what is bill receible
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Answer / hari
writeen promises received from the other traders for
selling goods is know ua bill receible
| Is This Answer Correct ? | 10 Yes | 1 No |
Answer / abdullah amer
bill receible is a subsidiary book which is used to record
the bills received from debtors.
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / b.narasimha rao
the goods sell on credit when the firs written the bill on
debitor and the debitor accepted the bill the amount paid
in future at specied time these called bill receible
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / dasappa.s
Bill receivable is an a written document drawn by an a
drawer to a drawee for an amount to be paid to an drawer by
drawee. It should duly written,signed and stamped
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / pradeep kumar
x supplied goods to y on credit basics for one month for
x it is a receivable it is called a bill receivable
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / sridhar
Total of credit sales is Bills receivables and it is a
subsidiary book.
| Is This Answer Correct ? | 0 Yes | 0 No |
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1. During the current period, ABC Ltd sold 60,000 units of product at Rs. 30 per unit. At the beginning for the period, there were 10,000 units in inventory and ABC Ltd manufactured 50,000 units during the period. The manufacturing costs and selling and administrative expenses were as follows: Total cost Number of units Unit cost Rs. Rs. Beginning inventory: Direct materials 67,000 10,000 6.70 Direct labour 1,55,000 10,000 15.50 Variable factory overhead 18,000 10,000 1.80 Fixed factory overhead 20,000 10,000 2.00 Total 2,60,000 26.00 Current period costs: Direct materials 3,50,000 50,000 7.00 Direct labour 8,10,000 50,000 16.20 Variable factory overhead 90,000 50,000 1.80 Fixed factory overhead 1,00,000 50,000 2.00 Total 13,50,000 27.00 Selling and administrative expenses: Variable 65,000 Fixed 45,000 Total 1,10,000 Instructions: 1. Prepare an income statement based on the variable costing concept. 2. Prepare an income statement based on the absorption costing concept. 3. Give the reason for the difference in the amount of income from operations in 1 and 2.
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