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A draws a bill on BBC for 50000 for 3 months later. At maturity the bill returned dishonored noting charges 500.40 paisa on a rupee is recovered from B's estate.The amount of deficiency to be recorded on insolvency in books of b will be .please guys show me the steps too?
Most Upvoted Answer
A draws a bill on BBC for 50000 for 3 months later. At maturity the bi...
It's simple first add the noting charges i.e, 50000+500=50500
Then it is said that 40 paise is recovered from B's estate Therefore 60 paise is irrecoverable.
Calculate the amount with the irrecoverable amt
calculations are as follows:
Noting charge = 50000+500= 50500
Recovered amt = 50500×60% = 30300
Then it is said that 40 paise is recovered from B's estate Therefore 60 paise is irrecoverable.
Calculate the amount with the irrecoverable amt
calculations are as follows:
Noting charge = 50000+500= 50500
Recovered amt = 50500×60% = 30300
Community Answer
A draws a bill on BBC for 50000 for 3 months later. At maturity the bi...
Deficiency to be Recorded on Insolvency in Books of B
Step 1: Calculation of Total Amount Due
The total amount due on the bill can be calculated by adding the face value of the bill (i.e., Rs. 50,000) and the noting charges (i.e., Rs. 500.40).
Total Amount Due = Rs. 50,000 + Rs. 500.40 = Rs. 50,500.40
Step 2: Calculation of Amount Recovered from B's Estate
As per the given information, 40 paisa on a rupee is recovered from B's estate. This means that B's estate has paid only 40% of the total amount due.
Amount Recovered from B's Estate = 40% of Rs. 50,500.40
= Rs. (40/100) x 50,500.40
= Rs. 20,200.16
Step 3: Calculation of Deficiency
The deficiency is the amount that remains unpaid by B's estate. It can be calculated by subtracting the amount recovered from B's estate from the total amount due.
Deficiency = Total Amount Due - Amount Recovered from B's Estate
= Rs. 50,500.40 - Rs. 20,200.16
= Rs. 30,300.24
Therefore, the deficiency to be recorded on insolvency in the books of B will be Rs. 30,300.24.
Step 1: Calculation of Total Amount Due
The total amount due on the bill can be calculated by adding the face value of the bill (i.e., Rs. 50,000) and the noting charges (i.e., Rs. 500.40).
Total Amount Due = Rs. 50,000 + Rs. 500.40 = Rs. 50,500.40
Step 2: Calculation of Amount Recovered from B's Estate
As per the given information, 40 paisa on a rupee is recovered from B's estate. This means that B's estate has paid only 40% of the total amount due.
Amount Recovered from B's Estate = 40% of Rs. 50,500.40
= Rs. (40/100) x 50,500.40
= Rs. 20,200.16
Step 3: Calculation of Deficiency
The deficiency is the amount that remains unpaid by B's estate. It can be calculated by subtracting the amount recovered from B's estate from the total amount due.
Deficiency = Total Amount Due - Amount Recovered from B's Estate
= Rs. 50,500.40 - Rs. 20,200.16
= Rs. 30,300.24
Therefore, the deficiency to be recorded on insolvency in the books of B will be Rs. 30,300.24.
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A draws a bill on BBC for 50000 for 3 months later. At maturity the bill returned dishonored noting charges 500.40 paisa on a rupee is recovered from B's estate.The amount of deficiency to be recorded on insolvency in books of b will be .please guys show me the steps too?
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A draws a bill on BBC for 50000 for 3 months later. At maturity the bill returned dishonored noting charges 500.40 paisa on a rupee is recovered from B's estate.The amount of deficiency to be recorded on insolvency in books of b will be .please guys show me the steps too? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about A draws a bill on BBC for 50000 for 3 months later. At maturity the bill returned dishonored noting charges 500.40 paisa on a rupee is recovered from B's estate.The amount of deficiency to be recorded on insolvency in books of b will be .please guys show me the steps too? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A draws a bill on BBC for 50000 for 3 months later. At maturity the bill returned dishonored noting charges 500.40 paisa on a rupee is recovered from B's estate.The amount of deficiency to be recorded on insolvency in books of b will be .please guys show me the steps too?.
A draws a bill on BBC for 50000 for 3 months later. At maturity the bill returned dishonored noting charges 500.40 paisa on a rupee is recovered from B's estate.The amount of deficiency to be recorded on insolvency in books of b will be .please guys show me the steps too? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about A draws a bill on BBC for 50000 for 3 months later. At maturity the bill returned dishonored noting charges 500.40 paisa on a rupee is recovered from B's estate.The amount of deficiency to be recorded on insolvency in books of b will be .please guys show me the steps too? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A draws a bill on BBC for 50000 for 3 months later. At maturity the bill returned dishonored noting charges 500.40 paisa on a rupee is recovered from B's estate.The amount of deficiency to be recorded on insolvency in books of b will be .please guys show me the steps too?.
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A draws a bill on BBC for 50000 for 3 months later. At maturity the bill returned dishonored noting charges 500.40 paisa on a rupee is recovered from B's estate.The amount of deficiency to be recorded on insolvency in books of b will be .please guys show me the steps too?, a detailed solution for A draws a bill on BBC for 50000 for 3 months later. At maturity the bill returned dishonored noting charges 500.40 paisa on a rupee is recovered from B's estate.The amount of deficiency to be recorded on insolvency in books of b will be .please guys show me the steps too? has been provided alongside types of A draws a bill on BBC for 50000 for 3 months later. At maturity the bill returned dishonored noting charges 500.40 paisa on a rupee is recovered from B's estate.The amount of deficiency to be recorded on insolvency in books of b will be .please guys show me the steps too? theory, EduRev gives you an
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