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

Question No 30 Chapter No 13

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The solution of Question No 30 Chapter No 13: –

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

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

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

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

Chapter 1 Evolution of Accounting & Basic Accounting Terms
Chapter 2 Accounting Equations
Chapter 3 Meaning and Objectives of Accounting
Chapter 4 Double Entry System
Chapter 5 Books of Original Entry – Journal
Chapter 6 Accounting for Goods and Service Tax (GST) (Coming soon)
Chapter 7 Books of Original Entry – Cash Book (Coming soon)
Chapter 8 Books of Original Entry – Special Purpose Subsidiary Books (Coming soon)
Chapter 9 Ledger (Coming soon)
Chapter 10 Trial Balance and Errors (Coming soon)
Chapter 11 Bank Reconciliation Statement (Coming soon)
Chapter 12 Depreciation (Coming soon)
Chapter 13 Bills of Exchange (Coming soon)
Chapter 14 Generally Accepted Accounting Principles(GAAP)
Chapter 15 Bases of Accounting
Chapter 16 Accounting Standards and International Financial Reporting Standard(IFRS) (Coming soon)
Chapter 17 Capital and Revenue
Chapter 18 Provisions and Reserves
Chapter 19 Final Accounts (Coming soon)
Chapter 20 Final Accounts – With Adjustments (Coming soon)
Chapter 21 Errors and their Rectification (Coming soon)
Chapter 22 Accounts from Incomplete Records – Single Entry System (Coming soon)
Chapter 23 Accounts of Not-for-Profit Organisations (Coming soon)
Chapter 24 Computerised Accounting System (Coming soon)
Chapter 25 Introduction to Accounting Information System (Coming soon)

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

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

The solution of Question No 30 Chapter No 13: –

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

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