1. Following accounts are being maintained in the books of Shri Ashok. Classify them into Personal, Real and Nominal Accounts:  (i) Land and Building (viii) Salary (xv) Interest Received (ii) Excise Duty (ix) Debtors (xvi) Bank Overdraft (iii) Creditors (x) Bad Debts (xvii) Purchase Returns (iv) Capital (xi) Depreciation (xviii)...

2. Classify the following into Assets, Liabilities, Capital, Expenses and Revenue:  (i) Land; (ii) Investments; (iii) Building; (iv) Interest Received; (v) Salary; (vi) Bank Overdraft; (vii) Debtors; (viii) Creditors; (ix) Bad Debts; (x) Capital; (xi) Depreciation; (xii) Motor Vehicles; (xiii) Freight; (xiv) Wages; (xv) Goodwill; (xvi) Repairs.   T.S.Grewal/2024 Edition/Practical...

3. Classify the following into Assets, Liabilities, Capital, Revenue and Expenses:  (i) Plant and Machinery: (ii) Bank Loan; (iii) Sales; (iv) Rent; (v) Discount Received; (vi) Carriage Inwards; (vii) Carriage Outwards; (viii) Purchases; (ix) Wages; (x) Advance Income; (xi) Accrued Income: (xii) Goodwill; (xiii) Furniture and Fixtures; (xiv) Outstanding Expenses;...

4. On which side will the increase in the following accounts be recorded? Also, state the nature of the account: (i) Furniture A/c (ii) Mohan (Proprietor) (iii) Salary A/c (iv) Purchases A/c (v) Sales A/c (vi) Interest Paid A/c (vii) Sohan (Creditor) (viii) Ram (Debtor)   T.S.Grewal/2024 Edition/Practical Problems/Q-04 For...

5. On which side will the decrease in the following accounts be recorded? Also, state the nature of the account: (i) Cash (ii) Bank Overdraft (iii) Outstanding Salary paid (iv) Outstanding Rent (v) Prepaid Insurance (vi) Mohan, Proprietor of the business   T.S.Grewal/2024 Edition/Practical Problems/Q-05 For full question, please refer...

6. Whether an account will be debited or credited to record  (i) increase in revenue. (ii) decrease in expense. (iii) drawings. (iv) the fresh capital introduced by the owner.   T.S.Grewal/2024 Edition/Practical Problems/Q-06 For full question, please refer to the text book T.S.Grewal’s Double Entry Book Keeping-Financial Accounting, Textbook for...

7. From the following transactions, state the nature of account and state which account will be debited and which account credited: ₹ (i) Manu started business with cash 1,00,000 (ii) He purchased furniture for business 20,000 (iii) Purchased goods on credit from Anshul 6,000 (iv) Paid to his creditor, Anshul...

8. Open a “T shape account for machinery and put the following transactions on the proper side: ₹ (i) Machinery purchased 40,000 (ii) Machinery sold 10,000 (iii) Machinery purchased 8,000 (iv) Machinery discarded 14,000 (v) Depreciation on machinery 1,000   T.S.Grewal/2024 Edition/Practical Problems/Q-08 For full question, please refer to the...

9. Open a T shape Cash Account with the following transactions: ₹ (i) Gurman started business with cash 40,000 (ii) Purchased goods 20,000 (iii) Sold goods 24,000 (iv) Paid rent 400 (v) Paid salaries 600 (vi) Drew for personal use 1,000   T.S.Grewal/2024 Edition/Practical Problems/Q-09 For full question, please refer...

10. Open a “T shape account of creditor, Rakesh’, and write the following transactions on the proper side: ₹ (i) Goods purchased from Rakesh on credit 50,000 (ii) Goods returned to Rakesh for 5,000 (iii) Paid to Rakesh 20,000 (iv) Purchased goods from Rakesh on credit 10,000   T.S.Grewal/2024 Edition/Practical...

11. Open a T shape account of debtor Brij and write the following transactions on the proper side: ₹ (i) Sold goods to Brij on credit 25,000 (ii) Cash received from Brij Discount allowed to him 10,000 500 (iii) Goods returned by Brij 5,000   T.S.Grewal/2024 Edition/Practical Problems/Q-11 For full...

12. Put the following on the proper side of a Cash Account, a Debtor’s Account and a Creditor’s Account: ₹ (i) Sold goods to Sanjay on credit 50,000 (ii) Sold goods to Mohan for cash 20,000 (iii) Purchased goods from Ram on credit 25,000 (iv) Cash received from Sanjay 19,000...

13. From the following particulars, prepare the proprietor’s Capital Account: ₹ 1st April, 2023-Commenced business with cash 2,00,000 31st March, 2024-Net Loss as per Profit & Loss Account 18,000 31st March, 2024-Drawings during the period 15,000   T.S.Grewal/2024 Edition/Practical Problems/Q-13 For full question, please refer to the text book T.S.Grewal’s...

14. From the following particulars, prepare the proprietor’s Capital Account: 2023 ₹ April 1 Started business with cash 45,000 May 10 Withdrew from business for personal use 10,000 July 15 Further Capital introduced 55,000 Nov. 30 Income tax paid 5,000 2024 Mar. 31 Profit for the year 30,000 (MSE Chandigarh,...