Bill Of Exchange CBSE Questions & Answers

Kamal sold goods to Rahul to the value of Rs. 10000 drawing upon him a bill for the amount payable 3 months after date. Rahul accepted the bill returned it to Kamal. On due date Kamal presented the bill to Rahul who honored it What will be the Journal entry in the books of Kamal when the bill honoured

Naman received from Manik an acceptance for Rs. 3000 on 1st September 2012 at 3 months. Naman got the acceptance discounted at 9 % p.a from the bank. On the due date Manik paid the required amount. Calculate the amount of discount

Naman received from Manik an acceptance for Rs.3000 on 1st September 2012 at 3 months. Naman got the acceptance discounted at 9 % p.a from the bank. On the due date Manik paid the required amount. What will be the journal entry in the books of Manik when bill of exchange being given to Naman

A bill of 12000 was discounted by B with the banker for Rs.11880. At maturity the bill returned dishonored, noting charges Rs. 20. How much amount will the bank deduct from B bank balance at the time of such discount

On 1st Jan 2013 B sold goods to A for Rs.250. A gave to B his acceptance payable 1 month after date. Before maturity A request B to renew it which B does adding Rs.10 to the new Bill for interest. What will be the journal entry in the books of B when bill cancelled for renewal

On 1st Jan 2013 B sold goods to A for Rs. 250. A gave to B his acceptance payable 1 month after date. Before maturity A request B to renew it which B does adding Rs.10 to the new Bill for interest. What will be the journal entry when new boo drawn on A in place of old bill duly accepted by A

A sold goods to B for Rs. 100000. B paid cash Rs.30000. A will grant 2 % discount on balance and B request A to draw a bill for balance , the amount of bill will be

On 01.01.2012 A draws a bill on B for Rs.50000 for 3 months. A got the bill discounted 04.01.2012 at 12 % rate. The amount of discount on bill will be

X draws a bill on Y for Rs.20000 for 3 months on 01.01.2012. The bill is discounted with the banker at a charge of Rs. 100. At maturity the bill returned dishonored. In the books of X for dishonor the bank account will be credited by

On 01.01.2013 A draws a bill on B for Rs. 10000. At maturity B request A to renew the bill for 2 month at 12 % p.a interest. Amount of interest will be

M draws a bill on N for Rs.3000.M endorsed to P.N will pay the amount of bill to

On 01.01.2012 A draws a bill on B for 3 months for Rs. 10000 on 04.03.2012 B pays the bill to A at 12 % discount the amount of discount will be

On 01.01.2012 X draws a bill on Y for Rs.30000 At maturity Y request X to draw a fresh bill for 2 months together with 12 % p.a interest .Noting charges Rs.100 .The amount of interest will be

Ram sold goods to Shyam for Rs. 400000.Half of the amount will be received in cash and balance in B/R. For amount X should draw the bill on Y

Rohit acceptance to Deepak for Rs.8000 renewed at 3 months on the condition that 4000 be paid in cash immediately and the remaining amount will carry interest @ 12 % p.a . The amount of interest will be