TS Grewal Solutions Class 11 Accountancy Chapter 3 - Accounting Procedures Rules of Debit and Credit

TS Grewal Solutions for Class 11 Accountancy Chapter 3:

TS Grewal Solutions for Class 11 Accountancy Chapter 3- Accounting Procedures Rules of Debit and Credit is a major concept to be considered by the students. Here, we have rendered in a simplistic and a step by step method, which is useful for the students.

Class 11 TS Grewal Solutions Accountancy Chapter 3:-Download PDF Here

Board CBSE
Class Class 11
Subject Accountancy
Chapter Chapter 3
Chapter Name Accounting Procedures Rules of Debit and Credit
Number of questions solved 13
Category TS Grewal

Also Check: Class 11 Accountancy Syllabus

TS Grewal Solutions for Class 11 Accountancy Chapter 3- Accounting Procedures Rules of Debit and Credit

Q.1 Following accounts are being maintained in the books of Shri Ashok. Classify them into Personal, Real and Nominal Accounts:

(i) Land and Building

(ii) Excise Duty

(iii) Creditors

(iv) Capital

(v) Motor Vehicles

(vi) Goodwill

(vii) Investments

(viii) Salary

(ix) Debtors

(x) Bad Debts

(xi) Depreciation

(xii) Wages

(xiii) Repairs

(xiv) Ramesh, a debtor

(xv) Interest Received

(xvi) Bank Overdraft

(xvii) Purchase Returns

(xviii) Drawings

(xix) Freight

(xx) Return Inwards.

Solution:
ts-grewal-solutions-class-11-solutions-chapter-3-accounting-procedures-rules-of-debit-and-credit

Q.2 Classify the following into Assets, Liabilities, Capital, Expenses and Revenue:

(i) Land

(ii) Investments

(iii) Building

(iv) Interest Received

(v) Salary

(vi) Bank Overdraft

(vii) Debtors

(viii) Creditors

(ix) Bad Debts

(x) Capital

(xi) Depreciation

(xii) Motor Vehicles

(xiii) Freight

(xiv) Wages

(xv) Goodwill

(xvi) Repairs

Solution:

s-grewal-accountancy-2021-class-11-solutions-chapter-3-accounting-procedures-rules-of-debit-and-credit-2

 

Q.3 Classify the following into assets, liabilities, capital, revenue, and expenses:

(i) Plant and Machinery

(ii) Bank Loan

(iii) Sales

(iv) Rent

(v) Discount Received

(vi) Carriage Inwards

(vii) Carriage outwards

(viii) Purchases

(ix) Bills Payable

(x) Wages

(xi) Advance Income

(xii) Accrued Income

(xiii) Goodwill

(xiv) Furniture and Fixtures

(xv) Outstanding Expenses

(xvi) Capital

Solution:

ts-grewal-accountancy-2021-class-11-solutions-chapter-3-accounting-procedures-rules-of-debit-and-credit-3

 

Q4. On which side will the increase in the following accounts be recorded? Also, state the nature of the account:

(i) Furniture A/c

(ii) Mohan (proprietor)

(iii) Salary A/c

(iv) Purchases A/c

(v) Sales A/c

(vi) Interest Paid A/c

(vii) Sohan (Creditor)

(viii) Ram (Debtor)

Solution:

TS Grewal Accountancy 2019 Class 11 Solutions Chapter 3 Accounting Procedures Rules Of Debit And Credit -3

Q.5 On which side will the decrease in the following accounts be recorded? Also, state the nature of the account:

(i) Cash

(ii) Bank Overdraft

(iii) Outstanding salary paid

(iv) Outstanding Rent

(v) Prepaid Insurance

(vi) Mohan, Proprietor of the business

Solution:

TS Grewal Accountancy 2019 Class 11 Solutions Chapter 3 Accounting Procedures Rules Of Debit And Credit - 4

Q.6 From the following Transactions, state the nature of account and state which account will be debited and which account credited:

(i) Manu started business with cash – ₹ 1,00,000

(ii) He purchased furniture for business – ₹ 20,000

(iii) Purchase goods on credit from Anshul – ₹ 6,000

(iv) Paid to his creditor, Anshul – ₹ 2,000

(v) Paid salary to his clerk – ₹ 1,000

(vi) Paid Rent – ₹ 500

(vii) Received Interest – ₹ 200

Solution:

TS Grewal Accountancy 2019 Class 11 Solutions Chapter 3 Accounting Procedures Rules Of Debit And Credit- 5

Q.7 Open a ‘T’ shape account for machinery and put the following transactions on the proper side:

(i)  Machinery purchased 40,000
(ii)  Machinery sold 10,000
(iii)  Machinery purchased 8,000
(iv)  Machinery discarded 14,000
(v)  Depreciation on machinery 1,000

Solution:

TS Grewal Accountancy 2019 Class 11 Solutions Chapter 3 Accounting Procedures Rules Of Debit And Credit -6

Q8. Open a ‘T’ shape Cash Account. Put the following transactions on the proper side and balance the account:

(i) Mohan started business with cash – ₹ 40,000

(ii) Purchased Goods – ₹ 20,000

(iii) Sold Goods – ₹ 24,000

(iv) Paid Rent – ₹ 400

(v) Paid salaries – ₹ 600

(vi) Drew for personal use – ₹ 1,000

Solution:

TS Grewal Accountancy 2019 Class 11 Solutions Chapter 3 Accounting Procedures Rules Of Debit And Credit -7

Q.9 Open a ‘T’ shape account of creditor, Rakesh and write the following transactions on the proper side:

(i) Goods purchased from Rakesh on credit – ₹ 50,000

(ii) Goods returned to Rakesh for – ₹ 5,000

(iii) Paid to Rakesh – ₹ 20,000

(iv) Purchase goods from Rakesh on credit – ₹ 10,000

Solution:

TS Grewal Accountancy 2019 Class 11 Solutions Chapter 3 Accounting Procedures Rules Of Debit And Credit -8

Q.10 Open a ‘T’ shape account of debtor ‘Brij’ and write the following transactions on the proper side:

(i) Sold goods to Brij on credit – ₹ 25,000

(ii) Cash received from Brij – ₹ 10,000

Discount allowed to him – ₹ 500

(iii) Goods returned by Brij – ₹ 5,000

Solution:

TS Grewal Accountancy 2019 Class 11 Solutions Chapter 3 Accounting Procedures Rules Of Debit And Credit -9

Q.11 Put the following on the proper side of a Cash Account, a Debtor’s Account and a Creditor’s Account:

(i) Sold goods to Sanjay on credit – ₹ 50,000

(ii) Sold goods to Mohan for cash – ₹ 20,000

(iii) Purchased goods from Ram on credit – ₹ 25,000

(iv) Cash received from Sanjay – ₹ 19,000

(v) Goods returned by Sanjay – ₹ 2,000

(vi) Paid rent – ₹ 500

(vii) Cash paid to Ram – ₹ 15,000

Solution:

TS Grewal Accountancy 2019 Class 11 Solutions Chapter 3 Accounting Procedures Rules Of Debit And Credit -10

Q.12 From the following particulars, prepare the proprietor’s Capital Account:

1st April, 2018 − Commenced business with cash 2,00,000

31st March, 2019 − Net Loss as per Profit and Loss Account 18,000

31st March, 2019 − Drawings during the period 15,000

Balance the same and explain what the closing balance indicates.

Solution:

TS Grewal Accountancy 2019 Class 11 Solutions Chapter 3 Accounting Procedures Rules Of Debit And Credit -11

Q.13 From the following particulars, prepare the proprietor’s Capital Account:

2013
April 1 Started business with 45,000
May 10 Withdrew from business for personal use 10,000
July 15 Further Capital introduced 55,000
Nov. 30 Income tax paid 5,000
 2014
Mar. 31 Profit for the year 30,000

Solution:

TS Grewal Accountancy 2019 Class 11 Solutions Chapter 3 Accounting Procedures Rules Of Debit And Credit -12

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