Question No 34 Chapter No 13 – D.K Goal 11 Class

Question No 34 Chapter No 13

Additional Question

34. Harpal sold goods to Sompal for 12,000. Sompal accepted three bills of exchange, the first for 5,000 at one month, the second for 4,000 at two months, and the third for 3,000 at three months. Harpal endorsed the first bill to Rajpal. The first bill was dishonored. Rajpal paid 30 as noting charges. Harpal charged 200 for interest and drew on Sompal the fourth bill for 5,230. This Second bill was also dishonored, noting charges paid being 25. Harpal charged 150 as interest and accepted 2,175 in cash and drew the fifth bill for 2,000. The bill was paid on the due date. The third and fourth bills were also met.
Pass Journal entries in the books of Harpal and prepare Sompal’s Account in
Harpal’s Ledger.

The solution of Question No 34 Chapter No 13: –

In the books of Hari
Date	Particulars		L.F.	Debit	Credit
2018
	Bill Receivable A/c(i)	Dr.		5,000
	Bill Receivable A/c(ii)	Dr.		4,000
	Bill Receivable A/c(iii)	Dr.		3,000
	To Gopal A/c				12,000
	(Being three bills drawn on Gopal)
	Rajpal A/c	Dr.		5,000
	To Bill Receivable A/c(i)				5,000
	(Being bill endorsed to Satish)
	Sompal A/c	Dr.		5,000
	To Bill Receivable A/c(i)				5,000
	(Being bill dishonoured plus noting charges)
	Bill Receivable A/c(iv)	Dr.		5,230
	To Sompal A/c				5,000
	To Interest A/c				230
	(Being new bill drawn on Sompal)
	Sompal A/c	Dr.		4,000
	To Bill Receivable A/c(ii)				4,000
	(Being bill dishonoured)
	Cash A/c	Dr.		2,175
	Bill Receivable A/c(v)	Dr.		2,000
	To Sompal A/c				4,000
	To Interest A/c				150
	To Cash A/c				25
	(Being bill drawn on Sompal and paid cash)
	Cash A/c	Dr.		3,000
	To Bill Receivable A/c				3,000
	(Being cash received )
	Cash A/c	Dr.		5,230
	To Bill Receivable A/c(iv)				5,230
	(Being cash received )
	Cash A/c	Dr.		2,000
	To Bill Receivable A/c(v)				2,000
	(Being cash received )

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

D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution

• 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)

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