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A and B enter into an accommodation arrangement where under the proceeds are to be shared 2/3 and 1/3 respectively. A draws bill for 9,000 on B on 2nd January 2023 for 3 months. A gets it discounted with the Central Bank of India for 8,820 on 3rd January 2023 and remits B's share to him, which B receives on 5th January 2023. On the due date B pays the bill though A fails to remit the amount due to the former. On 6th April, A accepts a bill for 12,600 drawn on him by B for 3 months, which B discounts on 7th April for 12,330 and remits 2,220 to A the next day. Before the maturity of the second bill, A becomes insolvent and only 50% was realised from his estate on 10th July, 2023eces?
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A and B enter into an accommodation arrangement where under the procee...
- **Accommodation Arrangement Details**
A and B share proceeds in the ratio 2/3 and 1/3 respectively. A draws a bill on B for 9,000 on 2nd January 2023 for 3 months. A discounts the bill with Central Bank of India for 8,820 on 3rd January 2023.
- **Transaction 1 Details**
A remits B's share of 2/3 of the discounted amount, which is 5,880 (8,820 * 2/3), to B on 5th January 2023. B receives the payment on the same day.
- **Transaction 2 Details**
On the due date, B pays the bill amount of 9,000 to the Central Bank of India. A fails to remit the amount due to B.
- **Second Bill Details**
On 6th April, A accepts a bill for 12,600 drawn on him by B for 3 months. B discounts the bill for 12,330 on 7th April and remits 2,220 (12,330 * 1/3) to A the next day.
- **Insolvency of A**
Before the maturity of the second bill, A becomes insolvent. Only 50% of the amount due is realized from A's estate on 10th July 2023.
- **Final Settlement**
The amount realized from A's estate is 50% of the second bill amount, which is 6,300 (12,600 * 50%). B will have a loss as he has already paid the first bill amount of 9,000 and received only 5,880 from A. So, B's loss will be 3,120 (9,000 - 5,880).
A and B share proceeds in the ratio 2/3 and 1/3 respectively. A draws a bill on B for 9,000 on 2nd January 2023 for 3 months. A discounts the bill with Central Bank of India for 8,820 on 3rd January 2023.
- **Transaction 1 Details**
A remits B's share of 2/3 of the discounted amount, which is 5,880 (8,820 * 2/3), to B on 5th January 2023. B receives the payment on the same day.
- **Transaction 2 Details**
On the due date, B pays the bill amount of 9,000 to the Central Bank of India. A fails to remit the amount due to B.
- **Second Bill Details**
On 6th April, A accepts a bill for 12,600 drawn on him by B for 3 months. B discounts the bill for 12,330 on 7th April and remits 2,220 (12,330 * 1/3) to A the next day.
- **Insolvency of A**
Before the maturity of the second bill, A becomes insolvent. Only 50% of the amount due is realized from A's estate on 10th July 2023.
- **Final Settlement**
The amount realized from A's estate is 50% of the second bill amount, which is 6,300 (12,600 * 50%). B will have a loss as he has already paid the first bill amount of 9,000 and received only 5,880 from A. So, B's loss will be 3,120 (9,000 - 5,880).
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A and B enter into an accommodation arrangement where under the proceeds are to be shared 2/3 and 1/3 respectively. A draws bill for 9,000 on B on 2nd January 2023 for 3 months. A gets it discounted with the Central Bank of India for 8,820 on 3rd January 2023 and remits B's share to him, which B receives on 5th January 2023. On the due date B pays the bill though A fails to remit the amount due to the former. On 6th April, A accepts a bill for 12,600 drawn on him by B for 3 months, which B discounts on 7th April for 12,330 and remits 2,220 to A the next day. Before the maturity of the second bill, A becomes insolvent and only 50% was realised from his estate on 10th July, 2023eces?
Question Description
A and B enter into an accommodation arrangement where under the proceeds are to be shared 2/3 and 1/3 respectively. A draws bill for 9,000 on B on 2nd January 2023 for 3 months. A gets it discounted with the Central Bank of India for 8,820 on 3rd January 2023 and remits B's share to him, which B receives on 5th January 2023. On the due date B pays the bill though A fails to remit the amount due to the former. On 6th April, A accepts a bill for 12,600 drawn on him by B for 3 months, which B discounts on 7th April for 12,330 and remits 2,220 to A the next day. Before the maturity of the second bill, A becomes insolvent and only 50% was realised from his estate on 10th July, 2023eces? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about A and B enter into an accommodation arrangement where under the proceeds are to be shared 2/3 and 1/3 respectively. A draws bill for 9,000 on B on 2nd January 2023 for 3 months. A gets it discounted with the Central Bank of India for 8,820 on 3rd January 2023 and remits B's share to him, which B receives on 5th January 2023. On the due date B pays the bill though A fails to remit the amount due to the former. On 6th April, A accepts a bill for 12,600 drawn on him by B for 3 months, which B discounts on 7th April for 12,330 and remits 2,220 to A the next day. Before the maturity of the second bill, A becomes insolvent and only 50% was realised from his estate on 10th July, 2023eces? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A and B enter into an accommodation arrangement where under the proceeds are to be shared 2/3 and 1/3 respectively. A draws bill for 9,000 on B on 2nd January 2023 for 3 months. A gets it discounted with the Central Bank of India for 8,820 on 3rd January 2023 and remits B's share to him, which B receives on 5th January 2023. On the due date B pays the bill though A fails to remit the amount due to the former. On 6th April, A accepts a bill for 12,600 drawn on him by B for 3 months, which B discounts on 7th April for 12,330 and remits 2,220 to A the next day. Before the maturity of the second bill, A becomes insolvent and only 50% was realised from his estate on 10th July, 2023eces?.
A and B enter into an accommodation arrangement where under the proceeds are to be shared 2/3 and 1/3 respectively. A draws bill for 9,000 on B on 2nd January 2023 for 3 months. A gets it discounted with the Central Bank of India for 8,820 on 3rd January 2023 and remits B's share to him, which B receives on 5th January 2023. On the due date B pays the bill though A fails to remit the amount due to the former. On 6th April, A accepts a bill for 12,600 drawn on him by B for 3 months, which B discounts on 7th April for 12,330 and remits 2,220 to A the next day. Before the maturity of the second bill, A becomes insolvent and only 50% was realised from his estate on 10th July, 2023eces? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about A and B enter into an accommodation arrangement where under the proceeds are to be shared 2/3 and 1/3 respectively. A draws bill for 9,000 on B on 2nd January 2023 for 3 months. A gets it discounted with the Central Bank of India for 8,820 on 3rd January 2023 and remits B's share to him, which B receives on 5th January 2023. On the due date B pays the bill though A fails to remit the amount due to the former. On 6th April, A accepts a bill for 12,600 drawn on him by B for 3 months, which B discounts on 7th April for 12,330 and remits 2,220 to A the next day. Before the maturity of the second bill, A becomes insolvent and only 50% was realised from his estate on 10th July, 2023eces? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A and B enter into an accommodation arrangement where under the proceeds are to be shared 2/3 and 1/3 respectively. A draws bill for 9,000 on B on 2nd January 2023 for 3 months. A gets it discounted with the Central Bank of India for 8,820 on 3rd January 2023 and remits B's share to him, which B receives on 5th January 2023. On the due date B pays the bill though A fails to remit the amount due to the former. On 6th April, A accepts a bill for 12,600 drawn on him by B for 3 months, which B discounts on 7th April for 12,330 and remits 2,220 to A the next day. Before the maturity of the second bill, A becomes insolvent and only 50% was realised from his estate on 10th July, 2023eces?.
Solutions for A and B enter into an accommodation arrangement where under the proceeds are to be shared 2/3 and 1/3 respectively. A draws bill for 9,000 on B on 2nd January 2023 for 3 months. A gets it discounted with the Central Bank of India for 8,820 on 3rd January 2023 and remits B's share to him, which B receives on 5th January 2023. On the due date B pays the bill though A fails to remit the amount due to the former. On 6th April, A accepts a bill for 12,600 drawn on him by B for 3 months, which B discounts on 7th April for 12,330 and remits 2,220 to A the next day. Before the maturity of the second bill, A becomes insolvent and only 50% was realised from his estate on 10th July, 2023eces? in English & in Hindi are available as part of our courses for UPSC.
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Here you can find the meaning of A and B enter into an accommodation arrangement where under the proceeds are to be shared 2/3 and 1/3 respectively. A draws bill for 9,000 on B on 2nd January 2023 for 3 months. A gets it discounted with the Central Bank of India for 8,820 on 3rd January 2023 and remits B's share to him, which B receives on 5th January 2023. On the due date B pays the bill though A fails to remit the amount due to the former. On 6th April, A accepts a bill for 12,600 drawn on him by B for 3 months, which B discounts on 7th April for 12,330 and remits 2,220 to A the next day. Before the maturity of the second bill, A becomes insolvent and only 50% was realised from his estate on 10th July, 2023eces? defined & explained in the simplest way possible. Besides giving the explanation of
A and B enter into an accommodation arrangement where under the proceeds are to be shared 2/3 and 1/3 respectively. A draws bill for 9,000 on B on 2nd January 2023 for 3 months. A gets it discounted with the Central Bank of India for 8,820 on 3rd January 2023 and remits B's share to him, which B receives on 5th January 2023. On the due date B pays the bill though A fails to remit the amount due to the former. On 6th April, A accepts a bill for 12,600 drawn on him by B for 3 months, which B discounts on 7th April for 12,330 and remits 2,220 to A the next day. Before the maturity of the second bill, A becomes insolvent and only 50% was realised from his estate on 10th July, 2023eces?, a detailed solution for A and B enter into an accommodation arrangement where under the proceeds are to be shared 2/3 and 1/3 respectively. A draws bill for 9,000 on B on 2nd January 2023 for 3 months. A gets it discounted with the Central Bank of India for 8,820 on 3rd January 2023 and remits B's share to him, which B receives on 5th January 2023. On the due date B pays the bill though A fails to remit the amount due to the former. On 6th April, A accepts a bill for 12,600 drawn on him by B for 3 months, which B discounts on 7th April for 12,330 and remits 2,220 to A the next day. Before the maturity of the second bill, A becomes insolvent and only 50% was realised from his estate on 10th July, 2023eces? has been provided alongside types of A and B enter into an accommodation arrangement where under the proceeds are to be shared 2/3 and 1/3 respectively. A draws bill for 9,000 on B on 2nd January 2023 for 3 months. A gets it discounted with the Central Bank of India for 8,820 on 3rd January 2023 and remits B's share to him, which B receives on 5th January 2023. On the due date B pays the bill though A fails to remit the amount due to the former. On 6th April, A accepts a bill for 12,600 drawn on him by B for 3 months, which B discounts on 7th April for 12,330 and remits 2,220 to A the next day. Before the maturity of the second bill, A becomes insolvent and only 50% was realised from his estate on 10th July, 2023eces? theory, EduRev gives you an
ample number of questions to practice A and B enter into an accommodation arrangement where under the proceeds are to be shared 2/3 and 1/3 respectively. A draws bill for 9,000 on B on 2nd January 2023 for 3 months. A gets it discounted with the Central Bank of India for 8,820 on 3rd January 2023 and remits B's share to him, which B receives on 5th January 2023. On the due date B pays the bill though A fails to remit the amount due to the former. On 6th April, A accepts a bill for 12,600 drawn on him by B for 3 months, which B discounts on 7th April for 12,330 and remits 2,220 to A the next day. Before the maturity of the second bill, A becomes insolvent and only 50% was realised from his estate on 10th July, 2023eces? tests, examples and also practice UPSC tests.
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