Question No 16 Chapter No 14 – Class 11 Unimax

16. Dinesh draws a bill on Barun for ₹ 8,000. The bill is accepted by Barun. Show what entries would be passed in the book of Dinesh under each of the following circumstances:
1. If he retains the bill till due date and then realizes it.
2. If he discounts the same with his bankers for ₹ 7,940.
3. If he endorsee the same to his creditor Raghaban.
4. If he sends the same to his banker for collection.
You assume:
a. That the bill is met on the due date.
b. That the bill is dishonoured on due date no noting charges being incurred.

Table of Contents

The solution of Question No 16 Chapter No 14 – UNIMAX Class 11

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

The solution of Question No 16 Chapter No 14 – UNIMAX Class 11

Journal for Mr. ‘Dinesh’ (Drawer)
Date	Particulars		L.F.	Debit	Credit

	Bill receivable A/c	Dr.		8,000
	To B’s A/c				8,000
	(Being a bill drawn and accepted)

Case1. A	Cash A/c	Dr.		8,000
	To Bill receivable A/c				8,000
	(Being the bill met on due date)

Case.1. B	Barun’s A/c	Dr.		8,000
	To Bill receivable A/c				8,000
	(Being the bill dishonoured on due date)

	Bill receivable A/c	Dr.		8,000
	To Barun’s A/c				8,000
	(Being a bill drawn and accepted)

Case.2	Bank A/c	Dr.		7,940
	Discount A/c	Dr.		60
	To Bills receivable A/c				8,000
	(Being the bill dishonoured from bank)

Case.2. A	No entry

Case.2. B	Barun A/c	Dr.		8,000
	To Bank A/c				8,000
	(Being the bill dishonoured on due date)

Case. 3	Bills receivable A/c	Dr.		8,000
	To Barun A/c				8,000
	(Being the bill drawn and accepted)

Case.3	Raghavan A/c	Dr.		8,000
	To Bill receivable A/c				8,000
	(Being bill endorsed to creditor Raghavan)

Case.3. A	No entry

Case.3. B	Barun A/c	Dr.		8,000
	To Raghavan A/c				8,000
	(Being the bill dishonoured and returned by creditor)

Case.4	Bill sent for collection A/c	Dr.		8,000
	To Barun A/c				8,000
	(Being the bill sent to bank for collection)

Case.4. A	Bank A/c	Dr.		8,000
	To Bill sent for collection A/c				8,000
	(Being the bill collection by bank)

Case.4. B	Barun A/c	Dr.		8,000
	To bill sent for collection A/c				8,000
	(Being the bill dishonoured on due date)

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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