Question No 27 Chapter No 15

Question No 27 Chapter No 15

Dishonour of Bill

27. On January 1,2019 Asha sold goods to Bhanu for Rs 8,000 and drew a bill on Bhanu for 2 months. Bhanu acceptance the bill. On the March 1,2019, Asha deposited to her banker Allahabad Bank collection. But on the due date, the bill was dishonoured and nothing charges paid were Rs 300. Record these transaction in the book of Asha and Bhanu.

The solution of Question No 27 Chapter No 15: –

In the books of Asha
Date  Particulars
L.F.DebitCredit
2018     
Jan.1Bhanu A/cDr. 8,000 
 To Sale A/c   8,000
 (Being goods sold on credit )    
      
Jan.1Bill Receivable A/cDr. 8,000 
 To Bhanu A/c   8,000
 (Being the receipt of an acceptance from Bhanu for 2 months)    
      
Mar.1Bill for collection A/cDr. 8,000 
 To Bill Receivable A/c   8,000
 (Being bill sent for collection)    
      
Mar.4Bhanu A/cDr. 8,000 
 To Bill Receivable A/c   8,000
 (Being the dishonoured of the bill on the due date)    
     

 

In the books of Bhanu
Date  Particulars
L.F.DebitCredit
2018     
Jan.1Purchases A/cDr. 8,000 
 To Asha A/c   8,000
 (Being goods purchased on credit.)    
      
Jan.1Bill Payable A/cDr. 8,000 
 To Asha A/c   8,000
 (Being the bill acceptance for 2 months)    
      
Mar.4Bill Payable A/cDr. 8,000 
 To Asha A/c   8,000
 (Being the dishonor of the bill on the due date )    
     

 

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: –

 

Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting 

Chapter No. 3 – Origin of Transactions

Chapter No. 4 – Vouchers and transactions

Chapter No. 5 – Journal

Chapter No. 6 – Accounting for Goods and Services Tax(GST)

Chapter No. 7 – Ledger

Chapter No. 8 – Cash Book

Chapter No. 9 – Other Subsidiary Books

Chapter No. 10 – Journal Proper

Chapter No. 11 – Trial Balance

Chapter No. 12 – Bank Reconciliation Statement

Chapter No. 13 – Depreciation

Chapter No. 14 – Provisions and Reserves 

Chapter No. 15 – Bills of Exchange

Chapter No. 16 – Rectification of Errors 

Chapter No. 17 – Financial Statements – (Without Adjustments)

Chapter No. 18 – Financial Statements – (With Adjustments)

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