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Class 11 Accountancy Chapter 5 Trial Balance Solutions - TS Grewal Solutions

Commerce

Class 11 Accountancy Chapter 5 Trial Balance Solutions - TS Grewal Solutions

Chapter 5 Class 11 Accounts TS Grewal Solutions - FREE PDF Download

Chapter 5 of Class 11 Accounts in TS Grewal focuses on the Accounting Equation, a crucial concept for understanding how financial transactions impact a business. This guide provides Class 11 Accounts Chapter 5 TS Grewal Solutions to help students understand and practice the topic thoroughly.

What is The Accounting Equation?

The accounting equation is the foundation of accounting and is expressed as:

Assets = Liabilities + Capital

This equation ensures that every transaction maintains the balance between the resources of a business (assets), its obligations (liabilities), and the owner’s investment (capital).

Chapter 5 Class 11 Accounts TS Grewal Solutions - Rules and Practical Applications

Rules for Debit and Credit

Personal Account: Debit the receiver, Credit the giver.
Real Account: Debit what comes in, Credit what goes out.
Nominal Account: Debit all expenses/losses, Credit all incomes/gains.

Effect of Transactions on the Accounting Equation
Every financial transaction affects at least two accounts, ensuring the equation remains balanced.
Practical Examples with Solutions
Below are step-by-step solutions to practical problems from Chapter 5 Class 11 Accounts TS Grewal Solutions.

Class 11 Accounts TS Grewal Solutions Chapter 5 Practical Problems

Question 1: What will be the effect of the following transactions on the Accounting Equation?

Started business with cash ₹80,000.
Purchased goods for ₹30,000 on credit from M/s Gupta Traders.
Deposited ₹10,000 in the bank.
Paid ₹5,000 to M/s Gupta Traders in cash.
Sold goods for ₹20,000 (cost price ₹12,000) on credit to M/s Sharma.

Question 2: Show the effect of the following transactions in the Accounting Equation:

Commenced business with cash ₹60,000 and furniture worth ₹20,000.
Purchased machinery for ₹25,000 by cheque.
Purchased goods worth ₹18,000, half in cash and half on credit.
Sold goods for ₹30,000 (cost price ₹20,000), received cash.
Paid rent ₹2,500 and salary ₹5,000 in cash.

Question 3: Prepare an accounting equation for the following transactions:

Started business with ₹1,00,000 in cash.
Purchased furniture worth ₹15,000 and paid via cheque.
Bought goods worth ₹50,000, out of which ₹20,000 was paid in cash and the remaining on credit.
Sold goods for ₹40,000 (cost price ₹25,000), received cash.
Paid ₹5,000 as wages and ₹3,000 as electricity expenses in cash.

These are the types of questions solved in Chapter 5 Class 11 Accounts TS Grewal Solutions, helping students master the concept.

Class 11 Accounts TS Grewal Chapter 5 Solutions

Practice Problem 1 Solution

S.No	Transactions	Cash (₹)	Bank (₹)	Stock (₹)	Creditors (₹)	Capital (₹)
1	Started business with cash ₹80,000	80,000	0	0	0	80,000
2	Purchased goods for ₹30,000 on credit	80,000	0	30,000	30,000	80,000
3	Deposited ₹10,000 in the bank	70,000	10,000	30,000	30,000	80,000
4	Paid ₹5,000 to creditors	65,000	10,000	30,000	25,000	80,000
5	Sold goods for ₹20,000 (cost ₹12,000) on credit	65,000	10,000	18,000	25,000	92,000

Practice Problem 2 Solution

S. No.	Transactions	Cash (₹)	Bank (₹)	Stock (₹)	Creditors (₹)	Capital (₹)
1	Commenced business with cash ₹60,000 and furniture ₹20,000	60000	0	0	0	80000
2	Purchased machinery for ₹25,000 by cheque	60000	-25000	0	0	80000
3	Purchased goods worth ₹18,000, half in cash, half on credit	51000	-25000	18000	9000	80000
4	Sold goods for ₹30,000 (cost ₹20,000), received cash	81000	-25000	8000	9000	91000
5	Paid rent ₹2,500 and salary ₹5,000 in cash	73500	-25000	8000	9000	91000

Practice Problem 3 Solution

S.No	Transactions	Cash (₹)	Bank (₹)	Stock (₹)	Creditors (₹)	Capital (₹)
1	Started business with ₹1,00,000 in cash	1,00,000	0	0	0	1,00,000
2	Purchased furniture for ₹15,000 via cheque	1,00,000	-15,000	0	0	1,00,000
3	Bought goods worth ₹50,000 (₹20,000 cash, ₹30,000 credit)	80,000	-15,000	50,000	30,000	1,00,000
4	Sold goods for ₹40,000 (cost ₹25,000), received cash	1,20,000	-15,000	25,000	30,000	1,15,000
5	Paid ₹5,000 wages and ₹3,000 electricity expenses in cash	1,12,000	-15,000	25,000	30,000	1,15,000

Step-By-Step Approach to Chapter 5 Class 11 Accounts TS Grewal Solutions

To make solving problems easier, focus on:

Analyzing the transaction.
Applying the accounting equation.
Recording the changes to assets, liabilities, and capital.

Key Points of TS Grewal Solutions for Class 11 Accounts

This chapter focuses on building a strong foundation in accounting principles. Class 11 Accounts TS Grewal Chapter 5 Solutions are designed to help students:

Understand the dual aspect of transactions.
Learn how to maintain the balance in the accounting equation.
Solve real-life financial problems with ease.

Conclusion

Chapter 5 of TS Grewal for Class 11 focuses on the accounting equation, a vital concept for financial accounting. With consistent practice of Class 11 Accounts Chapter 5 TS Grewal Solutions, students can confidently solve practical problems and excel in their exams.

FAQs on Class 11 Accountancy Chapter 5 Trial Balance Solutions - TS Grewal Solutions

1. What does Chapter 5 of Class 11 Accounts TS Grewal Solutions cover?

Chapter 5 focuses on the Accounting Equation, explaining how various transactions impact assets, liabilities, and capital. It includes practical problems to help students understand the dual aspect of transactions.

2. Why is the accounting equation important in Class 11 Accounts Chapter 5 TS Grewal Solutions?

The accounting equation is essential because it forms the foundation of financial accounting, ensuring that all transactions maintain balance in the books of accounts.

3. Where can I find step-by-step solutions for Chapter 5 Class 11 Accounts TS Grewal Solutions?

You can find detailed and step-by-step solutions for all the questions in Chapter 5 in TS Grewal's book, as well as online resources like Vedantu, which provide organised and simplified solutions for students.

4. What types of practical problems are included in Class 11 Accounts TS Grewal Solutions Ch 5 Practical Problems?

The practical problems include transactions like starting a business, purchasing goods, paying expenses, receiving income, and maintaining the balance of the accounting equation.

5. How does Chapter 5 Class 11 Accounts TS Grewal Solutions help students prepare for exams?

This chapter builds a strong foundation for understanding financial transactions, making it easier to handle advanced topics like journal entries and ledger accounts in later chapters.

6. Are there any solved examples for practical problems in Class 11 Accounts TS Grewal Solutions Ch 5 Practical Problems?

Yes, the solutions include solved examples for each type of transaction, such as investments, purchases, expenses, and credit-based transactions, ensuring students get hands-on practice.

7. Can I download Chapter 5 Class 11 Accounts TS Grewal Solutions from Vedantu?

Yes, Vedantu offers a free PDF download of Class 11 Accounts TS Grewal Chapter 5 Solutions. Their resources are curated by experts and provide step-by-step solutions to make learning simple and effective.

8. How does Class 11 Accounts TS Grewal Chapter 5 Solutions explain the dual aspect of transactions?

This chapter explains that every financial transaction has a dual effect—debit and credit. For example, buying goods for cash reduces cash but increases stock.

9. What should I focus on while solving Class 11 Accounts TS Grewal Solutions Ch 5 Practical Problems?

Focus on identifying the affected accounts, applying the rules of debit and credit, and maintaining the balance in the accounting equation after each transaction.

9. Why are Class 11 Accounts Chapter 5 TS Grewal Solutions recommended for students?

TS Grewal's solutions are highly recommended because they provide clear, step-by-step guidance, making it easier to understand and solve practical problems, which is essential for Class 11 exams.