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

Question No 13 Chapter No 16

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

    • 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

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T.S. Grewals Double Entry Book Keeping - Question No 13 Chapter No 16 - T.S. Grewal 11 Class

T.S. Grewal’s Double Entry Book Keeping

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