Please wait...
1800-212-7858 (Toll Free)
9:00am - 8:00pm IST all days

or

Thanks, You will receive a call shortly.
Customer Support

You are very important to us

For any content/service related issues please contact on this toll free number

022-62211530

Mon to Sat - 11 AM to 8 PM

T. S. Grewal Solution for Class 11 Commerce Accountancy Chapter 5 - Accounting Equation

Share this:
Exercise/Page

T. S. Grewal Solution for Class 11 Commerce Accountancy Chapter 5 - Accounting Equation Page/Excercise 5.17

Solution 1

 

Sr. No.

Transactions

Assets

=

Liabilities+

Capital

Cash

Rs.

+

Bank +

Rs. 

Stock

Rs. 

=

Creditors

Rs. 

Capital

Rs. 

(i)

Started business with cash

45,000

 

 

 

=

 

45,000

 

 

45,000

 

 

 

=

 

45,000

(ii)

Opened a Bank Account with a deposit

(4,500)

 

4,500

 

=

 

 

 

 

40,500

 

4,500

 

=

 

45,000

(iii)

Bought goods from M/s .Sun and Co.

 

 

 

11,200

=

11,200

 

 

Total

40,500

+

4,500 +

11,200

=

11,200 +

45,000

 

 

Solution 2

Sr. No.

Transactions

Assets

=

Liabilities

+

Capital

 

 

Cash

Rs.

+

Stock

Rs. 

+

Debtors

Rs. 

=

Creditors

Rs. 

 

Capital

Rs. 

(i)

Gopinath started business with

25,000

 

 

 

 

=

 

 

25,000

 

 

25,000

 

 

 

 

=

 

 

25,000

(ii)

Purchased goods from Shyam

 

 

10,000

 

 

 

10,000

 

 

 

 

25,000

 

10,000

 

 

=

10,000

 

25,000

(iii)

Sold goods to Sohan

 

 

(1,800)

 

1,500

=

 

 

(300)

 

 

25,000

 

8,200

 

1,500

=

10,000

 

24,700

(iv)

Gopinath withdraw from business

(5000)

 

 

 

 

=

 

 

(5,000)

 

Total

20,000

+

8,200

+

1,500

=

10,000

+

19,700

 

T. S. Grewal Solution for Class 11 Commerce Accountancy Chapter 5 - Accounting Equation Page/Excercise 5.18

Solution 3

Sr. No.

Transactions

Assets 

=

Liabilities

+

Capital

Cash

Rs.

+

Advance Expenses

Rs.

=

Outstanding Expenses

Rs.

 

Capital

Rs. 

(i)

Started business with cash

50,000

 

 

=

 

 

50,000

 

 

50,000

 

 

=

 

 

50,000

(ii)

Salaries paid

(2,000)

 

 

=

 

 

(2,000) (Exp.)

 

 

48,000

 

 

=

 

 

48,000

(iii)

Wages Outstanding

 

 

 

=

200

 

(200)

 

 

48,000

 

 

=

200

 

47,800

(iv)

Interest due but not paid

 

 

 

=

100

 

(100)

(Exp.)

 

 

48,000

 

 

=

300

 

47,700

(v)

Rent pain advance

(150)

 

150

=

 

 

 

 

Total

47,850

+

150

=

300

+

47,700

 

 

Solution 4

Sr. No.

Transactions

Assets 

=

Liabilities + Capital

Cash

Rs.

+

Stock

Rs.

=

Creditors

Rs.

+

Outstanding Rent

Rs.

+

Capital

Rs. 

(i)

Harish started business with cash

18,000

 

 

=

 

 

 

 

18,000

 

 

18,000

 

 

=

 

 

 

 

18,000

(ii)

Purchased goods for cash Rs.5,000 and on credit Rs.2,000

(5,000)

 

7,000

=

2,000

 

 

 

 

 

 

13,000

 

7,000

=

2,000

 

 

+

18,000

(iii)

Sold goods for cash Rs.4,000 costing Rs.2,400

4,000

 

(2,400)

=

 

 

 

 

1,600

(Profit)

 

 

17,000

 

4,600

=

2,000

 

 

+

19,600

(iv)

Rent paid Rs.1,000 and Rent Outstanding Rs.200

(1,000)

 

 

=

 

 

200

 

(1,200)

 

Total

16,000

+

4,600

=

2,000

 

200

+

18,400

 

 

Solution 5

Sr. No.

Transactions

Assets 

=

Liabilities + Capital

Cash

Rs.

+

 Stock +

Rs.

Furniture

Rs.

=

 

Creditors

Rs.

+

Capital

Rs. 

(i)

Started business with cash Rs.1,00,000 and Goods Rs.20,000

1,00,000

 

20,000

 

=

 

 

1,20,000

 

 

1,00,000

 

20,000

 

=

 

 

1,20,000

(ii)

Sold goods worth Rs.10,000 for cash Rs.12,000

12,000

 

(10,000)

 

=

 

 

2,000

(Profit)

 

 

1,12,000

 

10,000

 

=

 

 

1,22,000

(iii)

Purchased furniture on credit for Rs.30,000

 

 

 

30,000

=

30,000

 

 

 

Total

1,12,000

+

10,000 +

30,000

=

30,000

+

1,22,000

 

Solution 6

Sr. No.

Transactions

Assets 

=

Liabilities + Capital

Cash

Rs.

+

 Furniture 

Rs.

+

 

Stock

Rs.

=

 

Creditors

Rs.

+

Capital

Rs. 

(i)

Ajeet started business with cash Rs.20,000

20,000

 

 

 

 

=

 

 

20,000

 

 

20,000

 

 

 

 

=

 

 

20,000

(ii)

He purchased furniture for Rs.2,000

(2,000)

 

2,000

 

 

=

 

 

 

 

 

18,000

 

2,000

 

 

=

 

 

20,000

(iii)

He paid rent of Rs.200

(200)

 

 

 

 

=

 

 

(200)

(Exp.)

 

 

17,800

 

2,000

 

 

=

 

 

19,800

(iv)

He purchased goods on credit Rs.3,000

 

 

 

 

3,000

=

3,000

 

 

 

 

17,800

 

2,000

+

3,000

=

3,000

 

19,800

(v)

He sold goods(cost price Rs. (2,000) for Rs.5,000 on cash

5,000

 

 

+

(2,000)

=

 

 

3,000

(Profit)

 

Total

22,800

+

2,000

+

1,000

=

3,000

+

22,800

 

 

Balance Sheet 

Liabilities

Rs.

Assets

Rs. 

Capital

22,800

Cash

22,800

Creditors

3,000

Furniture

2,000

 

 

Stock

1,000

 

25,800

 

25,800

 

 

Solution 7

Sr. No.

Transactions

Assets 

=

Liabilities + Capital

Cash

Rs.

+

 Stock 

Rs.

+

 

Debtors

Rs.

=

 

Creditors

Rs.

+

Capital

Rs. 

(i)

Started business with cash Rs.1,00,000

1,00,000

 

 

 

 

=

 

 

1,00,000

 

 

1,00,000

 

 

 

 

=

 

 

1,00,000

(ii)

Purchased goods for cash Rs.20,000 and on credit Rs.30,000

(20,000)

 

50,000

 

 

=

30,000

 

 

 

 

80,000

 

50,000

 

 

=

30,000

 

1,00,000

(iii)

Sold goods for cash costing Rs.10,000 and on credit costing Rs.15,000 both at a profit of 20%

12,000

 

(10,000)

 

(15,000)

 

 

+

 

 

18,000

=

 

=

 

 

2,000

 

3,000

 

Total

92,000

+

25,000

+

18,000

=

30,000

+

1,05,000

 

Solution 8

Sr. No.

Transactions

Assets 

=

Liabilities + Capital

Cash

Rs.

+

 Stock 

Rs.

+

 

Furniture

Rs.

=

 

Creditors

Rs.

+

Capital

Rs. 

(i)

Mohan commenced business with cash

50,000

 

 

 

 

=

 

 

50,000

 

 

50,000

 

 

 

 

=

 

 

50,000

(ii)

Purchased goods for cash

(30,000)

 

30,000

 

 

=

 

 

 

 

 

20,000

 

30,000

 

 

=

 

 

50,000

(iii)

Purchased goods on credit

 

 

20,000

 

 

=

20,000

 

 

 

 

20,000

 

50,000

 

 

=

20,000

 

50,000

(iv)

Sold goods costing Rs.10,000 for Rs.12,000

12,000

 

(10,000)

 

 

=

 

 

2,000

(Profit)

 

 

32,000

 

40,000

 

 

=

20,000

 

52,000

(v)

Bought furniture on credit

 

 

 

 

2,000

=

2,000

 

 

 

 

32,000

 

40,000

+

2,000

=

22,000

 

52,000

(vi)

Paid cash to creditor

(15,000)

 

 

 

 

=

(15,000)

 

 

 

 

17,000

 

40,000

+

2,000

=

7,000

 

52,000

(vi)

Salary paid

(1,000)

 

 

 

 

=

 

 

(1,000)

 

Total

16,000

+

40,000

+

2,000

=

7,000

+

51,000

 

T. S. Grewal Solution for Class 11 Commerce Accountancy Chapter 5 - Accounting Equation Page/Excercise 5.19

Solution 9

Sr. No.

Transactions

Assets 

=

Liabilities + Capital

Cash

Rs.

+

 Stock 

Rs.

+

 

Machinery

Rs.

=

 

Creditors

Rs.

 

Capital

Rs. 

(i)

Started business with cash Rs.70,000

70,000

 

 

 

 

 

 

 

70,000

 

 

70,000

 

 

 

 

 

 

 

70,000

(ii)

Credit purchase of goods Rs.18,000

 

 

18,000

 

 

=

18,000

 

 

 

 

70,000

 

18,000

 

 

=

18,000

 

70,000

(iii)

Payment made to creditor Rs.17,500 in full settlement

(17,500)

 

 

 

 

=

(18,000)

 

500

(Discount Received)

 

 

52,500

 

18,000

 

 

=

NIL

 

70,500

(iv)

Purchase of machinery for cash Rs.20,000

(20,000)

 

 

 

20,000

 

 

 

 

 

 

32,500

 

18,000

 

20,000

=

NIL

 

70,500

(v)

Depreciation on machinery Rs.2,000

 

 

 

 

(2,000)

 

 

 

 

(2,000)

(Depreciation)

 

Total

32,500

+

18,000

+

18,000

=

NIL

+

68,500

 

Solution 10

Sr. No.

Transactions

Assets 

=

Liabilities + Capital

Cash

Rs.

+

Prepaid Rent

Rs.

+

 

Stock

Rs.

=

 

Creditors

Rs.

+

Outstanding Salary

Rs. 

+

Capital

Rs. 

(i)

Commenced business with cash Rs.60,000

60,000

 

 

 

 

 

 

 

 

 

60,000

 

 

60,000

 

 

 

 

=

 

 

 

 

60,000

(ii)

Paid rent in advance Rs.500

(500)

 

500

 

 

 

 

 

 

 

 

 

 

59,500

 

500

 

 

=

 

 

 

 

60,000

(iii)

Purchased goods for cash Rs.30,000 and credit Rs.20,000

(30,000)

 

 

 

50,000

 

20,000

 

 

 

 

 

 

29,500

 

500

 

50,000

=

20,000

 

 

 

60,000

(iv)

Sold goods for cash 30,000 costing Rs.20,000

30,000

 

 

 

(20,000)

 

 

 

 

 

10,000

(Profit)

 

 

59,500

 

500

 

30,000

=

20,000

 

 

 

70,000

(v)

Paid salary Rs.500 and salary outstanding being Rs.100

(5000)

 

 

 

 

=

 

 

 

 

(5,000)

(Drawings)

 

Total

54,000

+

500

+

30,000

=

20,000 +

 

100

+

64,400

 

Balance Sheet

Liabilities

Rs.

Assets

Rs. 

Capital

64,400

Cash

54,000

Creditors

20,000

Prepaid Rent

500

Outstanding Salary

100

Stock

30,000

 

85,500

 

85,500

 

Solution 11

Sr. No.

Transactions

Assets

=

Liabilities + Capital

Cash

Rs.

+

Accrued Interest

Rs.

=

 

Advance Commission 

Rs. 

+

Capital

Rs. 

(i)

Started business with cash Rs.60,000

60,000

 

 

=

 

 

60,000

 

 

60,000

 

 

=

 

 

60,000

(ii)

Rent received Rs.2,000

2,000

 

 

=

 

 

2,000

(Income)

 

 

62,000

 

 

=

 

 

62,000

(iii)

Accrued interest Rs.500

 

 

500

=

 

 

500

(Income)

 

 

62,000

 

500

=

 

 

62,500

(iv)

Commission received in advance Rs.1,000

1,000

 

 

=

1,000

 

 

 

 

63,000

 

500

=

1,000

 

62,500

(v)

Amount withdrawn Rs.5,000

( 5000)

 

 

=

 

 

(5,000)

 

Total

58,000

+

500

=

1,000

+

57,500

 

 

Balance Sheet

Liabilities

Rs. 

Assets

Rs. 

Capital

57,500

Cash

58,000

Advance Commission

1,000

Accrued Interest

500

 

58,500

 

58,500

 

Solution 12

Sr. No.

Transactions

Assets 

=

Liabilities + Capital

Cash

Rs.

+

Prepaid Rent

Rs.

 

+

Stock

Rs.

=

 

Creditors

Rs. 

+

Outstanding Salary

Rs.

+

 

Capital

Rs. 

(i)

Started business with cash Rs.10,000

10,000

 

 

 

 

 

 

 

 

 

10,000

 

 

10,000

 

 

 

 

=

 

 

 

 

10,000

(ii)

Paid rent in advance Rs.300

(300)

 

300

 

 

 

 

 

 

 

 

 

 

9,700

 

300

 

 

=

 

 

 

 

10,000

(iii)

Purchased goods for cash Rs.5,000 and credit Rs.2,000

(5,000)

 

 

 

5,000

=

2,000

 

 

 

 

 

 

 

 

2,000

=

 

 

 

 

 

 

 

4,700

 

300

 

7,000

=

2,000

 

 

 

10,000

(iv)

Sold goods for cash Rs.8,000 costing Rs.4,000

8,000

 

 

 

(4,000)

 

 

 

 

 

4,000

(Profit)

 

 

12,700

 

300

 

3,000