Page 14 - Chapter-11.pmd

450 Accountancy

Cash sales 10,000
Cash purchases 8,000
Total debtors as on March 31, 2014 80,000
Cash received from debtors 1,00,000
Cash paid to creditors 80,000
Cash received against bills receivable 25,000
Payment made against bills receivable 40,000
Total creditors as on March 31, 2014 40,000
Bills payable as on March 31, 2014 50,000
Bills receivable as on March 31, 2014 35,000

Solution
Total Bills Receivable Account
Dr. Cr.
Date Particulars J.F. Amount Date Particulars J.F. Amount
Rs. Rs.
Balance b/d 30,000 Cash 25,000
Total debtors 30,000 Balance c/d 35,000
(balancing figure)
60,000 60,000

Total Bills Payable Account
Dr. Cr.
Date Particulars J.F. Amount Date Particulars J.F. Amount
Rs. Rs.
Cash 40,000 Balance b/d 45,000
Balance c/d 50,000 Total creditors 45,000
(balancing figure)
90,000 90,000

Total Debtors Account
Dr. Cr.
Date Particulars J.F. Amount Date Particulars J.F. Amount
Rs. Rs.
Balance b/d 40,000 Bad debts 2,000
Sales 1,79,000 Return inwards 4,000
(balancing figure)
Discount allowed 3,000
Cash 1,00,000
Bills receivable 30,000
(Transfer from bills
receivable account)
Balance c/d 80,000
2,19,000 2,19,000

2015-16