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CLASS – XI
ACCOUNTANCY

Home Assignment

1. ________ is the person upon whom the bill of exchange is drawn.
2. _______ is the maker of a bill of exchange.
3. When the bill is encased from the bank before its due date ________
4. The date which comes after adding three days of grace to the due date of a bill is
called ___________
5. Drawee is allowed three extra days after the due date of bill for making payments.

Such 3 days are known as ______________
th
6. If the bill is drawn on 4 feb for 3 months, the maturity date will be _____
th
7. If the bill is drawn on 12 may for 3 months, the maturity date will be _____
th
8. If the bill is drawn on 22 Oct for 2 months, the maturity date will be _____
th
9. If the bill is drawn on 9 feb for 3 months, the maturity date will be _____
10. When the bill is accepted by the debtor, drawer will debit ________ account
11. When the bill is accepted by the debtor, drawer will credit ________ account
12. When the bill is endorsed to creditor , drawer will debit ________ account
13. When the bill is endorsed to creditor, drawer will credit ________ account
14. Difference between Bills of Exchange & Promissory Note
15. On Jan 01, 2017 Shieba sold goods to Vishal for ` 10,000 and drew upon

him a bill of exchange for 2 months. Vishal accepted the bill and
returned it to Shieba. On the date of maturity the bill was dishonoured
by Vishal. Record the necessary entries in all the cases listed below in
the books of Shieba and Vishal:
Bill of Exchange
(i) When the bill kept by Shieba till its maturity;

(ii) When the bill is discounted by Shieba for ` 200;

(iii) When the bill is endorsed to Lal Chand by Shieba.