HSC Admission of a partner Result FY 2021

Name of the Students	Marks Out of 20
1. Saba bee Abdul Malik	Absent
2. Abdul Rehman Malik	19
3. P. Saranya	13
4. Shaikh Rashid Mehboob	19
5. Shaikh Bushra Shaukat ali	Not Applicable
6. Amrin Tawqir Ahmed Khan	10

 

read more "HSC Admission of a partner Result FY 2021"

Insolvency of the Bill

 When a drawee become bankrupt is called Insolvency of a bill. In case of insolvency first pass dishonour entry.

Bad Debts:- An amount which is not recovered by the drawer from the drawee is called Bad debts. It is a loss to the drawer and profit to the drawee (Deficiency).

Insolvency of the Bill

Note:- First pass Dishonour Entry

In the Books of Drawer	In the Books of Drawee
Cash/Bank A/c Dr Bad debts A/c Dr            To Drawee A/c	Drawer A/c Dr             To Cash/Bank A/c             To Deficiency A/c

 

read more "Insolvency of the Bill"

Retirement of the Bill

When a drawee makes the payment before the due date is called Retirement of a bill. 

Retirement is also means early payment of the bill.

Rebate:- Rebate is one type of discount earned by drawee for making the early payment of the bill.

In the Books of “Drawer”	In the Books of “Drawee”
Cash/Bank A/c Dr Rebate A/c  Dr            To Bill Receivable A/c	Bill Payable A/c Dr               To Cash/Bank A/c               To Rebate A/c

 

read more "Retirement of the Bill"