# Question No 22 Chapter No 15 – USHA Publication 11 Class

Question No 22 Chapter No 15

Retiring a bill under Rebate

22. On August 1, 2018, Pandya draws a bill on Raina for Rs 6,000 payable after 4 months. As per the customs of the trade, cash rebate @15% p.a. allowed for early payment of the biil
Calculate the amount of rebate in the following cases:
(i)Raina retires the bill on Sep. 4, 2018
(ii)Raina retires the bill on Oct. 4, 2018
(iii)Raina retires the bill on Nov. 4, 2018

### The solution of Question No 22 Chapter No 15: –

Calculation of the amount of Rebate

Retires the bill on Sep. 4,2018

 Retires = 6,000 x 15 x 3 100 12 = Rs 225

Retires the bill on Oct. 4, 2018

 Retires = 6,000 x 15 x 2 100 12 = Rs 150

Retires the bill on Nov. 4, 2018

 Retires = 6,000 x 15 x 1 100 12 = Rs 75

Bills Receivable Book | Subsidiary Books | Examples

Bills Payable Book | Subsidiary Books | Examples

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## 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)