TS Grewal Solutions
TS Grewal Solutions for Class 11 and 12 Accountancy
TS Grewal Solutions 2023 2024 is the latest accountancy book that was launched for Class 11 and 12 students. The book has been used for many years by students and has been really useful in making them understand accountancy concepts. This TS Grewal book has been used by commerce students. Students are able to go through all chapters in which all topics have been explained in a very easy-to-understand manner. We have provided here solutions for all questions which have been given in the TS Grewal 2023 2024 accountancy textbook released for the current academic year.
As students face great difficulty to understand basic concepts of accountancy, if they read through the concepts explained for each chapter in this book, they are able to understand and solve questions. All TS Grewal Class 11 solutions and TS Grewal Class 12 solutions provided below have been prepared by expert accountancy teachers. We have provided solutions based on the 2023 2024 academic year book released for the current year.
If students go through the book and the solutions provided, they will be able to understand the way solutions have been derived for all questions. All TS Grewal book solutions have been given chapter-wise. All questions given in each chapter have been solved here. We have also provided additional learning notes against each question and answer. These learning points will help the student to understand the concept being asked in the question. TS Grewal Accountancy books are used by commerce students in classes 11 and 12. The books have been used for decades now and have been referred by all teachers.
TS Grewal Solutions Class 11
T.S. Grewal’s Double Entry Book Keeping: Financial Accounting Textbook for CBSE Class 11 (as per 2023-24 syllabus)
Chapter 1 Introduction to Accounting
Chapter 2 Basic Accounting Terms
Chapter 3 Accounting Standards and IFRS
Chapter 6 Accounting Procedures Rules of Debit and Credit
Chapter 7 Origin of Transactions
Chapter 10 Special Purpose Books I Cash Book
Chapter 11 Special Purpose Books II Other Book
Chapter 12 Bank Reconciliation Statement
Chapter 15 Provisions and Reserves
Chapter 16 Accounting for Bills of Exchange
Chapter 17 Rectification of Errors
Chapter 18 Financial Statements of Sole Proprietorship
Chapter 19 Adjustments in Financial Statements
Chapter 20 Accounts from Incomplete Records Single Entry System
Chapter 21 Computers in Accounting
Chapter 22 Accounting Software Tally
TS Grewal Solutions Class 12
TS Grewal Accountancy Class 12 Solutions Volume 1 2023-24
Click the following chapter-wise links to download Solutions of TS Grewal Class 12 2023-24.
Chapter 1 Financial Statement of Not-for-Profit Organisations
Chapter 2 Accounting for Partnership Firms Fundamentals
Chapter 3 Goodwill Nature and Valuation
Chapter 4 Change in Profit Sharing Ratio Among the Existing Partners
Chapter 5 Admission of a Partner
Chapter 6 Retirement of a Partner
Chapter 8 Dissolution of a Partnership Firm
TS Grewal Class 12 Solutions Volume 2 2023-24
Solutions for TS Grewal’s Double Entry Book Keeping Accounting for Companies: Textbook for CBSE Class 12 Volume 2
Chapter 8 Company Accounts Accounting for Share Capital
Chapter 9 Company Accounts Issue of Debentures
Chapter 10 Company Accounts Redemption of Debentures
Solutions for TS Grewal’s Analysis of Financial Statements: Textbook for CBSE Class 12
T.S. Grewal’s Analysis of Financial Statements: Textbook for CBSE Class 12 (2023-24 Session)
Chapter 1 Financial Statement of a Company
Chapter 2 Financial Statement Analysis
Chapter 3 Tools of Financial Statement Analysis
What are the advantages of TS Grewal Solutions 2023 2024:
- Really useful for students in standard 11 and 12 who are studying accountancy in commerce
- Students trying to find solutions for the questions given in the exercises at the end of each chapter can get there here on our website
- It is important to practice as many questions as possible as it will help you to get more marks in Accountancy exams. TS Grewal’s book has a lot of questions for practice which will help to make the foundation of accountancy stronger for all of you.
- Each chapter has a combination of MCQ-based, short-answer, long-answer, and practical numerical questions that the students can solve to help them gain more understanding of all topics and accounting concepts.
- We have provided explanation notes after each question so that students are able to understand the concepts easily.
TS Grewal Accountancy Class 11 Chapter Details
As the student opts for commerce as a stream in class 11, Accountancy is one of the most important subjects that the student has to study. The teachers usually recommend the TS Grewal Accountancy book which the student uses apart from the standard NCERT Class 12 Accountancy book. The book has been designed based on the latest syllabus which has been issued by CBSE. The book covers all important topics which are important to set up a strong foundation for accountancy students. Below are the details of all chapters given in TS Grewal Solutions Class 11 –
Chapter 1 Introduction of Accounting – This is the first chapter which provides an overview of the field of Accountancy and its relevance in today’s corporate world. It explains the basic concepts of accounting, such as accounting principles and standards, basics about double-entry system, and various accounting equations. The student will be able to understand basic accounting concepts which will help to build a strong base for Class 11 and future classes.
Chapter 2 Basic Accounting Terms – This chapter covers the basic accounting terms that are regularly used in the accounting world and are very important to understand for accounting students. The chapter provides a detailed overview of concepts relating to important topics like assets, liabilities, revenue, expenses, capital, and the accounting equations. Students will be able to build a stronger understanding of various accounting terms used.
Chapter 3 Accounting Standards and IFRS – This chapter provides basic understanding relating to Accounting Standards and IFRS (International Financial Reporting Standards). As accounting standards and IFRS set up the basic principles based on which accounting is done, it is important for students to get basic understanding. The chapter also provides high level difference between Indian GAAP (Generally Accepted Accounting Principles) and IFRS and the advantages and challenges of adopting IFRS.
Chapter 4 Bases of Accounting – This chapter provides details relating to various bases of accounting, such as cash basis, accrual basis, and hybrid basis. It also provides details relating to advantages and disadvantages of each basis and how to choose the appropriate basis for different types of transactions.
Chapter 5 Accounting Equation – Chapter 5 of TS Grewal’s Class 11 Accountancy book introduces students to the concept of the accounting equation which are regularly used in accounting. The chapter explains how the accounting equations have to be used and how they represents the relationship between assets, liabilities, and owner’s equity. It also explains how the accounting equations are used to prepare financial statements. Students will easily learn how to apply various accounting equations to solve questions and balance financial transactions.
Chapter 6 Accounting Procedures Rules of Debit and Credit – This chapter explains the concept of double-entry accounting, the meaning of debit and credit, and the rules for their application in different types of accounts. It also provides examples and practice questions to help students understand and apply these rules effectively in accounting transactions
Chapter 7 Origin of Transactions – In this chapter students will learn how the accounting transactions are originated. It explains the type of source documents that are required to pass accounting entries. Students will be able to understand how to understand the documents and what type of entries to be passed.
Chapter 8 Journal – By reading this chapter, students will be able to understand the meaning fna importance of passing journal entries. Journal is a book of prime entry, also called as book of original entry in which transaction are first recorded in a sequence. Journal is called the Book of Original Entry since all transactions are initially recorded in it.
Chapter 9 Ledger – This chapter explains the process of maintaining a ledger, its different types, and how to post entries in a ledger.
Chapter 10 Special Purpose Books I Cash Book – provides details about on Special Purpose Books, specifically the Cash Book and explains concepts relating to types of cash books, the format of a cash book, and how to record transactions in a cash book.
Chapter 11 Special Purpose Books II Other Book – this chapter explains about different types of subsidiary books used in accounting, such as purchase return book, sales return book, and bills receivable book, etc. and their advantages and disadvantages.
Chapter 12 Bank Reconciliation Statement – Students will be able to get basic understanding about Bank Reconciliation Statement. Important topics such as importance of bank reconciliation, process for preparing, and how to identify and categorize the reasons of differences between the bank balance and the bank book balance.
Chapter 13 Trial Balance – In this chapter students will be able to understand the concept of Trial Balance, its objectives, and the method of preparation. Students will also learn about mistakes that may occur during the preparation of Trial Balance and its rectification.
Chapter 14 Depreciation – This chapter talks about the different methods of calculating depreciation, the accounting treatment of depreciation, and the effect of depreciation on the financial statements. You will be able to learn basic steps to calculate depreciation.
Chapter 15 Provisions and Reserves – This chapter explains the meaning and types of provisions and reserves and also covers the accounting treatment for specific provisions like Provision for Doubtful Debts, Provision for Depreciation, and Provision for Taxation, etc.
Chapter 16 Accounting for Bills of Exchange – You will be able to understand nature and types of bills of exchange, the accounting treatment, and various terms and calculations involved in the accounting process. We have provided solutions to all practical questions given in the chapter.
Chapter 17 Rectification of Errors – This chapter explains the various types of errors that can occur while recording transactions in financial books, and the ways by which you can identify and correct the errors. Understand the impact of errors on Trial Balance and other financial statements.
Chapter 18 Financial Statements of Sole Proprietorship – Students of Class 11 will learn how to prepare Trading and Profit and Loss Account and the Balance Sheet of a sole proprietorship firm.
Chapter 19 Adjustments in Financial Statements – This chapter covers various adjustments that need to be made to financial statements to various items such as closing stock, outstanding expenses, prepaid expenses, accrued income, etc. Questions relating to calculation of adjustments will come in exams.
Chapter 20 Accounts from Incomplete Records Single Entry System – This chapter explains the process to prepare trading and profit and loss accounts, and balance sheets from single entry records. Concept of converting single entry records into double entry records has also been explained in the chapter.
Chapter 21 Computers in Accounting – Covers topics such as latest accounting software, electronic spreadsheets, and databases. You will also be able to understand the advantages and limitations of using computers in accounting.
Chapter 22 Accounting Software Tally – In this chapter students are introduced to the practical aspects of using Tally for accounting function and also learn about the features and advantages of Tally, along with its various modules, such as accounting, inventory, payroll, and taxation.
TS Grewal Accountancy Class 12 Solutions Volume 1
Chapter 1 Financial Statement of Not-for-Profit Organisations – In this chapter students will be able learn about the process to prepare receipts and payments accounts, income and expenditure accounts, and balance sheets and other statements relating to non-profit organizations. Basic understanding about such organizations have also been provided in this chapter
Chapter 2 Accounting for Partnership Firms Fundamentals – This covers the concept of a partnership firm, its characteristics, and the different types of partnerships which exists. You will also learn about the accounting treatment based on partnership deeds, profit sharing ratios, revaluation of assets and liabilities, and distribution of profits. Lot of practical questions have been provided in this chapter; we have provided answers to all questions.
Chapter 3 Goodwill Nature and Valuation – In this chapter, students will learn about the concept of goodwill, its valuation, and accounting treatment in the books of the firm. The basic concepts relating to goodwill have been also explained in this chapter
Chapter 4 Change in Profit Sharing Ratio Among the Existing Partners – This chapter explains about the accounting treatment of change in the profit-sharing ratio among the existing partners of a partnership firm. You will understand about various methods for adjusting the capital accounts of the partners, including the gaining ratio and the sacrificing ratio because of change in profit sharing ratio.
Chapter 5 Admission of a Partner – Different methods of admission of a partner and its respective accounting treatment have been explained in this chapter. Also, concepts relating to valuation of goodwill, revaluation of assets and liabilities, and the adjustment of capital have been explained.
Chapter 6 Retirement of a Partner – This chapter explains the accounting treatment to be done during the retirement of a partner from a partnership firm. Different methods of calculating the amount payable to the retiring partner and sacrificing ratio and gaining ratio are also explained. There are lot of important questions relating to the process to adjust the capital accounts and distribute the profits or losses among the remaining partners.
Chapter 7 Death of a Partner – This is also an important chapter as it deals with accounting treatment to be done in the case of death of a partner. Students of class 12 will also learn different methods of calculating the deceased partner’s share, the adjustments required in the partnership accounts, and the how to distribute profits and losses among the surviving partners.
Chapter 8 Dissolution of a Partnership Firm – Settlement of accounts among partners and the distribution of assets and liabilities is an important step during the dissolution of a partnership firm. You will learn various modes of dissolution, such as dissolution by agreement, compulsory dissolution, and dissolution by court order in this chapter.
TS Grewal Class 12 Solutions Volume 2
Chapter 8 Company Accounts Accounting for Share Capital – TS Grewal Class 12 Chapter 8 covers the topic of accounting for share capital in company accounts. There are important concepts relating to types of shares, issue and redemption of shares, and accounting treatment for share capital related transactions. The chapter also includes lot of practical questions for which our teachers have provided answers here.
Chapter 9 Company Accounts Issue of Debentures – This explains concepts relating to covers the concept of debentures and their issue in company accounts. It explains the various types of debentures, their features, and the process of issuing them. The chapter also discusses the accounting treatment for the issue of debentures, including entries for their redemption and conversion.
Chapter 10 Company Accounts Redemption of Debentures – In this chapter you will find concepts relating to types of debentures, methods of redemption, accounting entries for redemption, and debenture redemption reserve. All solutions for this chapter have been provided by us and can be accessed for free by click on the link
TS Grewal Class 12 Solutions Analysis of Financial Statements
Chapter 1 Financial Statement of a Company – This chapter covers important topics such as balance sheets, profit and loss accounts, cash flow statements, and accounting ratios, etc which are really important to understand the financial reporting process of an organization. You will also get understanding relating to various financial statements used by companies
Chapter 2 Financial Statement Analysis – This chapter provides details relating to the importance, methods and limitations of financial statement analysis. It also explains how to interpret financial statements and use them for making your financial decisions.
Chapter 3 Tools of Financial Statement Analysis – The chapter provides detailed concepts relating to financial ratios and how to use them to assess a company’s financial performance.
Chapter 4 Accounting Ratios – In this chapter you will find concepts relating to various ratios like liquidity ratios, profitability ratios, solvency ratios, and activity ratios, and also the process calculate and understand them. There are lot of practical questions in this chapter for which we have provided solutions.
Chapter 5 Cash Flow Statement – Students must understand the process to make cash flow statements as it is an important statement which helps to understand the financial condition of a company. Easy to understand concepts have been provided in TS Grewal Class 12 Accountancy book relating to cash flow statements followed by lots of questions for practice.
Frequently Asked Questions by TS Grewal students
Mr. TS Grewal is one of the most renowned Indian authors and educators who has written books on accountancy for students studying in Class 11 and Class 12. He is known for his contributions to the field of commerce and finance. His most popular books are written for commerce students.
The most popular books written by TS Grewal include “Accountancy”, “Double Entry Book Keeping”, and “Higher Secondary Accountancy”.
The book written by Shri TS Grewal can be bought from local books stores or you can even buy them on various online stores like Amazon and Flipkart.
On our portal www.tsgrewalsolutions.com we have provided answers to all questions given in the accountancy book written by TS Grewal. All solutions provided are free for all students.
Accountancy is an important subject for Class 11 and Class 12 commerce students as it basically is a basic understanding of financial accounting principles. This basic understanding is necessary for managing and analyzing financial transactions and statements. This knowledge is essential for students who are planning to pursue a career in commerce or business. This will be very useful in various fields such as finance, banking, and management. It also helps students develop critical thinking and problem-solving skills. Due to this reason, Accountancy is taught from Class 11 and Class 12 onwards. This helps the students to get basic learning and becomes easier to learn advanced concepts in senior classes
The Accountancy book by Mr. T.S. Grewal is widely used by students in Class 11 and Class 12 preparing for commerce and Accountancy. The book is considered to be a very comprehensive and helpful resource for understanding basic accounting principles and concepts. Students and teachers find the book to be well written and easy to understand as all concepts have been clearly explained with a lot of solved example questions.