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Bill of Exchang...

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  • Question 1
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    X draws a bill of exchange of Y for $$Rs. 20,000$$ payable in $$4$$ months. On the due date Y could not make the payment and requested X to renew a fresh bill for another three months at $$12$$% interest p.a. The amount of fresh bill will be ____________.

  • Question 2
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    R draws a bill of exchange on S for $$Rs. 8,000$$ for $$4$$ months. He got it discounted with a Bank at $$12$$% p.a. The net proceeds to be received from bank will be _______.

  • Question 3
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    A draws a bill of exchange of $$Rs. 2500$$ on B for $$4$$ months on $$2nd$$ February. The due date of the bill of exchange will be ___________.

  • Question 4
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    At the time of retirement of a bill a exchange, the drawee credit ___________.

  • Question 5
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    Noting fee means __________.

  • Question 6
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    ABC Ltd. had a networking capital of Rs. $$500,000$$ on 31.12.08, if an a bill outstanding amounting to Rs. $$50,000$$ is paid in cash, the working capital of ABC Ltd. will be _______

  • Question 7
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    L of Lucknow consigned goods costing Rs.60,000 to A of Allahabad at an invoice price bearing 33.1/3 mark up on the cost price. Goods costing Rs.15,000 were damaged in the transit and the insurance company admitted the claim in full. Expenses incurred by the consigner on loading and transportation of the goods amounted to Rs.1800. The consignee incurred Rs.200 on cartage and Rs.6000 as Godown Rent and sold 2/3 of the goods received by him at the invoice price. He is entitled to 5% normal commission and 2.5% delcredere commission. Find the value of goods sold

  • Question 8
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    In question No.25 above find the total profit on consignment if the consignee expenses amounted to Rs.8000

  • Question 9
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    From the following details estimated net debtors. 
    Debtors as on 31.03.09 Rs. $$800000$$
    Bill received includes B/R Rs. $$10,000$$ returned dishonoured
    Included in the debtors Rs. $$6000$$ being amount due from the proprietor for his personal expenses paid by the firm
    Debtors includes Rs. $$5000$$ due from $$S$$ who has been declared insolvent and a final dividend of $$0.25$$ in a rupees is likely to be realized from his estate. The firm intends to make $$5$$% provision for doubtful debts

  • Question 10
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    Which of these account is not a nominal A/c 

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