SHREE SAMARTH CLASSES

An eye on Quality
Sub:- B.K. (Bill of Exchange)
TIME: 1.30 hrs

MARKS 30

Q.1 A) Fill in the blanks

5 Marks
1) There are ______ parties to a bill of exchange.
2) The acceptor is allowed ________days of grace to meet the bill in time.
3) The party which is ordered to pays the amount of bill is known as _________.
4) The person in whose favour a bill is endorsed is known as__________
5) A one month bill drawn and accepted on 31st January 80 will become due on ______.
B) Prepare Specimen of bill of exchange.
5 Marks
Parag Gandhi Road Washim, draws a bill of exchange for Rs 4,800/- at 40 days on 16 th
April, 1984. Pankaj, MainRoad, Kopargoan accepts the bill on 20th April 1984.
Q.2. Sagar owes siddhu Rs 8,000. Sagar accepted a bill for 3 months drawn by siddhu for
Rs. 8,000 siddhu discounted the bill with the bank at Rs 7,800 On the due date the bill
was dishonoured. Noting charges amounted to Rs 20. Sagar paid half the amount of bill
and full amount of noting charges and accepted for the balance including interest Rs100.
pass journal entries and show the account of sagar in the book of siddhu.
10 Marks
Q.3. Kale sold goods to Gore for Rs.3,000. Kale drew a bill of Rs.3,000 on gore for 3
months. Gore Approached Kale with request for renewal of bill. Kale agreed his request
with condition that he should pay Rs.800 in cash and should accept a fresh bill for
balance including interest Rs.60 these arrangements were carried through the new bill
was retired for Rs.2250. Pass journal entries in the books of kale.
10 Marks
OR
Q.3. Journalise the following transaction in the books of Trupati
a) Kalias inform Trupati that Ameets acceptance for Rs.1000 endorsed to him, has been
dishonoured noting charges amounted Rs.40.
b) Vilas renews his acceptance to Trupati for Rs.800/- by paying Rs.400/- in cash and
accepting a fresh bill for the balance plus interest at 12 p.a % for 3 month
c) Kalpanas acceptance to Tirupati for Rs.6000 retired one month before due date at a
discount of 10% p.a.
d) Bank informs Tirupati the dishonor of Kavitas acceptance of Rs 2,500/- discounted
with Bank and Noting charges Rs.50/10 Marks

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