Question No 21 Chapter No 15 – USHA Publication 11 Class

Question No 21 Chapter No 15

Question No 21 Chapter No 15

Alternatives available with Drawer

21. Ravinder Kaur sold goods to Harjinder Kaur for Rs 20,000 plus 12% IGST on 1st January 2019. on the same date, Ravinder Kaur drew a BILL ON Harjinder Kaur for 2 months which was duly accepted by Harjinder Kaur. Ravinder Kaur endorsed the bill in favor of Baljinder Kaur on 10TH January 2019. on the due date, Harjinder Kaur met her acceptance. Record the above transition in the book of Ravinder Kaur and Harjinder

The solution of Question No 21 Chapter No 15: –

In the books of Ravinder Kaur (Drawer)
Date   Particulars
L.F. Debit Credit
2018          
Jan.1 Harjinder Kaur A/c Dr.   22,400  
  To Sales A/c       20,000
  To Output IGST A/c       2,400
  (Being goods sold on credit)        
           
Jan.1 Bill Receivable A/c Dr.   22,400  
  To Harjinder Kaur A/c       22,400
  (Being Acceptance received)        
           
Jan.10 Baljinder Kaur A/c Dr.   22,400  
  To Bill Receivable A/c       22,400
  (Being bill endorsed to Baljinder Kaur )        
         

 

In the books of Harjinder Kaur (Drawee)
Date   Particulars
L.F. Debit Credit
2018          
Jan.1 Purchases A/c Dr.   20,000  
  Input IGST A/c Dr.   2,400  
  To Ravinder Kaur A/c       22,400
  (Being goods purchased on credit .)        
           
Jan.1 Ravinder Kaur A/c Dr.   22,400  
  To Bill Payable A/c       22,400
  (Being acceptance given for three months)        
           
Mar.4 Bill Payable A/c Dr.   22,400  
  To Cash A/c       22,400
  (Being bill met on Maturity)        
         

 

Bills Receivable Book | Subsidiary Books | Examples

 

Bills Payable Book | Subsidiary Books | Examples

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

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting 

Chapter No. 3 – Vouchers and transactions

Chapter No. 4 – Journal

Chapter No. 5 – Ledger

Chapter No. 6 – Cash Book

Chapter No. 7 – Other Subsidiary Books

Chapter No. 8 – Journal Proper

Chapter No. 9 – Trial Balance 

Chapter No. 10 – Bank Reconciliation Statement

Chapter No. 11 – Depreciation

Chapter No. 12 – Provisions and Reserves 

Chapter No. 13 – Bills of Exchange

Chapter No. 14 – Rectification of Errors 

Chapter No. 15 – Financial Statements – (Without Adjustments)

Chapter No. 16 – Financial Statements – (With Adjustments)

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