Promissory Note
Sana Ahmed Promissory Note: Learning Objectives: Define and explain promissory note. Definition and Explanation: There is another method of payment similar to bill of exchange i.e., promissory note. In this method, in…
Retiring of a Bill of Exchange
Abida Rehman Retiring of a Bill of Exchange: Learning Objectives: Make journal entries in the books of drawer and drawee when a bill of exchange is retired before it maturity. Definition and…
Renewal of a Bill of Exchange
Renewal of a Bill of Exchange: Learning Objectives: Make journal entries in the books of drawer and acceptor when the original bill is cancelled and a new bill is drawn…
Insolvency of Acceptor in Bills of Exchange
Shamsa Rafique Insolvency of Acceptor in Bills of Exchange: Learning Objectives: How the matter is treated in accounting for bills of exchange when the drawee becomes insolvent? Insolvency of a person means…
Recording Transactions of Bill of Exchange
Recording Transactions of Bill of Exchange: For the purpose of accounting, bills are classified under two heads: Bills receivable Bills payable Bills Receivable: A bill of exchange is treated as…
Drawing, Acceptance, and Payment of Bills of Exchange
Drawing, Acceptance, and Payment of Bills of Exchange: Learning Objectives: Make journal entries in the books of creditor and debtor at the time of drawing, acceptance, and payment of a…
Dishonour of a Bill of Exchange
Learning Objectives: Make journal entries when a bill of exchange is dishonoured by the drawee. Definition and Explanation: A bill of exchange is said to be dishonored when the drawee…
Discounting a Bill of Exchange
Discounting a Bill of Exchange: Learning Objectives: Make journal entries in the books of creditor and debtors at the time of discounting of bill of exchange. If the holder of…
Difference Between Bill of Exchange and Cheque/Check
Difference Between Bill of Exchange and Cheque/Check: Learning Objectives: What is the difference between bill of exchange and cheque/check? Check Bill of Exchange It is drawn on a banker It…
Difference Between Bill of Exchange and Promissory Note
Difference Between Bill of Exchange and Promissory Note: Learning Objectives: What is the difference between bill of exchange and promissory note? A bill of exchange differs from a promissory note…
Advantages of Bills of Exchange
Sidra Farid Learning Objective: What are the main advantages of bills of exchange? The following are the advantages of a bill of exchanges: It is a legal evidence of debt. It is…
How a Bill of Exchange Functions
How a Bill of Exchange Functions: In order to fully grasp the transactions relating to bill of exchange we thoroughly learn the procedure. The following example will make it clear.…
Bill of Exchange for Collection
Bill of Exchange for Collection: Learning Objectives: Make journal entries in the books of creditor, debtor, and that of bank when a bill of exchange is sent to the bank…
Definition and Explanation of Bill of Exchange
Rubab Ali Definition and Explanation of Bill of Exchange: A bill of exchange has been defined as an unconditional order in writing addressed by one person to another; signed by the person…
Accounting For Bills of Exchange
Accounting For Bills of Exchange: Learning Objectives: Define and explain bills of exchange. What are its advantages? How does a bill differ from a promissory note? How a bill of…
Endorsement of Bill of Exchange
Endorsement of Bill of Exchange: Learning Objectives: What are the journal entries in the books of drawer, acceptor and endorsee when a bill of exchange is endorsed by the drawer?…
Accommodation Bills of Exchange
Accommodation Bills of Exchange: Learning Objectives: Define and explain an accommodation bill of exchange. What is the difference between trade bill and an accommodation bill? Make journal entries in the…