{"id":4168,"date":"2022-05-09T11:00:49","date_gmt":"2022-05-09T05:30:49","guid":{"rendered":"http:\/\/mcq-questions.com\/?p=4168"},"modified":"2022-05-06T15:53:22","modified_gmt":"2022-05-06T10:23:22","slug":"ts-grewal-accountancy-class-11-solutions-chapter-3","status":"publish","type":"post","link":"https:\/\/mcq-questions.com\/ts-grewal-accountancy-class-11-solutions-chapter-3\/","title":{"rendered":"TS Grewal Accountancy Class 11 Solutions Chapter 3 Accounting Procedures Rules of Debit and Credit"},"content":{"rendered":"

TS Grewal Accountancy Class 11 Solutions Chapter 3 Accounting Procedures Rules of Debit and Credit are part of TS Grewal Accountancy Class 11 Solutions<\/a>. Here we have given TS Grewal Accountancy Class 11 Solutions Chapter 3 Accounting Procedures Rules of Debit and Credit.<\/p>\n\n\n\n\n\n\n\n\n\n\n
Board<\/strong><\/td>\nCBSE<\/td>\n<\/tr>\n
Textbook<\/strong><\/td>\nNCERT<\/td>\n<\/tr>\n
Class<\/strong><\/td>\nClass 11<\/td>\n<\/tr>\n
Subject<\/strong><\/td>\nAccountancy<\/td>\n<\/tr>\n
Chapter<\/strong><\/td>\nChapter 3<\/td>\n<\/tr>\n
Chapter Name<\/strong><\/td>\nAccounting Procedures Rules of Debit and Credit<\/td>\n<\/tr>\n
Number of Questions Solved<\/strong><\/td>\n14<\/td>\n<\/tr>\n
Category<\/strong><\/td>\nTS Grewal Solutions<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

TS Grewal Accountancy Class 11 Solutions Chapter 3 Accounting Procedures Rules of Debit and Credit<\/h2>\n

Question 1.
\nFollowing accounts are being maintained in the books of Shri Ashok. Classify them into Personal, Real and Nominal Accounts:
\n(i) Land and Building
\n(ii) Excise Duty
\n(iii) Creditors
\n(iv) Capital
\n(v) Motor Vehicles
\n(vi) Goodwill
\n(vii) Investments
\n(viii) Salary
\n(ix) Debtors
\n(x) Bad Debts
\n(xi) Depreciation
\n(xii) Wages
\n(xiii) Repairs
\n(xiv) Ramesh, a debtor
\n(xv) Interest Received
\n(xvi) Bank Overdraft
\n(xvii) Purchase Returns
\n(xviii) Drawings
\n(xix) Freight
\n(xx) Return Inwards.
\nSolution:
\n\"TS<\/p>\n

\"TS<\/p>\n

Question 2.
\nClasify the follwoing into Assets, Liabilities, Capital, Expenses and Revenue:
\n(i) Land
\n(ii) Investments
\n(iii) Building
\n(iv) Interest Received
\n(v) Salary
\n(vi) Bank Overdraft
\n(vii) Debtors
\n(viii) Creditors
\n(ix) Bad Debts
\n(x) Capital
\n(xi) Depreciation
\n(xii) Motor Vehicles
\n(xiii) Freight
\n(xiv) Wages
\n(xv) Goodwill
\n(xvi) Repairs
\nSolution:
\n\"TS<\/p>\n

Question 3.
\nClassify the following into assets, liabilities, capital, revenue, and expenses:
\n(i) Plant and Machinery
\n(ii) Bank Loan
\n(iii) Sales
\n(iv) Rent
\n(v) Discount Received
\n(vi) Carriage Inwards
\n(vii) Carriage outwards
\n(viii) Purchases
\n(ix) Bills Payable
\n(x) Wages
\n(xi) Advance Income
\n(xii) Accrued Income
\n(xiii) Goodwill
\n(xiv) Furniture and Fixtures
\n(xv) Outstanding Expenses
\n(xvi) Capital
\nSolution:
\n\"TS<\/p>\n

\"TS<\/p>\n

Question 4.
\nOn which side will the increase in the following accounts be recorded ? Also, state the nature of the account:
\n(i) Furniture A\/c
\n(ii) Mohan (proprietor)
\n(iii) Salary A\/c
\n(iv) Purchases A\/c
\n(v) Sales A\/c
\n(vi) Interest Paid A\/c
\n(vii) Sohan (Creditor)
\n(viii) Ram (Debtor)
\nSolution:
\n\"TS<\/p>\n

Question 5.
\nOn which side will the decrease in the following accounts be recorded ? Also, state the nature of the account:
\n(i) Cash
\n(ii) Bank Overdraft
\n(iii) Outstanding salary paid
\n(iv) Outstanding Rent
\n(v) Prepaid Insurance
\n(vi) Mohan, Proprietor of the business
\nSolution:
\n\"TS
\n\"TS<\/p>\n

\"TS<\/p>\n

Question 6.
\nFrom the following Transactions, state the nature of account and state which account will be debited and which account credited:
\n(i) Manu started business with cash – \u20b9 1,00,000
\n(ii) He purchased furniture for business – \u20b9 20,000
\n(iii) Purchase goods on credit from Anshul – \u20b9 6,000
\n(iv) Paid to his creditor, Anshul – \u20b9 2,000
\n(v) Paid salary to his clerk – \u20b9 1,000
\n(vi) Paid Rent – \u20b9 500
\n(vii) Received Interest – \u20b9 200
\nSolution:
\n\"TS<\/p>\n

Question 7.
\nAnalyse the following transactions, state the nature of accounts and state which account will be debited and which account credited:
\n\"TS
\nSolution:
\n\"TS<\/p>\n

\"TS<\/p>\n

Question 8.
\nOpen a ‘T’ shape account for machinery and put the following transactions on the proper side:
\n\"TS
\nSolution:
\n\"TS<\/p>\n

Question 9.
\nOpen a ‘T’ shape Cash Account. Put the following transactions on the proper side and balance the account:
\n(i) Mohan started business with cash – \u20b9 40,000
\n(ii) Purchased Goods – \u20b9 20,000
\n(iii) Sold Goods – \u20b9 24,000
\n(iv) Paid Rent – \u20b9 400
\n(v) Paid salaries – \u20b9 600
\n(vi) Drew for personal use – \u20b9 1,000
\nSolution:
\n\"TS<\/p>\n

\"TS<\/p>\n

Question 10.
\nOpen a ‘T’ shape account of creditor, Rakesh and write the following transactions on the proper side:
\n(i) Goods purchased from Rakesh on credit – \u20b9 50,000
\n(ii) Goods returned to Rakesh for – \u20b9 5,000
\n(iii) Paid to Rakesh – \u20b9 20,000
\n(iv) Purchase goods from Rakesh on credit – \u20b9 10,000
\nSolution:
\n\"TS<\/p>\n

Question 11.
\nOpen a ‘T’ shape account of debtor ‘Brij’ and write the following transactions on the proper side:
\n(i) Sold goods to Brij on credit – \u20b9 25,000
\n(ii) Cash received from Brij – \u20b9 10,000
\nDiscount allowed to him – \u20b9 500
\n(iii) Goods returned by Brij – \u20b9 5,000
\nSolution:
\n\"TS<\/p>\n

\"TS<\/p>\n

Question 12.
\nPut the following on the proper side of a Cash Account, a Debtor’s Account and a Creditor’s Account:
\n(i) Sold goods to Sanjay on credit – \u20b9 50,000
\n(ii) Sold goods to Mohan for cash – \u20b9 20,000
\n(iii) Purchased goods from Ram on credit – \u20b9 25,000
\n(iv) Cash received from Sanjay – \u20b9 19,000
\n(v) Goods returned by Sanjay – \u20b9 2,000
\n(vi) Paid rent – \u20b9 500
\n(vii) Cash paid to Ram – \u20b9 15,000
\nSolution:
\n\"TS<\/p>\n

\"TS<\/p>\n

Question 13.
\nFrom the following particulars, prepare the proprietor’s Capital Account:
\n1st April, 2017 – Commenced business with cash – \u20b9 2,00,000
\n31st March, 2018 – Net Loss as per Profit and Loss Account – \u20b9 18,000
\n31st March, 2018 – Drawings during the period – \u20b9 15,000
\nBalance the same and explain what the closing balance indicates.
\nSolution:
\n\"TS<\/p>\n

Question 14.
\nFrom the following particulars, prepare the proprietor’s Capital Account:
\n\"TS
\nSolution:
\n\"TS<\/p>\n

We hope the TS Grewal Accountancy Class 11 Solutions Chapter 3 Accounting Procedures Rules of Debit and Credit help you. If you have any query regarding TS Grewal Accountancy Class 11 Solutions Chapter 3 Accounting Procedures Rules of Debit and Credit, drop a comment below and we will get back to you at the earliest.<\/p>\n

\"TS<\/p>\n","protected":false},"excerpt":{"rendered":"

TS Grewal Accountancy Class 11 Solutions Chapter 3 Accounting Procedures Rules of Debit and Credit are part of TS Grewal Accountancy Class 11 Solutions. Here we have given TS Grewal Accountancy Class 11 Solutions Chapter 3 Accounting Procedures Rules of Debit and Credit. Board CBSE Textbook NCERT Class Class 11 Subject Accountancy Chapter Chapter 3 …<\/p>\n

TS Grewal Accountancy Class 11 Solutions Chapter 3 Accounting Procedures Rules of Debit and Credit<\/span> Read More »<\/a><\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","spay_email":""},"categories":[4],"tags":[],"yoast_head":"\nTS Grewal Accountancy Class 11 Solutions Chapter 3 Accounting Procedures Rules of Debit and Credit - MCQ Questions<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mcq-questions.com\/ts-grewal-accountancy-class-11-solutions-chapter-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TS Grewal Accountancy Class 11 Solutions Chapter 3 Accounting Procedures Rules of Debit and Credit - MCQ Questions\" \/>\n<meta property=\"og:description\" content=\"TS Grewal Accountancy Class 11 Solutions Chapter 3 Accounting Procedures Rules of Debit and Credit are part of TS Grewal Accountancy Class 11 Solutions. 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