Question No 14 Chapter No 14 – Class 11 Unimax

14. A sold goods to P on credit for ₹ 15,000 on 1st Sept.2019. P pays ₹ 5,000 immediately in cash and a three months acceptance for the balance. A endorses the bill in favour of R. On due date, the bill is not met and R pays ₹ 100 as noting charges.
Pass journal entries in books of A, P & R.

Table of Contents

The solution of Question No 14 Chapter No 14 – UNIMAX Class 11

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

The solution of Question No 14 Chapter No 14 – UNIMAX Class 11

Journal for Mr. ‘A’ (Drawer)
Date	Particulars		L.F.	Debit	Credit
2019
Sep.1	P’s A/c	Dr.		15,000
	To Sales A/c				15,000
	(Being goods sold on credit)

Sep.1	Cash A/c	Dr.		5,000
	To P’s A/c				5,000
	(Being cash received from ‘P’)

Sep.1	Bill receivable A/c	Dr.		10,000
	To P’s A/c				10,000
	(Being the bill for 3 months drawn and accepted)

Sep.1	R’s A/c			10,000
	To Bill receivable A/c				10,000
	(Being the bill endorsed to creditor Mr. ‘R’)

Dec. 1	P’s A/c	Dr.		10,100
	To R’s A/c				10,100
	(Being the bill dishonoured and noting charges paid by Mr.’ R’)

Journal for Mr. ‘P’ (Drawee)
Date	Particulars		L.F.	Debit	Credit
2019
Sept. 1	Purchases A/c	Dr.		15,000
	To A’s A/c				15,000
	(Being the goods purchased on credit)

Sept. 1	A’s A/c	Dr.		5,000
	To Cash A/c				5,000
	(Being cash paid to Mr. ‘A’)

Sept. 1	A’s A/c			10,000
	To Bill payable A/c				10,000
	(Being the bill for 3 months accepted and returned)

Dec. 1	Bill payable A/c	Dr.		10,000
	Noting charges A/c	Dr.		100
	To A’s A/c				10,100
	(Being the bill dishonoured on due date and ₹ 100 as noting charges paid)

Journal for Mr. ‘T’ (Endorsee)
Date	Particulars		L.F.	Debit	Credit
2019
Sept. 1	Bill receivable A/c	Dr.		10,000
	To A’s A/c				10,000
	(Being a bill received from Mr. ‘A’)

Dec. 1	A’s A/c	Dr.		10,100
	To Bill receivable A/c				10,000
	To Cash A/c				100
	(Being the bill dishonoured and ₹ 100 paid as noting charges)

Read out the full article to know the meaning of Cash Book

Bill of exchange (BOE): Meaning and Examples

Also, Check out the same article in Hindi from the following link

Bill of exchange (BOE): Meaning and Examples

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

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Part-I

Chapter No. 1 – Introduction of Accounting
Chapter No. 2 – Theory Base of Accounting
Chapter No. 3 – Vouchers and Transactions
Chapter No. 4 – Journal
Chapter No. 5 – Goods and Services Tax (GST): An Introduction
Chapter No. 6 – Ledger
Chapter No. 7 – Special Purpose Book – Cash Book
Chapter No. 8 – Other Subsidiary Books
Chapter No. 9 – Trial Balance
Chapter No. 10 – Rectification of Errors
Chapter No. 11 – Depreciation
Chapter No. 12 – Provision and Reserves
Chapter No. 13 – Bank Reconciliation Statement
Chapter No. 14 – Bills of Exchange

Students may choose only one part from the Part II and Part III

Advertisement-X

Part-II

Chapter No. 15 – Financial Statements (Without Adjustments)
Chapter No. 16 – Financial Statements (With Adjustments)
Chapter No. 17 – Accounts from Incomplete Records – Single Entry System

Part-III

Chapter No. 18 – Introduction to Computers and Accounting information System
Chapter No. 19 – Computerised Accounting
Chapter No. 20 – Accounting Software: Tally
Chapter No. 21 – Data Base System
Chapter No. 22 – Concept of Entity and Relationship

Check out T.S. Grewal +1 Book 2019 @ Oficial Website of Sultan Chand Publication