Question No 34 Chapter No 13

Question No 34 Chapter No 13

Additional Question

34. Harpal sold goods to Sompal for 12,000. Sompal accepted three bills of exchange, the first for 5,000 at one month, the second for 4,000 at two months, and the third for 3,000 at three months. Harpal endorsed the first bill to Rajpal. The first bill was dishonored. Rajpal paid 30 as noting charges. Harpal charged 200 for interest and drew on Sompal the fourth bill for 5,230. This Second bill was also dishonored, noting charges paid being 25. Harpal charged 150 as interest and accepted 2,175 in cash and drew the fifth bill for 2,000. The bill was paid on the due date. The third and fourth bills were also met.
Pass Journal entries in the books of Harpal and prepare Sompal’s Account in
Harpal’s Ledger.

The solution of Question No 34 Chapter No 13: –

In the books of Hari
Date  Particulars
L.F.DebitCredit
2018     
 Bill Receivable A/c(i)Dr. 5,000 
 Bill Receivable A/c(ii)Dr. 4,000 
 Bill Receivable A/c(iii)Dr. 3,000 
 To Gopal A/c   12,000
 (Being three bills drawn on Gopal)    
      
 Rajpal A/cDr. 5,000 
 To Bill Receivable A/c(i)   5,000
 (Being bill endorsed to Satish)    
      
 Sompal A/cDr. 5,000 
 To Bill Receivable A/c(i)   5,000
 (Being bill dishonoured plus noting charges)    
      
 Bill Receivable A/c(iv)Dr. 5,230 
 To Sompal A/c   5,000
 To Interest A/c   230
 (Being new bill drawn on Sompal)    
      
 Sompal A/cDr. 4,000 
 To Bill Receivable A/c(ii)   4,000
 (Being bill dishonoured)    
      
 Cash A/cDr. 2,175 
 Bill Receivable A/c(v)Dr. 2,000 
 To Sompal A/c   4,000
 To Interest A/c   150
 To Cash A/c   25
 (Being bill drawn on Sompal and paid cash)    
      
 Cash A/cDr. 3,000 
 To Bill Receivable A/c   3,000
 (Being cash received )    
      
 Cash A/cDr. 5,230 
 To Bill Receivable A/c(iv)   5,230
 (Being cash received )    
      
 Cash A/cDr. 2,000 
 To Bill Receivable A/c(v)   2,000
 (Being cash received )    
     

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

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ISC Accounts 11 20 Image min 197x300 - Question No 34 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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