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A draws a bill on B of Rs150000 for 3 months. At maturity, the bill returned dishonoured , noting charges Rs. 1500. 40 paisa in a rupee is recovered from B's estate. The amount of deficiency to be recorded on insolvency in the books of B would be: A. 60600 B. 90900 c. 58400 D. 57000
Replies (3)
Option B 90900 , deficiency amount.
Why we are taking closing stock in trading account ????? Closing stock is of real nature and trading account contains only nominal nature of accounts..... Plz reply...
Rahul Gupta: thank you for your help but I want to know the logic behind the answer!
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