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Ascertainment Of Bill Receivable And Bil...

Ascertainment Of Bill Receivable And Bills Payable

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Knowledge Check

  • Bills Receivable Account is

    A
    an Asset Account
    B
    an Expense Account
    C
    a Liability Accounts
    D
    an Income Account .
  • The Bills Receivable Book is part of

    A
    the Journal
    B
    the Ledger
    C
    the profit
    D
    Balance sheet.
  • Bills Payable Account is

    A
    an Asset Account
    B
    an Expense Account
    C
    a Liability Accounts
    D
    an Income Account .
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    Bille salt

    From the following particulars, ascertain the closing balance of Bills Receivable Account and opening balance of Bills Payable Account: {:("Particulars","Rs."),("Opening Balance of Bills Receivable.......................................","11,000"),("Closing Balance of Bills Payable.............................................","8,000"),("Bills Payable issued ............................................................","35,000"),("Bills Receivable encashed .......................................................","46,000"),("Bills Reveivable received ........................................................","49,000"),("Bills payable paid in cash .......................................................","36,000"),("Bills Receivable dishonoured ..................................................","1,000"):}

    Renewal Of The Bill