{"id":83444,"date":"2023-05-21T19:08:00","date_gmt":"2023-05-21T13:38:00","guid":{"rendered":"https:\/\/www.kopykitab.com\/blog\/?p=83444"},"modified":"2023-05-22T12:59:14","modified_gmt":"2023-05-22T07:29:14","slug":"ts-grewal-class-11-accountancy-solutions-chapter-2-accounting-equation","status":"publish","type":"post","link":"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-11-accountancy-solutions-chapter-2-accounting-equation\/","title":{"rendered":"TS Grewal Class 11 Accountancy Solutions Chapter 2 &#8211; Accounting Equation 2023"},"content":{"rendered":"\n<p><img class=\"alignnone size-full wp-image-135436\" src=\"https:\/\/www.kopykitab.com\/blog\/wp-content\/uploads\/2021\/10\/TS-Grewal-Class-11-Accountancy-Solutions-Chapter-2-Accounting-Equation.jpg\" alt=\"TS Grewal Class 11 Accountancy Solutions Chapter 2 - Accounting Equation\" width=\"1200\" height=\"675\" srcset=\"https:\/\/www.kopykitab.com\/blog\/wp-content\/uploads\/2021\/10\/TS-Grewal-Class-11-Accountancy-Solutions-Chapter-2-Accounting-Equation.jpg 1200w, https:\/\/www.kopykitab.com\/blog\/wp-content\/uploads\/2021\/10\/TS-Grewal-Class-11-Accountancy-Solutions-Chapter-2-Accounting-Equation-768x432.jpg 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<p><strong>TS Grewal Class 11 Accountancy Solutions Chapter 2 &#8211; Accounting Equation<\/strong>,\u00a0gives students details about different constituents of Accounting Equations. It states that an Accounting Equation is the reflection of a company\u2019s financial indices, associated very closely with each other. These are liabilities, assets as well as owners\u2019 equity.<\/p>\n<p>The Accounting Equation is the basic accounting or a balance sheet equation. Transactions carried out by a company accurately reflected in its financial records, are ensured by the Accounting Equation.<\/p>\n<ul>\n<li><strong>Read More: <a href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-11-solutions\/\" target=\"_blank\" rel=\"noopener\"><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;TS Grewal Class 11 Solutions&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:5053,&quot;3&quot;:{&quot;1&quot;:0},&quot;5&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;6&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;7&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;10&quot;:2,&quot;11&quot;:0,&quot;12&quot;:0,&quot;15&quot;:&quot;Arial&quot;}\" data-sheets-note=\"https:\/\/www.kopykitab.com\/blog\/cbse-class-10-maths-rs-aggarwal-solutions\/\nhttps:\/\/www.kopykitab.com\/blog\/cbse-class-11-maths-rs-aggarwal-solutions\/\">TS Grewal Class 11 Solutions<\/span><\/a><\/strong><\/li>\n<\/ul>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_47_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"ez-toc-toggle-icon-1\"><label for=\"item-6a01fdc32940b\" aria-label=\"Table of Content\"><span style=\"display: flex;align-items: center;width: 35px;height: 30px;justify-content: center;direction:ltr;\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/label><input  type=\"checkbox\" id=\"item-6a01fdc32940b\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-visibility-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-11-accountancy-solutions-chapter-2-accounting-equation\/#download-free-pdf-ts-grewal-class-11-accountancy-solutions-chapter-2-%e2%80%93-accounting-equation\" title=\"Download Free PDF TS Grewal Class 11 Accountancy Solutions Chapter 2 &#8211; Accounting Equation\u00a0\">Download Free PDF TS Grewal Class 11 Accountancy Solutions Chapter 2 &#8211; Accounting Equation\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-11-accountancy-solutions-chapter-2-accounting-equation\/#details-of-ts-grewal-class-11-accountancy-solutions-chapter-2-%e2%80%93-accounting-equation\" title=\"Details of TS Grewal Class 11 Accountancy Solutions Chapter 2 &#8211; Accounting Equation\">Details of TS Grewal Class 11 Accountancy Solutions Chapter 2 &#8211; Accounting Equation<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-11-accountancy-solutions-chapter-2-accounting-equation\/#terms-to-remember\" title=\"Terms to remember:\">Terms to remember:<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-11-accountancy-solutions-chapter-2-accounting-equation\/#liabilities\" title=\"Liabilities:\">Liabilities:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-11-accountancy-solutions-chapter-2-accounting-equation\/#types-of-liabilities\" title=\"Types of liabilities:\">Types of liabilities:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-11-accountancy-solutions-chapter-2-accounting-equation\/#assets\" title=\"Assets: \">Assets: <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-11-accountancy-solutions-chapter-2-accounting-equation\/#the-double-entry-system\" title=\"The Double-entry System: \">The Double-entry System: <\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-11-accountancy-solutions-chapter-2-accounting-equation\/#class-11-accountancy-chapter-2-%e2%80%93-accounting-equation-sample-questions\" title=\"Class 11 Accountancy Chapter 2 &#8211; Accounting Equation Sample questions\">Class 11 Accountancy Chapter 2 &#8211; Accounting Equation Sample questions<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-11-accountancy-solutions-chapter-2-accounting-equation\/#illustrate-the-effect-of-the-following-on-the-accounting-equation\" title=\"Illustrate the effect of the following on the Accounting Equation?\">Illustrate the effect of the following on the Accounting Equation?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-11-accountancy-solutions-chapter-2-accounting-equation\/#faqs-ts-grewal-class-11-accountancy-solutions-chapter-2-accounting-equation\" title=\"FAQs: TS Grewal Class 11 Accountancy Solutions Chapter 2- Accounting Equation\">FAQs: TS Grewal Class 11 Accountancy Solutions Chapter 2- Accounting Equation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-11-accountancy-solutions-chapter-2-accounting-equation\/#how-do-you-define-liabilities\" title=\"How do you define liabilities?\">How do you define liabilities?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-11-accountancy-solutions-chapter-2-accounting-equation\/#how-do-you-define-assets\" title=\"How do you define assets?\">How do you define assets?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-11-accountancy-solutions-chapter-2-accounting-equation\/#what-are-the-types-of-liabilities\" title=\"What are the types of liabilities?\">What are the types of liabilities?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-11-accountancy-solutions-chapter-2-accounting-equation\/#define-the-double-entry-system\" title=\"Define the Double-entry system?\">Define the Double-entry system?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"download-free-pdf-ts-grewal-class-11-accountancy-solutions-chapter-2-%e2%80%93-accounting-equation\"><\/span>Download Free PDF TS Grewal Class 11 Accountancy Solutions Chapter 2 &#8211; Accounting Equation\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><a href=\"https:\/\/www.kopykitab.com\/blog\/wp-content\/uploads\/2021\/04\/TS-Grewal-Class-11-Accountancy-Solutions-Chapter-2-Accounting-Equation.pdf\">TS Grewal Class 11 Accountancy Solutions Chapter 2 &#8211; Accounting Equation<\/a><\/p>\n<div id=\"example1\" style=\"text-align: justify;\">\u00a0<\/div>\n<p style=\"text-align: justify;\"><style>\n.pdfobject-container { height: 500px;}<br \/>\n.pdfobject { border: 1px solid #666; }<br \/>\n<\/style><\/p>\n<p style=\"text-align: justify;\"><script src=\"https:\/\/www.kopykitab.com\/_utility\/js\/pdfobject.min.js\"><\/script><br \/><script>PDFObject.embed(\"https:\/\/www.kopykitab.com\/blog\/wp-content\/uploads\/2021\/04\/TS-Grewal-Class-11-Accountancy-Solutions-Chapter-2-Accounting-Equation.pdf\", \"#example1\");<\/script><\/p>\n<h2><span class=\"ez-toc-section\" id=\"details-of-ts-grewal-class-11-accountancy-solutions-chapter-2-%e2%80%93-accounting-equation\"><\/span>Details of TS Grewal Class 11 Accountancy Solutions Chapter 2 &#8211; Accounting Equation<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"terms-to-remember\"><\/span><strong>Terms to remember:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<h4><span class=\"ez-toc-section\" id=\"liabilities\"><\/span><strong>Liabilities:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>Liabilities is a term used for representing obligations, something a company owes, like huge sums of money. So to describe liability, TS Grewal says that it is an obligation between two parties, that is yet to be paid for and is settled over a period of time by either giving them money or financial benefits via goods and services.<\/p>\n<p>Mortgages, loans, deferred revenues, payables, accrued expenses, and warranties are liabilities.<\/p>\n<h4><span class=\"ez-toc-section\" id=\"types-of-liabilities\"><\/span><strong>Types of liabilities:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>Liabilities are further divided into two types:<\/p>\n<ol>\n<li>Short-term liability \u2013 These are the ones that an organization expects to pay for within or before 12 months.<\/li>\n<li>Long-term liability &#8211; These are the ones that an organization expects to pay for within 12 months or later than that<\/li>\n<\/ol>\n<h4><span class=\"ez-toc-section\" id=\"assets\"><\/span><strong>Assets: <\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>The resources owned and controlled by the company can be called assets. It is a resource carrying financial value which is used for future benefits, in any form. The forms can be generating cash flow, improving sales by reducing expenses (may affect the sales directly or indirectly).<\/p>\n<p><strong>Owner\/shareholders\u2019 equity: <\/strong><\/p>\n<p>TS Grewal Class 11 Accountancy Solutions has defined this term as the net amount of a company\u2019s total liabilities and assets. Liabilities, assets, and owners\u2019 equity are listed on the balance sheet of the company.<\/p>\n<h4><span class=\"ez-toc-section\" id=\"the-double-entry-system\"><\/span><strong>The Double-entry System: <\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>TS Grewal Class 11 Accountancy Solutions teaches students about the Double-entry system in Chapter 2. The foundation of the Double-entry system is formed by the accounting equation.<\/p>\n<p>The Double-entry system is a representation of a financial record, known as a balance sheet. It shows the sum of total liabilities and shareholders\u2019 equity is equal to its total assets.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"class-11-accountancy-chapter-2-%e2%80%93-accounting-equation-sample-questions\"><\/span>Class 11 Accountancy Chapter 2 &#8211; Accounting Equation Sample questions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h4><span class=\"ez-toc-section\" id=\"illustrate-the-effect-of-the-following-on-the-accounting-equation\"><\/span><strong>Illustrate the effect of the following on the Accounting Equation?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ol>\n<li><strong>Started a business with Rs. 45,000, cash.<\/strong><\/li>\n<li><strong>Opened a bank account by depositing Rs. 4,500.<\/strong><\/li>\n<li><strong>Bought goods from Mr. X for Rs. 11,200.<\/strong><\/li>\n<\/ol>\n<p><strong>\u00a0<\/strong><strong>Answer: The table mentioned below shows the Accounting Equation:<\/strong><\/p>\n<table>\n<tbody>\n<tr>\n<td width=\"46\">\n<p><strong>S.no. <\/strong><\/p>\n<\/td>\n<td width=\"153\">\n<p><strong>Transactions <\/strong><\/p>\n<\/td>\n<td width=\"439\">\n<p><strong>Assets\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0=\u00a0\u00a0 Liabilities \u00a0\u00a0+\u00a0\u00a0 \u00a0Capital<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"46\">\n<p><strong>\u00a0<\/strong><\/p>\n<\/td>\n<td width=\"153\">\n<p>\u00a0<\/p>\n<\/td>\n<td width=\"439\">\n<p><strong>Cash \u00a0\u00a0+ \u00a0\u00a0\u00a0\u00a0Bank \u00a0+ \u00a0\u00a0\u00a0\u00a0\u00a0Stock\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 = \u00a0\u00a0Creditors <\/strong><\/p>\n<p><strong>(Rs.)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (Rs.)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (Rs.)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (Rs.)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (Rs.)<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"46\">\n<p><strong>1. <\/strong><\/p>\n<\/td>\n<td width=\"153\">\n<p>Started business with Rs. 45,000<\/p>\n<\/td>\n<td width=\"439\">\n<p>45,000<strong>\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 =\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/strong>45,000<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"46\">\n<p><strong>2. <\/strong><\/p>\n<\/td>\n<td width=\"153\">\n<p>Opened a bank account with deposit of<\/p>\n<\/td>\n<td width=\"439\">\n<p>45,000<strong>\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 =\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/strong>45,000<\/p>\n<p>(4,500) +\u00a0\u00a0 4,500<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"46\">\n<p><strong>\u00a0<\/strong><\/p>\n<\/td>\n<td width=\"153\">\n<p><strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/strong>New Equation<\/p>\n<\/td>\n<td width=\"439\">\n<p>40,500<strong>\u00a0 +\u00a0\u00a0\u00a0 <\/strong>4,500\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 =\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 45,000<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"46\">\n<p><strong>3.<\/strong><\/p>\n<\/td>\n<td width=\"153\">\n<p>Purchased goods from Mr X worth<\/p>\n<\/td>\n<td width=\"439\">\n<p><strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"46\">\n<p><strong>\u00a0<\/strong><\/p>\n<\/td>\n<td width=\"153\">\n<p><strong>\u00a0 \u00a0 \u00a0 \u00a0 <\/strong>New Equation<\/p>\n<\/td>\n<td width=\"439\">\n<p><strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/strong>11,200\u00a0\u00a0\u00a0\u00a0\u00a0 =\u00a0\u00a0\u00a0 11,200 <strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"46\">\n<p><strong>\u00a0<\/strong><\/p>\n<\/td>\n<td width=\"153\">\n<p><strong>\u00a0<\/strong><\/p>\n<\/td>\n<td width=\"439\">\n<p>40,500 +\u00a0\u00a0\u00a0 4,500\u00a0\u00a0\u00a0 +<strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/strong>11,200\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 =\u00a0\u00a0\u00a0 11,200\u00a0\u00a0\u00a0\u00a0\u00a0 +\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 45,000<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>\u00a0<\/strong><\/p>\n<table>\n<tbody>\n<tr>\n<td width=\"213\">\n<p>Total Assets<\/p>\n<\/td>\n<td width=\"213\">\n<p>=<\/p>\n<\/td>\n<td width=\"213\">\n<p>Cash + Bank + Stock Value<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"213\">\n<p><strong>\u00a0<\/strong><\/p>\n<\/td>\n<td width=\"213\">\n<p>=<\/p>\n<\/td>\n<td width=\"213\">\n<p>40,500+4,500+11,200<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"213\">\n<p><strong>\u00a0<\/strong><\/p>\n<\/td>\n<td width=\"213\">\n<p>=<\/p>\n<\/td>\n<td width=\"213\">\n<p>56,200<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"213\">\n<p>Liabilities<\/p>\n<\/td>\n<td width=\"213\">\n<p>=<\/p>\n<\/td>\n<td width=\"213\">\n<p>Creditors<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"213\">\n<p>\u00a0<\/p>\n<\/td>\n<td width=\"213\">\n<p>=<\/p>\n<\/td>\n<td width=\"213\">\n<p>11,200<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"213\">\n<p>Capital<\/p>\n<\/td>\n<td width=\"213\">\n<p>=<\/p>\n<\/td>\n<td width=\"213\">\n<p>Assets \u2013 Liabilities<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"213\">\n<p>\u00a0<\/p>\n<\/td>\n<td width=\"213\">\n<p>=<\/p>\n<\/td>\n<td width=\"213\">\n<p>56,200 \u2013 11,200<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"213\">\n<p>\u00a0<\/p>\n<\/td>\n<td width=\"213\">\n<p>=<\/p>\n<\/td>\n<td width=\"213\">\n<p>45,000<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>If you have any queries regarding the <a href=\"https:\/\/www.cbse.gov.in\/\" target=\"_blank\" rel=\"noopener\">CBSE<\/a> TS Grewal Class 11 Accountancy Solutions Chapter 2 &#8211; Accounting Equation, you can ask in the comments.\u00a0<\/p>\n<h3><span class=\"ez-toc-section\" id=\"faqs-ts-grewal-class-11-accountancy-solutions-chapter-2-accounting-equation\"><\/span>FAQs: TS Grewal Class 11 Accountancy Solutions Chapter 2- Accounting Equation<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n<div id=\"rank-math-faq\" class=\"rank-math-block\">\n<div class=\"rank-math-list \">\n<div id=\"faq-question-1618222084663\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"how-do-you-define-liabilities\"><\/span>How do you define liabilities?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Liabilities is a term used for representing obligations, something a company owes, like huge sums of money. It is an obligation between two parties, that is yet to be paid for and is settled over a period of time by either giving the money or financial benefits via goods and services. Mortgages, loans, deferred revenues, payables, accrued expenses, and warranties are liabilities.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1618222155232\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"how-do-you-define-assets\"><\/span>How do you define assets?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>The resources owned and controlled by the company can be called assets. It is a resource carrying financial value which is used for future benefits, in any form. The forms can be generating cash flow, improving sales by reducing expenses (which may affect the sales in a direct or indirect manner).<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1618222172298\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"what-are-the-types-of-liabilities\"><\/span>What are the types of liabilities?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Liabilities are divided into two types:<br \/>Short-term liability \u2013 These are the ones that an organization expects to pay for within or before 12 months.<br \/>Long-term liability &#8211; These are the ones that an organization expects to pay for within 12 months or later than that.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1618222194258\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"define-the-double-entry-system\"><\/span>Define the Double-entry system?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>The Double-entry system is a representation of a financial record, known as a balance sheet. It shows the sum of total liabilities and shareholders\u2019 equity is equal to its total assets.<\/p>\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>TS Grewal Class 11 Accountancy Solutions Chapter 2 &#8211; Accounting Equation,\u00a0gives students details about different constituents of Accounting Equations. It states that an Accounting Equation is the reflection of a company\u2019s financial indices, associated very closely with each other. These are liabilities, assets as well as owners\u2019 equity. The Accounting Equation is the basic accounting &#8230; <a title=\"TS Grewal Class 11 Accountancy Solutions Chapter 2 &#8211; Accounting Equation 2023\" class=\"read-more\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-11-accountancy-solutions-chapter-2-accounting-equation\/\" aria-label=\"More on TS Grewal Class 11 Accountancy Solutions Chapter 2 &#8211; Accounting Equation 2023\">Read more<\/a><\/p>\n","protected":false},"author":244,"featured_media":135436,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":""},"categories":[73694,2917,73410],"tags":[75036,62123,3570],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/posts\/83444"}],"collection":[{"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/users\/244"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/comments?post=83444"}],"version-history":[{"count":5,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/posts\/83444\/revisions"}],"predecessor-version":[{"id":376283,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/posts\/83444\/revisions\/376283"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/media\/135436"}],"wp:attachment":[{"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/media?parent=83444"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/categories?post=83444"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/tags?post=83444"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}