Question No 13 Chapter No 16 - T.S. Grewal 11 Class

Question No 13 Chapter No 16

Dishonour of the Bill

13. Ram draws a bill for 2,000 on Shyam on 15th September 2017 for 3 months. On maturity, Shyam failed to honour the bill. Pass the necessary Journal entries in the books of Ram and Shyam.

The solution of Question No 13 Chapter No 16: –

Books of Ram
Date	Particulars		L.F.	Debit	Credit

Sep.15	Bills Receivable A/c	Dr.		2,000
	To Shyam				2,000
	(Being Shyam′s acceptance received)
Dec.18	Shyam A/c	Dr.		2,000
	To Bills Receivable A/c				2,000
	(Being Shyam′s acceptance dishonoured)

Books of Shyam
Date	Particulars		L.F.	Debit	Credit

	Ram A/c	Dr.		2,000
	To Bills Payable A/c				2,000
	(Being Bill drawn by Ram was accepted)
	Bills Payable A/c	Dr.		2,000
	To Ram A/c				2,000
	(Being Bills Payable dishonoured)

Bill of exchange (BOE): Meaning and Examples

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- Chapter No. 1 – Introduction to Accounting
- Chapter No. 2 – Basic Accounting Terms
- Chapter No. 3 – Theory Base of Accounting, Accounting Standards and International Financial Reporting Standards(IFRS)
- Chapter No. 4 – Bases of Accounting
- Chapter No. 5 – Accounting Equation
- Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
- Goods and Services Tax(GST)
- Chapter No. 7 – Origin of Transactions – Source Documents and Preparation of Vouchers
- Chapter No. 8 – Journal
- Chapter No. 9 – Ledger
- Chapter No. 10 – Special Purpose Books I – Cash Book
- Chapter No. 11 – Special Purpose Books II – Other Books
- Chapter No. 12 – Bank Reconciliation Statement
- Chapter No. 13 – Trial Balance
- Chapter No. 14 – Depreciation
- Chapter No. 15 – Provisions and Reserves
- Chapter No. 16 – Accounting for Bills of Exchange
- Chapter No. 17 – Rectification of Errors
- Chapter No. 18 – Financial Statements of Sole Proprietorship
- Chapter No. 19 – Adjustments in preparation of Financial Statements
- Chapter No. 20 – Accounts from incomplete Records – Single Entry System
- Chapter No. 21 – Computers in Accounting
- Chapter No. 22 – Accounting Software – Tally
- Chapter No. 5 – Accounting Equation
- Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
- Goods and Services Tax(GST)
- Chapter No. 8 – Journal
- Chapter No. 9 – Ledger
- Chapter No. 10 – Special Purpose Books I – Cash Book