Accounting Procedures- Rules of Debit and Credit Notes | Study TS Grewal Solutions - Class 11 Accountancy - Commerce

Commerce: Accounting Procedures- Rules of Debit and Credit Notes | Study TS Grewal Solutions - Class 11 Accountancy - Commerce

The document Accounting Procedures- Rules of Debit and Credit Notes | Study TS Grewal Solutions - Class 11 Accountancy - Commerce is a part of the Commerce Course TS Grewal Solutions - Class 11 Accountancy.
All you need of Commerce at this link: Commerce

Page No 6.16:

Ques1: 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.
Ans:
Accounting Procedures- Rules of Debit and Credit Notes | Study TS Grewal Solutions - Class 11 Accountancy - Commerce
Accounting Procedures- Rules of Debit and Credit Notes | Study TS Grewal Solutions - Class 11 Accountancy - Commerce

Page No 6.16:

Ques2:Classify the following into Assets, Liabilities, Capital, Expenses and Revenue:
Accounting Procedures- Rules of Debit and Credit Notes | Study TS Grewal Solutions - Class 11 Accountancy - Commerce

Ans:

Accounting Procedures- Rules of Debit and Credit Notes | Study TS Grewal Solutions - Class 11 Accountancy - Commerce

Page No 6.17:

Ques3: Classify the following into Assets, Liabilities, Capital, Revenue, and Expenses:
Accounting Procedures- Rules of Debit and Credit Notes | Study TS Grewal Solutions - Class 11 Accountancy - Commerce

Ans:
Accounting Procedures- Rules of Debit and Credit Notes | Study TS Grewal Solutions - Class 11 Accountancy - Commerce


Ques4: 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:Accounting Procedures- Rules of Debit and Credit Notes | Study TS Grewal Solutions - Class 11 Accountancy - Commerce

Ques5: 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 


Ans:
Accounting Procedures- Rules of Debit and Credit Notes | Study TS Grewal Solutions - Class 11 Accountancy - Commerce

Ques6: From the following transactions, state the nature of account and state which account will be debited and which account credited:
Accounting Procedures- Rules of Debit and Credit Notes | Study TS Grewal Solutions - Class 11 Accountancy - Commerce
Ans:
Accounting Procedures- Rules of Debit and Credit Notes | Study TS Grewal Solutions - Class 11 Accountancy - Commerce

Ques7: Open a 'T' shape account for machinery and put the following transactions on the proper side:
Accounting Procedures- Rules of Debit and Credit Notes | Study TS Grewal Solutions - Class 11 Accountancy - Commerce
Ans: Machinery(Asset) Account
Accounting Procedures- Rules of Debit and Credit Notes | Study TS Grewal Solutions - Class 11 Accountancy - Commerce


Page No 6.18:

Question 8: Open a 'T' shape Cash Account with the following transactions:
Accounting Procedures- Rules of Debit and Credit Notes | Study TS Grewal Solutions - Class 11 Accountancy - Commerce
Ans:
Accounting Procedures- Rules of Debit and Credit Notes | Study TS Grewal Solutions - Class 11 Accountancy - Commerce


Question 9: Open a 'T' shape account of creditor, 'Rakesh', and write the following transactions on the proper side:
Accounting Procedures- Rules of Debit and Credit Notes | Study TS Grewal Solutions - Class 11 Accountancy - Commerce
Ans:
Accounting Procedures- Rules of Debit and Credit Notes | Study TS Grewal Solutions - Class 11 Accountancy - Commerce


Question 10: Open a 'T' shape account of debtor 'Brij' and write the following transactions on the proper side:
Accounting Procedures- Rules of Debit and Credit Notes | Study TS Grewal Solutions - Class 11 Accountancy - Commerce
Ans:
Accounting Procedures- Rules of Debit and Credit Notes | Study TS Grewal Solutions - Class 11 Accountancy - Commerce


Page No 6.18:


Ques 11: Put the following on the proper side of a Cash Account, a Debtor's Account and a Creditor's Account:

Accounting Procedures- Rules of Debit and Credit Notes | Study TS Grewal Solutions - Class 11 Accountancy - Commerce
Ans:
Accounting Procedures- Rules of Debit and Credit Notes | Study TS Grewal Solutions - Class 11 Accountancy - Commerce
Accounting Procedures- Rules of Debit and Credit Notes | Study TS Grewal Solutions - Class 11 Accountancy - Commerce
Accounting Procedures- Rules of Debit and Credit Notes | Study TS Grewal Solutions - Class 11 Accountancy - Commerce


Ques 12:From the following particulars, prepare the proprietor's Capital Account: 
Accounting Procedures- Rules of Debit and Credit Notes | Study TS Grewal Solutions - Class 11 Accountancy - Commerce
Balance the same and explain what the closing balance indicates.
Ans :
Accounting Procedures- Rules of Debit and Credit Notes | Study TS Grewal Solutions - Class 11 Accountancy - Commerce


Ques13: From the following particulars, prepare the proprietor's Capital Account:
Accounting Procedures- Rules of Debit and Credit Notes | Study TS Grewal Solutions - Class 11 Accountancy - Commerce 
Ans:
Accounting Procedures- Rules of Debit and Credit Notes | Study TS Grewal Solutions - Class 11 Accountancy - Commerce

The document Accounting Procedures- Rules of Debit and Credit Notes | Study TS Grewal Solutions - Class 11 Accountancy - Commerce is a part of the Commerce Course TS Grewal Solutions - Class 11 Accountancy.
All you need of Commerce at this link: Commerce

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