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Question
Enter the following transactions in the Subsidiary Books of Navyug Traders:
2018 March
01 Sold to Bharat Patil goods ₹ 10,000 at 10% Trade discount.
04 Purchased from Naresh goods of ₹ 11,000 less 10% Trade discount.
06 Purchased Furniture from M/s. Sham Furniture Works, of ₹ 15,000 for office use.
07 Bharat Patil returned 20% of the goods bought by him on 1st March above and we gave him fresh goods in exchange.
08 Sold to Sundar goods of ₹ 13,000 less 15% Trade Discount.
10 Sold to Sumit Computer for ₹ 23,800 with a book value of ₹ 24,000.
12 Placed an order with Sajan for goods of ₹ 12,000.
17 Purchased from Naresh goods of ₹ 14,000 and sold them to Kamesh for ₹ 16,000.
19 Kamesh returned us goods of ₹ 1,600 and immediately returned the same to Naresh.
23 Sold to Rakesh for ₹ 4,500 old Furniture with a book value of ₹ 4,800.
26 Returned to M/s. Sham Furniture Works, office Furniture of ₹ 4,500.
28 Sajan executed our order dated 12th March, 2018.
Solution
In the books of Navyug Traders
| Purchase Book | ||||
| Date | Name of Suppliers | Inward Invoice No. | L.F. | Amount (₹) |
| 2018 | ||||
| Mar. 4 | Naresh (11,000 1,100) | 9,900 | ||
| 17 | Naresh | 14,000 | ||
| 28 | Sajan | 12,000 | ||
| Total | 35,900 | |||
| Sales Book | ||||
| Date | Name of Customers | Outward Invoice No. | L.F. | Amount (₹) |
| 2018 | ||||
| Mar. 1 | Bharat Patil (10,000 - 1,000) | 9,000 | ||
| 8 | Sundar (13,000 - 1,950) | 11,050 | ||
| 17 | Kamlesh | 16,000 | ||
| Total | 36,050 | |||
| Purchase Return Book | ||||
| Date | Name of Suppliers | Debit Note No. | L.F. | Amount (₹) |
| 2018 Mar. 19 | Naresh | 1,400 | ||
| Total | 1,400 | |||
| Sales Return Book | ||||
| Date | Name of Customers | Credit Note No. | L.F. | Amount (₹) |
| 2018 Mar. 1 |
Bharat Patil (`9000 xx 20/100`) | 1,800 | ||
| Mar. 19 | Kamlesh | 1,600 | ||
| Total | 3,400 | |||
| Journal Proper | ||||
| Date | Particulars | L.F. | Debit (₹) | Credit (₹) |
| 2018 | ||||
| Mar. 6 | Furniture A/c ...Dr. | 15,000 | ||
| To M/s. Sham Furniture works A/c | 15,000 | |||
| (Being furniture purchased on credit) | ||||
| 10 | Sumit A/c ...Dr. | 23,800 | ||
| Loss on sale of Computer A/c ...Dr. | 200 | |||
| To Computer A/c | 24,000 | |||
| (Being computer sold on credit) | ||||
| 23 | Rakesh A/c ...Dr. | 4,500 | ||
| Loss on Sale of Furniture A/c ...Dr. | 300 | |||
| To Furniture A/c | 4,800 | |||
| (Being furniture sold on credit) | ||||
| 26 | M/s. Sham Furniture works A/c Dr. | 4,500 | ||
| To Furniture A/c | 4,500 | |||
| (Being office furniture returned) | ||||
| Total | 48,300 | 48,300 | ||
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