TS Grewal Class 11 Accountancy Solutions Chapter 6 – Ledger: The questions in Chapter 6 are of practical approach, so TS Grewal has given all the questions solved in a step-by-step format. These questions are solved and explained in such a simple way that it is helpful for the students from an exam point of view. To simplify the practical questions, students can always download the TS Grewal Class 11 Accountancy Solutions Chapter 6 – Ledger in PDF form.
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TS Grewal Class 11 Accountancy Solutions Chapter 6
Detailed TS Grewal Class 11 Accountancy Solutions Chapter 6 – Ledger
TS Grewal Class 11 Accountancy Solutions Chapter 6 – Ledger explains Ledger as a book used for containing records in which the summarized and classified information from the journal, posted as credit and debit. The information required for preparing the financial statements of a firm is in the ledger. It is also known as the second book of entry.
Features of a ledger account
TS Grewal Class 11 Accountancy Solutions mentions features of a ledger account.
- Follows the double-entry system.
- In a ledger, various transactions of an enterprise are posted under various accounts.
- It is also called the Principle book of account because, after a journal or all-purpose books, the final entry of transactions is made in the ledger.
- All types of accounts related to revenue, assets, liabilities, and capital are maintained in a ledger.
- A ledger is the only record of a business transaction classified into relevant accounts.
Types of a ledger
TS Grewal Class 11 Accountancy Solutions discusses the 3 types of Ledger:
- General ledger: A master collection of all the accounts and summarizes all the transactions within an enterprise. It records all the transactions of a business in a financial system.
It consists of credit and a debit entry for every transaction recorded in it. The total credit and debit balance should match for preparing financial statements from it.
It has 2 types:
- Nominal: It contains all the nominal accounts like income, gain, expense, and loss.
- Private: It contains all the accounts with confidential nature like capital, salaries, drawings, etc.
2. Sales ledger: Businesses having many customers and selling in credit maintain a sales ledger. It records all the transactions of goods being sold to customers in credit. The Sum of the amount given on credit is called Accounts Receivable.
3. Purchase ledger: All the transactions between a company and suppliers are recorded in the purchase ledger. It shows the paid and outstanding purchases. The Sum of the amount given on credit is called Accounts Payable.
TS Grewal Class 11 Accountancy Solutions Chapter 6 – Ledger: Sample Questions
Mohit began a business on 1st April 2018, with a capital of Rs. 50,000 and made the following transactions:
|
2018 |
|
Rs. |
|
April 3 |
Purchased goods on credit from Rita |
20,000 |
|
April 4 |
Cash paid to Rita |
10,000 |
|
April 6 |
Goods sold to Rohit |
25,000 |
|
April 8 |
Cash received from Rohit |
20,000 |
|
April 12 |
Purchased good from Rita |
12,000 |
|
April 18 |
Cash paid to Rita |
20,000 |
|
April 25 |
Goods sold to Rohit |
10,000 |
|
April 30 |
Cash received from Rohit |
6,000 |
Journalise the above transaction as well as show the resp. Ledger accounts.
Answer:
Journal of Mohit
Books of Mr. Mohit
Journal
|
Date |
Particulars |
L.F. |
Debit (Rs.) |
Credit (Rs.) |
|
April 1 |
Cash A/C Dr. To Capital A/C (Being commenced business by Mohit with cash) |
|
50,000 |
50,000 |
|
April 3 |
Purchases A/C Dr. To Rita’s A/C (Being purchased goods on credit) |
|
20,000 |
20,000 |
|
April 4 |
Rita’s A/C Dr. To Cash A/C (Being amount paid to Rita) |
|
10,000 |
10,000 |
|
April 6 |
Rohit’s A/C Dr. To Sales A/C (being sold material on credit) |
|
25,000 |
25,000 |
|
April 8 |
Cash A/C Dr. To Rohit’s A/C (Being amount received from Rohit) |
|
20,000 |
20,000 |
|
April 12 |
Purchases’ A/C Dr. To Rita’s A/C (Being material purchased on credit) |
|
12,000 |
12,000 |
|
April 18 |
Rita’s A/C Dr. To Cash A/C (Being Cash amount paid to Rita) |
|
20,000 |
20,000 |
|
April 25 |
Rohit’s A/C Dr. To Sales A/C (Being material sold to Rohit) |
|
10,000 |
10,000 |
|
April 30 |
Cash A/C Dr. To Rohit’s A/C (Being amount received from Rohit) |
|
6,000 |
6,000 |
Ledger shown in Rohit’s books
Cash Account
Dr. Cr.
|
Date |
Particulars |
J.F. |
Amount (Rs.) |
Date |
Particulars |
J.F. |
Amount (Rs.) |
|
2018 |
|
|
|
2018 |
|
|
|
|
April 1 |
To Capital A/C |
|
50,000 |
April 4 |
By Rita’s A/C |
|
10,000 |
|
April 8 |
To Rohit’s A/C |
|
20,000 |
April 18 |
By Rita’s A/C |
|
20,000 |
|
April 30 |
To Rohit’s A/C |
|
6,000 |
April 30 |
By Balance c/d |
|
46,000 |
|
|
|
|
76,000 |
|
|
|
76,000 |
|
May 1 |
Balance b/d |
|
46,000 |
|
|
|
|
Capital Account
Dr. Cr.
|
Date |
Particulars |
J.F. |
Amount (Rs.) |
Date |
Particulars |
J.F. |
Amount (Rs.) |
|
2018 |
|
|
|
2018 |
|
|
|
|
April 30 |
To Balance c/d |
|
50,000 |
April 1 |
By Cash A/C |
|
50,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
50,000 |
|
|
|
50,000 |
|
|
|
|
|
May 1 |
By Balance b/d |
|
50,000 |
Purchases Account
Dr. Cr.
|
Date |
Particulars |
J.F. |
Amount (Rs.) |
Date |
Particulars |
J.F. |
Amount (Rs.) |
|
2018 |
|
|
|
2018 |
|
|
|
|
April 03 |
To Rita’s A/C |
|
20,000 |
April 30 |
By Balance c/d |
|
32,000 |
|
April 12 |
To Rita’s A/C |
|
12,000 |
|
|
|
|
|
|
|
|
32,000 |
|
|
|
32,000 |
|
|
|
|
|
|
|
|
|
|
May 1 |
To Balance b/d |
|
32,000 |
|
|
|
|
Rita’s Account
Dr. Cr.
|
Date |
Particulars |
J.F. |
Amount (Rs.) |
Date |
Particulars |
J.F. |
Amount (Rs.) |
|
2018 |
|
|
|
2018 |
|
|
|
|
April 4 |
To Cash A/C |
|
10,000 |
April 3 |
By Purchases A/C |
|
20,000 |
|
April 18 |
To Cash A/C |
|
20,000 |
April 12 |
By Purchases A/C |
|
12,000 |
|
April 30 |
To Balance c/d |
|
2,000 |
|
|
|
|
|
|
|
|
32,000 |
|
|
|
32,000 |
|
|
|
|
|
May 1 |
Balance b/d |
|
2,000 |
Rohit’s Account
Dr. Cr.
|
Date |
Particulars |
J.F. |
Amount (Rs.) |
Date |
Particulars |
J.F. |
Amount (Rs.) |
|
2018 |
|
|
|
2018 |
|
|
|
|
April 6 |
To Sales A/C |
|
25,000 |
April 8 |
To Cash A/C |
|
20,000 |
|
April 25 |
To Sales A/C |
|
10,000 |
April 30 |
To Cash A/C |
|
6,000 |
|
|
|
|
|
April 30 |
By Balance b/d |
|
9,000 |
|
|
|
|
35,000 |
|
|
|
35,000 |
|
May 1 |
To Balance b/d |
|
9,000 |
|
|
|
|
Sales Account
Dr. Cr.
|
Date |
Particulars |
J.F. |
Amount (Rs.) |
Date |
Particulars |
J.F. |
Amount (Rs.) |
|
2018 |
|
|
|
2018 |
|
|
|
|
April 30 |
To Balance b/d |
|
35,000 |
April 6 |
By Rohit’s A/C |
|
25,000 |
|
|
|
|
|
April 25 |
By Rohit’s A/C |
|
10,000 |
|
|
|
|
35,000 |
|
|
|
35,000 |
|
|
|
|
|
May 1 |
Balance b/d |
|
35,000 |
We have included complete information regarding the CBSE TS Grewal Class 11 Accountancy Solutions Chapter 6 – Ledger. If you have any questions, feel free to ask in the comment box.
FAQs: TS Grewal Class 11 Accountancy Solutions Chapter 6 – Ledger
Define a ledger.
Ledger is a book used for containing records in which the summarized and classified information from the journal, posted as credit and debit. The information required for preparing the financial statements of a firm is in the ledger. It is also known as the second book of entry.
Mention 3 features of a ledger account.
Features of a ledger account are:
1. Follows the double-entry system.
2. In a ledger, various transactions of an enterprise are posted under various accounts.
3. All types of accounts related to revenue, assets, liabilities, and capital are maintained in a ledger.
What are the types of a general ledger?
A general ledger has 2 types:
1. Nominal: It contains all the nominal accounts like income, gain, expense, and loss.
2. Private: It contains all the accounts with a confidential nature like capital, salaries, drawings, etc.
Can I download TS Grewal Class 11 Accountancy Solutions Chapter 6 – Ledger free PDF?
Yes, you can download TS Grewal Class 11 Accountancy Solutions Chapter 6 – Ledger Free PDF.