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Prepare a specimen of Bill of Exchange from the following information:-
- Drawer - Shri Mahesh Patil, Plot No. 25, "Ganesh Nivas" Mahesh Nagar, Koregaon.
- Drawee - Shri Vijay Jadhav, "Saket" M.G. Road, Pune 11.
- Payee - Shri Sanjay Bornare, Vaijapur.
- Period of Bill - 60 days
- Date of Bill - 16th March, 2013
- Amount of Bill - Rs. 15000
- Date of Acceptance - 20th March, 2013
Concept: Examples on Bills of Exchange
Prepare a specimen of Bill of Exchange from the following information:-
- Drawer - Shri Mahesh Patil, Plot No. 25, "Ganesh Nivas" Mahesh Nagar, Koregaon.
- Drawee - Shri Vijay Jadhav, "Saket" M.G. Road, Pune 11.
- Payee - Shri Sanjay Bornare, Vaijapur.
- Period of Bill - 60 days
- Date of Bill - 16th March, 2013
- Amount of Bill - Rs. 15000
- Date of Acceptance - 20th March, 2013
Concept: Examples on Bills of Exchange
Concept: Examples on Bills of Exchange
Concept: Examples on Bills of Exchange
On due date, Pradhan finds himself unable to make payment of the bill and requests Raja to renew it. Raja accepted a proposal on the condition that, Pradhan should pay Rs. 1,000 on account along with interest Rs. 250 in cash and should accept new bill for the balance at 2 months. These arrangements were carried through. Afterwards, one month before due date of new bill Pradhan retired his acceptance by paying Rs. 4,850.
Give Journal entries in the books of Raja of Nagpur.
Concept: Examples on Bills of Exchange
On due date, Pradhan finds himself unable to make payment of the bill and requests Raja to renew it. Raja accepted a proposal on the condition that, Pradhan should pay Rs. 1,000 on account along with interest Rs. 250 in cash and should accept new bill for the balance at 2 months. These arrangements were carried through. Afterwards, one month before due date of new bill Pradhan retired his acceptance by paying Rs. 4,850.
Give Journal entries in the books of Raja of Nagpur.
Concept: Examples on Bills of Exchange
Bank account is debited when a bill is sent to the bank for collection.
Concept: Necessity of Bill of Exchange (Only Trade Bill)
Concept: Examples on Bills of Exchange
Concept: Examples on Bills of Exchange
A bill which is drawn in one country and made payable in other country is called __________.
Concept: Examples on Bills of Exchange
A bill which is drawn in one country and made payable in other country is called __________.
Concept: Examples on Bills of Exchange
From the following information prepare a format of a Bill of Exchange:
| (1) Drawer | – | Mr Avadhoot Raktade |
| 586, Main Road, Ajara | ||
| (2) Drawee | – | Mr Mukund Aglawe |
| 133, Chandni Chowk, Panvel | ||
| (3) Amount | – | Rs. 8,800 |
| (4) Period | – | Two months |
| (5) Date of Bill | – | 1st May, 2010 |
| (6) Date of Acceptance | – | 5th May, 2010 |
Concept: Examples on Bills of Exchange
From the following information prepare a format of a Bill of Exchange:
| (1) Drawer | – | Mr Avadhoot Raktade |
| 586, Main Road, Ajara | ||
| (2) Drawee | – | Mr Mukund Aglawe |
| 133, Chandni Chowk, Panvel | ||
| (3) Amount | – | Rs. 8,800 |
| (4) Period | – | Two months |
| (5) Date of Bill | – | 1st May, 2010 |
| (6) Date of Acceptance | – | 5th May, 2010 |
Concept: Examples on Bills of Exchange
The person who endorses bill.
Concept: Examples on Bills of Exchange
The person who endorses bill.
Concept: Examples on Bills of Exchange
Drawer and payee of a bill of exchange may be one and the same person.
Concept: Examples on Bills of Exchange
Drawer and payee of a bill of exchange may be one and the same person.
Concept: Examples on Bills of Exchange
(a) On 1st January, 2010, Sameer informs Vivek that Mahesh's acceptance for Rs 32,000 endorsed to Sameer has been dishonoured. Noting charges Rs 800.
(b) On 1st February, 2010, Subhash renews his acceptance to Vivek for Rs 30,000 by paying Rs 14,000 in cash and accepting fresh bill for the balance plus interest @ 10% p.a. for 3 months.
(c) On 5th February, 2010, Dinesh retired his acceptance to Vivek for Rs 12,000 by paying Rs 11,600 in cash.
(d) On 1st March, 2010 Vivek sent a bill of Sohan for Rs 20,000 to Bank for collection. Bank informed that the bill has been dishonoured by Sohan.
Concept: Examples on Bills of Exchange
(a) On 1st January, 2010, Sameer informs Vivek that Mahesh's acceptance for Rs 32,000 endorsed to Sameer has been dishonoured. Noting charges Rs 800.
(b) On 1st February, 2010, Subhash renews his acceptance to Vivek for Rs 30,000 by paying Rs 14,000 in cash and accepting fresh bill for the balance plus interest @ 10% p.a. for 3 months.
(c) On 5th February, 2010, Dinesh retired his acceptance to Vivek for Rs 12,000 by paying Rs 11,600 in cash.
(d) On 1st March, 2010 Vivek sent a bill of Sohan for Rs 20,000 to Bank for collection. Bank informed that the bill has been dishonoured by Sohan.
Concept: Examples on Bills of Exchange
(a) Nandini informs Avadhoot that Nisha's acceptance for Rs. 5,000 endorsed to Nandini has been dishonoured. Noting charges amounted to Rs. 100.
(b) Dhanashri renews her acceptance to Avadhoot for Rs. 2,400 by paying Rs. 1,200 in cash and accepting a new bill for the balance plus interest at 12% p.a. for 3 months.
(c) Honagekar's acceptance to Avadhoot Rs. 6,000 retired one month before its due date at a discount of 20% p.a.
(d) Bank informs to Avadhoot that the dishonour of Shashikala's acceptance for Rs. 4,000 discounted with the bank. Noting charges amounted to Rs. 70.
(e) Avadhoot sent a bill of Pravin for Rs. 6,000 to the bank for collection.
Concept: Examples on Bills of Exchange
