Dishonoured of Bill

 Dishonoured of Bill

 If a drawee fails to make the payment of the bill, such bill is called as " Dishonour of a Bill ".

Dishonour is also means cancellation of a old bill.

Notary Public

He is a person who is appointed by the government to look after the dishonour of the bill. The fees paid to the Notary public is called as " Noting Charges". Such fees are borne (paid) by the Drawee.

Bill Of Exchange

In a transaction of credit sale, seller becomes a creditor and buyer become a debtor. To avoid risk, creditor always take from debtor a written acknowledgement and a written promise to pay debts after a specified period. This written acknowledgement and promise together are called as “Bill of Exchange”. 

There are three parties to a bill of exchange.

1. Drawer:- He is a person who draws the bill. He is a creditor and he has to receive money from debtor. 

2. Drawee:- He is a person who accept the bill or Drawee is a person on whom the bill is drawn. He is a debtor and he has to pay the amount to drawer. After acceptance drawee become an acceptor. 

3. Payee:- He is a person to whom the amount of bill is payable. Payee may be a creditor of the drawer or payee may be drawer himself.

Features of Bills of Exchange 

1. It is a document in writing. 

2. It is signed by the Drawer. (A bill of exchange without the signature become invalid) 

3. It is Negotiable instrument. 

4. It should be dated and stamped. 

5. If it is drawn in Indian language is called “Hundies”.

Mere Sohneya Madine Wich Rehn waleya

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Kabe ki Ronak Kabe ka Manzar

SYJC OCM Test Result 2020

Name of the Students	Marks Out of 18
1. Saba bee Abdul Malik	13
2. Abdul Rehman Malik	09
3. P. Saranya	11
4. Shaikh Rashid Mehboob	10
5. Shaikh Bushra Shaukat ali	10
6. Amrin Tawqir Ahmed Khan	Absent

 

EID-E-MILAD UN NABI coming soon 2020 Status

Discount I Trade Discount and Cash Discount

Vertical Revenue Statement for the year ended______________

Particulars	Note no.	Rs.	Rs.
Income
1. Revenue from operation	16	Xxx
2. Other Income	17	Xxx	Xxxx
Expenses
1. Raw Material Consumed	18	Xxx
2. Purchase of stock in trade	19	Xxx
3. Change in inventories	20	Xxx
4. Employee Benefit Expenses	21	Xxx
5. Financial Cost	22	Xxx
6. Depreciation		Xxx
7. Other Expenses	23	xxx	(Xxx)
NET PROFIT BEFORE TAX			XXX
(-) Taxation (Current year)			(xxx)
(+) Excess provision of tax			Xxx
(-) Deficit in provision of tax			(xxx)
NET PROFIT AFTER TAX			XXX