[CBSE] Q 1 Solutions Financial Statements of Sole Proprietorship TS Grewal Class 11 (2022-23)

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Are you looking for the solution of Question number 1 of the Financial Statements of Sole Proprietorship of TS Grewal Book class 11, 2022-23?

Question number 1 of the Financial statements of the sole proprietorship of TS Grewal is practical one.

Question Number 1 Solution of Financial Statements of Sole Proprietorship of TS Grewal Book Class 11 (2022-23)

Question – 1

Solutions:-

I) Capital Expenses

Reason:- Expenses incurred on after purchasing an assets are included in the purchasing cost of the assets.

ii) Capital Expenses

Reason:- Expneses incurred on a new machine to make it usable is included in the purchasing cost of the assets.

iii) Revenue Expenses

Reason:- Expenses incurred in the maintenance of the old assets of the business are the Revenue Expenses.

iv) Revenue Expenses

Reason:- Insurance premium is the day to day expenses of the business.

v) Capital Expenses

Reason:- Expenditure incurred on purchasing a new assets are Capital expenses.

vi) Capital Expenses:-

Reason:- Expenditure incurred on purchasing a new assets are Capital expenses.

vii) Capital Expenses:-

Reason:- Expenditure incurred on a new machine to make it usable in business are included in the purchasing cost of the machine. thus installation charges of a new machine are Capital expenditures.

viii) Revenue Expenses:-

Reason:- Expenses incurred on maintenance of the existing assets are considered as day to day expenses of the business. Thus Repairs of existing car are Revenue Expenses.

ix) Revenue Expenses

Reason:- Expenses incurred on maintenance of the existing assets are considered as day-to-day expenses of the business. Thus expenses of repainted of office blocks are Revenue Expenses.

x) Telephone Bill:-

Reason:- Expenses on Telephone bill are day to day expenses of the business. Thus are Revenue Expenses.

Here is the list of all Solutions.

S.NSolutions
1Question – 1
2Question – 2
3Question – 3
4Question – 4
5Question – 5
6Question – 6
7Question – 7
8Question – 8
9Question – 9
10Question – 10
S.NSolutions
11Question – 11
12Question – 12
13Question – 13
14Question – 14
15Question – 15
16Question – 16
17Question – 17
18Question – 18
19Question – 19
20Question – 20
S.NSolutions
21Question – 21
22Question – 22
23Question – 23
24Question – 24
25Question – 25
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