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BILLS OF EXCHANGE WORK SHEET .

1 DAVID THOMAS
FOUR CASES OF BILLS OF EXCHANGE
1. On 1 July 2003 X sold goods to Y Rs.15,000. Y Paid Rs.5,000 and agreed for a Bills
Payable after 4 months. On due date bill paid. Pass Journals
2. On 1 Oct A drew on B for Rs.30,000 payable after 3 months. On 1 Nov A discounted
with banker at 10% .p.a On due date bill paid. Pass Journals
3. P sold goods to Q on 1 Apr for Rs.40,000, TD 10% Q paid Rs.5,500 and P drew bill
for Rs.30,000 as full settlement payable 4 months . P endorsed to R on due date bill
paid. Pass Journals in P, Q & R
4. D sold goods to E for Rs.50,000 and drew bill on him payable after 4 months. D sent
Bill for collection to bank.On due date bill is paid. Pass Journals
WHEN THE BILLS DISHONOURED
1. On 1 Feb X sold goods to Y for Rs.60000.X drew on Y payable after 3 months . On
the due bill dishonoured and noting charges Paid Rs.100.
Pass Journals in the books of X and Y
2. On 1 Aug A sold goods to B and received the bill from B for Rs. 8,000 payable after
2 months . A discounted the bill at discount Rs.150 with bank . On due date bill
dishonoured noting charges Rs.200 paid.
Pass Journals in the books of A and B
3. Ram sold goods to Sam on 1 May for Rs.80000. TD 10%. Sam paid Rs.2000 and
agreed for A bill payable after 2 months . Ram endorsed bill to Mohan. On the due
date bill dishonoured, Noting Charges Rs.100 paid. Pass Journals in the books of
Ram and Sam .
4. On 1 Sep, X sold goods to M for Rs. 20,000 and drew bill for the same payable after
3 months .X sent Ms bill to bank for collection . On due date bill dishonoured and
Noting Charges Rs.150 paid . Pass Journals in the books of X and M .
H W FOR BILLS DISHONOURED
1. On 1 Apr 2012 A sold goods to B 30000 and drew bill payable after 3 months . On
due date bill dishonoured. Noting Charges Rs.300 paid
2. On 1 July 2012 X sold goods to Y and received the bill for Rs. 8,000. X discounted
with his bankers Rs 8000 worth of bill for 7,500 on due date bill dishonoured, Noting
Charges 100 paid.
3. On 1st April 2013 X sold goods to Y for Rs. 70,000 and received bill for the same
payable after 3 months .X endorsed the bill to Z 70,000. On the due date bill
dishonoured. Noting Charges paid 250.
4. B sold goods to A for Rs, 30,000 and drew a bill for 4 months on 1st Oct 2012
B sent it for collection to bank .On due to date bill dishonoured. Noting Charges
Rs. 300 paid.
Pass Journals in both books