Question No 15 Chapter No 14 – Class 11 Unimax

15.On 13th June,2019 A receives two acceptance from B for ₹ 6,000 and 4,000 for two months and 3 months respectively. On 1st July,2019 both the bills were sent to bank for collection. The first bill is met on maturity while the second bill is dishonoured. Collection charges charged by bank for the first bill amounting to ₹ 30 while the noting charges for the second bill paid by bank amounting to ₹ 50. Pass journal entries in the book of A and B.

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The solution of Question No 15 Chapter No 14 – UNIMAX Class 11

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

The solution of Question No 15 Chapter No 14 – UNIMAX Class 11

Journal for Mr. ‘A’ (Drawer)
Date	Particulars		L.F.	Debit	Credit
2019
June 13	Bill receivable A/c (1)	Dr.		6,000
	To B’s A/c				6,000
	(Being the first bill two months drawn and accepted)

June 13	Bill receivable A/c (2)	Dr.		4,000
	To B’s A/c				4,000
	(Being the demand bill for three months drawn and accepted)

July 1	Bill sent for collection A/c	Dr.		10,000
	To Bill receivable A/c (1)				6,000
	To Bill receivable A/c (2)				4,000
	(Being both the bill sent to bank for collection)

Aug.16	Bank A/c			6,000
	To Bill sent for collection A/c				6,000
	(Being the first bill collected by bank on due date)

Aug.16	Bank charges A/c			30
	To Bank A/c				30
	(Being bank charges for collection of bill recoded)

Sep.16	B’s A/c			4,050
	To Bill sent for collection A/c				4,000
	To Bank A/c				50
	(Being the second bill dishonoured on due date and bank paid ₹ 50 as noting charges)

Journal for Mr. ‘B’ (Drawee)
Date	Particulars		L.F.	Debit	Credit
2019
June 13	A’s A/c	Dr.		6,000
	To Bill payable A/c (1)				6,000
	(Being the first bill 2 months acceptance and returned)

June 13	A’s A/c	Dr.		4,000
	To Bill payable A/c (2)				4,000
	(Being the for 3 months acceptance and returned)

Aug.16	Bill payable A/c			6,000
	To Cash A/c				6,000
	(Being the first bill met at maturity)

Sep.16	Bill payable A/c	Dr.		4,000
	Noting charges A/c	Dr.		50
	To A’s A/c				4,050
	(Being the second bill dishonoured on due date and ₹ 50 as noting charges paid)

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

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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

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