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Question
From the following information, prepare purchase day book and purchases returns book for the month of June, 2017 and post them into ledger accounts in the books of Robert Furniture Mart.
| 2017 | Particulars |
| June 1 | Purchased from Balu Traders 20 chairs @ ₹ 150 each on credit |
| June 13 | Bought from Subash & Co., on credit |
| 2 Almirah @ ₹ 3,100 each | |
| 10 tables @ ₹ 1,500 each | |
| 15 chairs @ ₹ 200 each | |
| Less: 10 % Trade discount on all items | |
| Add: Freight charges ₹ 220 | |
| June 21 | Returned 2 damaged chairs to Balu Traders and cash not received |
| June 24 | Purchased from Sunrise Furniture Mart on credit |
| 25 Almirahs @ ₹ 1,300 each | |
| June 27 | Purchased from Mouli Traders on credit |
| 10 executive tables @ ₹ 3,275 each | |
| June 29 | Returned 3 Almirahs to Sunrise Furniture Mart and cash not received |
Solution
In the books of Robert Furniture Mart
Purchases book
| Date | Particulars | Invoice No. | L.F. | Amount ₹ | |
| Details | Total | ||||
| 2017 | |||||
| June 1 | Balu Traders | ||||
| 20 chairs @ ₹ 150 each | 3,000 | 3,000 | |||
| June 13 | Subash & Co. | ||||
| 2 Almirah @ ₹ 3,100 each | 6,200 | ||||
| 10 tables @ ₹ 1,500 each | 15,000 | ||||
| 15 chairs @ ₹ 200 each | 3,000 | ||||
| 24,200 | |||||
| Less: Trade discount 10% | 2,420 | ||||
| 21,780 | |||||
| Add: Freight charges | 220 | 22,000 | |||
| June 24 | Sunrise Furniture Mart | ||||
| 25 Almirahs @ ₹ 1,300 each | 32,500 | 32,500 | |||
| June 27 | Mouli Traders | ||||
| 10 executive tables @ ₹ 3,275 each | 32,750 | 32,750 | |||
| Purchases A/c ........Dr. | 90,250 | ||||
In the books of Robert Furniture Mart
Purchases Return book
| Date | Particulars | Invoice No. | L.F. | Amount ₹ | Remarks | |
| Details | Total | |||||
| 2017 | ||||||
| June 21 | Balu Traders | |||||
| 2 chairs @ ₹ 150 each | 300 | 300 | Due to damage | |||
| June 29 | Sunrise Furniture Mart | |||||
| 3 Almirahs @ ₹ 1,300 each | 3,900 | 3,900 | Due to cash not received | |||
| Purchase Returns A/c ........Cr. | 4,200 | |||||
Ledger Accounts
Purchase A/c
Dr. Cr.
| Date | Particulars | J.F. | Amount ₹ | Date | Particulars | J.F. | Amount ₹ |
| 2017 | 2017 | ||||||
| June 30 | To Sundry creditors | 90,250 | June 30 | By Balance c/d | 90,250 | ||
| 90,250 | 90,250 | ||||||
| July 1 | To Balance b/d | 90,250 |
Balu Traders A/c
Dr. Cr.
| Date | Particulars | J.F. | Amount ₹ | Date | Particulars | J.F. | Amount ₹ |
| 2017 | 2017 | ||||||
| June 21 | To Purchase return A/c | 300 | June 1 | By Purchase A/c | 3,000 | ||
| June 30 | To Balance c/d | 2,700 | |||||
| 3,000 | 3,000 | ||||||
| July 1 | By balance b/d | 2,700 |
Sunrise Furniture Mart A/c
Dr. Cr.
| Date | Particulars | J.F. | Amount ₹ | Date | Particulars | J.F. | Amount ₹ |
| 2017 | 2017 | ||||||
| June 29 | To Purchase return A/c | 3,900 | June 24 | By Purchase A/c | 32,500 | ||
| June 30 | To Balance c/d | 28,600 | |||||
| 32,500 | 32,500 | ||||||
| July 1 | By balance b/d | 28,600 |
Subash & Co. A/c
Dr. Cr.
| Date | Particulars | J.F. | Amount ₹ | Date | Particulars | J.F. | Amount ₹ |
| 2017 | 2017 | ||||||
| June 30 | To Balance c/d | 22,000 | July 13 | By Purchase A/c | 22,000 | ||
| 22,000 | 22,000 | ||||||
| July 1 | By balance b/d | 22,000 |
Mouli Traders A/c
Dr. Cr.
| Date | Particulars | J.F. | Amount ₹ | Date | Particulars | J.F. | Amount ₹ |
| 2017 | 2017 | ||||||
| June 30 | To Balance c/d | 32,750 | June 27 | By Purchase A/c | 32,750 | ||
| 32,750 | 32,750 | ||||||
| July 1 | By balance b/d | 32,750 |
Ledger Accounts
Purchase Return A/c
Dr. Cr.
| Date | Particulars | J.F. | Amount ₹ | Date | Particulars | J.F. | Amount ₹ |
| 2017 | 2017 | ||||||
| June 30 | To Balance c/d | 4,200 | June 30 | By Sundry creditors | 4,200 | ||
| 4,200 | 4,200 | ||||||
| July 1 | By balance b/d | 4,200 |
APPEARS IN
RELATED QUESTIONS
Purchase returns book is used to record _____________.
What is purchases returns book?
What is a debit note?
From the following information, prepare the necessary subsidiary books for Nalanda Book Stores.
| 2017 | Particulars |
| Dec. 1 | Bought from M/s. Uma Devi on credit |
| 100 copies Business Statistics Book @ ₹ 80 each | |
| 100 copies Accountancy Book @ ₹ 150 each | |
| Dec. 7 | Sold to Sridevi & Co., on credit |
| 240 copies Business Statistics @ ₹ 90 each | |
| 250 copies Accountancy books @ ₹ 170 each | |
| Dec. 10 | Bought from Subha & Co., |
| 40 Copies Economics books @ ₹ 80 each | |
| Less: 15% Trade Discount | |
| Dec. 15 | Returned to M/s. Uma Devi 10 copies of damaged Accountancy book for which cash is not received |
| Dec. 18 | Sold to Gupta Bros., on credit |
| 200 copies of Economics book @ ₹ 95 each | |
| Dec. 26 | Returned 6 copies of Economics books to Subha & Co., |
Prepare a purchases return (journal) book from the following transactions for April 2017.
| 2017 April |
₹ |
|
|
05 |
Returned goods to M/s Kartik Traders |
1,200 |
|
10 |
Goods returned to Sahil Pvt. Ltd. |
2,500 |
|
17 |
Goods returned to M/s Kohinoor Traders for list price ₹ 2,000 less 10% trade discount. |
|
|
28 |
Return outwards to M/s Handa Traders |
550 |
Prepare proper subsidiary books and post them to the ledger from the following transactions for the month of February 2017:
|
2017 February |
|
₹ |
|
01 |
Goods sold to Sachin |
5,000 |
|
04 |
Purchase from Kushal Traders |
2,480 |
|
06 |
Sold goods to Manish Traders |
2,100 |
|
07 |
Sachin returned goods |
600 |
|
08 |
Returns to Kushal Traders |
280 |
|
10 |
Sold to Mukesh |
3,300 |
|
14 |
Purchased from Kunal Traders |
5,200 |
|
15 |
Furniture purchased from Tarun |
3,200 |
|
17 |
Bought of Naresh |
4,060 |
|
20 |
Return to Kunal Traders |
200 |
|
22 |
Return inwards from Mukesh |
250 |
|
24 |
Purchased goods from Kirit and Co. for list price of |
5,700 |
|
|
less 10% trade discount |
|
|
25 |
Sold to Shri Chand goods |
6,600 |
|
|
less 5% trade discount |
|
|
26 |
Sold to Ramesh Brothers |
4,000 |
|
28 |
Return outwards to Kirit and Co. |
1,000 |
|
|
less 10% trade discount |
|
|
28 |
Ramesh Brothers returned goods ₹ 500. |
