Bills of Exchange Solution HSC ACCOUNTS MARCH 2019.


BILLS OF EXCHANGE BOARD PROBLEMS:

MARCH 2019: Pooja owes Sunil Rs. 50,000. Sunil draws a bill for Rs. 42,000 on Pooja for 3 months' period and received the cheque for the balance. The bill is duly accepted and returned to Sunil. On the Same date, Sunil endorsed Pooja's acceptance to Prema. 

On the due date, Prema informed Sunil that Pooja dishonoured her acceptance and paid Rs. 350 as noting charges. Sunil then drew new bill for one month on Pooja including noting charges and interest Rs. 1,200. On the due date Pooja honoured the bill by cheque. 

Prepare: Pass Journal Entries in the books of Sunil and prepare Sunil's account in the books of Pooja.

27 comments:

  1. how many marks do i score if 4 journal entries are correct and ledger partially correct?

    ReplyDelete
  2. In first entry i write
    Cash a/c debit
    Pooja a/c debit
    To sale a/c
    2nd Bill receivable a/c dr
    To pooja a/c.
    Kya yeh shi h

    ReplyDelete
    Replies
    1. No... moreover how can it be cash if balance is paid by cheque...

      Delete
  3. My ledger is wrong will i get marks?

    ReplyDelete
  4. Sir accounts ki checking liberal hoti hai ki nahi

    ReplyDelete
  5. How many marks i i will get if my journal entries are correct but ledger is totally wrong

    ReplyDelete
    Replies
    1. 8 marks as ledger carries only 2 marks

      Delete
  6. One journal entry is wrong and one entry in ledger then how many marks would i get

    ReplyDelete
    Replies
    1. 1 mark will be deducted for journal entry and 1 for ledger so 8.

      Delete
  7. journal entries carry 8 marks and ledger 2 marks

    ReplyDelete
  8. Why is noting charges and intrest credited in pooja's book sunil's account the entry is
    Sunil's account Dr
    Noting charges account Dr
    Intrest account Dr
    To bills payable account
    so how is the posting to the credit of sunil's account

    ReplyDelete
  9. This comment has been removed by the author.

    ReplyDelete
  10. From where did u get at first bank account 8000?

    ReplyDelete
  11. Total of Dr.side of ledger is written as 93550 but how ??
    Their is a difference of 200...

    ReplyDelete
  12. Sir how to know that interest will given debit Or credit

    ReplyDelete
  13. Is it compulsory to draw ledger if not asked in sum

    ReplyDelete
  14. If date has been not written from us than how many marks will be deducted.

    ReplyDelete
  15. how does the balance bd came in ledger

    ReplyDelete
  16. Why interest is credited in journal entries

    ReplyDelete
  17. How does noting charges appear separately on the the credit side of ledger?

    ReplyDelete

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