Double Entry Book Keeping Ts Grewal 2025 for Class 11 Commerce
Accountancy
Chapter 4 – Bases Accounting
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Question 1:
During the financial year ended 31st March,2025, Mohan had cash sales of Rs.90,000 and credit sales of Rs. 60,000. His expenses for the year were Rs. 70,000 out of which Rs. 30,000 is still to be paid.
Find out Mohan’s income for the year following the Cash Basis of Accounting.
Answer:
Cash sales = Rs.90,000
Total Expenses = Rs.70,000
Outstanding Expenses = Rs.30,000
Cash Expenses = Rs.70,000 – Rs.30,000= Rs.40,000
Mohan’s income for the year = Rs.90,000- Rs.40,000= Rs.50,000
Mohan’s income for the year = Rs.50,000
Question 2:
Taking the figures given in Q. 1, find out the net income according to Accrual Basis ofAccounting.
Answer:
Cash sales = Rs.90,000
Credit Sales =Rs.60,000
Total Sales =90,000 + 60,000 = Rs.1,50,000
Total Expenses = Rs.70,000
Mohan’s income for year = Rs.1,50,000 – Rs.70,000= Rs.80,000
Mohan’s income for the year = Rs.80,000 (On the Accrual Basis)
Question 3:
In the financial year 2024-25, Shiva earned total revenue of Rs.3,45,000, out of which Rs.2,35,000 was received. Total expenses paid by him were Rs.2,20,000, out of which 10,000 relate to 2025-26. Expenses of 15,000 are still outstanding. Ascertain Shiva’s income for 2024-25 as per:
(i) Cash Basis of Accounting (ii) Accrual Basis of Accounting.
Answer:
(i) Cash Basis of Accounting
Revenue was received Rs.2,35,000
Total expenses paid by him during the year were Rs.2,20,000
Shiva’s income for 2024-25 = Rs.2,35,000- Rs.2,20,000= Rs.15,000
(ii) Accrual Basis of Accounting
Shiva earned total revenue of Rs.3,45,000
Total expenses for the year were = Rs.2,20,000-10,000+15,000 = 2,25,000
Shiva’s income for 2024-25 = Rs.3,45,000-Rs.2,25,000= Rs.1,20,000
Question 4:
Naren gave following information about his income and expenses for the year ended 31st March, 2025:
Expenses paid Rs.1,80,000
Expenses paid in advance (not included in above) Rs.20,000
Expenses not yet paid Rs.10,000
Income received Rs.2,40,000
Income received in advance (included in Income Received) Rs. 15,000
Income not yet received Rs.12,000
Find the net income or profit of Naren if he adopts
(i) Cash Basis of Accounting, and
(ii) Accrual Basis of Accounting.
Answer:
(i) Cash Basis of Accounting
Total expense paid during the year = Rs.1,80,000+Rs.20,000= Rs.2,00,000
Income received Rs.2,40,000
Income of Naren = Rs.2,40,000- Rs.2,00,000= Rs.40,000
(ii) Accrual Basis of Accounting
Total expenses for the year were = Rs.1,80,000+Rs.10,000=Rs.1,90,000
Total Income for the year = Rs.2,40,000- Rs.15,000+Rs.12,000= Rs.2,37,000
Profit of Naren = Rs.2,37,000- Rs.1,90,000= Rs.47,000
Question 5:
Pawan gives the following information about his income and expenses for the year ended 31st March, 2025:
Expenses paid 80,000 Income received Rs.1,20,000
Expenses paid in advance Rs.20,000 Income received in advance Rs.15,000
Outstanding expenses Rs.10,000 Income earned but not received Rs.12,000
Compute the net income of Pawan if he adopts
(i) Cash Basis of Accounting; and (ii) Accrual Basis of Accounting.
Answer:
(i) Cash Basis of Accounting
Total expense paid during the year = Rs.80,000
Income received Rs.1,20,000
Income for the year = Rs.1,20,000- Rs.80,000= Rs.40,000
(ii) Accrual Basis of Accounting
Total expenses for the year were = Rs.80,000+Rs.10,000-Rs.20,000=Rs.70,000
Total Income for the year = Rs.1,20,000- Rs.15,000+Rs.12,000=Rs.1,17,000
Income for the year = Rs.1,17,000- Rs.70,000= Rs.47,000