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Question 14 Chapter 14 – Class 11 Unimax
14. A sold goods to P on credit for ₹ 15,000 on 1st Sept.2019. P pays ₹ 5,000 immediately in cash and a three months acceptance for the balance. A endorses the bill in favour of R. On due date, the bill is not met and R pays ₹ 100 as noting charges.
Pass journal entries in books of A, P & R.
The solution of Question 14 Chapter 14 – Class 11 Unimax
| Journal for Mr. ‘A’ (Drawer) | |||||
| Date | Particulars | L.F. | Debit | Credit | |
| 2019 | |||||
| Sep.1 | P’s A/c | Dr. | 15,000 | ||
| To Sales A/c | 15,000 | ||||
| (Being goods sold on credit) | |||||
| Sep.1 | Cash A/c | Dr. | 5,000 | ||
| To P’s A/c | 5,000 | ||||
| (Being cash received from ‘P’) | |||||
| Sep.1 | Bill receivable A/c | Dr. | 10,000 | ||
| To P’s A/c | 10,000 | ||||
| (Being the bill for 3 months drawn and accepted) | |||||
| Sep.1 | R’s A/c | 10,000 | |||
| To Bill receivable A/c | 10,000 | ||||
| (Being the bill endorsed to creditor Mr. ‘R’) | |||||
| Dec. 1 | P’s A/c | Dr. | 10,100 | ||
| To R’s A/c | 10,100 | ||||
| (Being the bill dishonoured and noting charges paid by Mr.’ R’) | |||||
| Journal for Mr. ‘P’ (Drawee) | |||||
| Date | Particulars | L.F. | Debit | Credit | |
| 2019 | |||||
| Sept. 1 | Purchases A/c | Dr. | 15,000 | ||
| To A’s A/c | 15,000 | ||||
| (Being the goods purchased on credit) | |||||
| Sept. 1 | A’s A/c | Dr. | 5,000 | ||
| To Cash A/c | 5,000 | ||||
| (Being cash paid to Mr. ‘A’) | |||||
| Sept. 1 | A’s A/c | 10,000 | |||
| To Bill payable A/c | 10,000 | ||||
| (Being the bill for 3 months accepted and returned) | |||||
| Dec. 1 | Bill payable A/c | Dr. | 10,000 | ||
| Noting charges A/c | Dr. | 100 | |||
| To A’s A/c | 10,100 | ||||
| (Being the bill dishonoured on due date and ₹ 100 as noting charges paid) | |||||
| Journal for Mr. ‘T’ (Endorsee) | |||||
| Date | Particulars | L.F. | Debit | Credit | |
| 2019 | |||||
| Sept. 1 | Bill receivable A/c | Dr. | 10,000 | ||
| To A’s A/c | 10,000 | ||||
| (Being a bill received from Mr. ‘A’) | |||||
| Dec. 1 | A’s A/c | Dr. | 10,100 | ||
| To Bill receivable A/c | 10,000 | ||||
| To Cash A/c | 100 | ||||
| (Being the bill dishonoured and ₹ 100 paid as noting charges) | |||||
End of Solution
Check Out the Solution of all questions for this chapter:
The solutions to all questions of Chapter 14 – Bills of Exchange Unimax – Class 11 are shown as follows, click on the image of the question to get the solution.
Question 6 Chapter 14 – Class 11 Unimax
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Question 18 Chapter 14 – Class 11 Unimax
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Question 30 Chapter 14 – Class 11 Unimax
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1. Comprehensive Solutions for All Chapters of Advanced Accountancy I Class 11 by Unimax
UnimaxSolutions.in offers a comprehensive solution for students studying Advanced Accountancy I Part 1 in Class 11. With their meticulously curated study material, students can access comprehensive solutions to all the questions included within each chapter. By selecting the chapter name from the study material, students can easily navigate through the topics and find detailed explanations and step-by-step solutions to the problems presented in that section. Whether it’s understanding complex accounting concepts, mastering calculation techniques, or analyzing financial statements, Unimax provides a valuable resource to aid students in their learning journey. With these comprehensive solutions at their disposal, students can enhance their understanding, clarify doubts, and improve their problem-solving skills in Advanced Accountancy, ensuring they are well-prepared for their Class 11 examinations.
- Chapter No. 1 – Introduction of Accounting
- Chapter No. 2 – Theory Base of Accounting
- Chapter No. 3 – Vouchers and Transactions
- Chapter No. 4 – Journal
- Chapter No. 5 – Goods and Services Tax (GST): An Introduction
- Chapter No. 6 – Ledger
- Chapter No. 7 – Special Purpose Book – Cash Book
- Chapter No. 8 – Other Subsidiary Books
- Chapter No. 9 – Trial Balance
- Chapter No. 10 – Rectification of Errors
- Chapter No. 11 – Depreciation
- Chapter No. 12 – Provision and Reserves
- Chapter No. 13 – Bank Reconciliation Statement
- Chapter No. 14 – Bills of Exchange
- Chapter No. 15 – Financial Statements (Without Adjustments)
- Chapter No. 16 – Financial Statements (With Adjustments)
- Chapter No. 17 – Accounts from Incomplete Records – Single Entry System
2. Punjab School Education Board (PSEB) Solutions of Usha Publication.
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