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…
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…
Conversion into Double Entry System
Conversion into Double Entry System: Learning Objectives: Define and explain conversion method. How trading and profit and loss account and balance sheet is prepared under conversion method. Conversion of books…
Bills Payable Book
Shamsa Rafique Bills Payable Book: Learning Objectives: Define and explain bills payable book. Prepare a bills payable book and post into ledger. Definition and Explanation: Bills payable book is used to record…