Double Entry Book Keeping Ts Grewal 2018 Solutions for Class 11 Commerce Accountancy Chapter 3 Accounting Procedures Rules Of Debit And Credit are provided here with simple step-by-step explanations. These solutions for Accounting Procedures Rules Of Debit And Credit are extremely popular among class 11 Commerce students for Accountancy Accounting Procedures Rules Of Debit And Credit Solutions come handy for quickly completing your homework and preparing for exams. All questions and answers from the Double Entry Book Keeping Ts Grewal 2018 Book of class 11 Commerce Accountancy Chapter 3 are provided here for you for free. You will also love the ad-free experience on Meritnation’s Double Entry Book Keeping Ts Grewal 2018 Solutions. All Double Entry Book Keeping Ts Grewal 2018 Solutions for class 11 Commerce Accountancy are prepared by experts and are 100% accurate.

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:

Item Nature of Account
Land & Building Real A/c
Excise Duty Nominal A/c
Creditors Personal A/c
Capital Personal A/c
Motor Vehicles Real A/c
Goodwill Real A/c
Investments Real A/c
Salary Nominal A/c
Debtors Personal A/c
Bad Debts Nominal A/c
Depreciation Nominal A/c
Wages Nominal A/c
Repair Nominal A/c
Ramesh, a debtor Personal A/c
Interest Received Nominal A/c
Bank Overdraft Personal A/c
Purchase Returns Nominal A/c
Drawings Personal A/c
Freight Nominal A/c
Return Inwards Nominal A/c



Page No 6.16:

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:

Assets

Liabilities

Capital

Expenses

Revenue

(i) Land

(vi) Bank Overdraft

(x) Capital

(v) Salary

(iv) Interest Received

(ii) Investments

(viii) Creditors

 

(ix) Bad Debts

 

(iii) Building

 

 

(xi) Depreciation

 

(vii) Debtors

 

 

(xiii) Freight

 

(xii) Motor Vehicles

 

 

(xiv) Wages

 

(xv) Goodwill

 

 

(xvi) Repairs

 

 

 

 

 

 

Page No 6.16:

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:

Assets

Liabilities

Capital

Revenue

Expenses

(i)

Plant and Machinery

(ii)

Bank Loan

(xvi)

Capital

(iii)

Sales

(iv)

Rent

(xii)

Accrued Income

(ix)

Bills Payable

 

 

(v)

Discount Received

(vi)

Carriage Inwards

(xiii)

Goodwill

(xi)

Advance Income

 

 

 

 

(vii)

Carriage Outwards

(xiv)

Furniture and Fixtures

(xv)

Outstanding Expenses

 

 

 

 

(viii)

Purchases

 

 

 

 

 

 

 

 

(x)

Wages

 

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:

Name of Accounts

Consequence of increase   

Modern Approach

Traditional Approach

(i)

Furniture

Debit

Assets

Real Account

(ii)

Mohan (Proprietor)

Credit

Capital

Personal Account

(iii)

Salary

Debit

Expense

Nominal Account

(iv)

Purchases

Debit

Expense

Nominal Account

(v)

Sales

Credit

Revenue

Nominal Account

(vi)

Interest Paid

Debit

Expense

Nominal Account

(vii)

Sohan (Creditor)

Credit

Liabilities

Personal Account

(viii)

Ram (Debtor)

Debit

Assets

Personal Account

 

Page No 6.16:

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:

Name of Accounts

Consequence of decrease

Modern Approach

Traditional Approach

(i)

Cash

Credit

Assets

Real Account

(ii)

Bank Overdraft

Debit

Liability

Personal Account

(iii)

Outstanding Salary Paid

Debit

Liability

Personal Account

(iv)

Outstanding Rent

Debit

Liability

Personal Account

(v)

Prepaid Insurance

Credit

Asset

Personal Account

(vi)

Mohan, proprietor of the business

Debit

Capital

Real Account

Page No 6.16:

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
 

Answer:

Transactions Nature of Account
Manu started business with cash Cash A/c- Debit Capital A/c- Credit
He purchased furniture for business Furniture A/c- Debit Cash A/c- Credit
Purchased goods on credit from Anshul Purchases A/c- Debit Creditor A/c- Credit
Paid to his creditor, Anshul Creditor A/c- Debit Cash A/c- Credit
Paid salary to his clerk Salary A/c- Debit Cash A/c- Credit
Paid rent Rent A/c- Debit Cash A/c- Credit
Received interest Cash A/c- Debit Interest A/c- Credit



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
₹
(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)  Witrhdrew cash for personal use 5,000
 
 
 

Answer:

Transactions Nature of Account
Lal started business with cash Cash A/c- Debit Capital A/c- Credit
Purchased furniture for cash from Shanti Furniture House Furniture A/c- Debit Cash A/c- Credit
Purchased goods for cash Purchases A/c- Debit Cash A/c- Credit
Sold goods for cash to Pal Cash A/c- Debit Sales A/c- Credit
Sold goods to Om on credit Om A/c- Debit Sales A/c- Credit
Deposited cash in bank for opening an account Bank A/c- Debit Cash A/c- Credit
Received a cheque from Om Cheques in Hand A/c- Debit Om A/c- Credit
Deposited Om’s cheque the next day Bank A/c- Debit Cheques in Hand A/c- Credit
Borrowed from Sohan Cash A/c- Debit Loan from Sohan A/c- Credit
Purchased furniture from Haryana Safe Furniture A/c- Debit Haryana Safe A/c- Credit
Paid interest on loan Interest on Loan A/c- Debit Cash A/c- Credit
Paid rent by cheque Rent A/c- Debit Bank A/c- Credit
Paid salary to staff Salary A/c- Debit Cash A/c- Credit
Withdrew cash for personal use Drawings A/c- Debit Cash A/c- Credit

Page No 6.17:

Question 8:

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

    ₹
(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:

Machinery(Asset) Account

Dr.

 

Cr.

Date

Particulars

Amount

(Rs)

Particulars

Amount

(Rs)

 

Bank (Purchased)

40,000

Bank (Sale)

10,000

 

Bank (Purchased)

8,000

Bank (Discarded)

14,000

 

 

 

Depreciation

1,000

 

 

 

Balance c/d

23,000

 

 

48,000

 

48,000

 

 

 

 

 

 

Page No 6.17:

Question 9:

Open a 'T' shape Cash Account with the following transactions:

    ₹
(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:

Cash Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

(i)

Capital

 

40,000

(ii)

Purchases

 

20,000

(iii)

Sales

 

24,000

(iv)

Rent

 

400

 

 

 

 

(v)

Salaries

 

600

 

 

 

 

(vi)

Drawings

 

1,000

 

 

 

 

 

Balance c/d

 

42,000

 

 

 

64,000

 

 

 

64,000

 

 

 

 

 

 

 

 

 

Page No 6.17:

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
 

Answer:

Rakesh

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

(ii)

Purchases Return

 

5,000

(i)

Purchases

 

50,000

(iii)

Cash

 

20,000

(iv)

Purchases

 

10,000

 

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:

(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:

Brij (Debtors)  

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

(i)

Sales

 

25,000

(ii)

Cash

 

10,000

 

 

 

 

 

Discount Received

 

500

 

 

 

 

(iii)

Sales Return

 

5,000

 

 

 

 

 

Balance c/d

 

9,500

 

 

 

25,000

 

 

 

25,000

 

 

 

 

 

 

 

 

 

Page No 6.18:

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

Answer:

Cash Account  

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

(ii)

Sales

 

20,000

(vi)

Rent

 

500

(iv)

Sanjay

 

19,000

(vii)

Ram

 

15,000

 

 

 

 

 

Balance c/d

 

23,500

 

 

 

39,000

 

 

 

39,000

 

 

 

 

 

 

 

 

                   

 

Sanjay (Debtors)

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

(i)

Sales

 

50,000

(iv)

Cash

 

19,000

 

 

 

 

(v)

Sales Return

 

2,000

 

 

 

 

 

Balance c/d

 

29,000

 

 

 

50,000

 

 

 

50,000

 

 

 

 

 

 

 

 

                   

 

Ram (Creditors)   

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

(vii)

Cash

 

15,000

(iii)

Purchase

 

25,000

 

Balance c/d

 

10,000

 

 

 

 

 

 

 

25,000

 

 

 

25,000

 

 

 

 

 

 

 

 

 

Page No 6.18:

Question 13:

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

  ₹
1st April, 2017Commenced business with cash 2,00,000
31st March, 2018Net Loss as per Profit and Loss Account 18,000
31st March, 2018Drawings during the period 15,000
Balance the same and explain what the closing balance indicates.

Answer:

Capital Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2018

 

 

 

2017

 

 

 

March 31

Profit and Loss A/c (Net Loss)

 

18,000

April 01

Cash

 

2,00,000

March 31

Drawings

 

15,000

 

 

 

 

March 31

Balance c/d

 

1,67,000

 

 

 

 

 

 

 

2,00,000

 

 

 

2,00,000

 

 

 

 

 

 

 

 


Note: 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.

Page No 6.18:

Question 14:

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

2013   ₹
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:

Proprietor’s Capital Account

Dr.

Cr.

Date

Particulars

Amount

(Rs)

Date

Particulars

Amount

(Rs)

2013

 

 

2013

 

 

Mar.10

Drawings A/c

10,000

Apr.01

Cash A/c

45,000

Nov.30

Drawings A/c ( Income Tax)

5,000

July 15

Cash A/c

55,000

2014

 

 

2014

 

 

Mar.31

Balance c/d

1,15,000

Mar.31

Profit and Loss A/c

30,000

 

 

 

 

 

 

 

 

1,30,000

 

 

1,30,000

 

 

 

 

 

 



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