Question No 25 Chapter No 15 – USHA Publication 11 Class

Question No 25 Chapter No 15

Question No 25 Chapter No 15

Dishonour of Bill

25. Hema owes Rs 18,000 to Lata on 1st January 2018 for which Hema accepts a 3 months bill drawn by Lata. O the due date, the bill is dishonoured by Hema
Pass the necessary journal entries in the book of both the parties in the following cases:
(a)The bill is retained by Lata till due date
(b)The bill is dishonoured from bank for Rs 17,200
(c)The bill is endorsed to Pushpa
(d)The bill is sent to Yes Bank for collection

The solution of Question No 25 Chapter No 15: –

In the books of Lata
Date   Particulars
L.F. Debit Credit
2018          
Jan.1 Bill Receivable A/c Dr.   18,000  
  To Hema A/c       18,000
  (Being bill drawn for 3 months)        
           
(a) Hema A/c Dr.   18,000  
  To Bill Receivable A/c       18,000
  (Being retained bill dishonoured )        
           
(b) Bank A/c Dr.   17,200  
  Discount A/c Dr.   800  
  To Bill Receivable A/c       18,000
  (Being bill discounted from the bank)        
           
  Hema A/c Dr.   18,000  
  To Bill Receivable A/c       18,000
  (Being discounted bill dishonoured )        
           
(c) Pushpa A/c Dr.   18,000  
  To Bill Receivable A/c       18,000
  (Being bill endorsed)        
           
  Hema A/c Dr.   18,000  
  To Bill Receivable A/c       18,000
  (Being endorsed bill dishonoured )        
           
(d) Bank for collection A/c Dr.   18,000  
  To Bill Receivable A/c       18,000
  (Being bill discounted from the bank)        
           
  Hema A/c Dr.   18,000  
  To Bill Receivable A/c       18,000
  (Being discounted bill dishonoured )        
         

 

In the books of Hema
Date   Particulars
L.F. Debit Credit
2018          
Jan.1 Lata A/c Dr.   18,000  
  To Bill Payable A/c       18,000
  (Being bill payable for 3 months.)        
           
(a) Bill Payable A/c Dr.   18,000  
  To Lata A/c       18,000
  (Being retained bill dishonoured)        
           
(b) Bill Payable A/c Dr.   18,000  
  To Lata A/c       18,000
  (Being discounted bill dishonoured)        
           
(c) Bill Payable A/c Dr.   18,000  
  To Lata A/c       18,000
  (Being endorsed bill dishonoured)        
           
(d) Bill Payable A/c Dr.   18,000  
  To Lata A/c       18,000
  (Being bill sent to the bank for collection dishonoured)        
         

 

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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