Page 35 - Chapter-11.pmd

Accounts from Incomplete Records 471

Rs.
Bills accepted 1,05,000
Discount received 17,000
Purchases returns 9,000
Return inwards 12,000
Cash paid to accounts payable 50,000
Bills receivable endorsed to creditor 45,000
Bills dishonoured 17,000
Bad debts 14,000
Balance of accounts payable (closing) 85,000
Credit purchases 2,15,000
[Ans : Opening balance of creditors : Rs. 79,000].
22. Calculate the amount of bills receivable during the year.
Rs.
Opening balance of bills receivable 75,000
Bill dishonoured 25,000
Bills collected (honoured) 1,30,000
Bills receivable endorsed to creditors 15,000
Closing balance of bills receivable 65,000
[Ans : Rs. 1,60,000].
23. Calculate the amount of bills receivable dishonoured from the following
information.
Rs.
Opening balance of bills receivable 1,20,000
Bills collected (honoured) 1,85,000
Bills receivable endorsed 22,800
Closing balance of bills receivable 50,700
Bills receivable received 1,50,000
[Ans : Rs. 11,500].
24. From the details given below, find out the credit sales and total sales.
Rs.
Opening debtors 45,000
Closing debtors 56,000
Discount allowed 2,500
Sales returns 8,500
Irrecoverable amount 4,000
Bills receivables received 12,000
Bills receivable dishonoured 3,000
Cheque dishonoured 7,700
Cash sales 80,000
Cash received from debtors 2,30,000
Cheque received from debtors 25,000
[Ans : Total sales : Rs. 3,62,300].
25. From the following information, prepare the bills receivable account and
total debtors account for the year ended December 31, 2013.

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