Question No 13 Chapter No 16 - T.S. Grewal 11 Class

Question No 13 Chapter No 16

Dishonour of the Bill

13. Ram draws a bill for 2,000 on Shyam on 15th September 2017 for 3 months. On maturity, Shyam failed to honour the bill. Pass the necessary Journal entries in the books of Ram and Shyam.

The solution of Question No 13 Chapter No 16: - 

Books of Ram

Date	Particulars		L.F.	Debit	Credit
Sep.15	Bills Receivable A/c	Dr.		2,000
	To Shyam				2,000
	(Being Shyam′s acceptance received)
Dec.18	Shyam A/c	Dr.		2,000
	To Bills Receivable A/c				2,000
	(Being Shyam′s acceptance dishonoured)

 

Books of Shyam

Date	Particulars		L.F.	Debit	Credit
	Ram A/c	Dr.		2,000
	To Bills Payable A/c				2,000
	(Being Bill drawn by Ram was accepted)
	Bills Payable A/c	Dr.		2,000
	To Ram A/c				2,000
	(Being Bills Payable dishonoured)

 

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Also, Check out the solved question of previous Chapters: -

• • Chapter No. 1 – Introduction to Accounting
  • Chapter No. 2 – Basic Accounting Terms
  • Chapter No. 3 – Theory Base of Accounting, Accounting Standards and International Financial Reporting Standards(IFRS)
  • Chapter No. 4 – Bases of Accounting
  • Chapter No. 5 – Accounting Equation
  • Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
  • Goods and Services Tax(GST)
  • Chapter No. 7 – Origin of Transactions – Source Documents and Preparation of Vouchers
  • Chapter No. 8 – Journal
  • Chapter No. 9 – Ledger
  • Chapter No. 10 – Special Purpose Books I – Cash Book
  • Chapter No. 11 – Special Purpose Books II – Other Books
  • Chapter No. 12 – Bank Reconciliation Statement
  • Chapter No. 13 – Trial Balance
  • Chapter No. 14 – Depreciation
  • Chapter No. 15 – Provisions and Reserves
  • Chapter No. 16 – Accounting for Bills of Exchange
  • Chapter No. 17 – Rectification of Errors
  • Chapter No. 18 – Financial Statements of Sole Proprietorship
  • Chapter No. 19 – Adjustments in preparation of Financial Statements
  • Chapter No. 20 – Accounts from incomplete Records – Single Entry System
  • Chapter No. 21 – Computers in Accounting
  • Chapter No. 22 – Accounting Software – Tally
  • Chapter No. 5 - Accounting Equation
  • Chapter No. 6 - Accounting Procedures - Rules of Debit and Credit
  • Goods and Services Tax(GST)
  • Chapter No. 8 - Journal
  • Chapter No. 9 - Ledger
  • Chapter No. 10 – Special Purpose Books I – Cash Book

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