Question No 9 Chapter No 16 - T.S. Grewal 11 Class

Question No 9 Chapter No 16

9. A sold goods to B for 20,000 plus CGST and SGST @ 9% each on credit 3 months. B paid A 3,600 by cheque and accepted a draft for the balance amount. The draft was endorsed in favor of C, who got the payment on maturity. Give Journal entries in the books of A.

The solution of Question No 9 Chapter No 16: –

Books of A
Date	Particulars		L.F.	Debit	Credit

	B A/c	Dr.		23,600
	To Sales A/c				20,000
	To Output CGST A/c				1,800
	To Output CGST A/c				1,800
	(Being goods sold plus CGST and SGST @9)
	Bills Receivable A/c	Dr.		20,000
	Bank A/c	Dr.		3,600
	Bills Payable A/c				23,600
	(Being bill accepted by B and paid CGST and SGST by Cheque )
	C A/c	Dr.		20,000
	To Bills Receivable A/c				20,000
	(Being B′s acceptance endorsed in favour of C)

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