मराठी
महाराष्ट्र राज्य शिक्षण मंडळएचएससी वाणिज्य (इंग्रजी माध्यम) इयत्ता १२ वी

Veena who had accepted Sudha’s bill for ₹ 28,000 was declared bankrupt and only 35 paise in a rupee could be recovered from her estste. Calculate the amount of bad debts. - Book Keeping and Accountancy

Advertisements
Advertisements

प्रश्न

Veena who had accepted Sudha’s bill for ₹ 28,000 was declared bankrupt and only 35 paise in a rupee could be recovered from her estste. Calculate the amount of bad debts.

बेरीज

उत्तर

From Veena, only 35 paise in a rupee could be recovered i.e. 65 paise in a rupee is bad debts for Sudha.

So 65 % of ₹ 28,000

= ₹ 18,200 is the amount of bad debts.

shaalaa.com
Honour and Dishonour of Bill of Exchange
  या प्रश्नात किंवा उत्तरात काही त्रुटी आहे का?
पाठ 7: Bills of Exchange - Exercise 7.1 (Objective Questions) [पृष्ठ ३०३]

APPEARS IN

बालभारती Book Keeping and Accountancy [English] 12 Standard HSC Maharashtra State Board
पाठ 7 Bills of Exchange
Exercise 7.1 (Objective Questions) | Q H. 3) | पृष्ठ ३०३

संबंधित प्रश्‍न

Give one word/phrase/term which can substitute the following statement:-

Fees charged by Notary Public for getting the fact of dishonour noted.


Shefali Traders drew a bill on Maya for ₹ 30,000 on 1st Oct. 2019 payable after 3 months. Calculate amount of discount in the following cases:

i) Shefali Traders discounted the bill on the same day @ 12% p.a.

ii) Shefali Traders discounted the bill on 1st Nov. 2019 @ 12% p.a.

iii) Shefali Traders discounted the bill on 1st Dec. 2019 @ 12% p.a.


Nitin renewed his acceptance for ₹ 72,000 by paying ₹ 22,000 in cash and accepting a new bill for the balance plus interest @ 18% p.a. for 4 months. Calculate the amount of new bill.


Nisha’s acceptance for ₹ 16,850 sent to bank for collection was honoured and bank charges debited were ₹ 125. Find out the amount actually received by Drawer.


A bill of ₹ 16,000 was drawn by Keshav on Gopal on 12th June 2019 for 2 months. What will be the due date, if all of sudden, the legal due date is declared as an emergency holiday?


Neha sold goods to Rohan's ₹42,000 on 6th Sept. 2019. Neha drew a bill of exchange at 3 months for the amount which was accepted by Rohan. Neha disounted the bill with her bankers at ₹ 41,000. On the due date of the bill, Rohan dishonoured the bill and bank paid ₹ 300 as Noting Charges

Show Journal Entries in the Books of Neha and Rohan.


Pankaj purchased goods of ₹ 20,000 from Omprakash on credit on 15th April 2019. Omprakash draws After Sight bill for the amount due on Pankaj for 3 months, which was accepted by Pankaj on 18th April, 2019. On 20th April, 2019 Omprakash endorsed the bill to his creditor Jagsish in full settlement of his amount ₹ 21,000. On the due date, the bill was dishonoured by Pankaj.

Give Journal Entires in the Books of Omprakash, Pankaj and Jagdish.


Seema purchased goods from Roma on credit on 1 st August, 2019 fo ₹ 37,000, Seema accepts bill for 2 months drawn by Roma for the same amount on the same day Roma discounts the bill with the bank for ₹ 36,200 on 3rd August 2019. On the due date the bill is dishonoured and Noting Charges of ₹ 160 is paid by the bank. Seema pays ₹ 19,000 and Noting Charges in cash immediately. Anew bill is drawn by Roma for the balance including interest ₹ 650 for 2 months, which is accepted by Seema. The new bill is retired one month before the due date at a rebate of ₹ 300

Give Journal Entries in the Books of Seema and prepare Seems’s Account in the books of Roma.


Sagar drawn an after sight bill on 21st Nov. 2019 for ₹ 21,000 at 3 months on Prasad. The bill is discounted by Sagar at 8 % p. a. with his bank. On maturity, Prasad finds himself unable to make payment of the bill and requests Sagar to renew it. Sagar accepts the request and draws a new bill at one month for ₹ 21,750 including interest which was duly accepted by Prasad. Sagar deposits the bill into bank for the collection. Prasad honours the bill on the due date and Bank charges ₹ 250 as Bank Charges.

Pass necessary Journal Entries in the Books of Sagar and prepare Sagar’s account in the books of Prasad.


Journalise the following transaction in the books of Abhishek:-

a) Siddhant informs Abhishek that Vineet’s acceptance for ₹ 23,000 endorsed to Siddhant has been dishonoured. Nothing Charges amounted to ₹ 430.

b) Kajal renews her acceptance to Abhishek for ₹ 39,000 by paying 3,000 in cash and accepting a fresh bill for the balance along with interest at 11.5 % p.a. for 3 months.

c) Radhika retired her acceptance to Abhishek for ₹ 23,000 by paying ₹ 22,250 by cheque.

d) Abhishek sent a bill of Subodh for ₹ 9,000 to bank for collection. Bank informed that the bill has been dishonoured by Subodh.


Journalise the following transactions in the books of Narendra: -

a) Narendra retires his acceptance to Upendra by paying ₹ 4,000 in cash and endorsing a bill accepted by Ramlal for ₹ 5,000.

b) Vikram’s acceptance to Narendra ₹ 6,000 retired one month before the due date at rebate of 12% p.a.

c) Dilip renews his acceptance to Narendra for ₹ 12,000 by paying ₹ 4,000 in cash and accepting a fresh bill for the balance plus interest at 12% p.a. for 3 months.

d) Bank informed Narendra that, Kartik’s acceptance for ₹ 13,000 to Narendra, discounted with the bank was dishonoured and Noting Charges paid by bank ₹ 140.


Journalise the following transactions in the books of Bharti:-

a) Bank informed that Amit’s acceptance for ₹15,750 sent to bank for collection was honoured and bank charges debited were ₹ 150.

b) Nitin renewed his acceptance for ₹ 22,200 by paying ₹ 2,200 in cash along with interest on balance amount at 10% and accepted a fresh bill for the balance for 3 months.

c) Dhanshri who had accepted Bharti’s bill for ₹ 17,500 was declared insolvent and only 40% of the amount due could be recovered from his estate.

d) Discharged our acceptance to Savita for ₹ 9,450 by endorsing Pravin’s acceptance to us ₹ 9,000.


Journalise the following transactions in the books of Mrunal:

a) Bank informed that Aishwarya’s acceptance of ₹ 24,000 which was discounted had been dishonoured and bank paid Noting Charges ₹ 220. Bill was renewed at the request of Aishwarya for 2 months with interest of ₹ 480.

b) Received ₹ 4,630 from private estate of Ankur who was declared insolvent against bill accepted by him for ₹ 6,000.

c) Accepted a bill of ₹ 15,000 at 3 months drawn by Anushka for the amount due to her ₹  20,000 and balance paid by cheque.

d) Dishonoured our acceptance to Vivek ₹ 27,000 and Noting Charges paid by Vivek ₹ 700.


Akshay drew a bill on Deepak for ₹ 25,000 on 23rd December, 2019, for 3 months. Deepak accepted the same and returned it to Akshay. On the due date the bill was duly honoured by Deepak.

Give journal entries in the books of Akshay and Deepak under each of the following cases:

  1. If Akshay retained the bill till maturity.
  2. If Akshay discounted the bill with the bank at 6% p.a. on the same day.
  3. If Akshay sent the bill to bank for collection on 23rd December, 2019.
  4. If Akshay endorsed the bill to his creditor Viren.

Give one word/phrase/term which can substitute the following statement:-

Conversion of Bill of Exchange into its present value


Malay drawn an after sight bill on 21st Nov, 2022 for ₹ 26,250 at 3 months on Malay. The bill is discounted by Malay at 8% p.a. with his bank. On maturity Malay finds himself unable to make payment of the bill and requests Malay to renew it. Malay accepts the request and draws a new bill at one month for ₹ 27,188 including interest which was duly accepted by Malay. Malay deposits the bill into bank for the collection. Malay honours the bill on the due date and bank deducted ₹ 313 as bank charges.
Pass necessary journal entries in the books of Malay.


Mitali accepted a bill for ₹ 36,000 drawn by Manoj at 3 months. Manoj discounted the bill for ₹ 34,800. Before the due date Mitali approached Manoj for renewal of the bill. Manoj agreed on the condition that Mitali should pay ₹ 12,000 immediately and for the balance she should accept a new bill for 4 months along with interest ₹ 1,100. The arrangements were carried through. But on the due date of new bill, Mitali became insolvent and 35 paise in a rupee could be recovered from her estate.

Give journal entries in the books of Mitali.


Find the odd one:


Journalise the following transactions in the books of Mr. Arvind.

  1. Bank informed that Sam's acceptance for ₹ 30,000 sent to bank for collection has been honoured and bank charges debited ₹ 200.
  2. Arun informed Arvind that Neena's acceptance for ₹ 25,000 endorsed to Arun has been dishonoured. Noting charges paid by Arun amounted to ₹ 400.
  3. Bank informed that Jay's acceptance of ₹ 35,000 which was discounted with bank was dishonoured, bank paid noting charges ₹ 500.
  4. Arvind sold goods to Sagar for ₹ 20,000 on credit and drew a bill for two months on Sagar for the same amount.
  5. Neeta retired her acceptance to Arvind of ₹ 16,500 by paying cash ₹ 16,000

Give one word/phrase/term which can substitute of the following statement:

Conversion of Bill of Exchange into its present value.


Give one word/phrase/term which can substitute the following statement:

Conversion of Bill of Exchange into its present value.


Share
Notifications

Englishहिंदीमराठी


      Forgot password?
Use app×