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TS Grewal Solution for Class 11 Accountancy Chapter 3

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Last updated date: 23rd May 2024
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Class 11 Accountancy TS Grewal Solutions Chapter 3 - Accounting Procedures - Rules of Debit and Credit

Class 11 TS Grewal Solutions Accounting Procedures Rules Of Debit And Credit is a major concept to be considered by the students and this useful guide has very helpful content that will enhance the knowledge of accounting. It comes with all the important points and will be very handy for the last-minute revision for the exam. This article is well organized and explained by the experts so that all the students find it as a one-stop for the exams. 

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Class 11 TS Grewal Solutions Accounting Procedures Rules Of Debit And Credit Topics

The following are the details touched upon in the third chapter of TS Grewal: 

  • The concept explained at the beginning of TS Grewal Solutions Class 11 Accountancy Chapter 3 will be the fundamental steps in the accounting process. The main topic which is important from the exam point of view is recording the transactions Journal and Ledger. It will keep the track of all credit and debits in our transactions. 

  • It will explain the concept of double accounting systems. The double accounting system means that there will be a track of 2 aspects of each transaction and this concept is explained very beautifully. It will cover all the rules of debit and credit and how they apply for both liability and capital. 

  • There is a very detailed explanation of entries of debit and credit to increase revenue, decrease expenses, record all the drawings, and the fresh capital which is introduced by the owner. 

  • These concepts included in Class 11 TS Grewal solutions Chapter 3 will not only be important from an exam point of view but also they will be very useful in our day to day life. 

  • Also, the important concept of Analysis of a transaction using the debit and credit entries is framed in a good format so that it will not create any confusion. The journal and ledger are explained using different examples of customers. 

  • The concept of source documents and vouchers is also explained in this article of Class 11 Accountancy Chapter 3 TS Grewal solutions.


Importance of learning from TS Grewal Solutions Class 11

Let us delve into the reasons for which students should start studying the TS Grewal Solutions:

  • Solutions are outlined by subject experts

  • Certain answers and cover all the topics

  • Solved chapter-wise

  • According to the advanced CBSE syllabus

  • Easy to learn all the concepts

  • Complete answers for each question

  • Available free of cost


Illustration

1. Classify the following as personal, real, and nominal accounts. 

Land  

Creditors 

Building

Goodwill

Bad Debts

Freight

Drawings


Personal

Real

Nominal

Creditors 

Land

Bad Debts

Drawings

Building 

Freight


Goodwill



Preparation Tips For Accountancy Class 11 Chapter 3 TS Grewal Solutions 

  • Class 11 TS Grewal solutions chapter 3 is very well curated material and can be useful to score very good marks in the exams. 

  • You can check Class 11 TS Grewal Solutions Chapter 3 to get good knowledge. 

  • Class 11 Accountancy Chapter 3 TS Grewal Solutions is filled with all the important concepts so that it will become very easy to know the pattern of questions asked in the exam. 

  • Clear all concepts about debit and credit, nominal and real accounts. These basics are very important. One needs to do accounts of 11th very nicely because they can ask questions from those concepts in your external viva in the 12th grade.

  • Try to do calculations quickly. Because this can help solve all the questions faster. Consistent speed is key. 

  • Let go of your calculator as being dependent on the calculator will not be helpful in the long run.

TS Grewal Solutions Class 11 Accountancy Chapter 3 is helpful and can be very handy during the exams. Class 11 TS Grewal Solutions Chapter 3 also contains many numerical questions regarding the journal and ledger. There are many examples included in this solution. Studying hard is always different from studying smart, and since practice is key to excel in Accounts, studying smart is your absolute key to success in the subject. Optimisation of time is key, especially during your boards when 5 other subjects need to be juggled with. 


FAQs on TS Grewal Solution for Class 11 Accountancy Chapter 3

1. Define a voucher according to Class 11 Accountancy Chapter 3.

A voucher is referred to a written document that provides business transaction proof. This document is used to prove all the record transactions written in primary books of businesses. This primary book can either be a subsidiary or a journal. There are mainly two types of vouchers in Accountancy, these include Source Voucher and Accounting Voucher. A voucher is considered to be a backup document for all the business accounts that are payable. It also tracks all the bills owed by business companies to suppliers and vendors. The documents available in a voucher generally include shipping receipts, supplier’s invoice, ledger accounts, due date, and amount owed by the business. 

2. How do I ace my exams using TS Grewal solutions in my Accountancy preparation?

The questions in TS Grewal consist of a larger number of miscellaneous questions otherwise available in the NCERT textbook. This helps cover similar topics more thoroughly, giving students more questions to practice with. This book helps you comprehend the logic better, thus in the end allowing students to excel in their exams. Topics that don’t require much attention are also given a lot of detail to, allowing thorough comprehension of what is being taught as well as helps set the student upto the required caliber. 

3. Where can I download TS Grewal solutions for class 11 CBSE?

The TS Grewal Solutions have been one of the most widely read books by commerce students in grade 11 for Accountancy. The CBSE solutions for TS Grewal Accountancy have been created by account teachers which can be found for free on our website of Vedantu. This subject is known to be one of the most liked subjects by commerce students as it is simple logic once the concepts are understood thoroughly and the tips are followed guiding the student in the right direction. 

4. How can I do well in class 11 Accountancy?

Students need to get a stronghold of Class 11 Accountancy. Although it may not seem easy to a lot of students as students at this age tend to procrastinate a lot when it comes to studying and revising, Students need to keep in mind that they need to be disciplined when it comes to scoring well in their final examinations. Apart from this, students will have to put in a lot of effort in terms of hardwork and practice. You should know that Accountancy is a practical subject that needs more time, consideration and practice. For any further help, simply go to the Vedantu website where you can select your desired option and know more about any subject. 

5. Mention some tips to do well in chapter 3 class 11 Accountancy.

A few tips to excel in grade 11, chapter 3 Accounts would be to:

  • Solve as many questions as possible,

  • Study as per the syllabus prescribed by the CBSE from TS Grewal and NCERT Books.

  • The CBSE Board exams are entirely dependent on the syllabus provided by NCERT

  • Definitions are to be understood properly along with the meaning and you need to understand the logic and reasoning behind the concept.

  • Students need to pay more attention to the features, theories, and concepts that are covered in all the chapters. Accordingly, students will be able to figure out the important topics and concepts.