TS Grewal Accountancy Class 11 Solution Chapter 22 Accounting Software Tally

About this chapter: Tally is a very popular accounting software that is used in India by various small and medium sized businesses. This software has been here for years and helps businesses to maintain financial books and financial statements. It has various other…

TS Grewal Accountancy Class 11 Solution Chapter 21 Computers in Accounting

About the chapter: Computers in Accounting is a very important topic which the students studying Accountancy in Class 11 should study. This chapter talks about various types of technologies which are used in the preparation and management of financial books of accounts by…

TS Grewal Accountancy Class 11 Solution Chapter 20 Accounts from Incomplete Records Single Entry System

About this chapter: As many companies maintain their books of accounts based on cash transactions therefore in order to maintain accurate financial statements it is important to convert single-entry records into double entry records. In this chapter the concept of how to…

TS Grewal Accountancy Class 11 Solution Chapter 19 Adjustments in Preparation of Financial Statements

About this chapter: While maintaining books of accounts there are various types of adjustments that the Accountants have to do on regular basis to make sure the books are complete and accurate. In Chapter 19 of TS Grewal these concepts of passing adjustment entries have…

TS Grewal Accountancy Class 11 Solution Chapter 18 Financial Statements of Sole Proprietorship

About this chapter: Chapter 18 of the TS Grewal Accountancy Class 11 textbook on Financial Statements of Sole Proprietorship is a very important topic from which many questions are regularly asked in exams. Students should understand how the books of accounts of sole…

TS Grewal Accountancy Class 11 Solution Chapter 17 Rectification of Errors

About this chapter: It is possible that while maintaining financial books and passing entries there can be errors done by accountants. These types of errors are classified under various categories such as errors of commission, errors of omission, errors of principle etc.…

TS Grewal Accountancy Class 11 Solution Chapter 16 Accounting for Bills of Exchange

Question.1. Define bill of exchange. What are the features of a Bill of Exchange? Answer  .1   Definition of Bill of Exchange: As per Section 5 of the Negotiable Instruments Act, 1881, "A Bill of Exchange is an instrument in writing containing an unconditional…

TS Grewal Accountancy Class 11 Solution Chapter 15 Provisions and Reserves

Question.1. Explain the terms ‘Reserve’ and ‘Provision’ with examples. Answer .1   Reserves: Reserves are the amounts set aside out of profits. It is an appropriation of profits or accumulated profits to strengthen the financial position of the business. Reserves…

TS Grewal Accountancy Class 11 Solution Chapter 14 Depreciation

Question.1.   What is Depreciation? What is the need for need for providing Depreciation? Describe the two methods of providing Depreciation. Answer   1.     Meaning of Depreciation: Depreciation is the fall in the value of tangible fixed…

TS Grewal Accountancy Class 11 Solution Chapter 13 Trial Balance

TS Grewal Accountancy Class 11 Solution Chapter 13 Trial Balance is an important chapter for students of Class 11 studying accountancy. In this chapter, concepts of Trial Balance have been explained in detail. Students will be able to learn about the trial balance, which is a…

TS Grewal Accountancy Class 11 Solution Chapter 12 Bank Reconciliation Statement

TS Grewal Accountancy Class 11 Chapter 12 on Bank Reconciliation Statement is an important topic in Class 11. In this chapter there are concepts relating to the importance and process of reconciling bank book and bank statement and ensure all variances are identified and…

TS Grewal Accountancy Class 11 Solution Chapter 11 Special Purpose Books II Other Book

Question.1 State most commonly used subsidiary books. Answer 1. Most common subsidiary books are:- 1. Cash book 2. Purchases book 3. Sales book 4. Purchases return or return outwards book 5. Sales return or return inwards book 6. Bills receivable book 7. Bills payable…

TS Grewal Accountancy Class 11 Solution Chapter 10 Special Purpose Books I Cash Book

Question.1. Why is it necessary to sub-divide a Journal? What are its advantages? Answer  1.  It is convenient to maintain a separate book for each such class of transactions-one to record cash transactions, another to record credit purchase of goods and yet…

TS Grewal Accountancy Class 11 Solution Chapter 9 Ledger

Question.1.  What is a Ledger? Answer.1    Meaning of a Ledger: Earlier, we discussed the term Account. In an account, transactions of one nature are posted or summarized. All the accounts put together constitute a 'Ledger'. A Ledger may be defined as a "…

TS Grewal Accountancy Class 11 Solution Chapter 6 Accounting Procedures Rules of Debit and Credit

About this chapter: Chapter number 6 in the Accountancy book for Class 11 written by Mr TS Grewal explains about Accounting Procedures: Rules of Debit and Credit. In this chapter the basic accounting rules of debit and credit has been explained in great detail. This is…