accountancy class 11 chapter 3 notes pdf
First, all the cash transactions are recorded first time in cash book it becomes Book of original entry. All questions have been solved in a step by step manner to you give better understanding of key concepts of Accountancy in NCERT Class 11. The studying process is student-specific I.e., some students prefer kinesthetic studying, some are auditory students, and others may find visual studying to be more efficient. Entries in this book are made on the basis of Debit Note. Rent received in advance Rs. SelfStudys provides CBSE Class 11 Chapter 3 Recording of Transactions revision notes that can be used as per the students’ requirements. Classification of Accounting Vouchers, Cash Vouchers Cash voucher is prepared to record all the transactions which involve cash either in the form of receipt or payment. 2. Economics Notes for class 12th Samashti. A. 30,000 Effect, Explanation:- As goods have been purchased on credit, one effect is that it should be shown on the assets side as goods & the other effect is that since goods have been purchased on credit, so it is to be shown in Liabilities as Creditors. GST belongs to the VAT family as tax revenues are collected on the basis of value added i.e. Most of the indirect taxes of the Centre and states are integrated under the GST. Suppose, a dealer of Gujarat Sell Goods of Worth Rs.10,000 to a dealer of Maharastra and IGST rate is 18%, the Rs. CBSE Notes - NCERT Solutions. Following two cases result in Contra entries. Chapter 4 Preparation Of Ledger. 2. Download Revision Notes of All Chapters for the latest Science syllabus. The CBSE Accountancy Revision Notes are available from class 6 to 10 for all their subjects while Class 11 and 12 students can refer revision notes for the core subjects like Maths, Physics, Chemistry and Biology. Copyright © 2021 CoolGyan.Org | All Right Reservd, CBSE Revision Notes for Class 11 Accountancy Chapter 3 – Recording of Transactions -I Vouchers, Journals and Ledgers – Free PDF Download. Total assets of the business firm are financed through the funds raised from either the outsiders (which generally consist of Creditors and lenders) or the Owners (which is called Capital). NCERT Solutions for Class 11. 5,000. By studying from certain revision notes and using sample papers, students will no doubt be able to relieve any tension before the examinations as they will be fully prepared in advance for their board exams. Chapter 5 Journal. Accounting Entries/Jounral Entries involving GST. Debit Voucher Debit voucher is prepared for all cash payment made by the business firm such as Payment of Rent payment of salary, payment for purchase of goods etc. However, it is important that you keep practising to get better. Cash Book with Cash and Bank Column In this case the Cash Book is ruled with two amount columns on either side of the cash book namely, “Cash and Bank”. Required fields are marked *. The books maintained are illustrated below: Advantages of Maintaining Subsidiary Books, Cash Book Cash book shows all the transactions related to cash receipts and payments. F. Commission received Rs. Chapter 3 Accounting Procedures Rules of Debit and Credit. Although business is a legal entity separate from its owners but He/She is the person who has taken the risk to do business. All the effects are as follows:- 1. Till the time that service/benefit is not availed/received, it is an Asset for the business. SelfStudys provides chapter-wise Accountancy Revision Notes and short key notes for the CBSE board examination in free downloadable PDF format so students can practice it for their studies and get better in their board examinations. A. ncert solutions. Download Now. Only transactions of cash receipts and payments are recorded in this book. Chapter 6 Ledger. study materials. Chapter 4 Origin of Transactions Source Documents and Preparation of Voucher. “PlUS” alway means …. As the students would have to learn the fundamentals about the subject of accountancy in Class 11, this curriculum for Class 11 is a comprehensive study material; which explains the concepts in a great way. Chapter 3 Recording Of Transactions. GST has eased the doing of business as most of the indirect taxes of centre and states are integrated under it (GST). Jain and V.K. At the end of given period, Head cashier reimburses the amount actually spent by the petty cashier resulting the same amount with petty cashier which he had in the beginning of the period. For setting off input SGST against output SGST. 20,000 Effect, Explanation:- The transaction will affect both the sides as cash has been paid, so it is to be deducted from cash and also from the creditors as the payment has been made to them. Transfer Voucher/Non-Cash Voucher This type of voucher is prepared in those transactions which do not involve Cash. Similarly Input SGST is set off first against output SGST and then against output IGST, if required. 80,000 Effect, Explanation:- The transaction will affect only one side as cash has been paid for purchased of machinery & Machine is a fixed asset, so it is shown separately on the assets side and also the cash has been reduced. C. Sold goods (costing Rs. Increase (+) in assets are debits; decreases (-) are credits. Transaction related to Bank, Note:- Bank A/C will be debited if the amount is deposited/credited by bank & Bank A/C will be credited if the amount is withdrawn/debited by bank. GST paid is categorised into input CGST, input SGST/UTGST and input IGST while GST collected is categorised into output CGST, output SGST/UTGST and output IGST. It will increase cash balance, so cash column is debited and bank balance will decrease, so bank column is credited. Our key Notes contain Comprehension and Composition Revision Notes. Increase in expenses (+) are debits; decreases (-) are credits. 8,000 Effect, Explanation:- The transaction will affect only one side. The credit note contains the details of customers and goods returned. 1 .Prepare accounting equation on the basis of the following: (a) Harsha started business with cash Rs 2, 00,000 (b) Purchased goods from Naman for cash Rs 40,000 (c) Sold goods to Bhanu costing Rs 10,000/- Rs 12,000 Class 6 - Class 7 - Class 8 - Class 9 Cash in hand/opening balance of cash is shown in Dr. side of the Cash book as “To Balance b/d”. Students who make Accountancy Revision Notes generally are capable to get good marks as they contain the difficulties and little details that could not be included in the textbook being used. Interest on drawings Rs. In case of : Assets and Expense “Debit” is “Plus” & “Credit” is Minus”, For Liabilities, Capital and Revenue “Credit” means “Plus” & “Debit” means “Minus”. PDF download free. Chapter 1 Basic Accounting Terms. The NCERT is the directorate that conducts the CBSE board, which is a nationwide curriculum followed by lacs of students in the country. Modern Rules of Debit and Credit, DEBIT-CREDIT-MATHEMATICS OF ACCOUNTS “Debit” and “Credit” are like “Plus” and “Minus” But a very Important Difference is there…. Our revision notes for CBSE NCERT books for Class 11 Accountancy provide simple and comprehensible study material as per the syllabus. Class 11 DK Goel Solutions will help you to revise complete Syllabus and Score More marks. Credit Voucher Credit voucher is prepared for cash received by the business firm Such as Sale of goods for Cash, Payment received from any of Debtors, Income received etc. It as an amount which has been paid by the business firm for a service/benefit to be availed/received in the future. Save my name, email, and website in this browser for the next time I comment. Students can easily access the latest Class 11 Accountancy Chapter 3 Notes from CoolGyan.Org and strengthen their understanding of Accountancy Class 11 Chapter 3 Recording of Transactions -I Vouchers, Journals and Ledgers. Download recording of transactions - i class 11 notes for free here. Transactions are recorded on the basis of an evidence. Download the key points in History, Civics, Geography and Economics with our Class 11 Social Science Revision Notes. Chapter 2: Theory Base Of Accounting Chapter 3: Recording Of Transactions I Chapter 4: Recording Of Transactions II Chapter 5: Bank Reconciliation Statement Chapter 6: Trial Balance Rectification Of Errors Chapter 7: Depreciation Provisions Reserves Chapter 8: Bill Of Exchange NCERT Solutions for Class 11 Accountancy. Students have to strengthen their studying, hence revisions are a way to begin about this phase. Together, students will be prepared to answer every type of question, both objective and subjective and aim for the best in their last year of school. Traditional Approach Under this approach, all ledger accounts are mainly classified into two categories:-, Rules of Debit/Credit under Traditional Approach, Rules of Debit/Credit under Modern Approach. Increase (+) in liabilities are credits; decreases (-) are debits. (a) Depositing cash into Bank Rs. Learning all the concepts and formulae is only one part of the examination process. It is also referred to as supporting document it is of prime importance as in the books of accounts. CBSE Class 11 Chapter 3 Recording of Transactions revision notes are very important and useful because, for the science and maths subjects, it is essential that all questions are explained in a quick and efficient manner. Cheques received should be entered on the debit side of the bank column when it deposited in the bank. The CBSE Class 11 Revision notes are made for some important subjects such as Maths, English, Hindi, Physics, Chemistry and Biology. The source documents for this book is duplicate copy of invoice/bills issued to the customers. 1,000. The best app for CBSE students now provides Recording of Transactions-I class 11 Notes Accountancy latest chapter wise notes for quick preparation of CBSE exams and school based annual examinations. Source document is the first evidence of a transaction which takes place such as Cash Memo, Bill or Invoice, Receipt, Pay-in-slip, cheques, Debit-Note & Credit -Note. Imprest System of Petty Cash Book Under this system, Head cashier gives a fixed amount to petty cashier for a definite period. E. Rent paid Rs. Recording in books of accounts are done on the basis of voucher. Revision Notes for Class 11 Accountancy offered by Vedantu is a step-by-step coverage of all the topics. NOTE:- The accounts of Assets and Expenses show Debit Balance and accounts of Liabilities, Capital and Revenue shown Credit Balance. Free PDF of DK Goel Solutions Class 11 Chapter 3 Accounting Principles with Solutions prepared by Subject Experts on Vedantu.com.Download All DK Goel Textbook solutions for class 11 chapter 3 to understand all concepts in deatils. Now that you are provided all the necessary information regarding CBSE Class 11 Accountancy Worksheet and we hope this detailed article is helpful. 1. The Centre and States will store GST tax revenues at 50:50 ratio (except the IGST). Access NCERT Solutions For Class 11 Accountancy Chapter 8 Short Answers for Class 11 Accountancy Chapter 8 – Bill of Exchange. PDF download free. It is an accounting evidence of a business transaction. CBSE Revision Notes for Class 11 Accountancy Chapter 3 – Recording of Transactions -I Vouchers, Journals and Ledgers – Free PDF Download. Purchases Returns/Returns Outward Book This book includes only those transactions which are related to returns of goods bought on credit. Also profit of Rs. Get key points for all Maths chapter before your examinations to get higher marks. Format of Journal, Ledger Folio (L.F.): Ledger Folio is the page No. This book never shows a credit balance because one can’t pay more than the cash one have. Here, business transactions are recorded in chronological order i.e. The Credit Note is used for recording entries in this book. If you are a Class 11 CBSE board student and looking to score well in Accountancy, then you should always refer to Basic Accounting Terms Class 11 Notes PDF available on Vedantu for free. TS Grewal Accountancy Class 11 Solutions 2019 Edition. of Ledger on which the Debit A/C & Credit A/C are to be posted. social science - History. Debit refer to the left side of an account and Credit refers to the right side of an account Approaches to the rules of Debit & Credit 1. Class 11 Accountancy Notes. in the order in which they occur. CBSE Accountancy Chapter 12 Computerized Accounting System class 11 Notes Accountancy in PDF are available for free download in myCBSEguide mobile app. GST reduces the cost of goods as GST paid (input GST) is set off against GST collected (output GST) and thus tax on tax is eliminated. A. This […] To register Online Tuitions on Vedantu.com to clear your doubts. Chapter Wise CBSE Quick Revision Notes and Key Points for Class 11 Accounts Notes Pdf free download was designed from the latest edition of NCERT books to get good marks in board exams.NCERT Accounts Class 11 Notes contains all chapters are part of Revision Notes Of Accounts Class 11.Here we have given CBSE Accounts Notes Class 11.Class 11 Accountancy Notes are available in PDF form and … CBSE Class 11 Accountancy Revision Notes Chapter 3 Recording of Transactions are one of the most important tools in study material that students can get as it will aid them to study properly and reduce any stress that they face during the academic year before. The best app for CBSE students now provides Theory Base of Accounting class 11 Notes Accountancy latest chapter wise notes for quick preparation of CBSE exams and school based annual examinations. The Cash received by the business should be added to the Cash column on the assets side. It as an amount which has been received by the business firm for an activity to be performed in the future. Saving of time and efforts of Head cashier. Class 11 Accountancy Chapter 3 Recording Of Transaction 1 Recording Of Transaction - I Recording of transaction- I is a process of accounting transactions of the business in several books of accounts like cash book, journal book, a ledger account, profit & loss account, etc. Our Accountancy Class 11 Chapter 1 Notes aid students to have a quick go-through of the various concepts and variables, which comprise accountancy. Purchases of Assets meant for long term, not for resale. Numerical Answers for NCERT Solution for Class 11 Accountancy Chapter 3 – Recording of Transactions – 1. GST integrates goods and service taxes into one unified tax regime by eliminating various unnecessary indirect taxes. The Chapter 3 Recording of Transactions revision notes can be simply downloaded in a PDF format directly with the weblink. Recording is made on the basis of Bills/ Invoices issued by the Suppliers. Transaction related to Expense or Income, Transactions related to Assets/Liabilities, Goods and Serices tax (GST) Gst is an indirect tax levied on the sale of goods and rendering of services. 13000 Effect, Explanation:- The transaction will affect both the sides as cash has been received, so it is to be added to cash (Rs. When cheque is received from customer and deposited into bank same day. Interest on Capital Rs. Also, interest on capital is the amount which is to be paid to the owner as the capital has been invested by him, therefore it is to be added back to the capital. B. Explain the purpose of maintaining a cash book. Transfer Voucher Your email address will not be published. Owner withdrew cash Rs. They provide students with an additional edge and help boost confidence before appearing for their examinations. The best app for CBSE students now provides Introduction to Accounting class 11 Notes Accountancy latest chapter wise notes for quick preparation of CBSE exams and school based annual examinations. sales out side the state) and the entire amount will go to Central Government. PDF Download Free. In view of the coronavirus pandemic, we are making LIVE CLASSES and VIDEO CLASSES completely FREE to prevent interruption in studies CBSE Class 12 Indian Economic Development, Class 10 English Footprints Without Feet notes, Class 12 Indian Economic Development solutions, Class 12 Accountancy Part 1 Partnership Accounts, Class 12 Accountancy Part 2 Company Accounts and Analysis of Financial Statements, Differences & Comparisons Articles in Biology, T.R. Transaction related to interest on drawings As interest on drawings is an income for the business, it should be added to the capital. An account is a summarised record of transactions related to a particular head at one place . CBSE Accountancy Chapter 3 Recording of Transactions-I class 11 Notes Accountancy in PDF are available for free download in myCBSEguide mobile app. GST came into effect from July 1, 2017 and replaced existing multiple cascading taxes levied by the Central and State Governments. Last-minute revision is never easy. Credit Side. Learning Objectives After studying this chapter, you should be able to: Suggested Method: Discussion Method, Illustration method, problem solving method etc. According to Business entity concept, Business is a legal entity separate from its owners and thus the amount invested by the owner in the business (called Captial) is a liability for the business. A. When any payment is made by cheque : It will reduce the bank balance and thus bank column will be credited. Educational Study Material. 10,000 Effect, Explanation:- The transaction will affect both the sides as the Accrued Income has been added back to the capital & as it is not received so it is to be shown in the assets side as an assets. Expense paid by bank / Cash by the Business. In view of the coronavirus pandemic, we are making LIVE CLASSES and VIDEO CLASSES completely FREE to prevent interruption in studies 13,000) & Goods are to be reduced by Rs 10,000 as goods have been sold. When any payment is received in the form of cheque and it is deposited into bank on same day than bank A/c will be debited. The CBSE Accountancy Revision Notes are prepared with each chapter explained in a concise manner from the latest edition of the books. Record transactions in journal and other subsidiary books. Study the chapters easily to prepare for your Hindi exams. These study materials are designed in such a way that studying these ensure the highest possible marks in the exam. Transactions not recorded in Sales Book. Chapter 11 - Computers in Accounting; Chapter 12 - Projects; Class 11 Accountancy Notes PDF Free Download. 8,000. To indicate contra entry “C” is mentioned in the L.F. column of the cash Book. Write two points of distinction between bills of exchange and promissory note. The best app for CBSE students now provides Recording of Transactions-II class 11 Notes Accountancy latest chapter wise notes for quick preparation of CBSE exams and school based annual examinations. Transaction related to Interest on Capital As interest on capital is an expense for the business, it should be deducted from the capital. To register Online Tuitions on Vedantu.com to clear your doubts. It means that every transaction in accounting affects both Debit (Dr.) and Credit (Cr.) Journal The first book in which the transactions of a business unit are recorded is called Journal. Till the time that activity is not performed, it is a liability for the business. Thus cash voucher is further classified into Debit Voucher & Credit Voucher. CBSE Accountancy Chapter 4 Recording of Transactions-II class 11 Notes Accountancy in PDF are available for free download in myCBSEguide mobile app. Liabilty arise when business raise funds. 9%, 5% 12%, 18% and 28% except petroleum products and alcoholic drinks. Petty Cash Book Business has to incur small expenses which are repetitive in nature. These notes are designed as per the latest CBSE guidelines and are quite important to every student of Class 11. Contra Entries : These entries affect cash and bank columns both at the same time. NCERT Solutions for Class 11. Debit all Losses/Expenses, Credit all Income / Gains. Transaction related to drawings As drawings is the amount withdrawn by the owner from the business, so it is to be deducted from the capital & also from the asset which has been withdrawn. Next Prev Home. Our Revision Notes cover CBSE Physics, Biology and Chemistry subjects. He is entrusted with the duty of paying these expenses. GST ensure timely collection of taxes and electronic return filing which reduces the possibilities of tax evasion. But these different processes are just a part of the studying experience, the other important aspect is the revision. Transaction affecting one side of the equation: (I) Transaction affecting Assets side of the equation: Transaction related to Prepaid or Advance Expense As the expense has been paid in advance so it does not belong to the current financial year, so it can not be deducted from the Capital. Economics Notes for class 11th Development. Next Prev Home. Source Documents A written document which provides evidence of the transactions is called the Source Document. Books of Original Entry/Special Purpose Books As the business grows and number of transactions increase, it becomes necessary for the necessary for the business to divide the recording work. Get better marks with CBSE English Revision Notes for Class 11. Each record in a journal is called an entry. Format of Credit Voucher CBSE Schools Educational Study Material. Note: Input IGST is first set off against output IGST, then against output CGST and then against output CGST, if required. Capital + Liabilities) Assets = Capital + Liabilities Analysis of Business Transactions Business transactions may affect either both sides of the equation or one side of the equation but the ultimate effect must be equal on both the sides. The CBSE Class 11 Accountancy Revision Notes Chapter 3 Recording of Transactions are available in a PDF format so that students can simply refer to it whenever required thorough SelfStudys. Note:- Cash will also be debited if business receives it & Credited if Business paid it. GST proposes a four-tier rate structure. 10000) for cash at Rs. In fact, CGST indicate the share of Central Government while SGST indicate the share of State Government. CBSE Class 11 Accountancy Chapter 3 Notes PDF Download is available here. The solutions provided here cover all exercises given at the end of the chapter Accountancy. Cheques. A. Download circles, trigonometry and more with Maths Revision Notes for CBSE students. Chapter-wise NCERT Accountancy Book 1 for Class 11 in English Source Documents and Accounting Equation Source Documents It is a written document which contains details of the transactions prepared at the time, it is entered into. Free PDF download of Class 11 Accountancy Chapter-3 Recording Of Transactions - I Revision Notes & Short Key-notes prepared by our expert Accountancy teachers from latest edition of CBSE(NCERT) books. 5000 Effect, Explanation:-The transaction will affect both the sides as the advance Income is a Liability and should be shown on the Liabilities side. Record transactions using rules of debit and credit. Such as Credit Sales, Credit Purchases, Bad Debts, Depreciation charged etc. Apply accounting equation to explain the effect of transactions. All the revision notes have been made in accordance with the latest CBSE syllabus so that there is no mistake if changes have been created by the CBSE board. Cash book serves two purposes. The Chapter 3 Recording of Transactions revision notes have been made by teachers who have vast experience and know exactly what is needed. CBSE Revision Notes for Class 11 Accountancy PDF Download is available here for you which will help you score better in exams. The Interest on Capital should be added to as well as deducted from the capital resulting in no impact on the previous accounting equation. B. The GST going to the centre is called Central GST and that goes to the states is known as State GST. Introduction of GST and removal of multiple indirect taxes will increase foreign direct investment also in the country. Expense is outstanding during a Current F.Y. The CBSE Accountancy Revision Notes Chapter 3 Recording of Transactions have been widely compiled by teachers with close to 15 years of experience and after studying the last ten years of examination papers. The Accountancy Revision Notes can play a role in helping easier studying methods. Points to Remember. 1,000 It will increase bank balance, so bank column is debited and flash balance will decrease, so cash column is credited. Effect, Explanation:- The transaction will affect both the sides as cash has been paid, so it is to be reduced and also the capital is to be reduced because the expense is to be borne by the owner. previous years exam papers for class 10th. Our CBSE Chapter 3 Recording of Transactions revision notes summarise key points of a chapter in an easy to remember form. Further, they are all made with the latest educational year's subject material so that any deviation in the syllabus is considered as well. Also, the CBSE Class 11 Accountancy Revision Notes Chapter 3 Recording of Transactions PDF is easy to read and includes all the material, all clearly described and in a short manner. NCERT Solution For Class 11 Accountancy Chapter 2 – Theory Base Of Accounting furnishes us with an all-inclusive data to all the concepts. For setting off input IGST against output IGST. Browse further to download free CBSE Class 11 Accountancy Worksheets PDF. For setting off Input CGST against output CGST. Voucher A voucher is a document evidencing a business transaction. Transaction related Advance Income As the Income has been received in advance, it does not belong to the current financial year and thus it cannot be added to the Capital. Free PDF download of Class 12 Accountancy Chapter 3 – Reconstitution of Partnership Quick Revision Notes & Short Key-notes prepared by our expert Accountancy teachers from latest edition of CBSE(NCERT) books. Chapter 7 Special Purpose Books Cash Book The tax slabs are fixed at 5%, 12%, 18% and 28% besides the 0% tax on essentials. The payments by cheques should be entered on the credit side in bank column and also when cash is withdrawn from the bank. Transaction related to Expenses All the expenses and Losses are to be borne by the owner. Goods and Services are divided into five tax slabs for collection of tax i.e. As the journal is the first book in which entries are recorded, it is also known as a book of original entry. Interest on drawings should be added to as well as deducted from the capital as both of them belong to the owner. Promissory Notes. Second, there is no need to prepare Cash a/c in ledger it also play the role of Principal Book. 1,000 Effect, Explanation:- The transaction will affect only the liabilities side. Net effect will remain same for both sides D. Paid to creditors Rs. Transaction affecting both sides of the equation: A. Commenced business with cash Rs 3,00,000, Explanation:- As Cash is invested by the owner, it should be shown as the Capital (anything which is brought in by the owner is termed as Capital) & the business is receiving an asset in the form of cash, so it is to be shown on the Assets side as Cash. Ohri – Statistics for Economics Solutions for Class 11, Sandeep Garg Solutions Macroeconomics Class 12, Sandeep Garg Microeconomics Class 11 Solution, Sandeep Garg Solutions Class 11 Economics, Recording of Transactions -I Vouchers, Journals and Ledgers, Cash+Stock+Accured Income+Prepaid Expense, Cash+Stock+Accured Income+Prepaid Insurance+Machinery, 2,17,000 + 20,000 + 10,000 + 4,000 + 80,000, Personal Accounts (All Personal Accounts), Debit what Comes In, Credit whats Goes Out. side equally. Download Class 11 Accountancy NCERT Solutions in pdf free. Input CGST is first set off against output CGST & then against output IGST. Simple Cash Book All the cash receipts are shown in left hand side i.e. Rules of Debit and Credit Every business transaction affects two or more accounts. Get chapter wise solutions. Also, the CBSE Class 11 Accountancy Revision Notes Chapter 3 Recording of Transactions PDF is easy to read and includes all the material, all clearly described and in a short manner. Educational Study Material. Integrated GST (IGST) is levied on inter state supply (i.e. sales within the state) at half of the prescribed rate of tax. Name any two types of commonly used negotiable instruments. CBSE Class 11 Accountancy Notes are available for free here. 10,000 Effect, Explanation:- The transaction will affect both the sides as drawings should be deducted from the capital & also from the cash. The teachers who prepare these Accountancy Revision Notes have done so after rigorously going through the last ten year's question papers and then taking them down. Important Entries 1. Students can also download CBSE Class 11 Accountancy Chapter wise question bank pdf and access it anytime, anywhere for free. Also the interest on drawings is the amount which is to be paid by the owner to the business, so it is treated as drawings and deducted from the capital. The goods may be returned due to various reasons such as goods bought being defective, supply of inferior quality goods etc. A. Prepaid insurance Rs. Head Cashier →→ Petty Cashier Advantage of Petty Cash Book, Special Purpose Subsidiary Books Purchases Book In this book, only those transactions are recorded which are related to credit purchases of goods in which the business deals in. Increase (+) in revenues are credits; decreases (-) are debits. Accounting equation thus refers to an equation in which total assets are always equal to the total Liabilities (i.e. If you have any queries regarding TN State Board New Syllabus Samacheer Kalvi 11th Standard Accountancy Guide Pdf of Text Book Back Questions and Answers, Notes, Chapter Wise Important Questions, Model Question Papers with Answers, Study Material, Question Bank, Formulas, drop a comment below and we will get back to you at the earliest.