Question No 6 Chapter No 16 – T.S. Grewal 11 Class

Question No 6 Chapter No 16

Question No 6 Chapter No 16

6. Dinesh received from Shridhar and acceptance for 3,000 on 1st September 2016 at 3 months. Dinesh got the acceptance discounted at 9% p.a. from his bank. On the due date, Shridhar paid the required amount. Give the Journal entries in the books of Dinesh and Shridhar.

The solution of Question No 5 Chapter No 16: – 


Books of Shridhar
Date   Particulars
L.F. Debit Credit
2018          
Sep.01 Bills Receivable A/c Dr.   3,000  
  To Shridhar A/c       3,000
  (Being Shridhar accepted received )      
Sep.01 Bank A/c Dr.   2,932.50  
  Discount Charges A/c Dr.   67.50  
  To Bills Receivable A/c       3,000
  (Being bill received with Discount )      
         
 

 


Books of Dinesh
Date   Particulars
L.F. Debit Credit
2018          
Sep.01 Manish A/c Dr.   3,000  
  To Bills Payable A/c       3,000
  (Being Bill accepted )      
Sep.01 Bills Payable A/c Dr.   3,000  
  To Bank A/c       3,000
  (Being Cash paid against the bill )      
         

Bill of exchange (BOE): Meaning and Examples

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

  • Chapter No. 1 – Introduction to Accounting
  • Chapter No. 2 – Basic Accounting Terms
  • Chapter No. 3 – Theory Base of Accounting, Accounting Standards and International Financial Reporting Standards(IFRS)
  • Chapter No. 4 – Bases of Accounting
  • Chapter No. 5 – Accounting Equation
  • Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
  • Goods and Services Tax(GST)
  • Chapter No. 7 – Origin of Transactions – Source Documents and Preparation of Vouchers
  • Chapter No. 8 – Journal
  • Chapter No. 9 – Ledger
  • Chapter No. 10 – Special Purpose Books I – Cash Book
  • Chapter No. 11 – Special Purpose Books II – Other Books
  • Chapter No. 12 – Bank Reconciliation Statement
  • Chapter No. 13 – Trial Balance
  • Chapter No. 14 – Depreciation
  • Chapter No. 15 – Provisions and Reserves
  • Chapter No. 16 – Accounting for Bills of Exchange
  • Chapter No. 17 – Rectification of Errors
  • Chapter No. 18 – Financial Statements of Sole Proprietorship
  • Chapter No. 19 – Adjustments in preparation of Financial Statements
  • Chapter No. 20 – Accounts from incomplete Records – Single Entry System
  • Chapter No. 21 – Computers in Accounting
  • Chapter No. 22 – Accounting Software – Tally
  • Chapter No. 5 – Accounting Equation
  • Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
  • Goods and Services Tax(GST)
  • Chapter No. 8 – Journal
  • Chapter No. 9 – Ledger
  • Chapter No. 10 – Special Purpose Books I – Cash Book

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T.S. Grewals Double Entry Book Keeping - Question No 6 Chapter No 16 - T.S. Grewal 11 Class

T.S. Grewal’s Double Entry Book Keeping

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