Question No 02 Chapter No 15 – USHA Publication 11 Class

Question No 02 Chapter No 15

Question No 02 Chapter No 15

Determination of Due Date

2. Find out the due dates of the following:

(i) A bill payable 3 m/d is id drawn on November 30, 2018, and accepted on 6th December 2018
(ii) A bill payable 2 m/s is drawn on 25th December 2018 and accepted on 29th December 2018.
(iii) A promissory note payable 30 d/d drawn on 20th December 2018.
(iv) A bill payable 45 d/s is drawn on 23rd December 2018 and accepted on 29th December 2018

The solution of Question No 02 Chapter No 15: –

Date of Bill Tenure
Calculation Due Date
(i) 30th November 2018 3 months 3 months from November 30, 2018, would be Feb 1, 2019, + 3 days of grace 3rd March 2019
    Note: days counted from the date of drawing the bill
 
       
(ii) 29th December 2018 2 Months 2 Months from December 29, 2018, would be Feb 28, 2019, + 3 days of grace 1st March 2019
    Note: days counted from the date of acceptance of the bill  
       
(iii) 20th December 2018 60 days 11 December + 31 January + 18 February + 3 days of grace 21st February 2019
    Note: days counted from the date of acceptance of the bill  
       
(iv) 29th December 2018 45 days 2 December + 31 January + 12 February + 3 days of grace 15th February 2019
    Note: days counted from the date of acceptance of the bill  
       

 

 

Bills Receivable Book | Subsidiary Books | Examples

 

Bills Payable Book | Subsidiary Books | Examples

 


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Also, Check out the solved question of all Chapters: –

Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting 

Chapter No. 3 – Origin of Transactions

Chapter No. 4 – Vouchers and transactions

Chapter No. 5 – Journal

Chapter No. 6 – Accounting for Goods and Services Tax(GST)

Chapter No. 7 – Ledger

Chapter No. 8 – Cash Book

Chapter No. 9 – Other Subsidiary Books

Chapter No. 10 – Journal Proper

Chapter No. 11 – Trial Balance

Chapter No. 12 – Bank Reconciliation Statement

Chapter No. 13 – Depreciation

Chapter No. 14 – Provisions and Reserves 

Chapter No. 15 – Bills of Exchange

Chapter No. 16 – Rectification of Errors 

Chapter No. 17 – Financial Statements – (Without Adjustments)

Chapter No. 18 – Financial Statements – (With Adjustments)

 

 

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