Question No 06 Chapter No 13 - D.K Goal 11 Class

Question No 06 Chapter No 13

Table of Contents

The solution of Question No 06 Chapter No 13: –

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

Sending the Bill to Bank for Collection

06. On 10th January 2017, A sells goods to B for 12,000. On that date, B accepted a bill drawn upon him by A at two months for 12,000. A retains the bill till the due date and on due date sends the bill to the Banker for collection. In due course, A receives the information from the Bank that the bill has been duly met.
Pass Journal Entries in the books of A and B.

The solution of Question No 06 Chapter No 13: –

In the books of A (Drawer)
Date	Particulars		L.F.	Debit	Credit
2019
Jan.10	B A/c	Dr.		12,000
	To Sale A/c				12,000
	(Being B accepted bill)

Jan.10	Bills Receivable A/c	Dr.		12,000
	To B A/c				12,000
	(Being B accepted the bill)

Mar. 13	Bill Sent for Collection A/c	Dr.		12,000
	To Bills Receivable A/c				12,000
	(Being Bills sent to bank for collection)

Mar. 13	Bank A/c	Dr.		12,000
	To Bills Sent for Collection A/c				12,000
	(Being Bill honoured on maturity)

In the books of B (Drawee)
Date	Particulars		L.F.	Debit	Credit
2019
Jan. 10	Purchases A/c	Dr.		12,000
	To A A/c				12,000
	(Being Goods purchased from A)

Jan. 10	A A/c	Dr.		12,000
	To Bills Payable A/c				12,000
	(Being Bill drawn by A, accepted)

Mar. 13	Bills Payable A/c	Dr.		12,000
	To Cash A/c				12,000
	(Being Bill honoured on maturity)

Bills Payable Book | Subsidiary Books | Examples

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

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

Chapter 1 Evolution of Accounting & Basic Accounting Terms
Chapter 2 Accounting Equations
Chapter 3 Meaning and Objectives of Accounting
Chapter 4 Double Entry System
Chapter 5 Books of Original Entry – Journal
Chapter 6 Accounting for Goods and Service Tax (GST) (Coming soon)
Chapter 7 Books of Original Entry – Cash Book (Coming soon)
Chapter 8 Books of Original Entry – Special Purpose Subsidiary Books (Coming soon)
Chapter 9 Ledger (Coming soon)
Chapter 10 Trial Balance and Errors (Coming soon)
Chapter 11 Bank Reconciliation Statement (Coming soon)
Chapter 12 Depreciation (Coming soon)
Chapter 13 Bills of Exchange (Coming soon)
Chapter 14 Generally Accepted Accounting Principles(GAAP)
Chapter 15 Bases of Accounting
Chapter 16 Accounting Standards and International Financial Reporting Standard(IFRS) (Coming soon)
Chapter 17 Capital and Revenue
Chapter 18 Provisions and Reserves
Chapter 19 Final Accounts (Coming soon)
Chapter 20 Final Accounts – With Adjustments (Coming soon)
Chapter 21 Errors and their Rectification (Coming soon)
Chapter 22 Accounts from Incomplete Records – Single Entry System (Coming soon)
Chapter 23 Accounts of Not-for-Profit Organisations (Coming soon)
Chapter 24 Computerised Accounting System (Coming soon)
Chapter 25 Introduction to Accounting Information System (Coming soon)

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

Question No 06 Chapter No 13 – D.K Goal 11 Class

The solution of Question No 06 Chapter No 13: –

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

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