Average due date

Accountancy

In Illustration 11 while calculating interest by average due date system why we are taking the base date as 1st july we should take 28th feb only na?

Lathika

CA Inter

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07-May-22 14:29

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Answers (7)

From both bills payable and receivable the common date is 1stJuly so for easy calculation it is preferred. Institute assumed in every problem feb has 28 days:)

Sugam SM

CA Final

★ 9K+

07-May-22 14:32

In exam you do as per leap year to be on safer side

Sugam SM

CA Final

★ 9K+

07-May-22 14:32

Sorry its not bills it's drawings

Sugam SM

CA Final

★ 9K+

07-May-22 14:33

Thank you. To make the sum easy we r taking 1st july, my doubt is if we take 28th feb as base dateis it crt

Thread Starter

Lathika

CA Inter

★ 6K+

07-May-22 14:35

Yes

Sugam SM

CA Final

★ 9K+

07-May-22 14:36

But you will complicate yourself

Sugam SM

CA Final

★ 9K+

07-May-22 14:38

Ok Thank you so much

Thread Starter

Lathika

CA Inter

★ 6K+

07-May-22 14:41