements Analysis

In this chapter of DK Goel accountancy solutions, students learn objectives, importance, uses, etc. of financial analysis.

Chapter 3: Tools for Financial Analysis: Comparative Statements

Here, students will learn everything about comparative balance sheets.

Chapter 4: Common Size Statements

You learn about a common size balance sheet and how to solve sums on them.

Chapter 5: Accounting Ratios

Accounting ratios like current ratio, quick ratio, etc. are discussed here.

Chapter 6: Cash Flow Statement

You get to understand the different categories of activities concerning cash flow statements in the last chapter of Class 12 DK Goel Accountancy Solutions.