Home
Class 11
ACCOUNTS
On 15th January, 2006 Sachin sold goods...

On 15th January, 2006 Sachin sold goods for ₹ 30,000 to Narain and drew upon later a bill for the same amount payable after 3 months. The bill was accepted by Narain. The bill was discounted by sachin from his bank for ₹29,250 on 31th January, 2006, on maturity the bill was dishonourd . he further agreed to pay ₹ 10,500 in cash including ₹ 500 interset and accept a new bill for two months for the remaining ₹ 20,000. the new bill was endorsed by sachin in favour of his creditor Kapil for debt of ₹ 20, 000. the new bill was duly met by Narain on maturity. give journal entries.

Promotional Banner

Similar Questions

Explore conceptually related problems

Vinod sold goods to Darbara Singh for ₹ 1,000 on 1st January 2019. He drew on the latter a bill for the amount payable 3 months afteer date. Iie discounted the bill with his bank for ₹ 990 on 4th January, 2019. On maturity the bill is duly met. Make the journal entriese the books of Vinod and Darbara Singh.

On 1st January , 2019 X sold goods of ₹ 20,000 to Y and drew a bill on Y at months of the amount. Y accepted the bill. The bill is met on maturity. Pass the necessary Journal entries in the books of X and Y , if X dicounted the bill @ 12% p.a. from bank on 4th January

On 1st January, 2019, Amrit sold goods to Bhanu for ₹ 50,000 and on the same day drew upon him a bill at 3 months fot he amount. Bhanu accepted the bill and returned it to Amrit. On 4th January , 2019 Amrit discounted the bill with his bank at ₹ 49,000. on the due date, the bill was dishonoued and bank paid ₹ 1,000 as noting chares. Pass the neccessary Journal entries in the books of Amrit and Bhanu.

On 1st January , 2019 A draws a bill in B for ₹ 1,000 payable after 3 months. Immediately after its acceptance, A sends the bill to his bank for collection. On the due date, the bill was dishonourd . Record the transactions in the Journals of A and B.

From the following, calculate the amount of bills accepted during the year.

Amar sells goods to Bhola for ₹ 10,000 and draws upon him a bill for the amount payable 3 months after date. The bill is accepted by Bhola. Amar discounts the bill with his bankers at a discount of ₹ 150 inclusive of all charges. Bhola falls to meet this bill on maturity. Amar pays off his banker and his expenses amounting to ₹ 100 . Bhola gives a fresh bill, 2 months date to Amar for ₹ 10,250 which he met at maturity. Show the necessary Journal entries in Amar's books.

On 1st January 2019, A sold to B for ₹ 10, 000 and drew upon him a billl at 3 months for the amount. B accepted the bill and returned it to A. on 4th March, 2019, B retired the bill under rebate of 6 % p.a. Record these transactions in the Journal of A and B.

Ram owes ₹ 2,000 to Mohan on 1st January 2019 on this date, he accepted a draft for the amount for 3 months.Mohan got the bill discunted at his bank @ 6% p.a. on the due date, the bill was dishonoured , noting charges ₹ 20. Ram agreed to pay ₹ 520 immediately and accpet another bill for the remaining amount for 3 months together with interset at 9% p.a.. this bill was met on the due date. give the journal entries in the books of both paties.

Recommended Questions
  1. On 15th January, 2006 Sachin sold goods for ₹ 30,000 to Narain and dr...

    Text Solution

    |

  2. डार्विन के जैव-विकास के सिद्धांत में सबसे बड़ी कमी किस चीज की जानकारी न...

    Text Solution

    |

  3. प्राकृतिक चयन सिद्धांत का प्रतिपादन किया था-

    Text Solution

    |

  4. जल प्रदूषण से आप क्या समझते है ? जल प्रदूषण के कारणो तथा मानव स्वास्थ...

    Text Solution

    |

  5. भोपाल गैस त्रासदी किस गैस के कारण हुई थी ?

    Text Solution

    |

  6. किसी लम्बी धारावाही परिनालिका के भीतर उसके अक्ष पर चुम्बकीय क्षेत्र का...

    Text Solution

    |

  7. एक व्यक्ति ₹ 1000 का नोट लेकर बैंक जाता है। वह कैशियर से बदले में केवल...

    Text Solution

    |

  8. एक छात्रावास के मासिक व्यय का एक भाग नियत है तथा शेष इस पर निर्भर करता...

    Text Solution

    |

  9. श्री मोहित ने एक निश्चित दूरी के लिए ट्रेडमिल पर चलने का फैसला किया है...

    Text Solution

    |