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TS Grewal Class 11 Accountancy Chapter 7 Cashbook Solutions

TS Grewal Class 11 Accountancy Chapter 7 Cashbook Solutions

Q: 6. What is the imprest system for a Petty Cash Book as explained in TS Grewal's solutions?

The imprest system is a method used to manage small, routine expenses. Under this system, the petty cashier is given a fixed amount of cash (known as 'imprest') at the beginning of a period. The cashier makes all petty payments out of this fund and records them in the Petty Cash Book. At the end of the period, the head cashier reimburses the exact amount spent, bringing the petty cash balance back up to the original imprest amount. These solutions explain how to prepare an analytical petty cash book using this system.

Q: 7. What are some common mistakes students make when preparing a Cash Book, and how can these solutions help?

Common mistakes include:Incorrectly recording contra entries or forgetting to write 'C' in the ledger folio column.Confusing trade discounts (not recorded) with cash discounts (recorded).Errors in balancing the cash and bank columns, especially with an overdraft.Posting personal drawings as a business expense.The detailed TS Grewal Class 11 Accountancy Chapter 7 Solutions provide clear, step-by-step workings for each problem, highlighting the correct treatment of complex transactions and helping students avoid these common pitfalls.

Class 11 Accountancy TS Grewal Solutions Chapter 7 - Special Purpose Books I - Cash Book

Class 11 Accounts is an important subject for students to learn and understand for higher studies. Students need to create a strong foundation in this subject to be able to score well in their exams. With the help of TS Grewal Solutions, students will be able to successfully score good marks in their exams.

Accounts as a subject help students to understand how to allocate, record, and outline business transactions. Besides this, students will even understand how to draft a financial report based on the data recorded. This subject will even help students to understand how to create certain financial statements.

Class 11 Accountancy Chapter 7 in particular helps students to understand the basic concepts of cash books. A cashbookAccountancyareCertain transactions are related to disbursements and all the other cash receipts. Students need to understand all these concepts and topics to do well in their exams. TS Grewal Solutions helps students to do the same.

The TS Grewal solutions for class 11 accountancy chapter 7 is provided to students to help them prepare well in the exams and to offer as a guide to make notes and revisions. The TS Grewal accountancy solutions are a great resource for commerce students to get through all the basic and conceptualized topics of the chapter and to solve the doubts and queries of the chapter if any independently. These solutions are provided to students to go through the concepts and basics of the chapter and also assist in the preparation of revision notes.

These solutions are prepared by experts in the subject and have been designed as per the latest syllabus provided by NCERT for class 11 Accountancy. Students can download the TS Grewal solutions PDF for free with the link provided below.

Special Purpose Books I – Cash Book Class 11 Chapter 7 Accountancy TS Grewal Solutions

A cash book is like a subsidiary book that records only one type of transaction. If it’s a cash book, it will record all cash transactions. There are thousands of cash transactions recorded throughout the year. Maintaining them all is tedious work, for this reason, companies maintain Cash Books. Below are types of Cash Book:

Simple Cash Book: Also known as a single column cash book.
Two Column Cash Book.
Three Column Cash Book.
Petty Cash Book.

To go through the complete topic and to understand the basic concepts of the chapter, one may refer to class 11 TS Grewal solutions special purpose books I – cash book. The class 11 accountancy special purpose books I – cash book ensures better understandability of the chapter.

Class 11 accountancy special purpose books I – cash book, students get a better understanding of all the basic concepts. Students must go through all the fundamentals of the chapter that the book offers. To understand further better, one may download class 11 accountancy TS Grewal solutions chapter 7 free pdf.

In accountancy class 11 TS Grewal solutions chapter 7 solution is provided to the students keeping in mind the queries and doubts faced by students. Students get a better understanding further as they go through the chapter concepts easily.

Class 11 Accountancy TS Grewal Solutions Chapter 7 - Special Purpose Books I - Cash Book Concepts

Students need to learn and understand all the concepts and topics available in Chapter 7 Class 11 Accountancy to score well in their exams. Some of these concepts include:

Analytical Petty Cash Book
Double Column Cash Book
Single Column Cash Book
Two Column Cash Book
Prepare Cash Book

These concepts are available in the TS Grewal Solutions. To help students to understand the concepts better, there are many questions and exercises provided in the TS Grewal Solutions that students can refer to.

What is Cash Book?

The business's all-cash transactions will be recorded in Cash Book. All monetary payments and receipts are recorded in this book. It's called the book of initial entries because it's where we first record all cash transactions before posting them to the various ledger accounts.

Types of Cash Books

There are a total of four types of cash books. These include:

Single Column Cash Book

Because it is identical to a cash account, this form of cash book is relatively straightforward. On both sides, there is simply one column. All receipts are listed on the debit side of the cash book, and all payments are listed on the credit side.

Double Column Cash Book

On both sides of the cash book, the Double Column CashBook features two account columns. There are three types, as indicated below:

Columns for Bank and Cash
Discounted and Cash Columns
Discounted and Bank Columns

It's a one-of-a-kind entry book. As a result, we must record the entire transaction; yet, with a single column cash book, it is impossible to accurately record cash transactions that include a discount account. As a result, a discount and cash column are required.

Triple Column Cash Book

Every business person should have at least one bank account. It is extremely handy for him to get paid by check and to make payments to others by check. As a result, he must record these payments and receipts in the cashbook, which will necessitate the creation of a name bank column. As a result, a total of three columns will be required in the cashbook to record accurate payments and receipts, as seen below.

Bank Column
Discount Column
Cash Column

Petty Cash Book

For tiny expenses, the head cashier gives a petty cashier some money. The petty cashier prepares a petty Cash Book for a head cashier, which is a statement of payments made for small expenses over a set period of time.

The following types of cash payment are available to the Head Cashier:

When It's Required
For a set period of time, a specific amount is paid.
When a deposit is made on the head cashier's account

There are two types of petty cash books:

Petty Cash Book (Simple)
Petty Cash Book with Columns

Why should students choose TS Grewal Solutions for Class 11 Accountancy?

TS Grewal’s solution for class 11 accountancy helps students immensely to understand and practice more and more questions of accounting. These solutions not only help to understand the concepts of the chapter but also ensure that there is no scope of raising doubts amongst students. The TS Grewal solutions are curated by subject experts, hence leaving no doubt on uncleared questions. One should consider learning from TS Grewal solutions class 11:

The solutions cover the majority of topics.
It is solved chapter wise, which ensures no confusion while revision.
It is provided according to the CBSE pattern, which ensures the same question pattern as the exam.
Easy to learn all concepts by students independently.
Important concepts are highlighted for students which ensures an overview of the chapter while revising before exams.

Preparation Tips for TS Grewal Accountancy Class 11:

In class 11 accountancy is the newly introduced subject amongst other pools of subjects. Understanding the concepts and basics of the subject is extremely helpful. Below listed are some of the points which need to be looked upon while preparing for the class 11 accountancy exam:

Board exams are based on the latest CBSE syllabus, and give more emphasis on solving more and more questions.
Understand the proper meaning of definitions and also try to figure out the logic and concept used.
Ensure that properly written practice is done, only memorizing and understanding won't do with the exams.
Focus more on advantages, disadvantages, and features. These are frequently asked in board exams.
Do not ever mug up the formulas, try figuring out how the formula was derived and understand the concept behind that.

Reasons why Vedantu is the Best for TS Grewal Solutions for Accountancy Class 11:

Getting introduced to this vast stream. Understanding concepts and basics are quite essential at this stage. Vedantu provides TS Grewal solutions for class 11 accountancy to help students in understanding both theories certain transactions are free to access study materials. The study material ensures to ease the difficult questions in an easy and interesting manner by solving through examples. They prove to be of utmost benefit to students in completing their homework and preparing revision notes independently.

FAQs on TS Grewal Class 11 Accountancy Chapter 7 Cashbook Solutions

1. What types of practical problems in TS Grewal's Chapter 7 on Cash Book are solved here?

These solutions provide step-by-step guidance for all practical problems in Chapter 7 of the TS Grewal Class 11 Accountancy textbook. This includes questions on preparing a Simple Cash Book, a Double-Column Cash Book (with cash and bank columns), and a Petty Cash Book using the imprest system. The solutions cover various transactions, including cash sales, bank deposits, withdrawals, and contra entries.

2. How do the TS Grewal solutions for Chapter 7 align with the latest CBSE 2025-26 syllabus?

The solutions for TS Grewal Class 11, Chapter 7, are fully aligned with the CBSE syllabus for 2025-26. The syllabus specifies the study of 'Special Purpose Books I - Cash Book', including simple, double-column, and petty cash books. These solutions explain the exact methods and formats prescribed by the CBSE, ensuring you prepare correctly for your exams. You can review the complete CBSE Class 11 Accountancy Syllabus 2024-25 for more details.

3. How does a Cash Book function as both a book of prime entry (journal) and a ledger?

A Cash Book serves a dual role in accounting. It is considered a book of prime entry because all cash transactions are first recorded in it chronologically, just like a journal. Simultaneously, it acts as a ledger account because it maintains a classified record of cash receipts (debit side) and cash payments (credit side), providing the final cash balance. This eliminates the need to open a separate 'Cash Account' in the general ledger.

4. What is the fundamental difference between a Simple Cash Book and a Double-Column Cash Book?

The fundamental difference lies in the number of amount columns and the types of transactions they record.

A Simple Cash Book has only one amount column on each side to record only cash transactions.
A Double-Column Cash Book has two amount columns on each side: one for cash and one for bank. This allows a business to record all transactions involving both cash and the bank in a single book, providing a complete picture of liquid funds. You can explore the various types of Cash Books for a deeper understanding.

5. Why are contra entries not posted to the general ledger?

Contra entries are transactions that affect both the cash and bank columns of a double-column cash book, such as depositing cash into the bank or withdrawing cash for office use. Since the Cash Book itself acts as the ledger for both cash and bank accounts, both the debit and credit aspects of the transaction are completed within the Cash Book itself. Therefore, no further posting to the general ledger is required, as this would result in a redundant double-posting of the same entry.

6. What is the imprest system for a Petty Cash Book as explained in TS Grewal's solutions?

The imprest system is a method used to manage small, routine expenses. Under this system, the petty cashier is given a fixed amount of cash (known as 'imprest') at the beginning of a period. The cashier makes all petty payments out of this fund and records them in the Petty Cash Book. At the end of the period, the head cashier reimburses the exact amount spent, bringing the petty cash balance back up to the original imprest amount. These solutions explain how to prepare an analytical petty cash book using this system.

7. What are some common mistakes students make when preparing a Cash Book, and how can these solutions help?

Common mistakes include:

Incorrectly recording contra entries or forgetting to write 'C' in the ledger folio column.
Confusing trade discounts (not recorded) with cash discounts (recorded).
Errors in balancing the cash and bank columns, especially with an overdraft.
Posting personal drawings as a business expense.

The detailed TS Grewal Class 11 Accountancy Chapter 7 Solutions provide clear, step-by-step workings for each problem, highlighting the correct treatment of complex transactions and helping students avoid these common pitfalls.

8. How should a cheque received from a customer be treated in the Cash Book if it is not deposited on the same day?

When a cheque is received but not deposited on the same day, it is not immediately recorded in the bank column of the Cash Book. Instead, it is treated as a 'Cheque-in-Hand', a current asset. No entry is made in the Cash Book on the date of receipt. When the cheque is later deposited into the bank, it is recorded as a deposit by debiting the bank column and crediting the 'Cheques-in-Hand' account through a journal entry. These solutions clarify such specific scenarios with practical examples.