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Question No 25 Chapter No 14 – Class 11 Unimax

Question No 25 Chapter No 14 – Class 11 Unimax
Question No 25 Chapter No 14 – Class 11 Unimax

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Question No 25 Chapter No 14 – Class 11 Unimax

25. A who is in need of funds, persuades B to help him by accepting an accommodation bill for ₹ 20,000 for three months. B accepted the bill on March 15,2020. On the same day A got the bill dishonoured with his bankers @ 12% p.a. On due date, A remitted the amount of the bill to B who honoured the bill.

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The solution of Question No 25 Chapter No 14 – UNIMAX Class 11

Journal for Mr. ‘A’ (Drawer)
DateParticulars
L.F.DebitCredit
2020     
Mar. 15Bill receivable A/cDr. 20,000 
 To B’s A/c   20,000
 (Being acceptance of bill received from B for mutual accommodation)   
      
Mar. 15Bank A/cDr. 19,400 
 Discount A/cDr. 600 
 To Bill receivable A/c   20,000
 (Being the bill discounted with bank @ 12% p.a.)   
     
June 18B’s A/cDr. 20,000 
 To Cash A/c  20,000
 (Being amount of bill remitted to B)   

 

Journal for Mr. ‘B’ (Drawee)
DateParticulars
L.F.DebitCredit
2020     
Mar. 15A’s A/cDr. 20,000 
 To Bills payable A/c   20,000
 (Being acceptance of bill given to A)   
      
June 18Cash A/cDr. 20,000 
 To A’s A/c   20,000
 (Being amount of bill received from A)   
      
June 18Bills payable A/cDr. 20,000 
 To Cash A/c   20,000
 (Being payment of bill made on due date)   

 

Read out the full article to know the meaning of Cash Book

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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

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 

Check out T.S. Grewal +1 Book 2019 @ Oficial Website of Sultan Chand Publication

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