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Ram ratan sold goods to ahmed for ₹100000 on 30th june 2017 for which latter accepts 4 bills of ₹25,000 each drawn on him payable after 2,4,6,8 months respectively. Ram ratan retained the first bill. The second bill was sent by him for collection .The third bill was endorsed by him to C in Part payment of ₹40000 owed to him. The fourth bill was discounted by him with his bankers at discount of 15% p.a.The first bill was met on due date .As regards second bill ,Ahmed met Ram Ratan two days before maturity date of bill and paid him ₹10,000 and accepted a fresh bill for 30 days for balance with interest @18%p.a. This bill as well as the third bill were met by drawer. Ahmed was declared insolvent on 31st December 2017 and on fourth bill becoming due, bank debited Ram ratan with amount of bill and changes of ₹2500 .It is ascertained by Ram ratan that estate of ahmed will not be in position to meet liabilities to an extent of more than 40%.What will be the journal entries to be made in the books of Ram ratan to record the above transactions? 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 Ram ratan sold goods to ahmed for ₹100000 on 30th june 2017 for which latter accepts 4 bills of ₹25,000 each drawn on him payable after 2,4,6,8 months respectively. Ram ratan retained the first bill. The second bill was sent by him for collection .The third bill was endorsed by him to C in Part payment of ₹40000 owed to him. The fourth bill was discounted by him with his bankers at discount of 15% p.a.The first bill was met on due date .As regards second bill ,Ahmed met Ram Ratan two days before maturity date of bill and paid him ₹10,000 and accepted a fresh bill for 30 days for balance with interest @18%p.a. This bill as well as the third bill were met by drawer. Ahmed was declared insolvent on 31st December 2017 and on fourth bill becoming due, bank debited Ram ratan with amount of bill and changes of ₹2500 .It is ascertained by Ram ratan that estate of ahmed will not be in position to meet liabilities to an extent of more than 40%.What will be the journal entries to be made in the books of Ram ratan to record the above transactions? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Ram ratan sold goods to ahmed for ₹100000 on 30th june 2017 for which latter accepts 4 bills of ₹25,000 each drawn on him payable after 2,4,6,8 months respectively. Ram ratan retained the first bill. The second bill was sent by him for collection .The third bill was endorsed by him to C in Part payment of ₹40000 owed to him. The fourth bill was discounted by him with his bankers at discount of 15% p.a.The first bill was met on due date .As regards second bill ,Ahmed met Ram Ratan two days before maturity date of bill and paid him ₹10,000 and accepted a fresh bill for 30 days for balance with interest @18%p.a. This bill as well as the third bill were met by drawer. Ahmed was declared insolvent on 31st December 2017 and on fourth bill becoming due, bank debited Ram ratan with amount of bill and changes of ₹2500 .It is ascertained by Ram ratan that estate of ahmed will not be in position to meet liabilities to an extent of more than 40%.What will be the journal entries to be made in the books of Ram ratan to record the above transactions?.

Solutions for Ram ratan sold goods to ahmed for ₹100000 on 30th june 2017 for which latter accepts 4 bills of ₹25,000 each drawn on him payable after 2,4,6,8 months respectively. Ram ratan retained the first bill. The second bill was sent by him for collection .The third bill was endorsed by him to C in Part payment of ₹40000 owed to him. The fourth bill was discounted by him with his bankers at discount of 15% p.a.The first bill was met on due date .As regards second bill ,Ahmed met Ram Ratan two days before maturity date of bill and paid him ₹10,000 and accepted a fresh bill for 30 days for balance with interest @18%p.a. This bill as well as the third bill were met by drawer. Ahmed was declared insolvent on 31st December 2017 and on fourth bill becoming due, bank debited Ram ratan with amount of bill and changes of ₹2500 .It is ascertained by Ram ratan that estate of ahmed will not be in position to meet liabilities to an extent of more than 40%.What will be the journal entries to be made in the books of Ram ratan to record the above transactions? in English & in Hindi are available as part of our courses for CA Foundation. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.

Here you can find the meaning of Ram ratan sold goods to ahmed for ₹100000 on 30th june 2017 for which latter accepts 4 bills of ₹25,000 each drawn on him payable after 2,4,6,8 months respectively. Ram ratan retained the first bill. The second bill was sent by him for collection .The third bill was endorsed by him to C in Part payment of ₹40000 owed to him. The fourth bill was discounted by him with his bankers at discount of 15% p.a.The first bill was met on due date .As regards second bill ,Ahmed met Ram Ratan two days before maturity date of bill and paid him ₹10,000 and accepted a fresh bill for 30 days for balance with interest @18%p.a. This bill as well as the third bill were met by drawer. Ahmed was declared insolvent on 31st December 2017 and on fourth bill becoming due, bank debited Ram ratan with amount of bill and changes of ₹2500 .It is ascertained by Ram ratan that estate of ahmed will not be in position to meet liabilities to an extent of more than 40%.What will be the journal entries to be made in the books of Ram ratan to record the above transactions? defined & explained in the simplest way possible. Besides giving the explanation of Ram ratan sold goods to ahmed for ₹100000 on 30th june 2017 for which latter accepts 4 bills of ₹25,000 each drawn on him payable after 2,4,6,8 months respectively. Ram ratan retained the first bill. The second bill was sent by him for collection .The third bill was endorsed by him to C in Part payment of ₹40000 owed to him. The fourth bill was discounted by him with his bankers at discount of 15% p.a.The first bill was met on due date .As regards second bill ,Ahmed met Ram Ratan two days before maturity date of bill and paid him ₹10,000 and accepted a fresh bill for 30 days for balance with interest @18%p.a. This bill as well as the third bill were met by drawer. Ahmed was declared insolvent on 31st December 2017 and on fourth bill becoming due, bank debited Ram ratan with amount of bill and changes of ₹2500 .It is ascertained by Ram ratan that estate of ahmed will not be in position to meet liabilities to an extent of more than 40%.What will be the journal entries to be made in the books of Ram ratan to record the above transactions?, a detailed solution for Ram ratan sold goods to ahmed for ₹100000 on 30th june 2017 for which latter accepts 4 bills of ₹25,000 each drawn on him payable after 2,4,6,8 months respectively. Ram ratan retained the first bill. The second bill was sent by him for collection .The third bill was endorsed by him to C in Part payment of ₹40000 owed to him. The fourth bill was discounted by him with his bankers at discount of 15% p.a.The first bill was met on due date .As regards second bill ,Ahmed met Ram Ratan two days before maturity date of bill and paid him ₹10,000 and accepted a fresh bill for 30 days for balance with interest @18%p.a. This bill as well as the third bill were met by drawer. Ahmed was declared insolvent on 31st December 2017 and on fourth bill becoming due, bank debited Ram ratan with amount of bill and changes of ₹2500 .It is ascertained by Ram ratan that estate of ahmed will not be in position to meet liabilities to an extent of more than 40%.What will be the journal entries to be made in the books of Ram ratan to record the above transactions? has been provided alongside types of Ram ratan sold goods to ahmed for ₹100000 on 30th june 2017 for which latter accepts 4 bills of ₹25,000 each drawn on him payable after 2,4,6,8 months respectively. Ram ratan retained the first bill. The second bill was sent by him for collection .The third bill was endorsed by him to C in Part payment of ₹40000 owed to him. The fourth bill was discounted by him with his bankers at discount of 15% p.a.The first bill was met on due date .As regards second bill ,Ahmed met Ram Ratan two days before maturity date of bill and paid him ₹10,000 and accepted a fresh bill for 30 days for balance with interest @18%p.a. This bill as well as the third bill were met by drawer. Ahmed was declared insolvent on 31st December 2017 and on fourth bill becoming due, bank debited Ram ratan with amount of bill and changes of ₹2500 .It is ascertained by Ram ratan that estate of ahmed will not be in position to meet liabilities to an extent of more than 40%.What will be the journal entries to be made in the books of Ram ratan to record the above transactions? theory, EduRev gives you an ample number of questions to practice Ram ratan sold goods to ahmed for ₹100000 on 30th june 2017 for which latter accepts 4 bills of ₹25,000 each drawn on him payable after 2,4,6,8 months respectively. Ram ratan retained the first bill. The second bill was sent by him for collection .The third bill was endorsed by him to C in Part payment of ₹40000 owed to him. The fourth bill was discounted by him with his bankers at discount of 15% p.a.The first bill was met on due date .As regards second bill ,Ahmed met Ram Ratan two days before maturity date of bill and paid him ₹10,000 and accepted a fresh bill for 30 days for balance with interest @18%p.a. This bill as well as the third bill were met by drawer. Ahmed was declared insolvent on 31st December 2017 and on fourth bill becoming due, bank debited Ram ratan with amount of bill and changes of ₹2500 .It is ascertained by Ram ratan that estate of ahmed will not be in position to meet liabilities to an extent of more than 40%.What will be the journal entries to be made in the books of Ram ratan to record the above transactions? tests, examples and also practice CA Foundation tests.