TS Grewal Solutions for Class 11 Accountancy Chapter 9 – Special Purpose Books I – Cash Book

Question 1.

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Question 2.

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Question 3.

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Question 4.

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Question 5.

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Question 6.
Record the following transactions in a suitable Cash Book and find out the cash and bank balances:
i. Commenced business with cash Rs.50,000.
ii. Deposited in bank Rs.40,000.
iii. Received cash from Mohan Rs.950.
iv. Bought goods for cash Rs.10,000.
v. Bought goods by cheque Rs.15,000.
vi. Sold goods by cheque for Rs.20,000 and deposited in bank on the same day.
vii. Paid to Arun by cheque Rs.1,900.
viii. Drew from bank for office use Rs.1,000.
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Question 7.

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Question 8.

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Question 9.

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Question 10.

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Question 11.

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Question 12.

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Question 13.

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Question 14.

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Question 15.

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Question 16.

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Question 17.

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Question 18.

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Question 19.

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Question 20.

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Question 21.

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Question 22.

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Question 23.

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Question 24.

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Question 25.

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Question 26.

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Question 27.

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Question 28.

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Question 29.

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Question 30.

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Question 31.

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TS Grewal Solutions for Class 11 Accountancy Chapter 8 – Journal and Ledger

Question 1.

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Question 2.

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Question 3.

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Question 4.

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Question 5.

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Question 6.

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Question 7.

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Question 8.

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Question 9.

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Question 10.
Journalise the following transactions :
i. Paid Rs.2,000 in cash as wages on installation of a machine.
ii. Sold goods to Manohar, list price Rs.4,000, Trade Discount 10% and cash Discount 5% he paid the amount on the same day and availed the cash discount.
iii. Received as order from Shyam for supply of goods of the list price Rs.1,00,000 with an advance of 10% of list price.
iv. Received commission Rs.5,000 half of which is in advance.
v. Rajanikant is declared insolvent. A final compensation of 25 paise in the rupee is received from his estate out of Rs.5,000.
vi. Cash embezzled by an employee Rs.1,000.
Solution:

Question 11.
Journalise the following :
i. Isha invested Rs.2,00,000 in business.
ii. Opened a current account in bank Rs.1,20,000.
iii. Purchased goods for Rs.60,000 and paid Rs.2,000 for arrange.
iv. Purchased goods for Rs.1,00,000 from Rashmi.
Solution:

Question 12.
Journalise the following transactions in the books of Akash :
i. Goods given as charity Rs.5,000.
ii. Salary for the month is outstanding Rs.2,000.
iii. Goods sold for a list price of Rs.50,000; trade discount allowed 10%, cash discount allowed 10%.
Solution:

Question 13.
Give journal entries for the following transactions giving in each case the nature of account (whether asset, liability, capital, expenses or revenue) and the rule applicable:
i. Ajit started business by investing cash Rs.50,00,000. He bought goods old Rs.4,00,000 and furniture of Rs.5,00,000.
ii. Purchased building for Rs.10,00,000.
iii. Purchased goods for cash Rs.3,00,000.
iv. Purchased goods on credit from Chandler Rs.25,000.
v. Paid cartage Rs.2,000.
vi. Sold goods for cash Rs.2,55,000.
vii. Sold goods for cash to Rs.24,000.
viii. Sold goods to Mahendra on credit Rs.46,500.
ix. Cash withdrawn by Ajit for personal use Rs.5,000.
Solution:

Question 14.
Journalise the following transactions :
i. Deposited cash into bank Rs.80,000.
ii. Paid salary Rs.46,000.
iii. Withdrew from the bank Rs.50,000 for office use.
iv. Withdrew from the bank Rs.30, 000 for private use.
v. Charged interest on capital Rs.1,25,000.
vi. Mahendra became insolvent. Only Rs.30,000 could be realised from him.
Solution:

Question 15.
Journalise the following transactions:
i. Tarun introduced capital by cheque Rs.25,000.
ii. Purchased goods for Rs.20,000 and availed discount Rs.1,000.
iii. Sold goods to Puneet for Rs.5,000.
iv. Puneet paid cash and availed discount Rs.100
Solution:

Question 16.
Journalise the following transactions:
Gaurav commenced business by introducing capital in cash Rs.21,000 and by cheque Rs.50,000.
Gaurav purchased goods from Saurab for Rs.30,000 and Saurab allowed him Trade Discount of Rs.3,000.
He sold goods to Ramesh against cash Rs.20,000 and allowed him Cash Discount of Rs.400.
Paid salary to Suresh Rs.3,000.
Solution:

Question 17.
Journalise the following transactions:
Rajan commenced business by introducing capital in cash Rs.11,000 and by cheque Rs.1,50,000.
Purchased car for Rs.3,00,000 by taking loan of Rs.2,50.000 from bank.
Purchased goods for Rs.1,00,000 and availed Trade Discount of Rs.10,000.
Paid Rs.5,000 to bank as installment, Rs.2,000 towards principal and Rs.3,000 as interest.
Solution:

Question 18.
Journalise the following transactions in the books of Ajay:
Ajay returned goods purchased from Manoj Rs.22,000. He had availed Trade Discount of Rs.2,200 on the goods returned.
Ajay received Rs.5,000 from Abhay which he had earlier written off as Bad Debts.
A fire occurred in the godown of Ajay and he lost goods worth Rs.10,000. The stock was not insured.
Ajay took goods worth Rs.2,500 (Cost) for his personal use.
Solution:

Question 19.
Journalise the following transactions in our books:
i. Amount due from Sushil Rs.2,000 is not recoverable.
ii. Goods purchased for Rs.1,000 given as charity.
iii. Cheque of Jatinder of Rs.10,000 deposited, returned unpaid.
iv. Bank charges charged by bank Rs.250.
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Question 20.

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Question 21.
Journalise the following entries:
Goods worth Rs.500 given as charity.
Received Rs.975 from Harikrishna in full settlement of his account for Rs.1,000.
Received a first and final dividend of 60 paise in a rupee from the Official Receive Rajan, who owed us Rs.1,000.
Charged depreciation on plant Rs.1,000.
Solution:

Question 22.
Journalise the following transactions with narration:
i. Paid Income Tax Rs.3,000.
ii. Interest on Capital Rs.300.
iii. Goods worth Rs.500 given as charity.
Solution:

Question 23.
Journalise the following:
i. Goods worth Rs.500 were used by the proprietor for domestic purposes.
ii. Goods uninsured worth Rs.3,000 were destroyed by fire.
iii. Paid Rs.250 as wages on installation of a new machine.
iv. Supplied goods costing Rs.600 to Mohan issued at 10% above cost less 5% Trade Discount.
Solution:

Question 24.
Journalise the following transactions:
Goods destroyed by fire Rs.500.
Paid Rs.2,500 in cash as wages on installation of a machinery.
Issued a cheque in favour of M/s. Parmatma Singh and Sons on account of purchase goods worth Rs.7,500.
Goods sold costingRs.6,000 to M/s Kalu Sons at an invoice price 25% above cost less 5% Trade Discount.
Solution:

Question 25.
Prepare the journal from the transactions given below:
i. Rent outstanding Rs.5,000.
ii. Received interest on loan from the debtor Rs.25,000.
iii. Provided interest on capital (Rs.50,000) at 6% for six months.
iv. Received Rs.780 from Surinder in full settlement of debt to his account for Rs.800.
Solution:

Question 26.
At the end of an accounting year, a trader finds that no entry has been passed in the books of account in respect of the following transactions:

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Question 27.
Journalise the following transactions in the books of Harpreet Bros:
i. Goods worth Rs.50,000 and Cash Rs.20,000 were stolen by an employee.
ii. Goods costingRs.10,000 were returned to Ram Bros. as the goods were hazardous for the health of the consumers.
Also give value affected in each of the above case.
Solution:

Question 28.
Journalise the following:
i. Received a cheque from J. Peterson Rs.5,450. Allowed him discount of Rs.150.
ii. Returned goods to Sudershan of the value of Rs.350.
iii. Issued a cheque in flavor of M/s Karanvir Timber Company on account of the purchase of timber worth Rs.7,500.
iv. Paid Rs.250 in cash as wages on installation of a machine.
Solution:

Question 29.
Journalise the following transactions in the books of M/s. Hari Ram:
i. Rahul who owned Rs.5,000 was declared insolvent and 60 paise in a rupee are received as final compensation.
ii. Out of insurance paid this year, Rs.3,000 is related to next year.
iii. Provide depreciation @10% on furniture costing Rs.10,000 for 9 months.
Solution:

Question 30.
Journalise the following transactions:
i. Paid customs duty Rs.11,000 in cash on import of a new machinery.
ii. Goods sold costing Rs.10,000 to M/s Abbas and sons at an invoice price 10% above cost less 10% trade discount.
Solution:

Question 31.
Journalise the following transactions in the books of Gaurav:
i. Received Rs.9,500 from Sohan in full settlement of his account for Rs.10,000.
ii. Received Rs.9,500 from Shyam on his account for Rs.10,000.
iii. Paid Rs.4,800 to Mohan in full settlement of his account for Rs.5,000.
iv. Paid Rs.4,800 to Ashok on his account for Rs.5,000.
Solution:

Question 32.
Journalise the following transactions in the books of Manoj Store:
i. Purchased goods from Ramesh Rs.20,000 less trade discount at 20% plus VAT @10%
ii. Sold goods costing Rs.7,000 to Krishna for Rs.9,000 plus VAT @10%
iii. Sold goods for Rs.10,000 and charged VAT @10% against cheque.
iv. VAT was deposited into government account on due date.
Solution:

Question 33.
Journalise the following transactions :
i. Paid Rs.2,500 in cash as wages on installation of a machine.
ii. Sold goods to kitty at a list price of Rs.20,000. Sales subject to 10% trade discount and 5% cash discount if payment is made immediately. Kitty availed cash discount.
iii. Supplied goods costing Rs.60,000 to Shyam. Issued invoice at 10% above cost less 5% trade discount.
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Question 34.

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Question 35.

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Question 36.

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Question 37.

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Question 38.

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Question 39.

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Question 40.

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Question 41.

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Question 42.

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Origin of Transactions – Source Documents and Preparation of Voucher

TS Grewal Solutions for Class 11 Accountancy Chapter 6 – Accounting Procedures – Rules of Debit and Credit

Question 1.
Following accounts are being maintained in the books of Shri Ashok. Classify them under Assets, Liabilities, Expenses and Revenue Accounts.
(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:

Question 2.
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:

Question 3.
On which side will be the increase in the following accounts recorded? Also, mention 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:

Question 4.
On which side will be the decrease in the following accounts recorded? Also, mention 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:

Question 5.
Following is the list of various accounts. Find out which are Assets, Liabilities, Capital, Revenue or Expense Accounts:
i. Machinery
ii. Bank
iii. Sales
iv. Purchases
v. Unsold Stock
vi. Bank Overdraft
vii. Ram (Customer)
viii. Cash
ix. Interest Received
x. Mohan (Proprietor)
Solution:

Question 6.
You are given a number of accounts below. State which of them will show a debit balance and which a credit balance:
i. Carriage
ii. Machinery
iii. Sales
iv. Cash
v. Ram (Customer)
vi. Sales Return
vii. Purchases
viii. Bad Debts
ix. Discount Allowed
x. Rent
xi. Commission Received
xii. Capital
xiii. Repairs
xiv. Purchases Return
Solution:

Question 7.
Put the following transactions on the proper side of an Interest Account:
i. Interest earned Rs.2,000
ii. Interest paid Rs.1,000
iii. Interest due Rs.500
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Question 8.

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Question 9.

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Question 10.

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Question 11.

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Question 12.
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Question 13.

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Question 14.

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Question 15.

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TS Grewal Solutions for Class 11 Accountancy Chapter 5 – Accounting Equation

Question 1.

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Question 2.

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Question 3.

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Question 4.
What will be the effect of the following on the Accounting Equation?
i. Harish started business with cash Rs.18,000
ii. Purchased goods for cash 5,000 and on credit Rs.2,000
iii. Sold goods for cash Rs.4,000 (costing Rs.2,400)
iv. Rent paid Rs.1,000 and rent outstanding Rs.200
(Delhi 1998)
Solution:

Question 5.
Prepare Accounting Equation from the following:
i. Started business with cash Rs.1,00,000 and Goods Rs.20,000.
ii. Sold goods worth Rs.10,000 for cash Rs.12,000.
iii. Purchased furniture on credit for Rs.30,000.
(Delhi 2011)
Solution:

Question 6.
Prepare an Accounting Equation and Balance Sheet on the following basis:
i. Ajeet started business with cash Rs.20,000.
ii. He purchased furniture for Rs.2,000.
iii. He paid rent of Rs.200.
iv. He purchased goods on credit Rs.3,000.
v. He sold goods (cost price Rs.2,000) for Rs.5,000 on cash.
Solution:

Question 7.
Prepare an Accounting Equation from the following:
i. Started business with cash Rs.1,00,000.
ii. Purchased goods for cash Rs.20,000 and on credit Rs.30,000.
iii. Sold goods for cash costing Rs.10,000 and on credit costing Rs.15,000 both at a profit of 20%.
(Delhi 2010)
Solution:

Question 8.

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Question 9.

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Question 10.
Prove that the Accounting Equation is satisfied in all the following transactions of Suresh. Also prepare a Balance sheet.
i. Commenced business with cash Rs.60,000.
ii. Paid rent in advance Rs.500.
iii. Purchased goods for cash Rs.30,000 and credit Rs.20,000.
iv. Sold goods for cash Rs.30,000 costing Rs.20,000.
v. Paid salary 500 and salary outstanding being Rs.100
vi. Bought motorcycle for personal use Rs.5,000.
Solution:

Question 11.
Show the effect of the following transactions on assets, liabilities and capital using the Accounting Equation. Also prepare a Balance sheet:
i. Started business with cash Rs.60,000
ii. Rent received Rs.2,000
iii. Accrued interest Rs.500
iv. Commission received in advance Rs.1,000
v. Amount withdrawn Rs.5,000
[Hint : Capital = Opening Capital Rs.60,000 + Rent Received Rs.2,000 + Accrued Interest Rs.500 – Drawings Rs.5,000 = Rs.57,500]
Solution:

Question 12.
Prove that the Accounting Equation is satisfied in all the following transactions of Sameer Goel :
(i) Started business with cash Rs.10,000.
(ii) Paid rent in advance Rs.300.
(iii) Purchased goods for cash 5,000 and credit Rs.2,000.
(iv) Sold goods for cash Rs.8,000 costing Rs.4,000.
(v) Paid salary Rs.450 and salary outstanding being Rs.100.
(vi) Bought motorcycle for personal use Rs.3,000.
(KVS 1997)
Solution:

Question 13.
Show the Accounting Equation on the basis of the following transactions and present a Balance sheet on the last new equation balance:

Solution:


Question 14.
Raghunath had the following transaction in an accounting year:
i. Commenced business with cash Rs.50,000.
ii. Paid into bank Rs.10,000.
iii. Purchased goods for cash Rs.20,000 and credit Rs.30,000.
iv. Sold goods for cash Rs.40,000 costing Rs.30,000.
v. Rent paid Rs.500.
vi. Rent outstanding Rs.100.
vii. Bought furniture Rs.5,000 on credit.
viii. Bought refrigerator for personal use Rs.5,000.
ix. Purchased motorcycle for cash Rs.20,000.
Create an Accounting Equation to show the effect of the above transactions on his assets, liabilities and capital and also show his final Balance sheet.
Solution:


Question 15.
Prepare an Accounting Equation from the following:
i. Started business with cash Rs.50,000 and goods Rs.30,000.
ii. Purchased goods for cash 30,000 and on credit from Karan Rs.20,000.
iii. Goods costing Rs.40,000 were sold for Rs.55,000.
iv. Withdraw cash for personal use Rs.10,000.
v. Rent outstanding Rs.2,000.
(MSE Chandigarh)
Solution:

Question 16.
Show an Accounting Equation on the basis of the following transactions:
i. D. Mahapatra commenced business with cash Rs.1,50,000; goods Rs.60,000; machinery Rs.1,00,000 and furniture Rs.50,000.
ii. 1/3rd of the above goods sold at a profit of 10% on cost and half of the payment is received in cash.
iii. Depreciation on machinery provided @10%.
iv. Cash withdrawn for personal use 10,000.
v. Interest on drawings charged @5%.
vi. Goods sold to Gupta for Rs.10,000 and received a Bill Receivable for the same amount for 3 months.
vii. Received Rs.10,000 from Gupta against the Bills Receivable on its maturity.
[Hints:
1. Opening Capital Rs.3,60,000 = Cash Rs.1,50,000 + Stock Rs.60,000 + Machinery Rs.1,00,000 + Furniture Rs.50,000
2. Liabilities: Nil]
Solution:

Question 17.

Solution:

Question 18.
Create an Accounting Equation on the basis of the following transactions:
i. Commenced business with cash Rs.50,000, goods Rs.30,000 and furniture Rs.20,000.
ii. Sold goods to Ajay on credit costing Rs.4,000 for Rs.5,000.
iii. Sold goods for cash costing Rs.12,000 for Rs.16,000.
iv. Purchased goods for cash Rs.40,000.
v. Purchased goods on credit for Rs.20,000.
vi. Paid rent Rs.3,000 including Rs.2,000 in advance.
vii. Paid salaries Rs.2000.
viii. Sold goods costing Rs.8,000 for Rs.10,000.
ix. Salaries outstanding Rs.1,000.
x. Charge depreciation on furniture Rs.500.
Solution:


Question 19.
Prepare Accounting Equation from the following:
a. Started business with cash Rs.1,00,000.
b. Purchased goods for cash Rs.20,000 and on credit Rs.30,000.
c. Sold goods for cash costing Rs.10,000 and on credit costing Rs.15,000 both at profit of 20%.
d. Paid salaries Rs.8,000.
[Delhi 2012]
Solution:

Question 20.
Show the accounting equation on the basis of following transactions:
a. Ram started business with Rs.25,000.
b. Purchased goods from Shyam Rs.10,000.
c. Sold goods to Sohan costing Rs.1,500 for Rs.1,800.
[MSE Chandigarh 2015]
Solution:

Question 21.
If the capital of a business is Rs.3,00,000 and liabilities are Rs.50,000, loss 70,000, calculate the total assets of the business.
Solution:

Question 22.
If total assets of a business are Rs.1,30,000 and net worth is Rs.80,000, calculate the creditors.
[Hint: Net worth = Assets – Liabilities]
Solution:

Question 23.
A commenced his cloth business on 1^st April 2014 with a capital of Rs.30,000. On 31^st March 2015, his assets were worth Rs.50,000 and liabilities of Rs.10,000. Find out his closing capital and profits earned during the year.
Solution:

Question 24.
If capital of a business is Rs.1,40,000 and liabilities are of Rs.80,000, calculate the total assets of the business.
Solution:

Question 25.
Calculate the total assets if:
i. Capital is Rs.40,000.
ii. Creditors are Rs.25,000.
iii. Revenue during the period is Rs.50,000.
iv. Expenses during the period are Rs.40,000.
(Delhi 2001)
Solution:

Question 26.
a. A had a capital of Rs.75,000 on 1st April 2015. He had also goods amounting to Rs.15,000 which he had purchased on credit and the payment had not been made. Find out the value of the total assets of the business.
b. After a period of one month, he came to know that he had suffered a loss of Rs.1,700. He withdrew Rs.800 for his personal use. Find out his capital and assets of the business.
Solution:

Question 27.
a. Mohan started a business on 1^st April 2014 with a capital of Rs.10,000 and borrowed Rs.3,000 from a friend. He earned a profit ofRs.5,000 during the year ended 31^st march, 2013 and withdrew cash Rs.4,000 for private use. What is his capital on 31^st March, 2015?
b. Mahesh started a business with capital of Rs.15,000 on 1^st April, 2014. During the year he made a profit of Rs.3,000. He owes Rs.2,500 to suppliers of goods. What is the total of assets in his business on 31^st March, 2015?
Solution:

Question 28.
Mohan stared a business on 1^st April 2014 with a capital of Rs.25,000 and a loan of Rs.12,500 borrowed from Shyam. During 2014-15 he had introduced additional capital of Rs.12,500 and had withdrew Rs.7,500 for personal use. On 31^st March 2015 his assets were Rs.75,000. Find out his capital as on 31^st March,2015 and profit made or loss incurred during the year 2014 – 15.
Solution:

Question 29.
On 31^st March, 2015, the total assets and external liabilities were Rs.2,00,000 and Rs.6,000 respectively. During the year, the proprietor had introduced capital of Rs.20,000 and withdrawn Rs.12,000 for personal use. He made a profit of Rs.20,000 during the year.
Calculate the capital as on 1^st April, 2014.
Solution: