Question No 16 Chapter No 13 – D.K Goal 11 Class

Question No 16 Chapter No 13

Question No 16 Chapter No 13

Free Accounting book Solution - Class 11 and Class 12

Dishonour of bill discounted from the Bank

16. X draws upon y a bill of Rs 10,000 for three months on 1st July 2017. the bill was duly accepted and returned by y, on due date bill became dishonoured and noting charges paid under each of the following circumstances Rs 75. Pass entries in the following cases:

  1. If drawer retains the bill with him till due date
  2. If drawer discounts the same with his banker and noting charges paid by the banker
  3. If drawer endorsees the same to his creditor Z and noting charges paid by Z
  4. If drawer sends the bill for collection tohis Banker and noting Charges paid by the banker.

The solution of Question No 16 Chapter No 13: –

In the books of X(Drawer)
Date   Particulars
L.F. Debit Credit
2018          
Jul.01 Bills Receivable A/c Dr.   10,000  
  To Y A/c       10,000
  (Being Y accepted the bill)        
           
(i) Bills Receivable A/c Dr.   10,000  
  Noting Charges A/c Dr.   75  
  To Y A/c       10,075
  (Being Bill dishonoured)        
           
(ii) Bills Receivable A/c Dr.   10,000  
  Bank A/c Dr.   75  
  To Y A/c       10,075
  (Being Bill dishonoured)        
           
(iii) ZA/c Dr.   10,075  
  To Y A/c       10,075
  (Being Bill dishonoured)        
           
(iv) Interest A/c Dr.   10,075  
  To Bill for Collection A/c       10,000
  To Bank A/c       75
  (Being Bill dishonoured)        
         

Bills Payable Book | Subsidiary Books | Examples

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

D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution

Check out the Accountancy Class +1 by D.K. Goal (Arya Publication) from their official Site.

ISC Accounts 11 20 Image min 197x300 - Question No 16 Chapter No 13 - D.K Goal 11 Class
D K Goel accountancy +1 – ISC_Accounts_11_20_ImageQuestion No 42 Chapter No 11 – D.K Goal 11 Class

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