Tag Archives: Trade discount

Bill of Exchange Important Question 8 for I.Com Part 1

Bill of Exchange Important Question 8 for I.Com Part 1 Y sells goods to Z for Rs.2000 and draws a bill on Z for 3 months, which he accepts and returns it to Y. One month before its maturity, Z retires the bill under a rebate of 6% p.a. Pass journal entries in the books of Y and Z. Solution …

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Bill of Exchange Important Question 6 for I.Com Part 1

Bill of Exchange Important Question 6 for I.Com Part 1 Karim sold goods to Bashir for Rs. 5,000 and drew a bill upon him for three months for the amount. Bashir accepted and returned it to Karim, who discounted the bill with his banker at 6% per annum. On the due date bill was honored. Solution KARIM’S JOURNAL Bashir account                                   …

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What is Trade Discount?

What is Trade Discount? A discount on the retail price of something allowed or agreed between traders or to a retailer by a wholesaler. Or A discount that often varies by customer. For example, a company may sell its products to a variety of resellers. Some of the resellers might buy $1 million of products each year, other resellers might …

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Objective Type Questions for Principle of Accounting I.Com Part 1 (k)

Objective Type Questions for Principle of Accounting I.Com Part 1 (k)

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Objective Type Questions for Principle of Accounting I.Com Part 1 (g)

Objective Type Questions for Principle of Accounting I.Com Part 1 (g)

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Objective Type Questions for Principle of Accounting I.Com Part 1 (e)

Objective Type Questions for Principle of Accounting I.Com Part 1 Test 5

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