Author: Shubham

Question No 24 Chapter No 13 Insolvency of the Acceptor 24. On 1st July, 2018, X sold goods to Y for Rs 75,000 plus IGST 12%. X received from Y Rs 9,000 in cash and drew a bill on him Read More …

Question No 23 Chapter No 13 Insolvency of the Acceptor 23. On 1st August,2017 Pradeep drew a bill on Raju for Rs 75,000 for 3 months. This was for the amount which Raju owed to Pradeep. On Aug. 4,2017 Pradeep Read More …

Question No 22 Chapter No 13 Insolvency of the Acceptor 22. A sells goods for Rs 8,000 to B on Jan 1, 2017 and on the same date draws a bill for 3 months on the latter for the amount. Read More …

Question No 21 Chapter No 13 Insolvency of the Acceptor 21. On July 1,2017 Amita draws a b on Ramlakhan for Rs 10,000 payable after three months for goods sold of the same amount. Amita gets the bill discounted with Read More …

Question No 20 Chapter No 13 Three Bills of Exchange 20. A sold goods to B on 30th October, 2016 for Rs 14,000 and received three bills for Rs 2,000, Rs 4,000 and Rs 8,000 at 2,3 months duration respectively. Read More …

Question No 19 Chapter No 13 Three Bills of Exchange 19. On 1st Jan. 2017, Satish drew on Harish three bills of exchange in full settlement of claims the first for Rs 14,000 at one months; the second for Rs Read More …

Question No 18 Chapter No 13 Dishonour of bill discounted from the Bank 18. A sold goods to B for Rs 60,000 charging IGST @18% and immediately drew a bill on B who duly accepted the same. A endorsed the Read More …

Question No 17 Chapter No 13 Dishonour of bill discounted from the Bank 17. Pass Journal entries for the following transaction:- Discharged our acceptance to Ghanshyam & Co. for Rs 5,000 by a cheque of Rs 1,500 and a new Read More …

Question No 16 Chapter No 13 Dishonour of bill discounted from the Bank 16. X draws upon y a bill of Rs 10,000 for three months on 1st July 2017. the bill was duly accepted and returned by y, on Read More …