Question No 05 Chapter No 15 – USHA Publication 11 Class

Question No 05 Chapter No 15

Question No 05 Chapter No 15

Bill Retained till due date

5. On 30th November 2018, Mamta Drawn on Mayawati a bill for Rs 3,000. Mamta accepts this bill on 4th December 2018 and returns it to Mamta. The bill is due 3 months after date.
Pass the journal entries in the book of Both the parties, assuming that the bill is duly honoured on the due date.

The solution of Question No 05 Chapter No 15: –

In the books of Mamta (Drawer)
Date   Particulars
L.F. Debit Credit
2018          
Nov.30 Bills Receivable A/c Dr.   3,000  
  To Mayawati A/c       3,000
  (Being acceptance received for 2 months)      
         
Mar. 03 Cash A/c Dr.   3,000  
  To Bills Receivable A/c       3,000
  (Being bill received on maturity date )      
         

 

In the books of Mayawati (Drawee)
Date   Particulars
L.F. Debit Credit
2018          
Nov.30 Mamta A/c Dr.   3,000  
  To Bills Payable A/c       3,000
  (Being acceptance given for 2 months)      
         
Mar. 03 Bills Payable A/c Dr.   3,000  
  To Cash A/c       3,000
  (Being bill paid on maturity date )      
         

 

 

Bills Receivable Book | Subsidiary Books | Examples

 

Bills Payable Book | Subsidiary Books | Examples

 


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

Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting 

Chapter No. 3 – Origin of Transactions

Chapter No. 4 – Vouchers and transactions

Chapter No. 5 – Journal

Chapter No. 6 – Accounting for Goods and Services Tax(GST)

Chapter No. 7 – Ledger

Chapter No. 8 – Cash Book

Chapter No. 9 – Other Subsidiary Books

Chapter No. 10 – Journal Proper

Chapter No. 11 – Trial Balance

Chapter No. 12 – Bank Reconciliation Statement

Chapter No. 13 – Depreciation

Chapter No. 14 – Provisions and Reserves 

Chapter No. 15 – Bills of Exchange

Chapter No. 16 – Rectification of Errors 

Chapter No. 17 – Financial Statements – (Without Adjustments)

Chapter No. 18 – Financial Statements – (With Adjustments)

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