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
| 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
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