31. Krishna accepted a bill for three months drawn by Rama for Rs. 4000. Rama discounted the bill with the bank at Rs. 3900. On the date of maturity, the bill was dishonoured. Rama paid noting charges for Rs. 20. Krishna paid half the amount for the bill and full amount of the noting charges and accepted a bill for the balance including interest of Rs. 50. The second bill was duly honoured. Pass necessary journal entries in the books of Rama and show Krishna’s account. [Ans.]

32. Sagar owes Sindhu Rs. 8000 Sagar accepted a bill for 3 months by Sindhu for Rs. 8000. Sindhu discounted the bill with bank at Rs. 7800. On the due date, the bill was dishonoured. Noting charges amounted to Rs. 20. Sagar Paid half the amount of the bill and full amount of the noting charges including interest of Rs. 100. Pass journal entries in the books of Sindhu and show the account of Sagar.

33. Jain purchased goods worth Rs. 3,000 from Sharma on 1st June 1977 and gave him acceptance on 3rd June for a period of three months. On 15th June Sharma discounted the bill for Rs. 2980. On 6th September, when the bill was presented for payment. Jain dishonoured the same. Rs. 20 was paid as noting charges. Pass journal entries in the books of Sharma and Sharma’s account in the books of Jain.

34. Ameet draws a bill for Rs. 7500 on Tushar for four months. Ameet discounts the bill with the bank at 8%p.a. On the due date Tushar requested Ameet to accept Rs. 4,700 (including Rs. 200 for interest) and to draw a bill for the balance of three months. Ameet agrees this proposal. Before the due date of the new bill Tushar retires the bill for Rs. 2960. Pass the journal entries in the books of Tushar and open Tushar’s account in the books of Ameet.Journal Entries in the Books of Tushar.

35. Journalise the following transactions in the books of Rahul.

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32. Sagar owes Sindhu Rs. 8000 Sagar accepted a bill for 3 months by Sindhu for Rs. 8000. Sindhu discounted the bill with bank at Rs. 7800. On the due date, the bill was dishonoured. Noting charges amounted to Rs. 20. Sagar Paid half the amount of the bill and full amount of the noting charges including interest of Rs. 100. Pass journal entries in the books of Sindhu and show the account of Sagar.

33. Jain purchased goods worth Rs. 3,000 from Sharma on 1st June 1977 and gave him acceptance on 3rd June for a period of three months. On 15th June Sharma discounted the bill for Rs. 2980. On 6th September, when the bill was presented for payment. Jain dishonoured the same. Rs. 20 was paid as noting charges. Pass journal entries in the books of Sharma and Sharma’s account in the books of Jain.

34. Ameet draws a bill for Rs. 7500 on Tushar for four months. Ameet discounts the bill with the bank at 8%p.a. On the due date Tushar requested Ameet to accept Rs. 4,700 (including Rs. 200 for interest) and to draw a bill for the balance of three months. Ameet agrees this proposal. Before the due date of the new bill Tushar retires the bill for Rs. 2960. Pass the journal entries in the books of Tushar and open Tushar’s account in the books of Ameet.Journal Entries in the Books of Tushar.

35. Journalise the following transactions in the books of Rahul.

* Pradeep informed Rahul that, Vijay’s acceptance for Rs. 1,000 endorsed to Pradeep has been dishonoured. Noting charges amounted to Rs. 50.

* Nilesh renews his acceptance to Rahul for Rs. 600 by paying Rs. 200 in cash and accepting a fresh bill for balance plus interest at 12% p.a. for 3 months.

* Prashant’s acceptance to Rahul for Rs. 3,000 retired one month before due date at a discount of 12% p.a.

* Bank informs Rahul as to the dishonour of Aviraj’s acceptance for Rs. 1,000 to Rahul, discounted with the bank. Noting charges are Rs. 20. [Ans]

36. Journalise the following
transactions in the books of Mr. Ashok Agrawal.

The bank informed Mr. Ashok Agrawal
that Kamlesh’s acceptance for Rs. 12,000 sent to bank for collection had been
honoured and bank charges debited were Rs. 60.

Discharged Dr. Ashok Agrawal’s
acceptance to Mahesh for Rs. 15,250 by endorsing Prakash’s acceptance to Mr.
Ashok Agrawal for Rs. 15,100.

Vishal renewed his acceptance to Mr.
Ashok Agrawal for Rs. 11,200 by paying Rs. 6000 in cash and accepting a fresh
bill for the balance plus interest @ 12% p.a. for three months.

Dinesh who had accepted Mr. Ashok
Agrawal’s bill of Rs. 14,000 was declared bankrupt and only 45% of the amount
due could be recovered from his estate. [Ans]

37. Journalise the following
transactions in the books of Kamalakar.

Nisha informs Kamalakar that
Shanti’s acceptance for Rs. 14,000 endorsed to Nisha has been dishonoured and
noting charges have been paid Rs. 200.

Asha renews hare acceptance to
Kamalakar for Rs. 12400 by paying Rs. 6000 in cash and accepting a new bill for
the balance plus interest @ 12% p.a. for 3 months.

The bank informs Kamalakar that
Sindhu’s acceptance for Rs. 15000 has been dishonoured and it has paid noting
charges Rs. 100.

Bank informs Kamalakar that
Sangita’s acceptance for Rs. 12000 which was sent to bank for collection has
been dishonoured. [Ans]

38. Journalise the following
transactions in the books of Ranbir.

Sonam informs Ranbir that Salman’s
acceptance for Rs. 3200 endorsed to Sonam has been dishonoured and the noting
charges amounted to Rs. 80.

Ravindra renews his acceptance to
Ranbir for Rs. 4,800 by paying Rs. 1800 in cash and accepted a fresh bill for
the balance, plus interest @ 12% p.a for 2 months.

Dilip’s acceptance to Ranbir for Rs
8000 is retired one month before the due date at a discount of 12% p.a.

The bank informs Ranbir that
Shirin’s acceptance for Rs 5500 to Ranbir discounted with the bank earlier has
been dishounred and the noting charges Rs. 100. [Ans]

39. Journalise the following
transactions int he books of Kedarnath:

Badrinath informs
Kedarnath that Aloknath's Acceptance of Rs. 16,000 endorsed to Badrinath has
been dishonoured and noting charges amounted to Rs. 500.

Somnath renews his acceptance of Rs. 14,400 to Kedarnath by
paying cash Rs. 4,400 and accepting a new bill for 2 months for the balance
plus interest @ 12% p.a.

Vishwanath retired his acceptance for Rs. 10,500 to
Kedarnath by paying in cash Rs. 10,250.

Recovered only 50% of the amount due from his private estate
of Ramnath, who declared as insolvent, against his bill of Rs. 12,500. [Ans]

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