Advertisement

Question No 09 Chapter No 13 – D.K Goal 11 Class

Question No 09 Chapter No 13
Q-09 - CH-13 - D.K Goal +1 Book 2020 - Solution

Advertisement

Question No 09 Chapter No 13

Advertisement

Retiring a Bill under Rebate

09. Record the following transaction in the books of Mohan:
(i) Mohan retired his acceptance to Suresh for 10,000 before due date and earned rebate of 200
(ii) One month before maturity Rajesh informed Mohan that he wants to Make payment of his acceptance amounting Rs 8,000 immediately, to which Mohan agreed and also allowed him a rebate @15% p.a.

The solution of Question No 09 Chapter No 13: –

In the books of Mohan(Drawer)
Date  Particulars
L.F.DebitCredit
2019     
(i)Cash A/cDr. 9,800 
 Rebate A/cDr. 200 
 To Bills Receivable A/c   10,000
 (Being Bill retired under the rebate)    
      
(ii)Cash A/cDr. 9,875 
 Rebate A/cDr. 125 
 To Bills Receivable A/c   10,000
 (Being Bill retired under the rebate of @15)    
     

Working Note: –

Advertisement-X

Calculation of Discounting Charges

Amount of Rebate=10,00015X1
10012
       
 =Rs 125    

Bills Payable Book | Subsidiary Books | Examples

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

D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution

Check out the Accountancy Class +1 by D.K. Goal (Arya Publication) from their official Site.

D K goel accountancy +1 - ISC_Accounts_11_20_Image-min
D K Goel accountancy +1 – ISC_Accounts_11_20_ImageQuestion No 42 Chapter No 11 – D.K Goal 11 Class

Advertisement

Advertisement

error: Content is protected !!