Title TS-Grewal-Class11-CH12.pdf ✅

Q.1 Calculate the due dates of the bills in the following cases: Date of Bill Tenure (Period) (i) 1st December, 2018 60 Days (ii) 30th April, 2019 2 Months (iii) 28th January, 2019 1 Month (iv) 23rd November, 2018 2 Months (v) 29th May, 2018 4 Months The solution can be presented as follows
Q.2 On 10th March, 2019, A draws on B a bill at 3 months for ₹ 20,000 which B accepts immediately and returns to A. The bill is honoured due date. Pass necessary Journal entries in the books of both the parties. The solution can be presented as follows
Q.3 On 1st January, 2019, A sold goods to B for ₹ 5,000 plus IGST @ 18%. A received ₹ 900 by cheque from B and drew on him a bill for the balance amount payable 3 months after date. The bill was duly accepted by B. A retained the bill till due date. On due date, the bill was paid. Pass Journal entries in the books of A and B. Also, show necessary accounts in the books of both the parties. The solution can be presented as follows
Q.4 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 after date. He discounted the bill with his bank for ₹ 990 on 4th January, 2019. On maturity, the bill is duly met. Make the Journal entries in the books of Vinod and Darbara Singh. The solution can be presented as follows