Question No 28 Chapter No 16 - T.S. Grewal 11 Class

Books of X

Date	Particulars		L.F.	Debit	Credit
2018
Jan.01	Y A/c	Dr.		4,500
	To Sales A/c				4,500
	(Being Goods was sold to Y)
Jan.01	Bills Receivable A/c Billno1	Dr.		1,000
	Bills Receivable A/c Billno2	Dr.		1,500
	Bills Receivable A/c Billno3	Dr.		2,000
	To Y A/c				4,500
	(Being Y′s acceptance was received)
Jan.03	Z A/c	Dr.		1,500
	To Bills Receivable A/c Billno2				1,500
	(Being Bill Receivable endorsed in favour of Z)
Jan.04	Bills Sent for Collection A/c	Dr.		2,000
	To Bills Receivable A/c Billno3				2,000
	(Being Billno3 validity for 3months was dishonoured on due date)
Feb.04	Y A/c	Dr.		1,010
	To Bills Receivable A/c Billno1				1,000
	To Cash A/c				10
	(Being Bill dishonoured whose maturity period was 1month)
Mar.04	Y A/c	Dr.		1,515
	To Z A/c				1,515
	(Being Bill endorsed to Z dishonoured)
Apr.04	Y A/c	Dr.		2,020
	To Bills Receivable A/c Billno1				2,000
	To Bank A/c				20
	(Being Bill which had sent to the bank for collection now dishonoured and the bank paid noting charges)

 

 

Books of Y

Date	Particulars		L.F.	Debit	Credit
2018
Jan.01	Purchases A/c	Dr.		4,500
	To X A/c				4,500
	(Being goods were bought from X)
Jan.01	X A/c	Dr.		4,500
	To Bills Payable A/c Billno1				1,000
	To Bills Payable A/c Billno2				1,500
	To Bills Payable A/c Billno3				2,000
	(Being Three bill drawn by X were accepted)
Feb.04	Bills Payable A/c Billno1	Dr.		1,000
	Noting Charges A/c	Dr.		10
	To X A/c				1,010
	(Being Bill Payable for 1month was dishonoured)
Mar.04	Bills Payable A/c Billno1	Dr.		1,500
	Noting Charges A/c	Dr.		15
	To X				1,515
	(Being Billno2 was no honoured)
Apr.04	Bills Payable A/c Billno3	Dr.		2,000
	Noting Charges A/c	Dr.		20
	To X A/c				2,020
	(Being Billsno3 dishonoured)

 

Books of Z

Date	Particulars		L.F.	Debit	Credit
2018
Jan.03	Bills Receivable A/c	Dr.		1,500
	To X A/c				1,500
	(Being Bill Receivable received from X)
Apr.04	X A/c	Dr.		1,515
	To Bills Receivable A/c				1,500
	To Bank A/c				15
	(Being Bill received from X was 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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