Question No 30 Chapter No 13 – D.K Goal 11 Class

Question No 30 Chapter No 13

Question No 30 Chapter No 13

Free Accounting book Solution - Class 11 and Class 12

Insolvency of the Acceptor

30. Manohar few a bill of exchange on Pushkar, his debtors, for Rs 20,000 on 1st march 2017 for 3 months Pushkar acceptance the same and returned it to the drawer. Manohar endorsed the bill to Yadu on 1st April 2017 for a debit of an equal amount. Yadu discounted it with the bank at 15% p.a. on 1st May 2017. on the due date the bill was dishonoured(noting charges amounting to Rs 100)
Show the journal entries in the books of:(a) Drawer (b) Drawee/Account and (C) Endorsee.

The solution of Question No 30 Chapter No 13: –

In the books of Manohar
Date   Particulars
L.F. Debit Credit
2018          
Mar.1 Bill Receivable A/c Dr.   20,000  
  To Pushkar A/c       20,000
  (Being bill drawn on Pushkar )        
           
Apr.1 Yadu A/c Dr.   20,000  
  To Bill receivable A/c       20,000
  (Being two bill drawn on Y)        
           
Jun.4 Pushkar A/c Dr.   20,000  
  To Bill Receivable A/c       20,000
  (Being bill dishonored)        
         
In the books of Pushkar
Date   Particulars
L.F. Debit Credit
2018          
Mar.1 Manohar A/c Dr.   20,000  
  To Bill Payable A/c       20,000
  (Being two bill drawn by Manohar )        
           
Jun.4 Bill Payable A/c Dr.   20,000  
  To Manohar A/c       20,000
  (Being bill dishonored)        
         
In the books of Yadu
Date   Particulars
L.F. Debit Credit
2018          
Apr.1 Bill receivable A/c Dr.   20,000  
  To Manohar A/c       20,000
  (Being bill receivable received from Manohar)        
           
Jun.4 Manohar A/c Dr.   20,000  
  To Bill receivable A/c       20,000
  (Being bill dishonored)        
         

Bills Payable Book | Subsidiary Books | Examples

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

D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution

Check out the Accountancy Class +1 by D.K. Goal (Arya Publication) from their official Site.

ISC Accounts 11 20 Image min 197x300 - Question No 30 Chapter No 13 - D.K Goal 11 Class
D K Goel accountancy +1 – ISC_Accounts_11_20_ImageQuestion No 42 Chapter No 11 – D.K Goal 11 Class

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