| CLASS-11 ACCOUNTANCY |
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| TS Grewal 2025-26 Solutions |
Introduction to AccountingAccounting is a process of identifying the events of financial nature, recording them in journal, classifying in their respective ledgers, summarizing them in Profit and Loss Account and Balance… Basic Accounting TermsBusiness Transaction ‘Business Transaction’ means a financial transaction or economic event entered into by two parties that initiates the accounting process of recording it in the books of account… Theory Base of Accounting, Accounting Standards & Ind-ASAccounting Principal Accounting Principal are the rules adopted by accountants universally while recording accounting transaction. They are the norms or rules which are followed in accounting of various items… Bases of Accounting2. Accrual Basis of Accounting – Under Accrual Basis of Accounting, unlike under Cash Basis of Accounting, income is recorded as income when it is earned or accrued. For example,… Accounting EquationSolution – Assets = Liabilities + capital (Cash+bank+stock) = (creditors) + capital 40,500+45, 00+11,200 = 11,200 + 45,000 56,200 = 56,200 2. Show the Accounting Equation for the… Origin of Transactions-Source Documents and Preparation of VouchersPractical Problems Solution:- (i) Bought Computer Mouse (4 Nos.) vide cash memo no. 338 (ii) Wages paid for the month of December, 2024 (iii) Purchased two Desktop Computers from M/s… JournalSolution – JOURNAL 2. Enter the following transactions in the journal of Ram: Solution: Ram Journal 3. Record the following transactions in the Journal of Amitabh Solution – Amithabh Journal… LedgerQ1. On 1st April, 2025, Gopal started business with a capital of 50,000. He made the following transactions during the month of April: Journalise the above transactions and show the… Special Purpose Books I-Cash BookQ1. Enter the following transactions of Ripinder in his Single Column Cash Book and Balance it: Solution – Single Column Book Transaction: Dr Cash Book Cr Working Note –… Special Purpose Books II-Other BooksQ1. Record the following transactions in the Purchases Book of Krishna General Stores, Delhi: Solution – In the Book of Krishna General Store Purchases Book Q2. Verma Bros. carry… Accounting of Goods and Services Tax (GST)Q1. Journalise the following transactions in the books of Gurman of Delhi: Solution – Journal Entries Working Note:- Less Trade Discount (10%) = 2,000 = 18,000 Less… |