Questions_Rebate on Bills Discounted

Question : 1 The following is an extract from Trial Balance of overseas Bank as at 31st March, 2015 Bills discounted12,6,000 !e"ate on "ills discounted not due on March 31st, 20122,160 #iscount received1,05,$0% &n anal'sis of the "ills discounted during the 'ear is as follows( Amount Due Date)i*1,40,000June 514)ii*4,36,000June 12 14)iii* 2,82,000June 25 14)iv*4,06,000July 6 16+alculate !e"ate on Bills #iscounted as on 31,3,2015 and show necessar' -ournal entries. Question : 2 /n31stMarch,201,!B0Bankhada"alanceof!s.1croresin2re"ateon"ills discounted3account.#uringthe'earended31stMarch,2015,!B0Bankdiscounted "ills of exchange of !s. ,000 crores charging interest at 1%4 5er annum the average 5eriod of discount "eing for $3 da's. /f these, "ills of exchange of !s. 600 crores were due for realisation from the acce5tors6customers after 31st March, 2015, the average 5eriod outstanding after 31st March, 2015 "eing 36.5 da's. !B0 Bank asks 'ou to 5ass -ournal entries and show the ledger accounts 5ertaining to( (i) discounting of "ills of exchange and (ii) re"ate on "ills discounted. Question : 3 The following information is availa"le in the "ooks of 7 Bank 0imited as on 31st March, 2013( Particulars &mount in !s.Bills discounted !e"ate on Bills discounted )as on 1..2012* #iscount received 1,3$,05,000 2,21,600 10,56,650#etails of "ills discounted are as follows( 8alue of "ill)!s.*Due date!ate of #iscount 1%,25,0005.6.2013124 50,00,00012.6.2013124 2%,20,00025.6.201314 0,60,0006..2013164 Question : 4 9ollowing facts have "een taken out from the records of !eliance Bank in res5ectof the 'ear ending March 31, 2013( (a) /n1,,2012Billsforcollectionwere!s. $,00,000.#uring2012,2013 "illsreceivedfor collectionamountedto!s.6,50,000,"illscollectedwere!s.$,00,000and"ills dishonoured and returned were !s. 5,50,500. :re5are Bills for +ollection )&ssets* &6c and "ills for +ollection )0ia"ilit'* &6c. (!) /n 1,,2012, &cce5tance, ;ndorsement, etc. not 'et satis