Manohar drew a bill of exchange on Pushkar, his debtor, for ₹20,000 on 1st March,2018 for 3 months. Pushkar accepted the same and returned it to drawer. Manohar endorsed the bill to Yadav on 1st April,2019 for a debt of equal amount. Yadav discounted it with the bank at 15% p.a on 1st?

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Manohar drew a bill of exchange on Pushkar, his debtor, for ₹20,000 on 1st March,2018 for 3 months. Pushkar accepted the same and returned it to drawer. Manohar endorsed the bill to Yadav on 1st April,2019 for a debt of equal amount. Yadav discounted it with the bank at 15% p.a on 1st?

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Q.2 Manohar drew a bill of exchange on Pushkar, his debtor, for ₹20,000 on 1st March,2018 for 3 months. Pushkar accepted the same and returned it to drawer. Manohar endorsed the bill to Yadav on 1st April,2019 for a debt of equal amount. Yadav discounted it with the bank at 15% p.a on 1st May, 2 / 2 2018. On the due date the bill was dishonoured (noting charges amounted?

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Ram ratan sold goods to ahmed for ₹100000 on 30th june 2017 for which latter accepts 4 bills of ₹25,000 each drawn on him payable after 2,4,6,8 months respectively. Ram ratan retained the first bill. The second bill was sent by him for collection .The third bill was endorsed by him to C in Part payment of ₹40000 owed to him. The fourth bill was discounted by him with his bankers at discount of 15% p.a.The first bill was met on due date .As regards second bill ,Ahmed met Ram Ratan two days before maturity date of bill and paid him ₹10,000 and accepted a fresh bill for 30 days for balance with interest @18%p.a. This bill as well as the third bill were met by drawer. Ahmed was declared insolvent on 31st December 2017 and on fourth bill becoming due, bank debited Ram ratan with amount of bill and changes of ₹2500 .It is ascertained by Ram ratan that estate of ahmed will not be in position to meet liabilities to an extent of more than 40%.What will be the journal entries to be made in the books of Ram ratan to record the above transactions?

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Ram ratan sold goods to ahmed for ₹100000 on 30th june 2017 for which latter accepts 4 bills of ₹25000 each drawn on him payable after 2,4,6,8 months respectively. Ram ratan retained the first bill .The second bill was sent by him for collection. The third bill was endorsed by him to C in Part payment of ₹40000 owed to him .The fourth bill was discounted by him with his bankers at discount of 15%p.a. The first bill was met on due date .The first bill was met on due date .As regards second bill ,Ahmed met Ram Ratan two days before maturity date of bill and paid him ₹10000 and accepted a fresh bill for 30 days for balance with interest 18% p.a.This bill as well as the third bill were met by drawer.ahmed was declared insolvent on 31 st December 2017 and on fourth bill becoming due, bank debited Ram ratan with amount of bill and changes of ₹2500 .It is ascertained by Ram ratan that estate of ahmed will not be in a position to meet liabilities to extent of of more than 40%?

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On 1st January 2018 ,P draws a three months bill of exchange for ₹30,000 on his debtors who accepts it on same date. P discounts bill on 4th January 2018 with his bankers ,discount rate being 15%p.a.On due date ,bill is dishonoured, the noting charges being ₹200 .Q immediately makes an offer to P to pay him ₹10000 cash on account to settle the balance by agreeing to accept one bill of exchange for ₹12000 at one month and the other for balance at three months , the latter including interest at 12%p.a. for the bills .P accepts the arrangement. The bill for ₹12000 is met on the due date but the other bill is dishonoured. Show Q's account and bills receivable account in books of P?

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8. GOURU and GAYAANI were friends and in need of funds. On 1st April,2015 Gouru drew a bill for Rs. 2,00,000 for three months on ?Gyani. On 4.4.15 Gouru got the bill discounted at 15% per annum and remitted half of the proceeds to Gyani. On the due date, Gyani could not meet the bill, instead, Gouru accepted Gyani’s bill for Rs.1,20,000 on 4th July,2015 for two months. This was discounted by Gyani at 15% per annum and out this Rs. 19,500 was paid to Gouru after deducting Rs.500 discounting charges. Due to financial crises, Gouru became insolvent and the bill drawn on him was dishonoured and his estate paid 40% Days of grace for discount purposes maybe ignored. (i). Give journal entries and (ii). Prepare Gyani’s Account-in the books of Gouru Related: ICAI Notes 7.1 - Bills of Exchange & Promissory Notes (Part - 4)?

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Manohar drew a bill of exchange on Pushkar, his debtor, for ₹20,000 on 1st March,2018 for 3 months. Pushkar accepted the same and returned it to drawer. Manohar endorsed the bill to Yadav on 1st April,2019 for a debt of equal amount. Yadav discounted it with the bank at 15% p.a on 1st? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Manohar drew a bill of exchange on Pushkar, his debtor, for ₹20,000 on 1st March,2018 for 3 months. Pushkar accepted the same and returned it to drawer. Manohar endorsed the bill to Yadav on 1st April,2019 for a debt of equal amount. Yadav discounted it with the bank at 15% p.a on 1st? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Manohar drew a bill of exchange on Pushkar, his debtor, for ₹20,000 on 1st March,2018 for 3 months. Pushkar accepted the same and returned it to drawer. Manohar endorsed the bill to Yadav on 1st April,2019 for a debt of equal amount. Yadav discounted it with the bank at 15% p.a on 1st?.

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Here you can find the meaning of Manohar drew a bill of exchange on Pushkar, his debtor, for ₹20,000 on 1st March,2018 for 3 months. Pushkar accepted the same and returned it to drawer. Manohar endorsed the bill to Yadav on 1st April,2019 for a debt of equal amount. Yadav discounted it with the bank at 15% p.a on 1st? defined & explained in the simplest way possible. Besides giving the explanation of Manohar drew a bill of exchange on Pushkar, his debtor, for ₹20,000 on 1st March,2018 for 3 months. Pushkar accepted the same and returned it to drawer. Manohar endorsed the bill to Yadav on 1st April,2019 for a debt of equal amount. Yadav discounted it with the bank at 15% p.a on 1st?, a detailed solution for Manohar drew a bill of exchange on Pushkar, his debtor, for ₹20,000 on 1st March,2018 for 3 months. Pushkar accepted the same and returned it to drawer. Manohar endorsed the bill to Yadav on 1st April,2019 for a debt of equal amount. Yadav discounted it with the bank at 15% p.a on 1st? has been provided alongside types of Manohar drew a bill of exchange on Pushkar, his debtor, for ₹20,000 on 1st March,2018 for 3 months. Pushkar accepted the same and returned it to drawer. Manohar endorsed the bill to Yadav on 1st April,2019 for a debt of equal amount. Yadav discounted it with the bank at 15% p.a on 1st? theory, EduRev gives you an ample number of questions to practice Manohar drew a bill of exchange on Pushkar, his debtor, for ₹20,000 on 1st March,2018 for 3 months. Pushkar accepted the same and returned it to drawer. Manohar endorsed the bill to Yadav on 1st April,2019 for a debt of equal amount. Yadav discounted it with the bank at 15% p.a on 1st? tests, examples and also practice CA Foundation tests.

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