2014 Rs. 4.400 Prepare Vamsis Account from the following Aug | Balarice due to vamsi I 5 5 Purchased goods from vama? R: 1,500 Vamsi Rs 10 Sold goods to vams? 13 Recived cheques from varmasi 17 Paid cash to Vam's 23 Vamsi returned goods 29 Purchased goods from vamsi Rs.500 Vamsi account Settled with 51. [Ans 그 900, Rs. 1,200 Rs. 1,000 Rs. 100 bood. Rs. 200 discount
Answers
Question : From the following information calculate the Amount to be paid to creditors
(Rs)
Sundry creditors as on March 31, 2005 1,80,425
Discount received 26,000
Discount allowed 24,000
Return outwards 37,200
Return Inward 32,200
Bills accepted 1,99,900
Bills endorsed to creditors 26,000
Creditors as on April 1, 2006 2,09,050
Total Purchase 8,97,000
Cash Purchase 1,40,000
Answer : For getting the figure of cash paid to creditors it would be appropriate to prepare the sundry creditor's account.
Dr Sundry Creditor's Account Cr.
Date Particulars JF Amt.(Rs) Date Particulars JF Amt. (Rs)
To Discount Received A/c 26,000 2005 Mar 31 By Balance b/d
By Purchase 1,80,425
To Return Outward 37,200 Credit Purchase only 7,57,000
To Bills
Payable A/c
1,99,000
To (Bills endorsed to Creditors) b/R 26,000
2006 Apr 1 To Balance c/d
2,09,050
To Cash A/c
Cash paid (b/f)
4,40,175
9,37,425 9,37,425
Working Note
Credit Purchase = Total Purchase - Cash Purchase
Credit Purchase = (8,97,000−1,40,000)=Rs.7,57,000
Amount Paid to Creditors = Rs4,40,175