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

Read TS Grewal Accountancy Class 11 Solution Chapter 3 Accounting Procedures Rules of Debit and Credit below, students should study TS Grewal class 11 Accountancy available on Studiestoday.com with solved questions and answers. These chapter wise answers for class 11 Accountancy have been prepared by teacher of Grade 11. These TS Grewal class 11 Solutions have been designed as per the latest NCERT syllabus for class 11 and if practiced thoroughly can help you to score good marks in standard 11 Accountancy class tests and examinations

Page No. 6.15:

Question 1:

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

(i) Land and Building 

(vii) Investments

(xiv) Ramesh, a debtor 

(ii) Excise Duty

(viii) Salary

(xv)  Interest Received

(iii) Creditors

(ix) Debtors

(xvi)  Bank Overdraft

(iv) Capital  

(x) Bad Debts

(xvii)  Purchase Returns

(v) Motor Vehicles

(xi) Depreciation 

(xviii) Drawings

(vi) Goodwill

(xii) Wages 

(xix) Freight

 

(xiii) Repairs 

(xx) Return Inwards.

Answer 1:

Nominal A/c

Personal A/c

Real A/c

Bad Debts

Bank Overdraft

Goodwill

Depreciation

Capital

Investments

Excise Duty

Creditors

Land & Building

Freight

Debtors

Motor Vehicles

Interest Received

Drawings

 

Purchase Returns

Ramesh, a debtor

 

Repair

  

Return Inwards

  

Salary

  

Wages

  

 

Question 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    


Answer 2:

S.no.

Assets

Nature

1

Land

Assets

2

Investments

Assets

3

Building

Assets

4

Interest Received

Revenue

5

Salary

Expenses

6

Bank Overdraft

Liabilities

7

Debtors

Assets

8

Creditors

Liabilities

9

Bad Debts

Expenses

10

Capital

Capital

11

Depreciation

Expenses

12

Motor Vehicles

Assets

13

Freight

Expenses

14

Wages

Expenses

15

Goodwill

Assets

16

Repairs

Expenses

 

Question 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


Answer 3:

S.no.

Assets

Nature

1

Plant and Machinery

Assets

2

Bank Loan

Liabilities

3

Sales

Revenue

4

Rent

Expenses

5

Discount Received

Revenue

6

Carriage Inwards

Expenses

7

Carriage Outwards

Expenses

8

Purchases

Expenses

9

Bills Payable

Liabilities

10

Wages

Expenses

11

Advance Income

Liabilities

12

Accrued Income

Assets

13

Goodwill

Assets

14

Furniture and Fixtures

Assets

15

Outstanding Expenses

Liabilities

16

Capital

Capital


Page No 6.16:

Question 4:

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) 

Answer 4:

Name of Accounts

Side Increased   

Nature of Account

Type of Account

(i)

Furniture A/c

Debit

Assets

Real A/c

(ii)

Mohan (Proprietor) A/c

Credit

Capital

Personal A/c

(iii)

Salary A/c

Debit

Expense

Nominal A/c

(iv)

Purchases A/c

Debit

Expense

Nominal A/c

(v)

Sales A/c

Credit

Revenue

Nominal A/c

(vi)

Interest Paid A/c

Debit

Expense

Nominal A/c

(vii)

Sohan (Creditor) A/c

Credit

Liabilities

Personal A/c

(viii)

Ram (Debtor) A/c

Debit

Assets

Personal A/c


Question 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 

 

Answer 5:

Name of Accounts

Side decrease

Nature of Account

Type of Account

(i)

Cash

Credit

Assets

Real A/c

(ii)

Bank Overdraft

Debit

Liability

Personal A/c

(iii)

Outstanding Salary Paid

Debit

Liability

Personal A/c

(iv)

Outstanding Rent

Debit

Liability

Personal A/c

(v)

Prepaid Insurance

Credit

Asset

Personal A/c

(vi)

Mohan, proprietor of the business

Debit

Capital

Real A/c


Question 6:

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

 

 

Rs.

(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


Answer 6:

Transactions

Nature of Account

Debit

Credit

Manu started business with cash

Cash A/c

Capital A/c

He purchased furniture for business

Furniture A/c

Cash A/c

Purchased goods on credit from Anshul

Purchases A/c

Creditor A/c

Paid to his creditor, Anshul

Creditor A/c

Cash A/c

Paid salary to his clerk

Salary A/c

Cash A/c

Paid rent

Rent A/c

Cash A/c

Received interest

Cash A/c

Interest A/c


Page No 6.17:

Question 7:

Analyse the following transactions, state the nature of accounts and state which account will be debited and which account credited:

S.No

Particulars

Rs.

(i)

 Lal started business with cash

3,00,000

(ii)

 Purchased furniture for cash from Shanti Furniture House

75,000

(iii)

 Purchase goods for cash

55,000

(iv)

 Sold goods for cash to Pal

35,000

(v)

 Sold goods to Om on credit

60,000

(vi)

 Deposited cash in bank for opening an account

70,000

(vii)

 Received a cheque from Om

20,000

(viii)

 Deposited Om's cheque the next day

 -

(ix)

 Borrowed from Sohan

1,00,000

(x)

 Purchased furniture from Haryana safe

50,000

(xi)

 Paid interest on loan

10,000

(xii)

 Paid rent by cheque

4,000

(xiii)

 Paid salary to staff

14,000

(xiv)

 Withdraw cash for personal use

5,000


Answer 7:

Transactions

Nature of Account

Debit

Credit

Lal started business with cash

Cash A/c

Capital A/c

Purchased furniture for cash from Shanti Furniture House

Furniture A/c

Cash A/c

Purchased goods for cash

Purchase A/c

Cash A/c

Sold goods for cash to Pal

Cash A/c

Sales A/c

Sold goods to Om on credit

Om A/c

Sales A/c

Deposited cash in bank for opening an account

Bank A/c

Cash A/c

Received a cheque from Om

Since no transaction has been made, no entry will be passed.

Deposited Om’s cheque the next day

Bank A/c

Om A/c

Borrowed from Sohan

Cash A/c

Sohan’s A/c

Purchased furniture from Haryana Safe

Furniture A/c

Haryana Safe A/c

Paid interest on loan

Interest on loan A/c

Cash A/c

Paid rent by cheque

Rent A/c

Bank A/c

Paid salary to staff

Salary A/c

Cash A/c

Withdrew cash for personal use

Drawing A/c

Cash A/c

 

Question 8:

Open a 'T' shape account for machinery and put the following transactions on the proper side:

 

 

Rs.

(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

 

 

 


Answer 8:

Machinery Account

Dr.

 

Cr.

Date

Particulars

Amount

(Rs.)

Particulars

Amount

(Rs.)

 

To Bank A/c

40,000

By Bank A/c

10,000

 

To Bank A/c

8,000

By Bank A/c

14,000

 

 

 

By Depreciation

1,000

 

 

 

By Balance c/d

23,000

 

 

48,000

 

48,000

 

 

 

 

 

       


Note: - Machinery Discarded Means – It is sold for cash before it is fully depreciated.

Journal Entry for the Transaction.

Bank A/c Dr.14,000

To Machinery A/c14,000

Question 9:

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

 

 

Rs.

(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


Answer 9:

Cash Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs.)

Date

Particulars

J.F.

Amount

(Rs.)

 

To Capital a/c

 

40,000

 

By Purchases a/c

 

20,000

 

To Sales a/c

 

24,000

 

By Rent a/c

 

400

 

 

 

 

 

By Salaries a/c

 

600

 

 

 

 

 

By Drawings a/c

 

1,000

 

 

 

 

 

By Balance c/d

 

42,000

 

 

 

64,000

 

 

 

64,000

 

 

 

 

 

 

 

 

          

 

Question 10:

Open a 'T' shape account of creditor, 'Rakesh' and write the following transactions on the proper side:

 

 

Rs.

(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


Answer 10:

Rakesh’s Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs.)

Date

Particulars

J.F.

Amount

(Rs.)

 

To Purchases Return a/c

 

5,000

 

By Purchases a/c

 

50,000

 

To Cash a/c

 

20,000

 

By Purchases a/c

 

10,000

 

To Balance c/d

 

35,000

 

 

 

 

 

 

 

60,000

 

 

 

60,000

 

 

 

 

 

 

 

 

 

Page No 6.18:

Question 11:

Open a 'T' shape account of debtor 'Brij' and write the following transactions on the proper side:

 

 

Rs.

(i)

Sold goods to Brij on credit

25,000

(ii)

Cash received from Brij
Discount allowed to him

10,000

500

(iii)

Goods returned by Brij

5,000


Answer 11:

Brij’s (Debtors) Accounts  

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs.)

Date

Particulars

J.F.

Amount

(Rs.)

 

To Sales a/c

 

25,000

 

By Cash a/c

 

10,000

 

 

 

 

 

By Discount Received a/c

 

500

 

 

 

 

 

By Sales Return a/c

 

5,000

 

 

 

 

 

By Balance c/d

 

9,500

 

 

 

25,000

 

 

 

25,000

 

 

 

 

 

 

 

 


Question
12:

Put the following on the proper side of a Cash Account, a Debtor's Account and a Creditor's Account :

 

 

Rs.

(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


Answer 12
:

Cash Account  

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs.)

Date

Particulars

J.F.

Amount

(Rs.)

 

To Sales a/c

 

20,000

 

By Rent a/c

 

500

 

To Sanjay a/c

 

19,000

 

By Ram a/c

 

15,000

 

 

 

 

 

By Balance c/d

 

23,500

 

 

 

39,000

 

 

 

39,000

 

 

 

 

 

 

 

 

          



Sanjay’s (Debtors) Accounts

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs.)

Date

Particulars

J.F.

Amount

(Rs.)

 

To Sales

 

50,000

 

By Cash a/c

 

19,000

 

 

 

 

 

By Sales Return a/c

 

2,000

 

 

 

 

 

By Balance c/d

 

29,000

 

 

 

50,000

 

 

 

50,000

 

 

 

 

 

 

 

 

          



Ram’s (Creditors) Accounts   

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs.)

Date

Particulars

J.F.

Amount

(Rs.)

 

To Cash a/c

 

15,000

 

By Purchase a/c

 

25,000

 

To Balance c/d

 

10,000

 

 

 

 

 

 

 

25,000

 

 

 

25,000

 

 

 

 

 

 

 

 

          


Question 13:

From the following particulars, prepare the proprietor's Capital Account:

 

Rs.

1st April, 2017——Commenced business with cash

2,00,000

31st March, 2018——Net Loss as per Profit and Loss Account

18,000

31st March, 2018——Drawings during the period

15,000

Balance the same and explain what the closing balance indicates.

Answer 13:

Capital Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs.)

Date

Particulars

J.F.

Amount

(Rs.)

2018

 

 

 

2017

 

 

 

March 31

To Profit and Loss A/c

(Loss)

 

18,000

April 01

By Cash

 

2,00,000

March 31

To Drawings

 

15,000

 

 

 

 

March 31

To Balance c/d

 

1,67,000

 

 

 

 

 

 

 

2,00,000

 

 

 

2,00,000

 

 

 

 

 

 

 

 

         

As per the calculation Capital Balance as on 31st March, 2018 should be Rs.1,67,000 but the answer given in the text book is Rs. 16,700.

Question 14:

From the following particulars, prepare the proprietor's Capital Account:

2013

 

Rs.

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


Answer 14:

Proprietor’s Capital Account

Dr.

Cr.

Date

Particulars

Amount

(Rs.)

Date

Particulars

Amount

(Rs.)

2013

 

 

2013

 

 

Mar.10

To Drawings A/c

10,000

Apr.01

By Cash A/c

45,000

Nov.30

To Drawings A/c ( Income Tax)

5,000

July 15

By Cash A/c(Additional Capital)

55,000

2014

 

 

2014

 

 

Mar.31

To Balance c/d

1,15,000

Mar.31

By Profit and Loss A/c

30,000

 

 

 

 

 

 

 

 

1,30,000

 

 

1,30,000

 

 

 

 

 

 

       
 

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Click for more Accountancy Study Material
TS Grewal Class 11 Solutions: Double Entry Book Keeping Financial Accounting
TS Grewal Accountancy Class 11 Solution Chapter 1 Introduction of Accounting
TS Grewal Accountancy Class 11 Solution Chapter 2 Basic Accounting Terms
TS Grewal Accountancy Class 11 Solution Chapter 3 Accounting Standards and IFRS
TS Grewal Accountancy Class 11 Solution Chapter 4 Bases of Accounting
TS Grewal Accountancy Class 11 Solution Chapter 5 Accounting Equation
TS Grewal Accountancy Class 11 Solution Chapter 6 Accounting Procedures Rules of Debit and Credit
TS Grewal Accountancy Class 11 Solution Chapter 7 Origin of Transactions Source Documents and Preparation of Voucher
TS Grewal Accountancy Class 11 Solution Chapter 8 Journal
TS Grewal Accountancy Class 11 Solution Chapter 9 Ledger
TS Grewal Accountancy Class 11 Solution Chapter 10 Special Purpose Books I Cash Book
TS Grewal Accountancy Class 11 Solution Chapter 11 Special Purpose Books II Other Book
TS Grewal Accountancy Class 11 Solution Chapter 12 Accounting of Goods and Services Tax (GST)
TS Grewal Accountancy Class 11 Solution Chapter 13 Bank Reconciliation Statement
TS Grewal Accountancy Class 11 Solution Chapter 14 Trial Balance
TS Grewal Accountancy Class 11 Solution Chapter 15 Depreciation
TS Grewal Accountancy Class 11 Solution Chapter 16 Provisions and Reserves
TS Grewal Accountancy Class 11 Solution Chapter 17 Accounting for Bills of Exchange
TS Grewal Accountancy Class 11 Solution Chapter 18 Rectification of Errors
TS Grewal Accountancy Class 11 Solution Chapter 19 Financial Statements of Sole Proprietorship
TS Grewal Accountancy Class 11 Solution Chapter 20 Adjustments in Preparation of Financial Statements
TS Grewal Accountancy Class 11 Solution Chapter 21 Accounts from Incomplete Records Single Entry System
TS Grewal Accountancy Class 11 Solution Chapter 22 Computers in Accounting
TS Grewal Accountancy Class 11 Solution Chapter 23 Accounting Software Tally
TS Grewal Class 11 Solutions: Double Entry Book Keeping Financial Accounting (Old Book)
TS Grewal Accountancy Class 11 Solution Chapter 1 Basic Accounting Terms
TS Grewal Accountancy Class 11 Solution Chapter 2 Accounting Equation
TS Grewal Accountancy Class 11 Solution Chapter 3 Accounting Procedures Rules of Debit and Credit
TS Grewal Accountancy Class 11 Solution Chapter 5 Journal
TS Grewal Accountancy Class 11 Solution Chapter 7 Origin of Transactions Source Documents and Preparation of Voucher
TS Grewal Accountancy Class 11 Solution Chapter 7 Special Purpose Books Cash Book
TS Grewal Accountancy Class 11 Solution Chapter 9 Bank Reconciliation Statement
TS Grewal Accountancy Class 11 Solution Chapter 10 Trial Balance
TS Grewal Accountancy Class 11 Solution Chapter 11 Depreciation
TS Grewal Accountancy Class 11 Solution Chapter 12 Accounting for Bills of Exchange
TS Grewal Accountancy Class 11 Solution Chapter 13 Rectification of Errors

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