Question No 32 Chapter No 13 – D.K Goal 11 Class

Question No 32 Chapter No 13

Question No 32 Chapter No 13

Free Accounting book Solution - Class 11 and Class 12

Additional Question

32. Pass the necessary journal entries in the following cases:
If, before the due date of the bill for Rs 10,000

  1. X the acceptor approached and pays Rs 4,000 in cash and asks us to drew on him another bill for 2 months for the balance including interest @12% p.a. and we agree to it.
  2. X pays us Rs 250 for interest in cash and we draw another bill on him for 2 months
  3. X pays us Rs 3,200 in cash (including interest) and we draw another bill on him for Rs 7,000
  4. X endorses to us Z’s acceptance for a similar account.

The solution of Question No 32 Chapter No 13: –

In the books of ………
Date   Particulars
L.F. Debit Credit
2018          
(a) X A/c Dr.   6,000  
  Bank A/c Dr.   4,000  
  To Bill Receivable A/c       10,000
  (Being bill dishonored and cash paid by X )        
           
  X A/c Dr.   120  
  To Interest A/c       120
  (Being Interest charged on X )        
           
  Bill Receivable A/c Dr.   6,120  
  To X A/c       6,120
  (Being new bill drawn on X )        
           
(b) X A/c Dr.   10,000  
  To Bill Receivable A/c       10,000
  (Being bill dishonored and cash paid by X )        
           
  Cash A/c Dr.   250  
  To Interest A/c       250
  (Being Interest received in cash )        
           
  Bill Receivable A/c Dr.   10,000  
  To X A/c       10,000
  (Being new bill drawn on X )        
           
(c) X A/c Dr.   7,000  
  Cash A/c Dr.   3,200  
  To Bill Receivable A/c       10,000
  To Interest A/c       200
  (Being bill dishonoured and interest paid in cash)        
           
  Bill Receivable A/c Dr.   7,000  
  To X A/c       7,000
  (Being new bill drawn on X )        
           
(d) Z A/c Dr.   10,000  
  To Bill Receivable A/c       10,000
  (Being bill endorsed to Z)        
         

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 32 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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