From the following details, what will be the closing balance for collection Account:
On 1.4.2017, Bills for collection were - 51,00,000
During the year 2017-18 Bills received for collection amounted to - 75,00,000
Bill collected during the year 2017-18 - 98, 47,000
Bills dishonoured and returned during the year - 27,10,000
a. 47,37,000
b. 3,10,000
c. 43,000
d. 27,53,000
On 1.4.2017, Bills for collection were - 51,00,000
During the year 2017-18 Bills received for collection amounted to - 75,00,000
Bill collected during the year 2017-18 - 98, 47,000
Bills dishonoured and returned during the year - 27,10,000
a. 47,37,000
b. 3,10,000
c. 43,000
d. 27,53,000
Solution:
| Balance as on 1/4/2017, Balance Receivable | 5100000 | |
| Bill Receivable in 2017-18 | 7500000 | |
| Bill Dishonored in 2017-18 | -2710000 | |
| If All Bill Received in 2017-18 then | ||
| Balance will be | 9890000 | |
| But Bill Received in 2017-18 | 9847000 | |
| Bill Receivable at Closing | 43000 |
No comments:
Post a Comment