Tag: book keeping and accountancy
Questions Related to book keeping and accountancy
On 18.2.13 A drew a bill on B for 10,000. B accepted the bill on 21.2.13. The bill is drawn for 30 days after sight. The due date of the bill will be:
On 1st Jan 2013, X draws a bill on Y for Rs 1,50,000 for 3 months. X got the bill discounted on 4th Jan 2013, @ 12% p.a. The amount of discount on bill will be:
On 10th Sept. X draws a bill on Y for 3 months for 20,000. $ { 13 }^{ th } $ Dec. Was a sudden holiday, due date of the bill will be:
X got Y's acceptance on s bill drawn for Rs 1,50,000, discounted at 2 months at 12% p.a. The amount of discount will be?
A bill is drawn on $ { 29 }^{ th } $ Jan for one month after date. The date of acceptance is $ { 2 }^{ nd } $ Feb. The bill is drawn on one month after date basis. The due date of the bill will be:
On 10th Sept. X draws a bill on Y for 25,000 for 30 days. 13th Dec. is public holiday, due date of the bill will be:
A draws a bill on B for 1,50,000. A endorsed the bill to C. The bill return dishonoured. Noting charges 1,500. B request A to accept the amount at 2% discount by a single cheque. The cheque amount will be:
X draws on Y a bill for 6,00,000 on 1st April for 2 months. Y accepts the bill and sends it to X who gets it discounted for 5,88,000. X immediately remits 1,96,000 to Y. On due date, X being unable to remit the amount due accepts a bill for 8,40,000 for 2 months which is discounted by Y for 8,20,000. Y sends 1,48,000 to X out of the same. How much discount will be borne by X at the time of 1,48,000 remittances.
X sold goods worth Rs 1,50,000 to Y. Y immediately accepted a bill on 1st Nov payable after 2 months. X discounted this bill @ 18% p.a. on 15th Nov. On the due date , Y failed to discharge the bill. Later on Y became insolvent and 50 paise in a rupee is recovered from Y's estate. How much amount of bad debt will be recorded in the books of X?
X sold goods to Y on 1st June for 1,50,000. Y immediately accepted a three months bill. On due date Y requested that the bill be renewed for a fresh period of two months. X agrees provided interest at 9% p.a. was paid immediately is cash. What will be the amount of interest in the books of X?