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Question
Give word/term or phrase for the following statement:
Note issued by seller on receipt of defective goods from customer.
Solution
Note issued by seller on receipt of defective goods from customer. - Credit Note
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RELATED QUESTIONS
Answer the following question in one sentence:
What is Subsidiary Books?
Give word/term or phrase for the following statement:
A bank account which the businessman prefer to open.
Give word/term or phrase for the following statement:
Name the account which encourages personal savings.
Give word/term or phrase for the following statement:
A note issued by buyer to seller giving full details of goods returned.
Give word/term or phrase for the following statement:
Name the bank account on which overdraft facility is given to Account holder.
Select the most appropriate answer from the alternatives given below and rewrite the sentence:
Sub-division of the journal is known as ______ book.
Complete the following sentence:
Cash Book is a ______ Journal.
Correct the following sentences and rewrite the same:
Small and large business records all transaction in subsidiary books.
Prepare proper Subsidiary Books and post them to the ledger from the following transactions for the month of February 2018.
| 2018 February | Amt (₹) | |
| 01 | Goods sold to Virat | 5,000 |
| 04 | Purchased goods from Khushboo Traders | 2,480 |
| 06 | Sold goods to Shankar Traders | 2,100 |
| 07 | Virat returned goods | 600 |
| 08 | Returns goods to Khusboo Traders | 280 |
| 10 | Sold goods to Mahesh | 3,300 |
| 14 | Purchased from Kunti Traders | 5,200 |
| 15 | Furniture purchased from Arun | 3,200 |
| 17 | Bought goods from Kunti Traders | 4,060 |
| 20 | Return goods to Kunti Traders | 200 |
| 22 | Return goods from Mahesh | 250 |
| 24 | Purchased goods from Kirti less 10% T.D. | 5,700 |
| 25 | Sold goods to Shri Surya goods less 5% T.D. | 6,600 |
| 26 | Sold goods to Prakash Brothers | 4,000 |
| 28 | Return goods to Kirti less 10% T.D. | 1,000 |
| 28 | Prakash Brothers returned goods | 500 |
Enter the following transactions in the Subsidiary Book of Kamal Traders.
2018 April
01 Bought from Suhas goods of ₹ 12,000 as per his Invoice No. 41.
04 Purchased from Virat goods of ₹ 11,870 less 10% Trade Discount vide Bill No. 12.
07 Bought from Kuldip goods of ₹ 11,000 less 25% Trade Discount vide Bill No. 12.
08 Bought from M/s. Art Furniture Works, Furniture for ₹ 13,000 vide Invoice No. 84.
12 Sold to Dhiraj goods of ₹ 11,500 vide Sales Invoice No. 27
13 Sold to Raja goods of ₹ 12,780 less 5% Trade Discount, vide invoice No. 88
21 Sold to Suresh goods of ₹ 8,000 less 20% Trade Discount
23 Dhiraj returned goods of ₹ 500 vide our Credit note No. 14
26 Suresh returned goods of ₹ 150 (gross) vide our Credit Note No. 115
28 Returned to Suhas goods ₹ 1,200 vide our Debit Note No. 09
30 Returned to Virat goods of ₹ 1,300 (Gross) vide our Debit Note No. 10.
30 Returned to Kuldip goods of ₹ 1,100 (Gross) vide our Debit Note No. 11.
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.
