Question No 28 Chapter No 15 – USHA Publication 11 Class

Question No 28 Chapter No 15

Question No 28 Chapter No 15

Dishonour of Bill

28. On 1st January 2018 Dev Raj sold good to Sita ram to the value of Rs 1,500 taking a bill at 3 months for the amount. On maturity, the bill was dishonoured. Dev Raj paid Rs 10 as noting charges. On 15th April 2018 Sita Ram cleared his account by Paying Rs 1,510. make entries in the book of both the parties to record the transaction

The solution of Question No 28 Chapter No 15: –

In the books of Dev raj
Date   Particulars
L.F. Debit Credit
2018          
Jan.1 Sita Ram A/c Dr.   1,500  
  To Sale A/c       1,500
  (Being goods sold on credit )        
           
Jan.1 Bill Receivable A/c Dr.   1,500  
  To Sita Ram A/c       1,500
  (Being the receipt of an acceptance from Bhanu for 2 months)        
           
Apr.4 Sita Ram A/c Dr.   1,510  
  To Bill Receivable A/c       1,500
  To Noting Charges A/c       10
  (Being bill sent for collection)        
           
Apr.15 Cash A/c Dr.   1,510  
  To Sita Ram A/c       1,510
  (Being the amount received from Sita Ram in payment of due date )        
         

 

In the books of Sita Ram
Date   Particulars
L.F. Debit Credit
2018          
Jan.1 Purchases A/c Dr.   1,500  
  To Dev Ram A/c       1,500
  (Being goods purchased on credit.)        
           
Jan.1 Dev Ram  A/c Dr.   1,500  
  To  Bill Payable A/c       1,500
  (Being the bill acceptance for 2 months)        
           
Apr.4 Bill Payable A/c Dr.   1,500  
  Noting Charges A/c Dr.   10  
  To Asha A/c       1,510
  (Being the dishonour of the bill on the due date )        
           
Apr.15 Dev Raj A/c Dr.   1,510  
  To Cash A/c       1,510
  (Being payment of the amount due)        
         

 

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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