Bills were discounted to the extent of Rs. 10,000 of which bills of
Rs. 4,000 are likely to be dishonoured. Hence, the liability to rank
in respect of these bills will be
.
a. Rs. 14,000
b. Rs. 10,000
c. Rs. 4,000
d. Rs. 6,000
Answers
Answer:
If the bills are discounted to 10,000 and the bills to be dishonoured are of 4,000 thus the liability will fall on the bill of 4000
Explanation:
Drawee’s A/c Dr. 10,020
To Bank A/c 10,020
(Discounted bill dishonoured and noting charges paid)
Bills Payable A/c Dr. 10,000
Noting Charges A/c Dr. 20
To Drawer’s A/c 10,020
(Bills dishonoured and noting charges paid)
The amount invested inside the business whether or not in the manner of coins or type by using the proprietor or owner of the business is referred to as capital. The capital account may be credited and the cash or belongings added in might be debited
when the coins is available in, we debit the cash A/c and credit the capital A/c adhering to the guidelines of real Account and personal Account which says” Debit what comes in whereas credit score the giver. The capital invested inside the commercial enterprise is a liability to the firm/situation and so it's far credited.
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