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@mohit
Subject: Accountancy
, asked on 14/3/18
Q. Journalise the following transactions in books of R; -
(i) D's promissory note for 1,000 which we had endorsed in favour of M dishonoured. M paid Rs. 20 as noting charges. We paid M by cheque. D pays Rs. 400 immediately and requests to draw a new bill for 3 months, for the balance amount along with interest @ 10% p.a
(ii) Our acceptance to M for 3,000 retired before due date. rebate allowed Rs. 45.
(iii) L's acceptance to us for Rs. 10,000 which was sent to bank for collection was returned by the bank dishonoured. Noting charges paid hy bank Rs. 50.
Answer
1
Kshitij Aggarwal
Subject: Accountancy
, asked on 13/2/18
hardest question of brs,bill of exchange,rectification of errors
Answer
1
Ayushi Khandelwal
Subject: Accountancy
, asked on 9/1/18
On 1st july 2015 A for mutual consideration of himself and B draws upon the latter a 3 months bill for 9000 which was duly accepted. A discounts the bill at 6% per annum on 3rd july and remits one third of the proceeds to B. Before the due date , A remits his share with B who meets the bill. Pass journal entries in the books of A and B.
Answer
1
Ritika Dhiman
Subject: Accountancy
, asked on 31/12/17
Entry for goods returned by C taken into stoch but was omitted to be recorded rs. 500
Answer
2
Tanmaya Darisi
Subject: Accountancy
, asked on 25/12/17
how to calculate rebate in illustration 24 of ts grewal double entry? How we got 50 rupees as rebate? Here is the question.
Answer
2
Hiren Tekwani
Subject: Accountancy
, asked on 16/12/17
Q. Tarun and Varun were in need of funds temporarily. On 1st January 2015, Tarun
drew upon Varun a bill for Rs. 8000 for 3 months. Varun returned it duly accepted and Tarun got it discounted at 18% pa. Half the proceeds were remitted to Varun. On the due date, Tarun sent the required sum to Varun who met the bill.
Journalise the transactions in the books of both the parties.
Q. On 1st Apri1 2013 X Ltd. purchased a machinery for Rs. 6,00,000. On 1st October, 2015 a part of machinery purchased on 1st April,2013 for Rs. 40,000 was sold for Rs. 22500 and
machinery at the cost of Rs. 79,000 was purchased and installed on the same date.The company has adopted the method Of providing 10% p.a. depreciation on the Diminishing Balance of the machinery.
The accounting year ends on 31st March.
Show the necessary Ledger accounts assuming that Provision for Depreciation
Account's maintained.
Answer
2
Mathew Jacob
Subject: Accountancy
, asked on 14/11/17
Mohan sold goods to Ram for ₹20,000 on 1st April 2010. On this date, Ram accepted the bill for the same amount for two months. Mohan got the bill discounted at his bank for ₹19,500. On the due date, bill was dishonoured noting charges ₹100 were paid by the bank. Ram agreed to pay ₹5,000 plus noting charges in cash immediately and accepted a new bill for the balance amount for three months with interest at 10% p.a. On 1st august 2010 Ram became insolvent and a first and final dividend of 60 paise in a rupee was received from his estate. Record journal entries in the books of Mohan.
Answer
2
Gunashekar
Subject: Accountancy
, asked on 24/2/17
who draws the bills of exchange
Answer
8
Shanaya
Subject: Accountancy
, asked on 10/2/17
Plz tell 10 &11
Answer
1
Wayne Moses Fernandes
Subject: Accountancy
, asked on 26/1/17
mr a draws on B a bill of exchange for 3 months for rs 10,000 which B accepts on Jan 1 2006. A endorses the bill in favour of C. Before maturity B approaches A with the request that the bill will be renewed on a further period of 3 months @18%p.a interest. A pays the sum to C on the due date and agrees to B's proposal. Pass the journal entries in the books of A assuming that the second bill is duely met
Answer
1
Rydham Shah
Subject: Accountancy
, asked on 13/1/17
sunny draws a bill on vivek for 3 months. on the due date vivek finds himself in financial difficulties and requests sunny to renew the bill for a further period of one month. sunny agrees to his request. what is the virtue involved in renewing the bill?
Answer
1
Nishant Singh
Subject: Accountancy
, asked on 18/12/16
Please help me to solve it out.
Answer
2
Fayad Mehamood.mk
Subject: Accountancy
, asked on 9/11/16
is bills of accommodation is important
Answer
2
Fayad Mehamood.mk
Subject: Accountancy
, asked on 3/11/16
sumMary of chapter bills of exchange
Answer
1
Fayad Mehamood.mk
Subject: Accountancy
, asked on 27/10/16
explain bill after date and sight
Answer
1
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What are you looking for?
(i) D's promissory note for 1,000 which we had endorsed in favour of M dishonoured. M paid Rs. 20 as noting charges. We paid M by cheque. D pays Rs. 400 immediately and requests to draw a new bill for 3 months, for the balance amount along with interest @ 10% p.a
(ii) Our acceptance to M for 3,000 retired before due date. rebate allowed Rs. 45.
(iii) L's acceptance to us for Rs. 10,000 which was sent to bank for collection was returned by the bank dishonoured. Noting charges paid hy bank Rs. 50.
drew upon Varun a bill for Rs. 8000 for 3 months. Varun returned it duly accepted and Tarun got it discounted at 18% pa. Half the proceeds were remitted to Varun. On the due date, Tarun sent the required sum to Varun who met the bill.
Journalise the transactions in the books of both the parties.
Q. On 1st Apri1 2013 X Ltd. purchased a machinery for Rs. 6,00,000. On 1st October, 2015 a part of machinery purchased on 1st April,2013 for Rs. 40,000 was sold for Rs. 22500 and
machinery at the cost of Rs. 79,000 was purchased and installed on the same date.The company has adopted the method Of providing 10% p.a. depreciation on the Diminishing Balance of the machinery.
The accounting year ends on 31st March.
Show the necessary Ledger accounts assuming that Provision for Depreciation
Account's maintained.