Question : Prepare the suitable accounts and find out the missing figure if any
(Rs)
Opening balance of debtors $14, 00, 000$
Opening balance of bills receivable $7, 00, 000$
Closing balance of bills receivable $3, 50, 000$
Cheque dishonoured $27, 000$
Cash received from debtors $10, 75, 000$
Cheque received and deposited in the bank $8, 25, 000$
Discount allowed $37, 500$
Irrecoverable amount $17, 500$
Returns Inwards $28, 000$
Bills receivable received from customers $1, 05, 000$
Bills receivable matured $2, 80, 000$
Bills discounted $65, 000$
Bills endorsed to creditors $70, 000$

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Solution

Answer
Dr Debtor's Account Cr
Date Particulars JF Amt.(Rs) Date Particulars JF Amt.(Rs)

To Balance $14, 00, 000$ By Cash A/c $10, 75, 000$
To Bank (cheque dishonoured)
$27, 000$ By Bank (cheque) $8, 25, 000$
To Bills receivable (Dishonoured) $40, 000$ By Bad debts $17, 500$
To Sales (Credit)
(Balancing figure)
$6, 21, 000$ By Return Inwards $28, 000$
By Discount allowed $37, 500$
By Bills receivable $1, 05, 000$
$20, 88, 000$ $20, 88, 000$

Dr Bills Receivable Account Cr
Date Particulars JF Amt. (Rs) Date Particulars JF Amt.(Rs)
To Balance b/d $7, 00, 000$ By Cash (matured) $2, 80, 000$
To Debtor (Bills Receivable Received) $1, 05, 000$ By Bank(Bill endorsed) $65, 000$
By Creditors (endorsed) $70, 000$
By Debtors (Dishonoured) (Balancing figure) $40, 000$
By Balance c/d $3, 50, 000$
$8, 05, 000$ $8, 05, 000$

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Prepare the suitable accounts and find out the missing figure if any.

	Rs
Opening balance of debtors	14,00,000
Opening balance of bills receivable	7,00,000
Closing balance of bills receivable	3,50,000
Cheque dishonoured	27,000
Cash received from debtors	10,75,000
Cheque received and deposited in the bank	8,25,000
Discount allowed	37,500
Irrecoverable amount	17,500
Returns inwards	28,000
Bills receivable received from customers	1,05,000
Bills receivable matured	2,80,000
Bills discounted	65,000
Bills endorsed to creditors	70,000

	(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	$25, 000$

	(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	$2, 15, 000$

Find out the credit purchases from the following:

	Rs
Balance of creditors April 01, 2016	45,000
Balance of creditors March 31, 2017	36,000
Cash paid to creditors	1,80,000
Cheque issued to creditors	60,000
Cash purchases	75,000
Discount received from creditors	5,400
Discount allowed	5,000
Bills payable given to creditors	12,750
Return outwards	7,500
Bills payable dishonoured	3,000
Bills receivable endorsed to creditors	4,500
Bills receivable endorsed to creditors dishonoured	1,800
Return inwards	3,700

Prepare the bills payable account from the following and find out missing figure if any :

	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

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	(Rs)
Opening balance of debtors	$14, 00, 000$
Opening balance of bills receivable	$7, 00, 000$
Closing balance of bills receivable	$3, 50, 000$
Cheque dishonoured	$27, 000$
Cash received from debtors	$10, 75, 000$
Cheque received and deposited in the bank	$8, 25, 000$
Discount allowed	$37, 500$
Irrecoverable amount	$17, 500$
Returns Inwards	$28, 000$
Bills receivable received from customers	$1, 05, 000$
Bills receivable matured	$2, 80, 000$
Bills discounted	$65, 000$
Bills endorsed to creditors	$70, 000$

Date	Particulars	JF	Amt.(Rs)	Date	Particulars	JF	Amt.(Rs)
	To Balance		$14, 00, 000$		By Cash A/c		$10, 75, 000$
	To Bank (cheque dishonoured)		$27, 000$		By Bank (cheque)		$8, 25, 000$
	To Bills receivable (Dishonoured)		$40, 000$		By Bad debts		$17, 500$
	To Sales (Credit) (Balancing figure)		$6, 21, 000$		By Return Inwards		$28, 000$
					By Discount allowed		$37, 500$
					By Bills receivable		$1, 05, 000$
			$20, 88, 000$				$20, 88, 000$

Date	Particulars	JF	Amt. (Rs)	Date	Particulars	JF	Amt.(Rs)
	To Balance b/d		$7, 00, 000$		By Cash (matured)		$2, 80, 000$
	To Debtor (Bills Receivable Received)		$1, 05, 000$		By Bank(Bill endorsed)		$65, 000$
					By Creditors (endorsed)		$70, 000$
					By Debtors (Dishonoured) (Balancing figure)		$40, 000$
					By Balance c/d		$3, 50, 000$
			$8, 05, 000$				$8, 05, 000$