Question
Ajay draws a bill on Vinay for ₹ 60,000. Vinay accepts it. Ajay endorses it to Chintu in settlement of ₹ 70,000 at 2% discount and the balance in cash. The bill is dishonoured on due date. Calculate the amount by which Ajay is to be debited in the books of Chintu.
More Accounts Questions
- A CGU comprises back-office software (finite life) and a customer list (indefinite life). Recoverable amount is below carrying amount due to regulatory pri...
- If the overdraft as per the cash book is ₹20,000, and there are unpresented cheques worth ₹3,000, the balance as per passbook will be:
- What is the purpose of a "CIBIL score" in the context of banking in India?
- A general insurer bundles motor policies with a roadside assistance service delivered by a third party. Premium is collected upfront for 12 months; assista...
- A software company provides license + 2 years of updates and support. How should revenue be recognised?
- In the context of securities issuance, 'Green Shoe Option' allows the underwriter to:
- A company has Fixed Costs of ₹2,00,000, a contribution margin ratio (P/V ratio) of 25%, and it achieved total sales of ₹10,00,000. Calculate the profit ear...
- GK Ltd. forfeited 500 shares of Rs. 10 each, fully called up, and held by Mr. Rakesh for non-payment of allotment money of Rs. 4 per share and first and fi...
- A company produces 1,000 units. Standard material consumption per unit is 4 kg @ ₹25/kg. Actual consumption is 4,500 kg @ ₹24/kg. Calculate the Material Us...
- Under Ind AS 116, which of the following is true for lessees?
Relevant for Exams:
Hey! Ask a query
Please enter email id
The email must be a valid email address.
Please enter Mobile Number
Please enter valid Mobile Number
Please enter your Doubt
