Tag: advantages of bill of exchange
Questions Related to advantages of bill of exchange
Bills receivable discounted but not done till the date of final accounts is shown in ___________.
A draws an accommodation bill on B. The proceeds are to be shared by A and B in the ratio of 3:1. The amount of bill is Rs. 6,000, discounting charges Rs. 100. Discount borne by A will be ________.
For mutual accommodation of A and B, B accepted a bill drawn on him by A for 2 months Rs. 12,000. The said bill is discounted at 12% p.a and remitted 1/3rd of the proceeds to B. The amount remitted by A to B will be _________.
Mr Bobby sold goods worth Rs. $25,000$ to Mr Bonny. Bonny immediately accepted a bill on $1.11.01$, payable after $2$ months. Bobby discounted this bill @ $18\%$ p.a. on $15.11.01$. On the due date Bonny failed to discharge the bill. Later on Bonny became insolvent and $50$ paise in a rupee is recovered from Bombay's estate. How much amount of bad debt will be recorded in the books of Bobby.
A draws a bill on B for Rs. 6,000 for mutual accommodation in the ratio 2:1, A got it discounted Rs. 5,800 and remitted 1/3rd of the proceeds to B. At the time of maturity, how much amount A should remit to B so that B can pay off the bill?
A drew a bill on B for Rs. $50,000$ for $3$ months. Proceeds are to be shared equally. A got the bill discounted at $12\%$ p.a. and remits required proceeds to B. The amount of such remittance will be.
X sold goods to Y for $ 2,00,000 $ Y paid cash 50,000. X will grant 2% discount on balance, and Y requests X to draw a bill for balance, the amount of bill will be:
Noting is necessary in case of __________ of bill.
Which of these accounts is debited by a drawee of a bill of exchange on its discounting?
Ram drew a bill on Shyam for Rs. 4,500 for mutual accommodation in the ratio 2:1. Shyam accepted the bill and returned to Ram. Ram discounted the bill for Rs. 4,230 and remitted 1/3rd proceeds to Shyam. Before the due date, not having funds to meet the bill, Shyam drew a bill on Ram for Rs. 6,300 on the same terms as to mutual accommodation. The second bill was discounted for Rs. 6,120. The first bill was honoured on the due date and a net amount of Rs. 1,080 was remitted to Ram by Shyam. What will be the proportionate discount charged on the second bill to be borne by Ram?