Question

12. Prepare Swami's account from the following: 2018 January 2 Amount due to Swami 12,000 8 Goods purchased from Swami * 16,000 15 Goods returned to Swami *5,000 20 Cash paid to Swami R 16,000 24 Goods purchased from Swami 39,000 30 Swami's account is settled by cheque with 10% discount​

Answer 1

Explanation:

paid 14400

discount received 1600

Answer 2

The Swami's Account has been prepared.

GIVEN: 2018 January 2 Amount due to Swami 12,000 8 Goods purchased from Swami * 16,000 15 Goods returned to Swami *5,000 20 Cash paid to Swami R 16,000 24 Goods purchased from Swami 39,000 30 Swami's account is settled by cheque with 10% discount​.
TO FIND: Swami's account
SOLUTION:

As we are given in the question,

The transactions that were made by a business firm with one of his customer Swami and his account shall be as follows:

   

                                        SWAMI'S ACCOUNT                                                                  

Date          Particulars            Amount      Date      Particulars        Amount

2018                                                            2018

15 Jan      To Purchase                             2 Jan   By balance b/d       12,000

                returns a/c                5,000     8 Jan    By Purchases a/c   16,000

20 Jan     To Cash A/c             16,000   24 Jan   By Purchases a/c    9,000

30 Jan     To Discount

                 received A/c            1,600

                To Bank A/c             14,400                                                                      

                                                  37,000                                                37,000  

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