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

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

Please find the below questions and answers with solutions. You will get all the Class 11 Chapter 3 accounts solutions from this post.

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
(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 Accountancy Class 11 Solutions Chapter 3 Accounting Procedures Rules of Debit and Credit Q1

Question 2.
Clasify the follwoing 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:
TS Grewal Accountancy Class 11 Solutions Chapter 3 Accounting Procedures Rules of Debit and Credit Q2

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
Solution:
TS Grewal Accountancy Class 11 Solutions Chapter 3 Accounting Procedures Rules of Debit and Credit Q3

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)
Solution:
TS Grewal Accountancy Class 11 Solutions Chapter 3 Accounting Procedures Rules of Debit and Credit Q4

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
Solution:
TS Grewal Accountancy Class 11 Solutions Chapter 3 Accounting Procedures Rules of Debit and Credit Q5
TS Grewal Accountancy Class 11 Solutions Chapter 3 Accounting Procedures Rules of Debit and Credit Q5.1

Question 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 Class 11 Solutions Chapter 3 Accounting Procedures Rules of Debit and Credit Q6

Question 7.
Analyse the following transactions, state the nature of accounts and state which account will be debited and which account credited:
TS Grewal Accountancy Class 11 Solutions Chapter 3 Accounting Procedures Rules of Debit and Credit Q7
Solution:
TS Grewal Accountancy Class 11 Solutions Chapter 3 Accounting Procedures Rules of Debit and Credit Q7

Question 8.
Open a ‘T’ shape account for machinery and put the following transactions on the proper side:
TS Grewal Accountancy Class 11 Solutions Chapter 3 Accounting Procedures Rules of Debit and Credit Q8
Solution:
TS Grewal Accountancy Class 11 Solutions Chapter 3 Accounting Procedures Rules of Debit and Credit Q8

Question 9.
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 Class 11 Solutions Chapter 3 Accounting Procedures Rules of Debit and Credit Q9

Question 10.
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 Class 11 Solutions Chapter 3 Accounting Procedures Rules of Debit and Credit Q10

Question 11.
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 Class 11 Solutions Chapter 3 Accounting Procedures Rules of Debit and Credit Q11

Question 12.
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 Class 11 Solutions Chapter 3 Accounting Procedures Rules of Debit and Credit Q12

Question 13.
From the following particulars, prepare the proprietor’s Capital Account:
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.
Solution:
TS Grewal Accountancy Class 11 Solutions Chapter 3 Accounting Procedures Rules of Debit and Credit Q13

Question 14.
From the following particulars, prepare the proprietor’s Capital Account:
TS Grewal Accountancy Class 11 Solutions Chapter 3 Accounting Procedures Rules of Debit and Credit Q14
Solution:
TS Grewal Accountancy Class 11 Solutions Chapter 3 Accounting Procedures Rules of Debit and Credit Q14

 

Updated: November 3, 2019 — 12:03 pm

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