Question

Ascertain the appropriate missing figure by preparing Bills Payable Account from the following information:
Bills Payable as on March 31, 2017 Rs. 4,000,
Bills discharged Rs. 37,200,
Bills payable as on March 31, 2018 Rs. 800.

Answer 1

$\text{Dr.}\text{Bills Payable Account}\text{Cr.}\begin{array}{cccc}\text{Particulars}& \text{Amt. (Rs.)}& \text{Particulars}& \text{Amt. (Rs.)}\\ \text{Cash A/c (B/P discharged)}& 37,200& \text{Balance b/d}& 4,000\\ \text{Balance c/d}& 8,00& \text{Total Creditors's A/c}& 34,000\\ & & \text{(Bills accepted)}& \\ & \overline{\underset{–}{38,000}}& & \overline{\underset{–}{38,000}}\end{array}$