Question No 05 Chapter No 13

Question No 05 Chapter No 13

05. B owed 20,400 to A. On 15th January, 2019, he accepted a bill for 20,000 for two months drawn by A in full settlement of his debt. On 18th January, 2019, A endorsed the bill to his creditor C. The bill was duly met on the date of maturity. Pass Journal entries in the books of A, B and C.

The solution of Question No 05 Chapter No 13: –

In the books of A (Drawer)
Date  Particulars
L.F.DebitCredit
2019     
Jan.18Bills Receivable A/cDr. 20,000 
 Discount Allowed A/cDr. 400 
 To B A/c   20,400
 (Being B accepted bill)    
      
Jan.18C A/cDr. 20,000 
 To Bills Receivable A/c   20,000
 (Being Bill endorsed in favor of C)    
     
In the books of B (Drawee)
Date  Particulars
L.F.DebitCredit
2019     
Jan.15A A/cDr. 20,400 
 To Bills Payable A/c   20,000
 To Discount Received A/c   400
 (Being Bill drawn by A, accepted)    
      
Mar. 18Bills Payable A/cDr. 20,000 
 To Cash A/c   20,000
 (Being Bill honoured on maturity)    
     
In the books of A (Drawer)
Date  Particulars
L.F.DebitCredit
2019     
Jan.18Bills Receivable A/cDr. 20,000 
 To A A/c   20,400
 (Being B accepted bill)    
      
Jan.18Cash A/cDr. 20,000 
 To Bills Receivable A/c   20,000
 (Being Bill honoured on maturity)    
     

Bills Payable Book | Subsidiary Books | Examples

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

D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution

Check out the Accountancy Class +1 by D.K. Goal (Arya Publication) from their official Site.

ISC Accounts 11 20 Image min 197x300 - Question No 05 Chapter No 13 - D.K Goal 11 Class
D K Goel accountancy +1 – ISC_Accounts_11_20_ImageQuestion No 42 Chapter No 11 – D.K Goal 11 Class

Leave a Reply

About us

About us, we are here to improve your knowledge in all financial & Business related topics and to get better carrier opportunities. The author has about 10-year Experience in tuition Business. It is very difficult to teach a large number of students with a personal touch or in a classroom. 

Animation's Resource websites

All Icons and images used on my website were downloaded from the following website please go and download free:-

close