TS Grewal Class 12 Accountancy Solutions: Class 12th Commerce students are going to appear for Board exams and for the preparation a good book is needed. TS Grewal CBSE Class 12 Accountancy Solutions is the book that can explain the concepts of Accountancy, right from the basics to the most complicated questions. TS Grewal is one of the most widely read books for both class 11th and 12th Accountancy students.
TS Grewal Class 12 Accountancy Solutions comes in two volumes. Volume 1 has the first seven chapters and Volume 2 has the last three chapters.
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Download Chapter-Wise TS Grewal Class 12 Accountancy Solutions PDF
TS Grewal Class 12 Accountancy Solutions List Of Chapters – Volume 1
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Chapter-1 Company Accounts Financial Statements of Not-For-Profit Organizations |
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Chapter-2 Change in Profit – Sharing Ratio Among the Existing Partners |
TS Grewal Class 12 Accountancy Solutions List Of Chapters – Volume 2
TS Grewal Class 12 Accountancy Solutions Chapter-Wise – Brief Intro
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Company Accounts Financial Statements of Not-For-Profit Organizations
TS Grewal Class 12 Accountancy Solutions in the first chapter explains Not-For-Profit Organizations as entities without any profit goals. Such organizations work for public benefit or social causes and are also known as Non-business entities. The accounting method of such organizations is different because of the absence of the profit agenda.
The first chapter of TS Grewal solutions will teach the students about calculating the payments, liabilities, receipts, etc. of such Not-For-Profit Organizations.
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Change In Profit – Sharing Ratio Among The Existing Partners
Chapter 2 of TS Grewal Class 12 Accountancy Solutions explains to students about calculating the sacrificing ratio, gaining ratio, profit-sharing ratio, etc.
It also explains the ratio which is mutually decided by partners upon a contract, that is some part of the company’s profit. Such ratio depends upon various factors, explained in detail in the TS Grewal Accountancy Solutions.
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Goodwill, Nature, and Valuation
The reputation earned by a firm over the years is known as the Goodwill, which later finds valuation in monetary terms. A good reputation is earned in the market by those firms functioning for a long time.
Even though goodwill is an intangible factor, it is considered an asset to the company. Chapter 3 of TS Grewal Class 12 Accountancy Solutions will teach the students about estimating goodwill in a business.
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Retirement Or Death Of A Partner
TS Grewal Class 12 Accountancy Solutions in chapter 6 discusses the changes of agreement in a partnership contract due to the death, retirement or withdrawal of a partner from the business.
In any of the conditions mentioned above, the prior accounts will have to be settled, and the calculation of net profits has to be done.
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Accounting For Partnership Firms – Fundamentals
The meaning of a partnership firm is explained in the TS Grewal Class 12 Accountancy Solutions as entities in which two or more two individuals agree to share business profits, liabilities, risk, and responsibilities. Such partnerships are governed by the rules of the Partnership Act, 1932.
Chapter 5 in the TS Grewal Class 12 Accountancy Solutions has also explained dispute settlements. In this chapter, students will learn about calculating the manager’s commission, profit distribution, capital interest, etc.
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Admission Of A Partner
Chapter 6 in the TS Grewal Class 12 Accountancy Solutions talks about the change of the profit shares of old partners caused by a new partner’s entry. This chapter consists of a total of 25 questions, which are solved with full explanation and step by step method.
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Dissolution Of A Partnership Firm
The final chapter of Volume 1 of TS Grewal Class 12 Accountancy Solutions is this chapter 7 which discusses the firm dissolution, where a partnership firm stops the business at some point. It can happen because of many reasons like management issues, debt, etc.
In such a case, the accounts of the partners must be settled according to the rules of the contract agreement. Chapter 7 of TS Grewal Class 12 Accountancy Solutions teaches the students about account settlement in case of firm dissolution.
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Accounting For Share Capital
Chapter 8 of TS Grewal Class 12 Accountancy Solutions explains the share capital in a detailed manner. This chapter consists of a total of seven questions that explains to the students about Accounting for Share Capital.
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Issues Of Debentures
The meaning and issue of debentures are explained in a detailed way in Chapter 9 of TS Grewal Class 12 Accountancy Solutions. It states that debentures are debt instruments issued for loans by the government or companies.
The issue of debentures is somewhat like the issuing of shares in a business. This depends on a particular company’s reputation.
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Redemption Of Debentures
The final chapter of TS Grewal Class 12 Accountancy Solutions explains redemptions of debentures. Redemptions of debentures are defined as the method of discharging a firm’s debt. It is also known as the reimbursement of debentures by a company to the concerned debenture holders.
For any query regarding the CBSE TS Grewal Class 12 Accountancy Solutions, ask in the comment box.
FAQs: TS Grewal Class 12 Accountancy Solutions
How many volumes are in TS Grewal Class 12 Accountancy Solutions?
There are 2 volumes of TS Grewal Class 12 Accountancy Solutions.
How many chapters are in TS Grewal Class 12 Accountancy Solutions Volume 1?
In Volume 1 of TS Grewal Class 12 Accountancy Solutions, there are a total of seven chapters.
How can you define Goodwill?
The reputation earned by a firm over the years is known as Goodwill, which later finds valuation in monetary terms. A good reputation is earned in the market by those firms functioning for a long time.
What are Not-For-Profit Organizations?
Not-For-Profit Organizations as entities without any profit goals. Such organizations work for public benefit or social causes and are also known as Non-business entities. The accounting method of such organizations is different because of the absence of the profit agenda.