Question No 39 Chapter No 13 – D.K Goal 11 Class

Question No 39 Chapter No 13

Question No 39 Chapter No 13

Free Accounting book Solution - Class 11 and Class 12

Additional Question

39. Anil sold goods to Mukul for 20,000, taking a bill of exchange at three months, dated 1st August, 2016. On 4th October, 2016, Anil got the bill discounted at 6% p.a. with his bankers. At maturity the bill was returned by the bankers dishonoured with 50 as noting charges. Mukul paid 10,000 and express immediately and accepted another bill at three months for the balance amount and interest at 6% p.a. But before maturity Mukul became insolvent and ultimately paid 60 paise in a rupee
Pass journal entries in the books of Anil

The solution of Question No 39 Chapter No 13: –

In the books of A
Date   Particulars
L.F. Debit Credit
2017          
Aug.1 Bill Receivable A/c Dr.   20,000  
  To Mukul A/c       20,000
  (Being bill drawn for 3 months)        
           
Oct.4 Bank A/c Dr.   19,900  
  Discount A/c Dr.   100  
  To Bill Receivable A/c       20,000
  (Being bill dishonored and bank charged Noting charges )        
           
Oct.4 Mukul A/c Dr.   20,050  
  To Bill Payable A/c       20,000
  To Noting Charges A/c       50
  (Being bill dishonoured and bank charged Noting charges )        
           
Oct.4 Cash A/c Dr.   10,050  
  To Mukul A/c       10,000
  To Noting Charges A/c       50
  (Being bill drawn for 3 months)        
           
Oct.4 Mukul A/c Dr.   150  
  To Interest A/c       150
  (Being bill drawn for 3 months)        
           
Oct.4 Bill Receivable A/c Dr.   10,150  
  To Y A/c       10,000
  To Interest A/c       150
  (Being bill drawn for 3 months)        
           
Dec.7 Cash A/c Dr.   6,090  
  Bad debts A/c Dr.   4,060  
  To Bill Receivable A/c       10,150
  (Being 40% cash received from Y and 60% is bad debts )        
         

Bills Payable Book | Subsidiary Books | Examples

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

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ISC Accounts 11 20 Image min 197x300 - Question No 39 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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