TS Grewal Class 11 Accountancy Solutions Chapter 10 – Trial balance teaches the students about trial balance. As the name suggests, the questions in this chapter are numerical. Class 11 students can study from TS Grewal as it comes with step-by-step solutions and covers all the important topics. All the questions given in the textbook are solved in TS Grewal and a good choice for students.
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TS Grewal Class 11 Accountancy Solutions Chapter 10 – Trial Balance | Download Free PDF
TS Grewal Class 11 Accountancy Solutions Chapter 10
Detailed Explanation for TS Grewal Class 11 Accountancy Solutions Chapter 10 – Trial Balance
TS Grewal Class 11 Accountancy Solutions, explains the above-mentioned topics as follows:
- A trial balance can be defined as the bookkeeping worksheet, in which all the ledgers are combined in the credit and debit account columns, that are equal. TS Grewal, not just explains the meaning of trial balance, it also explains how trial balance is related to daily life.
- The second part, according to the TS Grewal Class 11 Accountancy Solutions, talks about the need for a trial balance. Some of the reasons are mentioned below:
- Checks the arithmetical accuracy of a ledger.
- Helps in rectifying errors of a ledger.
- Helps in adjusting accounts like prepaid expenses, closing stock, outstanding liabilities, etc.
- Helps in the preparation of financial statements.
- Helps in comparative analysis of the current and past year balances, etc.
There are more reasons in the chapter and TS Grewal has explained them with proper details.
- Next in the line is the preparation of the trial balance. It is prepared as follows:
- Balance every ledger account.
- Prepare an eight-column worksheet with the headings like account number, name, corresponding columns for credit and debit.
- Transfer to the trial balance worksheet the account number and account name along with the account balance in the appropriate credit or debit column.
- Add the amounts in the credit and debit columns and match their totals. If matched, close the balance, if not, then check and rectify the mistakes.
TS Grewal Class 11 Accountancy Solutions gives a thorough explanation for that.
- The significance of agreement of trial balance is also explained in the TS Grewal Class 11 Accountancy Solutions and makes it easy to comprehend for the students of Class 11th.
Agreement of trial balance is necessary. It can be defined as the arithmetical accuracy of posting journal entries in the ledger account. Although it doesn’t guarantee if the original entry is correct. TS Grewal Class 11 Accountancy Solutions has explained a lot more about it in the book.
TS Grewal Class 11 Accountancy Solutions Chapter 10 – Trial Balance: Sample Questions
Sample question 1:
Prepare a trial balance with the given information.
|
S. No. |
Name of Account |
Balance (Rs.) |
S. No. |
Name of Account |
Balance (Rs.) |
|
1 |
Capital |
2,00,000 |
2 |
Stocks |
70,000 |
|
3 |
Cash |
1,80,000 |
4 |
Debtors |
3,00,000 |
|
5 |
Creditors |
1,00,000 |
6 |
Bank loan |
1,50,000 |
|
7 |
Sales |
3,00,000 |
8 |
Purchases |
2,00,000 |
Answer:
|
S.No. |
Account title |
Debit balance (Rs.) |
Credit balance (Rs.) |
|
1 |
Capital |
|
2,00,000 |
|
2 |
Stocks |
70,000 |
|
|
3 |
Cash |
1,80,000 |
|
|
4 |
Debtors |
3,00,000 |
|
|
5 |
Creditors |
|
1,00,000 |
|
6 |
Bank loan |
|
1,50,000 |
|
7 |
Sales |
|
3,00,000 |
|
8 |
Purchases |
2,00,000 |
|
|
|
|
7,50,000 |
7,50,000 |
We have included complete information regarding the CBSE TS Grewal Class 11 Accountancy Solutions Chapter 10 – Trial Balance. If you have any questions, feel free to ask in the comment box
FAQs: TS Grewal Class 11 Accountancy Solutions Chapter 10 – Trial Balance
Define a trial balance.
A trial balance can be defined as the bookkeeping worksheet, in which all the ledgers are combined in the credit and debit account columns, that are equal.
What is the meaning of agreement of trial balance?
The agreement of trial balance means when the ledger accounts are arithmetically accurate. This means that the total debit and credit money columns are equal.
What are the steps of preparing a trial balance?
A trial balance can be prepared by following the given steps:
1. Balance every ledger account.
2. Prepare an eight-column worksheet with the headings like account number, name, corresponding columns for credit and debit.
3. Transfer to the trial balance worksheet the account number and account name along with the account balance in the appropriate credit or debit column.
4. Add the amounts in the credit and debit columns and match their totals. If matched, close the balance, if not, then check and rectify the mistakes.
Can I download TS Grewal Class 11 Accountancy Solutions Chapter 10 – Trial Balance PDF free?
Yes, you can download TS Grewal Class 11 Accountancy Solutions Chapter 10 – Trial Balance PDF free.