[ISC] Q 2 Journal Solutions TS Grewal Class 11 (2024-25)

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Solution of Question number 2 Journal TS Grewal class 11 ISC 2024-25.

Classify the following into Asset, Liability, Capital, Revenue or Expense Accounts:

(i) Plant and Machinery(ii) Bank Loan(iii) Sales
(iv) Rent Paid(v) Discount Received(vi) Carriage Inwards
(vii) Carriage Outwards(viii) Purchases(ix) Bills Payable
(x) Wages(xi) Advance Income(xii) Accrued Income
(xiii) Goodwill(xiv) Furniture and Fixtures(xv) Outstanding Expenses
(xvi) Additional Capital(xvii) Rent Received

Solution:-

S.NSolutions
1) Plant and MachineryAssets
2) Bank LoanLiabilities
3) SalesRevenue
4) Rent PaidExpenses
5) Discount ReceivedRevenue
6) Carriage InwardsExpenses
7) Carriage OutwardsExpenses
8) PurchasesExpenses
9) Bills PayableLiabilities
10) WagesExpenses
11) Advance IncomeLiabilities
12) Accrued IncomeAssets
13) GoodwillAssets
14) Furniture & FixturesAssets
15) Outstanding ExpensesLiabilities
16) Additional CapitalCapital
17) Rent ReceivedRevenue

Below is the list of all the Practical problems

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
26Question – 26
27Question – 27
28Question – 28
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