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Question No 13 Chapter No 15 – USHA Publication 11 Class

Question No 13 Chapter No 15
Q-13 - CH-15 - USHA +1 Book 2020 - Solution

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Question No 13 Chapter No 15

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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.DebitCredit
2018     
Aug.15B A/cDr. 15,000 
 To Sale A/c   15,000
 (Being goods sold on credit)    
      
Aug.15Bills receivable A/cDr. 15,000 
 To B A/c   15,000
 (Being bill drawn on B)    
      
Aug.25C A/cDr. 15,000 
 To Bills receivable A/c   15,000
 (Being bill endorsed to C)    
     

 

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

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In the books of C
Date  Particulars
L.F.DebitCredit
2018     
Aug.25Bills receivable A/cDr. 15,000 
 To A A/c   15,000
 (Being endorsed bill received from A)    
      
Nov. 18Bills payable A/cDr. 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: –

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

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting 

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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

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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 

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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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