TS Grewal Class 12 Solutions 2024-25 Chapter Wise PDF

For the students of class 12 Commerce Background, TS Grewal Class 12 solutions 2024-25 is a significant study resource. TS Grewal Solutions Class 12 are created by the highly qualified subject matter experts and are the best study materials to refer to while preparing for exams. When it comes to accountancy lessons, revision can get quite tricky. It requires students to manage time, increase accuracy and learn the concepts more effectively. This is where you can benefit from the TS Grewal class 12 solutions. Apart from practising them, you can also refer to these solutions for last minute revision. 

TS Grewal Class 12 Solutions PDFs are available in topic-wise format and can be downloaded from Selfstudys for free of cost. Each of the chapters has detailed solutions. 

• TS Grewal Class 12 Solutions Company Accounts Financial Statements of Not-for-Profit Organisations

• TS Grewal Class 12 Solutions Accounting for Partnership Firms- Fundamentals

• TS Grewal Class 12 Solutions Goodwill- Nature and Valuation

• TS Grewal Class 12 Solutions Change in Profit – Sharing Ratio Among the Existing Partners

• TS Grewal Class 12 Solutions Admission of a Partner

• TS Grewal Class 12 Solutions Retirement-Death of a Partner

• TS Grewal Class 12 Solutions Dissolution of Partnership Firm

• TS Grewal Class 12 Solutions Accounting for Share Capital

• TS Grewal Class 12 Solutions Issue of Debentures

• TS Grewal Class 12 Solutions Redemption of Debentures

• Account Class 12 Solutions TS Grewal Vol 1 2018 - Part 1

• Account Class 12 Solutions TS Grewal Vol 1 2018 - Part 2

• Account Class 12 Solutions TS Grewal Vol 1 2018 - Part 3

• Account Class 12 Solutions TS Grewal Vol 2 2018

• Account Class 12 Solutions TS Grewal Vol 3 2018 - Part 1

• Account Class 12 Solutions TS Grewal Vol 3 2018 - Part 2

The TS Grewal class 12 solutions 2024-25 are developed as per the latest curriculum of CBSE (Central Board of Secondary Education). 

How to Download TS Grewal Class 12 Solutions?

To download the TS Grewal class 12 solutions 2024-25, you need to follow the following steps: 

• Go to the official website of Selfstudys
• Click on the three lines on the upper left. 

• After clicking on the three lines on the upper left, click on the “Books & Solutions” option. 
• After clicking on “Books & Solutions”, you will see a list of Books and Solutions. Click on the “TS Grewal Solution” from the option below.

• Now you have to select class 12 and you can easily access TS Grewal class 12 solutions

Why Should you go for Selfstudys’ TS Grewal Class 12 Solutions 2023?

Below are the reasons why you should go for Selfstudys TS Grewal class 12 solutions 2023: 

• In all the 10 chapters of TS Grewal class 12 solutions, all the solutions are given in a clear and simple way which is easy to understand for all the students. 

• As the questions are easy to understand, students can score good marks in the exams. 

• It includes in-depth solutions that will build the knowledge of students in the field of accounting. Even to the most difficult questions, simple and clear answers are given. 

• These notes can be used for your daily study sessions. 

• These solutions are in a chapter-wise format. 

• The TS Grewal class 12 solutions are available free of cost. 

TS Grewal Class 12 Solutions PDF 

The TS Grewal class 12 solutions 2024-25 can be easily downloaded in PDF Format from the official website of Selfstudys. The TS Grewal Class 11 Solutions are device adaptive and can be easily downloaded on mobile, laptop, tablet etc. The TS Grewal class 12 solutions 2024-25 PDF is available free of cost. 

Why Should you Study From the Class 12 Accounts TS Grewal Solutions? 

Below are the reasons why you should study from the TS Grewal class 12 solutions 2024-25: 

• TS Grewal class 12 solutions are written in an easy and clear way. Students feel enjoyable studying from TS Grewal class 12 solutions. 

• TS Grewal class 12 solutions are designed as per the latest curriculum and guidelines of CBSE (Central Board of Secondary Education). 

• Students can put their accountancy skills to a test with TS Grewal class 12 solutions. If they face any trouble, they can see the solutions and then again try solving them. 

• These TS Grewal Class 12 solutions include in-depth solutions that will build the knowledge of students in the field of accounting. Even to the most difficult questions, simple and clear answers are given. 

• These TS Grewal class 12 solutions are one of the best study materials for the class 12 exam preparation. These solutions consist of a range of questions which can be used in your daily study sessions. 

• These class 12 accounts TS Grewal solutions are arranged in a chapter wise format. 

• The solutions are available free of cost at selfstudys.com. 

Volume 1 and Volume 2 in TS Grewal Class 12 Solutions 

There are two volumes in TS Grewal class 12 solutions. Volume 1 consists of seven chapters and Volume 2 consists of three chapters. 

Volume 1 in TS Grewal Class 12 Solutions

The seven chapters of TS Grewal Class 12 Solutions 2024-25 Volume 1 are below: 

• Chapter 1 Company Accounts Financial Statements of Not-for-Profit Organizations
• Chapter 2 Change in Profit- Sharing Ratio Among the Existing Partners
• Chapter 3 Goodwill Nature and Valuation
• Chapter 4 Retirement or Death of a Partner
• Chapter 5 Accounting for Partnership Firms - Fundamentals
• Chapter 6 Admission of a Partner
• Chapter 7 Dissolution of a Partnership Firm 

Volume 2 in TS Grewal Class 12 solutions 2024-25

The three chapters of TS Grewal class 12 solutions 2023 in Volume 2 are below: 

• Chapter 8 Accounting for Share Capital
• Chapter 9 Issue of Debentures
• Chapter 10 Redemption of Debentures

Short Brief of the chapters of TS Grewal Class 12 Solutions

Below is the short brief of the chapters of TS Grewal class 12 solutions 2023: 

Company Accounts Financial Statements of Not-for-Profit Organisations

Not-for-profit organisations are entities that do not have goals of profit. Usually, they work for social causes or provide services to the public. These organisations are referred to as non-business entities. The accounting method of these entities varies due to the lack of presence of a profit agenda. 

The Not-for-Profit Organisations include hospitals, clubs, schools, charitable institutions, trade unions etc.

The Not-for-Profit organisations are managed by trustees who are completely accountable to their members and society for the usage of funds and the objectives of the organisation. 

Students will learn to calculate payments, receipts, liabilities etc. in the first chapter class 12 accounts TS Grewal solutions. 

Accounting for partnership firms: fundamentals

The entities where two or above people agree to share the business profit, liabilities, risk and responsibilities are partnership firms. They are governed by the norms of the Partnership Act, 1932. 

The people who have entered partnership with each other are called partners individually and generally a company, and the name under which their company is carried on is called the ‘name of the company’. Apart from the partners consulting the partnership, it is not a separate legal entity. 

To form a partnership firm, these must be a minimum of two persons. According to the Indian partnership ACT, 1932, it does not state the maximum number of partners in a partnership firm. 

The second chapter of class 12 accounts TS Grewal solutions focuses on the dispute settlement and then proceeds to numericals. The students will be able to learn to calculate the distribution of profit, capital interest, and a lot of other important concepts. 

Goodwill nature and valuation

Goodwill refers to the reputation which the company has earned over the years of its existence. The companies that have been running for a long time earn a good reputation as compared to other companies in the market. This good reputation finds valuation in monetary terms later. 

Features of Goodwill

• It is an intangible asset: Goodwill is an intangible asset which means it does not have a physical existence and cannot be seen or touched. It belongs to the category of intangible assets like patents, trademarks, etc. 

• The value of goodwill is liable to constant fluctuations: The goodwill does not depreciate but the value of goodwill is liable to constant fluctuations. It is always present in a silent asset in a business where there are super profits but decreases in value with the decrease in earnings. 

• It is difficult to place an exact value on goodwill: It is very difficult to place an exact value on goodwill because the value of goodwill may fluctuate with time due to the internal and external circumstances of the business. 

Goodwill is an intangible factor which is considered as an asset of the firm. In this chapter of TS Grewal class 12 solutions 2024-25 Volume-1, the student will learn the importance of goodwill in a business. 

Change in Profit- Sharing Ratio among the existing partners 

When partners agree upon a mutual contract, they decide to share a fixed amount of profit of the business among themselves. A profit-sharing ratio is decided to calculate the share of profit. This ratio depends on different factors. In this chapter 4 of the TS Grewal class 12 solutions 2024-25, a student understands how to calculate sacrificing ratio, profit-sharing ratio, gaining ratio etc. 

Admission of a partner 

When a new partner joins the company, the share of already-existing partners might get affected. In this case, to calculate the profit ratios, the prior accounts will have to be settled. 

The admission of a partner is required for the following reasons: 

• When a business wants expansion and requires more capital. 

• When a business needs an experienced person for its effective running. 

• When a business wants to increase its goodwill by taking a renowned person into the partnership. 

Retirement or death of a partner 

A partner may retire from the partnership firm: 

• With the consent of all the partners in the partnership firm. 
• At will i.e. partnership at will.
• By giving a notice to all the partners. 

When a partner retires, dies or withdraws from the business, the agreements in a partnership contract changes. In this case, to calculate the profit ratios, the prior accounts will have to be settled.

Dissolution of a partnership firm 

The word dissolution means the ending of breaking a partnership. A partnership firm can decide to stop its business. The reason could be anything, starting from debt to management politics. In this case, as per the contract agreements, the accounts of the partners are to be settled. In this chapter of class 12 accounts TS Grewal solutions, the students will learn how to do an account settlement in case of a firm dissolution. 

The following three chapters constitute the TS Grewal class 12 solutions 2024-25 Volume 2

Accounting for share capital

In this chapter of TS Grewal class 12 solutions 2023, there are seven questions and answers through which students will learn accounting for share capital. 

Issue of Debentures

Debentures are nothing but debt instruments. Different companies and governments issue them. The issue of debenture is very similar to the issuing of shares in a company. It depends on the reputation of a particular company. 

Debentures are a written document acknowledging a debt under the common seal of the business and containing a contract for the repayment of the principal sum at a specified date for the payment of interest at a fixed rate percent until the principal sum is paid. 

Redemption of Debentures

The students will study about the debenture redemption in the last chapter of TS Grewal class 12 solutions 2023. The process of discharging a company’s debt is called the redemption of debentures. It is the reimbursement of debentures by a company to the concerned debenture holders.