Question No 32 Chapter No 13 - D.K Goal 11 Class

Question No 32 Chapter No 13

Additional Question

32. Pass the necessary journal entries in the following cases:
If, before the due date of the bill for Rs 10,000

X the acceptor approached and pays Rs 4,000 in cash and asks us to drew on him another bill for 2 months for the balance including interest @12% p.a. and we agree to it.
X pays us Rs 250 for interest in cash and we draw another bill on him for 2 months
X pays us Rs 3,200 in cash (including interest) and we draw another bill on him for Rs 7,000
X endorses to us Z’s acceptance for a similar account.

The solution of Question No 32 Chapter No 13: –

In the books of ………
Date	Particulars		L.F.	Debit	Credit
2018
(a)	X A/c	Dr.		6,000
	Bank A/c	Dr.		4,000
	To Bill Receivable A/c				10,000
	(Being bill dishonored and cash paid by X )

	X A/c	Dr.		120
	To Interest A/c				120
	(Being Interest charged on X )

	Bill Receivable A/c	Dr.		6,120
	To X A/c				6,120
	(Being new bill drawn on X )

(b)	X A/c	Dr.		10,000
	To Bill Receivable A/c				10,000
	(Being bill dishonored and cash paid by X )

	Cash A/c	Dr.		250
	To Interest A/c				250
	(Being Interest received in cash )

	Bill Receivable A/c	Dr.		10,000
	To X A/c				10,000
	(Being new bill drawn on X )

(c)	X A/c	Dr.		7,000
	Cash A/c	Dr.		3,200
	To Bill Receivable A/c				10,000
	To Interest A/c				200
	(Being bill dishonoured and interest paid in cash)

	Bill Receivable A/c	Dr.		7,000
	To X A/c				7,000
	(Being new bill drawn on X )

(d)	Z A/c	Dr.		10,000
	To Bill Receivable A/c				10,000
	(Being bill endorsed to Z)

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

Chapter 1 Evolution of Accounting & Basic Accounting Terms
Chapter 2 Accounting Equations
Chapter 3 Meaning and Objectives of Accounting
Chapter 4 Double Entry System
Chapter 5 Books of Original Entry – Journal
Chapter 6 Accounting for Goods and Service Tax (GST) (Coming soon)
Chapter 7 Books of Original Entry – Cash Book (Coming soon)
Chapter 8 Books of Original Entry – Special Purpose Subsidiary Books (Coming soon)
Chapter 9 Ledger (Coming soon)
Chapter 10 Trial Balance and Errors (Coming soon)
Chapter 11 Bank Reconciliation Statement (Coming soon)
Chapter 12 Depreciation (Coming soon)
Chapter 13 Bills of Exchange (Coming soon)
Chapter 14 Generally Accepted Accounting Principles(GAAP)
Chapter 15 Bases of Accounting
Chapter 16 Accounting Standards and International Financial Reporting Standard(IFRS) (Coming soon)
Chapter 17 Capital and Revenue
Chapter 18 Provisions and Reserves
Chapter 19 Final Accounts (Coming soon)
Chapter 20 Final Accounts – With Adjustments (Coming soon)
Chapter 21 Errors and their Rectification (Coming soon)
Chapter 22 Accounts from Incomplete Records – Single Entry System (Coming soon)
Chapter 23 Accounts of Not-for-Profit Organisations (Coming soon)
Chapter 24 Computerised Accounting System (Coming soon)
Chapter 25 Introduction to Accounting Information System (Coming soon)

Check out the Accountancy Class +1 by D.K. Goal (Arya Publication) from their official Site.