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TS Grewal Solutions for Class 11 & 12 Accountancy

Last updated date: 26th Jun 2024
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Download Important TS Grewal Solutions for Class 11 & 12 Accountancy Free PDF from Vedantu

TS Grewal books are considered to be the best books for students studying Accountancy in the Commerce field as it has been written by TS Grewal and his team, an eminent educationist in the field. Students and teachers alike recommend this book to everyone for its simple language and approach to explaining concepts which makes studying easier and smoother. Accountancy is one of the compulsory subjects in Commerce. Many students like Accountancy as it is a scoring subject. In the 11th and 12th standard Accountancy syllabus majorly helps students to learn about the basics of accounting while learning to document, analyze and report financial activities in business.

In Classes 11 and 12, students will learn Accountancy. The knowledge that students gain will also help them pave their way in many well-paying and professionally satisfying careers. The TS Grewal books are widely read and are well-known among Commerce students. In addition to the textbooks, students can also use TS Grewal Solutions in their studies and exam preparation.

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Class 11 & 12 - TS Grewal Accountancy Chapterwise Solutions

TS Grewal Accountancy solutions provide appropriate, to-the-point and simple answers to accountancy problems. Class 11 and 12 students can refer to the TS Grewal accountancy solutions to boost their exam preparations. Apart from the textbooks, they can thoroughly read the solutions to understand accountancy lessons better. The TS Grewal Accountancy PDF for Classes 11 and 12 is available on Vedantu's official website and can be accessed at all times.

Features of TS Grewal Solutions

1. TS Grewal solutions are designed as per the latest CBSE syllabus

2. TS Grewal solutions are written in simple, easy-to-understand language. Hence, even students who are weak in accounting can use it to solve questions on their own. 

3. These solutions are a great resource for practice and revision. 

4. These solutions are written by professionals in the field. Hence, students can be assured that the answers are accurate.

5. TS Grewal solutions are a great resource for exam preparation.  Even difficult questions are answered in an easy-to-follow manner and these solutions make studying accounting a lot simpler. 

6. The solutions are organized in a chapter-wise format.

7. Students don’t need to pay a penny to access these useful resources. It is completely free to download. 

TS Grewal Solutions Class 11 & 12 Accountancy Chapters 

The chapters included in the Class 11 accountancy TS Grewal solutions are:

Chapter 1: Basic Accounting Terms

It includes a brief about common accounting terms and sums used for calculating the total expenses of a company.

Chapter 2: Accounting Equation

The 2nd chapter of TS Grewal Solutions PDF includes the implementation of accounting equations. Sums based on the formula of calculating capital, liabilities, assets are included in this chapter.

Chapter 3: Accounting Procedures- Rules of Debit and Credit

This chapter in the TS Grewal Accountancy Solutions teaches how to classify different transactions into debit and credit accounts. There are 13 questions in the 3rd chapter.

Chapter 4: Origin of Transactions- Source Documents and Preparation of Voucher

Here, you get accurate solutions on how to prepare vouchers, including the following:

  • Purchase Voucher

  • Wages Voucher

  • Bank Voucher

  • Sales Voucher

  • Repairs Voucher

  • Postage Voucher

  • Cash Voucher

  • Salary Voucher

  • Commission Voucher

Chapter 5: Journal

The 5th lesson in the solutions of accounts TS Grewal details all about journals, how to make journal entries, and find the aggregates from it.

Chapter 6: Ledger

Here you learn how to classify accounting ledger in cash, receivables, investments, expenses, deposits, etc.

Chapter 7: Special Purpose Books 1 - Cash Book

In this chapter of TS Grewal Accountancy solutions, you get expert solutions on cash book entries, transactions, and aggregates. There are a total of 7 numerical sums in this chapter.

Chapter 8: Special Purpose Books 2 – Other Books

Solutions given here are related to journal entries on a purchase book. You get 7 numerical solutions in this chapter.

Chapter 9: Bank Reconciliation Statement

It briefs various transaction details on a bank reconciliation statement.

Chapter 10: Trial Balance

TS Grewal Accountancy solutions in Chapter 10 teaches students how to calculate the trial balance on different transactions.

Chapter 11: Depreciation

A formula to calculate depreciation with machine cost, scrap value, or asset life, is given in this chapter. Solutions based on the rate of depreciation are also provided in this.

Chapter 12: Accounting for Bills of Exchange

This chapter gives accurate solutions on account entries of bills of exchange where a drawer, a drawee, and a payee are involved.

Chapter 13: Rectification of Errors

TS Grewal Solutions in this chapter show how to manage and rectify entry errors in an account and then find the aggregates.

Chapter 14: Financial Statements of Sole Proprietorship

The 14th chapter is about calculating transaction aggregates in a trading account as well as profit and loss accounts of a sole proprietorship.

Chapter 15: Adjustments in Preparation of Financial Statements

This chapter of TS Grewal Accountancy Solutions briefs about capital expenditure, revenue expenditure, etc. It also has solutions on how to find a gross profit, cost of goods sold (COGS), net sales, operating profit, etc.

Chapter 16: Accounts from Incomplete Records – Single Entry System

It gives accurate solutions on finding net annual profit, net capital, etc. on the basis of incomplete entries in an account.

Chapters included in the TS Grewal Accountancy Solutions for Class 12

Now, let’s look at what’s included in the accountancy lessons of Class 12 TS Grewal Solutions:

Chapter 1: Company Accounts Financial Statements of Not-for-Profit Organisations 

The very first chapter of this solution book teaches you how to find out gross payments, liabilities, and the outgo of non-profit organizations.

Chapter 2: Accounting for Partnership

The second chapter of TS Grewal Accountancy Solutions discusses how accounts are managed in a partnership firm.

Chapter 3: Goodwill Nature and Valuation

In this chapter, you learn how to estimate the goodwill of a company by using average profit, and total years of purchase.

Chapter 4: Change in Profit-sharing Ratio among the Existing Partners

Here you learn about old ratio, new ratio, sacrificing ratio, gaining ratio, and how they are impacted by the change in profit-sharing ratio.

Chapter 5: Admission of a Partner

In this chapter of TS Grewal Accountancy Solutions, there are solutions depicting how the entry of a new partner in a firm brings changes in its accounts.

Chapter 6: Retirement or Death of a Partner

It details how the share of profit changes between partners if a co-partner retires, dies, or withdraws from the firm.

Chapter 7: Dissolution of Partnership Firm

This chapter contains solutions based on transactions, if and when a partnership firm gets dissolved.

List of Chapters from Volume 2 of the TS Grewal Accountancy Solutions:

Chapter 8: Accounting for Share Capital

It teaches the distribution of capital among partners in a firm.

Chapter 9: Issue of Debentures

Solutions in this chapter brief about entries and issues of debentures.

Chapter 10: Redemption of Debentures

Here you learn about the redemption of debentures that are done to protect the interest of debenture holders.

FAQs on TS Grewal Solutions for Class 11 & 12 Accountancy

1. How Many Parts are there in TS Grewal Class 12 Accountancy Solutions?

Class 12 Accountancy Solutions by TS Grewal contains two Volumes. Volume 1 has seven chapters related to partnership deals. Volume 2 has three chapters based on debentures. In Volume 1, students will learn about the accounting practices of not-for-profit organizations. Students will learn what changes take place in the accounts of a business when a new partner joins or at the time of retirement/ death of a partner. You will also learn about accounting for partnership firms and many other new and exciting concepts. In Volume 2, there are three chapters namely- Accounting for share capital, Issue of Debentures, Redemption of Debentures.

2. How Many Chapters are there in Class 11 TS Grewal Accountancy Solutions?

Class 11 TS Grewal Accountancy Solutions contains 16 chapters in total. In class 11, students are introduced to Accountancy for the first time. Students learn the basics of accounting and get a broad understanding of it. Students learn basic accounting terms, equations, and procedures. In addition to this, you will also learn about journals, ledgers, bank reconciliation statements, trial balances, depreciation, and a lot more.  These solutions are organized in a systematic format and you can download the PDF of these chapters online.

3. What are the Chapters in Volume 1 of TS Grewal Accountancy Solutions for Class 12?

There are seven chapters in Volume 1 of the TS Grewal Accountancy Solutions for Class 12. Chapters included in the first volume of TS Grewal Accountancy Solutions are based on partnership. The names of the chapters are Company Accounts Financial Statements of Not-for-Profit Organisations, Accounting for Partnership, Goodwill Nature and Valuation, Change in Profit-sharing Ratio Among the Existing Partners, Admission of a Partner, Retirement or Death of a Partner, and Dissolution of Partnership Firm. Students can download the solutions for all the chapters and then access them whenever needed.

4. Can I use TS Grewal Accountancy Solutions for exam preparation?

Yes, students can definitely use TS Grewal Accountancy Solutions while preparing for exams. These solutions are prepared by professionals in the field. Thus, students can rest assured that the content is accurate. These solutions are clear, precise, and easy to follow. Students can use it while practicing questions from the textbook. If you have any trouble, you can look at the solution and then try to answer the question again. Additionally, students can also use these solutions for their last-minute revisions.

5. How can I access TS Grewal Accountancy Solutions?

To gain access to these useful resources, students simply need to download them. First, students should register on the Vedantu website or app and that’s it. Now you can access TS Grewal Accountancy Solutions for free. Students can download the pdf and then use the solutions for their practice sessions. These solutions are organized in a chapter-wise format and are written in easy-to-understand language. Additionally, students can also make use of several other study resources available on the Vedantu website or app.