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

Question No 9 Chapter No 16

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

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T.S. Grewals Double Entry Book Keeping - Question No 9 Chapter No 16 - T.S. Grewal 11 Class

T.S. Grewal’s Double Entry Book Keeping

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