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 G draws a bill on R. G endorses the bill to S. On the due date the bill is dishonoured. On dishonour, which account is credited in the books of G?

  • a) 
    Bills Receivable A/c
  • b) 
    .SA/c
  • c) 
    R A/c
  • d) 
    Bills Payable A/c
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
G draws a bill on R. G endorses the bill to S. On the due date the bil...
Explanation:
When a bill is dishonoured, the person who endorsed it becomes liable for the payment. In this case, G endorsed the bill to S, so G's account will be affected.

The account that will be credited in the books of G is S's account. This is because S is the person who is supposed to receive the payment, but since the bill was dishonoured, G is liable to pay the amount. Therefore, G's liability towards S increases, and the amount is credited to S's account.

To summarize:

- G draws a bill on R
- G endorses the bill to S
- On the due date, the bill is dishonoured
- G's liability towards S increases
- S's account is credited in the books of G.
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G draws a bill on R. G endorses the bill to S. On the due date the bil...
In the books of Gwhile G draws a bill on R. The entry will be , Bills receivable A/C. Dr. To R A/CWhile endorsing it to S. The entry will be, S A/C. Dr. To Bills receivable A/CThe entry for dishonouring an endorsed bill will be , R A/C. ( receivable from) Dr. To S A/C ( payable to)
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G draws a bill on R. G endorses the bill to S. On the due date the bill is dishonoured. On dishonour, which account is credited in the books of G?a)Bills Receivable A/cb).SA/cc)R A/cd)Bills Payable A/cCorrect answer is option 'B'. Can you explain this answer?
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G draws a bill on R. G endorses the bill to S. On the due date the bill is dishonoured. On dishonour, which account is credited in the books of G?a)Bills Receivable A/cb).SA/cc)R A/cd)Bills Payable A/cCorrect answer is option 'B'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about G draws a bill on R. G endorses the bill to S. On the due date the bill is dishonoured. On dishonour, which account is credited in the books of G?a)Bills Receivable A/cb).SA/cc)R A/cd)Bills Payable A/cCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for G draws a bill on R. G endorses the bill to S. On the due date the bill is dishonoured. On dishonour, which account is credited in the books of G?a)Bills Receivable A/cb).SA/cc)R A/cd)Bills Payable A/cCorrect answer is option 'B'. Can you explain this answer?.
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