Cashbook Solution for Class 11 Accountancy Chapter 7

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:

1. Simple Cash Book: Also known as a single column cash book.

2. Two Column Cash Book.

3. Three Column Cash Book.

4. 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:

1. 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.

2. 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.

3. 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

4. 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:

1. The solutions cover the majority of topics.

2. It is solved chapter wise, which ensures no confusion while revision.

3. It is provided according to the CBSE pattern, which ensures the same question pattern as the exam.

4. Easy to learn all concepts by students independently.

5. 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:

1. Board exams are based on the latest CBSE syllabus, and give more emphasis on solving more and more questions.

2. Understand the proper meaning of definitions and also try to figure out the logic and concept used.

3. Ensure that properly written practice is done, only memorizing and understanding won't do with the exams.

4. Focus more on advantages, disadvantages, and features. These are frequently asked in board exams.

5. 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.