Question No 36 Chapter No 13

Question No 36 Chapter No 13

Additional Question

Q. 36. Journalise the following transactions in our books:
(a)Our acceptance to Karan for 4,500 renewed for 3 months on the condi­tion that 2,500 is paid in cash immediately and a new bill to be drawn including interest @ 12% p.a.
(b)A bill payable accepted in favour of Hari for 4,000 returned unpaid due to lack of instructions to the bank. Hari claims 4,050 (50 as noting charges), which is paid by cheque.

The solution of Question No 36 Chapter No 13: –

In the books of Hari
Date  Particulars
(a)Bill Payable A/cDr. 4,500 
 To Karan A/c   4,500
 (Being Bill cancelled)    
 Interest A/cDr. 60 
 To Karan A/c   60
 (Being interest payable for 3 months)    
 Karan A/cDr. 4,560 
 To Cash A/c   2,500
 To Bill Payable A/c   2,060
 (Being cash and new acceptance given)    
(b)Bill Payable A/cDr. 4,000 
 Noting Charges A/cDr. 50 
 To Hari A/c   4,050
 (Being bill payable dishonoured)    
 Hari A/cDr. 4,050 
 To Bank A/c   4,050
 (Being hari’s account settled)    

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 36 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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