Question No 12 Chapter No 15 - USHA Publication 11 Class

Question No 12 Chapter No 15

Table of Contents

The solution of Question No 12 Chapter No 15: –

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

Endorsement of Bill

12. Sohal sold goods to Arbaz for Rs 2,000 on 1st April 2017. Arbaz accepts two bills of Rs 1,000 each for three months. Sohail endorses one bill to Naseer. On the due date, both bills are met.
Pass entries in the books of Sohail and Arbaz.

The solution of Question No 12 Chapter No 15: –

In the books of Sohail(Drawer)
Date	Particulars		L.F.	Debit	Credit
2018
Apr.1	Arbaz A/c	Dr.		2,000
	To Sale A/c				2,000
	(Being goods sold on credit)

Apr.1	Bills receivable A/c	Dr.		2,000
	To Arbaz A/c				2,000
	(Being bill drawn on arbaz)

Apr.1	Naseer A/c	Dr.		1,000
	To Bills receivable A/c				1,000
	(Being bill endorsed to Naseer)

Jul.4	Bills receivable A/c	Dr.		1,000
	To Cash A/c				1,000
	(Being bill paid on Maturity)

In the books of Arbaz(Drawer)
Date	Particulars		L.F.	Debit	Credit
2018
Apr.1	Purchases A/c	Dr.		2,000
	To Sohail A/c				2,000
	(Being purchases goods on credit)

Aug.7	Cash A/c	Dr.		2,000
	To Bills Receivable A/c				2,000
	(Being bill received from Sohial )

Jul.7	Bills payable A/c	Dr.		2,000
	To Cash A/c				2,000
	(Being bill paid on Maturity)