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TS Grewal Solutions for Class 12 Accountancy

Last updated date: 26th Jun 2024
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Download Important TS Grewal Accountancy Solutions for Class 12 Free PDF from Vedantu

TS Grewal Solutions for Class 12 Accountancy is an important study material for Class 12 Commerce students. TS Grewal Class 12 Accountancy Solutions are created by expert teachers and are the best study resource to refer to while preparing for examinations. Revisions can get quite tricky when it comes to Accountancy lessons. It requires students to manage time, increase accuracy, and cut down on silly mistakes. This is where TS Grewal Class 12 Solutions can help you. The solutions have an apt and detailed approach. Not only can you practice them easily, but you can also refer to these solutions for last-minute revisions.

TS Grewal Accountancy Solutions for Class 12 PDFs are available in a chapter-wise format and can be downloaded from Vedantu for free. Each chapter has error-free solutions and is designed according to the latest CBSE guidelines so that students do not get confused.

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Why Should You Study From the TS Grewal Solutions?

  • TS Grewal Solutions are written in an understandable and straightforward manner. It makes studying accounting a lot easier and enjoyable for students.

  • These solutions are designed as per the latest CBSE syllabus and guidelines.

  • With these solutions, students can put their accounting skills to a test. If they face any trouble, they can look at the solution and then try solving it again. 

  • It includes in-depth solutions that will build a student’s knowledge of accounting. Simple and clear answers are given even to the most difficult questions

  • These solutions are one of the best resources for Class 12 board exam preparation. It includes a range of questions and can be used in your daily study sessions as well as during revision. 

  • It is arranged in a chapter-wise format and includes answers to every question in the TS Grewal textbook.

  • It is easily accessible for absolutely no charge.

TS Grewal Solutions for Class 12 Accountancy - Volume 1 & Volume 2

TS Grewal Class 12 PDF 2024-25 has two volumes. Volume 1 has seven chapters, while Volume 2 has three.

TS Grewal Solutions Class 12 Accountancy Volume 1 Chapters List

  • Chapter 1 Company Accounts Financial Statements of Not-for-Profit Organizations

  • Chapter 2 Change in Profit- Sharing Ratio Among the Existing Partners

  • Chapter 3 Goodwill Nature and Valuation

  • Chapter 4 Retirement or Death of a Partner

  • Chapter 5 Accounting for Partnership Firms - Fundamentals

  • Chapter 6 Admission of a Partner

  • Chapter 7 Dissolution of a Partnership Firm

TS Grewal Solutions Class 12 Accountancy Volume 2 Chapters List

  • Chapter 8 Accounting for Share Capital

  • Chapter 9 Issue of Debentures

  • Chapter 10 Redemption of Debentures

Short - Brief of the Chapters of Class 12th TS Grewal Solutions

Here is a short summary of what is included in each chapter of TS Grewal Solutions:

1. Company Accounts Financial Statements of Not-for-Profit Organizations

Not-for-profit organizations are entities that do not have profit goals. They usually work for social causes or public benefit. Such organizations are also called non-business entities. Due to the absence of a profit agenda, the accounting method of these entities is different.

In the first chapter of TS Grewal Class 12 Solutions 2024-25 volume 1, students will be taught how to calculate the receipts, liabilities, payments, etc. of such organizations.

2. Accounting for Partnership Firms- Fundamentals

Partnership firms are such entities where two or more individuals agree to share business profit, risk, liabilities, and responsibilities. Partnerships are governed by the norms of the Partnership Act of 1932.

This chapter explains dispute settlement and then proceeds to numerical sums. Students will learn to calculate profit distribution, capital interest, manager’s commission, and so on in this chapter.

3. Goodwill Nature and Valuation

Goodwill can be said to be the reputation earned by a firm over the years. Firms that have been functioning for a long time manage to earn a good reputation in the market. This reputation later finds valuation in monetary terms.

Although goodwill is an intangible factor, it is usually considered as an asset to the company. In this chapter of TS Grewal Class 12 Solutions 2024-25 volume 1, you learn how goodwill is estimated in a business.

4. Change in Profit- Sharing Ratio among the Existing Partners

When partners agree upon a contract, they mutually decide to share a certain part of the company’s profit among themselves. To estimate their share of profit, a profit-sharing ratio is decided. This ratio might depend on various factors. In chapter 4 of class 12 Accountancy TS Grewal Solutions, you get to understand how sacrificing ratio, profit-sharing ratio, gaining ratio, etc. are calculated. 

5. Admission of a Partner

The share of already-existing partners often gets affected when a new partner joins the firm. In the 5th chapter, it is discussed how the profit shares of old partners change as a result of a new partner’s entry. There are 25 questions and solutions in this chapter.

6. Retirement or Death of a Partner

Agreements in a partnership contract change when a partner retires, dies or withdraws from the business. In any such case, the prior accounts will have to be settled and new profit ratios will have to be calculated.

7. Dissolution of a Partnership Firm

At some point, a partnership firm might decide to stop its business. The reason could be anything, starting from debt to management troubles. However, when such a thing happens, the accounts of partners are to be settled as per the contract agreements. In this chapter of TS Grewal Class 12 Solutions, you learn how an account settlement is done in case of firm dissolution.

The Following Three Chapters constitute the TS Grewal Class 12 Volume 2:

8. Accounting for Share Capital

There are seven questions and answers in this chapter, through which you learn accounting for share capital.

9. Issue of Debentures

Debentures are nothing but debt instruments. These are issued for loans by different companies or governments. The issue of debenture is similar to the issuing of shares in a business. It depends on the reputation of a particular company.

10. Redemption of Debentures

The last chapter in TS Grewal class 12 solutions 2024-25 is about debenture redemption. The method of discharging a firm’s debt is called the redemption of debentures. It is the reimbursement of debentures by a company to the concerned debenture holders.

TS Grewal Accountancy Class 12 Solutions 2024-25 volume 1 and volume 2 must be thoroughly studied if you wish to score your best in the exams. Download the PDF of these solutions for reference.

Important Topics Links

In the following link, you will get all the important topics and study material of commerce for Classes 11 and 12. Click on the link below to visit the page.

Commerce Related Links

FAQs on TS Grewal Solutions for Class 12 Accountancy

1. What are the chapters based on partnership in TS Grewal solutions?

The chapters in TS Grewal which are based on partnership are Accounting for Partnership Firms (Fundamentals), Goodwill Nature and Valuation, Change in Profit-Sharing Ratio among existing partners, Admission of a partner, Retirement or death of a partner, and Dissolution of a partnership firm. These chapters are covered in Volume 1 of TS Grewal class 11 accountancy solutions. Students can access these chapters on the Vedantu app or website . All students need to do is register and then download the chapter-wise PDFs for free.

2. How many chapters are there in TS Grewal Accountancy solutions Volume 2?

There are 3 chapters in Volume 2 of TS Grewal Accountancy Solutions. The names of the chapter are Accounting for Share Capital, Issue of Debentures, and Redemption of Debentures. Students learn all about the importance of share capital, the meaning, types, and issue of debentures. In the last chapter, students learn about the meaning, time required, sources, and methods of redemption of debentures The chapters in volume 2 are based on what is learned previously. Hence, students must follow the textbook in order.

3. What is there in the Goodwill chapter of TS Grewal Accountancy Solutions?

Goodwill can be explained as the reputation or rapport a company earns through its business, performance, and presence. In Goodwill - Nature and Valuation, students will learn about the meaning of goodwill, the factors affecting it, the need for valuing it, and methods of valuing goodwill.  Goodwill is an important factor that is to be considered when a partner joins a firm. In the Goodwill chapter of TS Grewal Accountancy Solutions, there are 30 solutions to sums based on goodwill evaluation.

4. Where can I download TS Grewal Solutions for Class 12 Accountancy?

Students can easily access TS Grewal solutions for Class 12 accountancy on the Vedantu app and website. You first need to register with Vedantu and then you simply need to download the solutions. The solutions are available in PDF format and arranged chapter-wise. It is completely free and you don’t need to pay anything to access these handy resources. In addition to using the solutions, students can also use many other helpful study resources available on Vedantu for their class 12 accountancy exam.

5. How should I prepare for my Class 12 Accountancy exam?

It is best to start preparing for your Class 12 accountancy exam well in advance. Follow your textbook in sequence as what you learn in each chapter builds on what you learned previously. In order to get better at anything, it is necessary to practice. You can start practicing with the solved examples and then move on to other questions in your textbook. If you’re stuck while answering a question, you can look at the explanation in the TS Grewal solutions.