Question No 13 Chapter No 15 – USHA Publication 11 Class

Question No 13 Chapter No 15

Question No 13 Chapter No 15

Endorsement of Bill

13. On 15th August 2017. a sold goods to B for Rs 15,000 and drew upon him a three months bill for the amount. B accepted the bill. After 10 days. A endorsed the bill to his creditor C. on the due date, the acceptance was duly met.Pass journal entries in the book of A, B and C.

The solution of Question No 13 Chapter No 15: –

In the books of A (Drawer)
Date   Particulars
L.F. Debit Credit
2018          
Aug.15 B A/c Dr.   15,000  
  To Sale A/c       15,000
  (Being goods sold on credit)        
           
Aug.15 Bills receivable A/c Dr.   15,000  
  To B A/c       15,000
  (Being bill drawn on B)        
           
Aug.25 C A/c Dr.   15,000  
  To Bills receivable A/c       15,000
  (Being bill endorsed to C)        
         

 

In the books of B (Drawer)
Date   Particulars
L.F. Debit Credit
2018          
Aug.15 Purchases A/c Dr.   15,000  
  To A A/c       15,000
  (Being purchases goods from A on credit)        
           
Aug.15 A A/c Dr.   15,000  
  To Bills Receivable A/c       15,000
  (Being bill received from A )        
           
Nov. 18 Bills payable A/c Dr.   15,000  
  To Cash A/c       15,000
  (Being bill paid on Maturity)        
         

 

In the books of C
Date   Particulars
L.F. Debit Credit
2018          
Aug.25 Bills receivable A/c Dr.   15,000  
  To A A/c       15,000
  (Being endorsed bill received from A)        
           
Nov. 18 Bills payable A/c Dr.   15,000  
  To Cash A/c       15,000
  (Being bill paid on Maturity)        
         

 

 

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: –

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting 

Chapter No. 3 – Vouchers and transactions

Chapter No. 4 – Journal

Chapter No. 5 – Ledger

Chapter No. 6 – Cash Book

Chapter No. 7 – Other Subsidiary Books

Chapter No. 8 – Journal Proper

Chapter No. 9 – Trial Balance 

Chapter No. 10 – Bank Reconciliation Statement

Chapter No. 11 – Depreciation

Chapter No. 12 – Provisions and Reserves 

Chapter No. 13 – Bills of Exchange

Chapter No. 14 – Rectification of Errors 

Chapter No. 15 – Financial Statements – (Without Adjustments)

Chapter No. 16 – Financial Statements – (With Adjustments)

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