Question No 21 Chapter No 14 – Class 11 Unimax

Date	Particulars		L.F.	Debit	Credit
2020
Jan. 1	Bill Receivable A/c (1)	Dr.		4,000
	Bill Receivable A/c (2)			5,000
	Bill Receivable A/c (3)			6,000
	To Mohan A/c				15,000
	(Being three bills for one, two and three months drawn and accepted)
Jan. 10	Sohan A/c	Dr.		4,120
	To Bill receivable A/c				4,000
	To Discount A/c				120
	(Being the first bill endorsed to creditor Sohan in full settlement)
Jan. 20	Bank A/c	Dr.		4,850
	Discount A/c	Dr.		150
	To Bill receivable A/c (2)				5,000
	(Being the demand bill discounted from bank)
Mar. 4	Mohan A/c	Dr.		5,040
	To Bank A/c				5,040
	(Being the demand bill dishonoured and paid ₹ 40 as noting charges)
Mar. 4	Bill receivable A/c			5,240
	To Mohan A/c				5,040
	To Interest A/c				200
	(Being a fourth bill for two months with interest in clued in it drawn and accepted)
Mar. 4	Cash A/c			5,925
	Rebate A/c			75
	To Bill receivable A/c (3)				6,000
	(Being the third bill retired to a rebate 15 p.a. before one month)
May 4	Bill for collection A/c			5,240
	To Bill receivable A/c (4)				5,240
	(Being the fourth bill sent to bank collection)
May 7	Bank A/c	Dr.		5,240
	To Bill for collection A/c				5,240
	(Being the fourth bill met at maturity)

 

Journal for Mr. ‘Mohan’ (Drawee)

Date	Particulars		L.F.	Debit	Credit
2020
Jan. 1	Ram A/c	Dr.		15,000
	To Bill payable A/c (1)				4,000
	To Bill payable A/c (2)				5,000
	To Bill payable A/c (3)				6,000
	(Being three bills for one, two three months accepted and returned)
Feb. 4	Bill payable A/c	Dr.		4,000
	To Cash A/c				4,000
	(Being the first bill met at maturity)
Mar. 4	Bills payable A/c (1)	Dr.		5,000
	Nothing charges A/c	Dr.		40
	To Ram A/c				5,040
	(Being the demand bill dishonoured and ₹ 40 paid as noting charges)
Mar. 4	Ram A/c	Dr.		5,040
	Interest A/c	Dr.		200
	To Bill payable A/c (4)				5,240
	(Being a new bill for 3 months with interest @ 9% p.a. accepted and returned)
Mar. 4	Bills payable A/c (3)	Dr.		6,000
	To Cash A/c				5,925
	To Rebate A/c				75
	(Being third bill paid under a Rebate @ 15% p.a. before one month)
May 7	Bills payable A/c	Dr.		5,240
	To Cash A/c				5,240
	(Being own acceptance met on due date)

 

Journal for Mr. ‘Sohan’ (Endorsee)

Date	Particulars		L.F.	Debit	Credit
2020
Jan. 10	Bills payable A/c (1)	Dr.		4,000
	Discount A/c	Dr.		120
	To Ram A/c				4,120
	(Being the bill for one month received from Mr. Ram)
Feb. 4	Cash A/c	Dr.		4,000
	To Bill receivable A/c				4,000
	(Being bill met on due date)

 

Read out the full article to know the meaning of Cash Book

Bill of exchange (BOE): Meaning and Examples

Also, Check out the same article in Hindi from the following link

Bill of exchange (BOE): Meaning and Examples

Also, Check out the solved question of all Chapters: –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Part-I

• Chapter No. 1 - Introduction of Accounting
• Chapter No. 2 - Theory Base of Accounting
• Chapter No. 3 - Vouchers and Transactions
• Chapter No. 4 - Journal
• Chapter No. 5 - Goods and Services Tax (GST): An Introduction
• Chapter No. 6 - Ledger
• Chapter No. 7 - Special Purpose Book -  Cash Book
• Chapter No. 8 - Other Subsidiary Books 
• Chapter No. 9 - Trial Balance 
• Chapter No. 10 - Rectification of Errors
• Chapter No. 11 - Depreciation
• Chapter No. 12 - Provision and Reserves
• Chapter No. 13 - Bank Reconciliation Statement
• Chapter No. 14 - Bills of Exchange 

Students may choose only one part from the Part II and Part III

Part-II

• Chapter No. 15 - Financial Statements (Without Adjustments)
• Chapter No. 16 - Financial Statements (With Adjustments)
• Chapter No. 17 - Accounts from Incomplete Records -  Single Entry System

Part-III

• Chapter No. 18 - Introduction to Computers and Accounting information System
• Chapter No. 19 - Computerised Accounting
• Chapter No. 20 - Accounting Software: Tally 
• Chapter No. 21 - Data Base System
• Chapter No. 22 - Concept of Entity and Relationship 

Check out T.S. Grewal +1 Book 2019 @ Oficial Website of Sultan Chand Publication