Question

Enter the following transactions in the Purchase Book, Sales Book, Purchase returne Book and Sales return Book of Bhushan Traders. (10) 2018 Nov 01 Purchased goods on credit from Rohit Traders for ₹ 20,000 and sold the same to Rohini Traders at a profit of 20% on cost. 04 Sold goods to Vinod Stores ₹ 9,000 @ 10% Trade Discount. 07 Placed an order with Surekha for goods of ₹ 10,000less 10% Trade Discount. 10 Purchased goods of ₹ 16,000 from Piyush stores and paid carriage ₹250. 13 Purchased Furniture from M/s Sharad Furniture works of ₹ 10,000 for office use. 16 Surekha executed our order placed on 7th Nov.2018. 20 Rohini traders returned goods of ₹ 3,000 as they were defective and the same were returned to Rohit Traders. 22 Sold goods of ₹ 16,000 on credit to Viraj & Sons @ 5% Trade Discount. 26 Sent a credit note to Vinod stores ₹ 2000 (gross). 28 Sent a debit note to Piyush Stores ₹ 1,500. 30 Sold goods to Vishal ₹ 10,000 for Cash. ​

Answer 1

Answer:

Enter the following transactions in the Purchase Book

Explanation:

Bought from M/s. Uma Datt, Mumbai, on credit:

1,000 Ragisters @ ₹ 80 each

50 Reams Paper @ ₹ 250 per ream

Less: Trade Discount 25%

Add: IGST @ 5%

Jan. 2 Sold to Shri Dayal, Bengaluru:

250 Registers @ ₹ 85 each

5 Reams paper @ ₹ 300 per ream

Charged CGST and SGST @ 2.5% each

Jan. 8 Bought from BILT, Delhi:

100 Reams Ruled Paper @ ₹ 600 per ream

Less: Trade Discount 15%

Plus IGST @ 5%

Jan. 12 Sold to Gupta Bros., Delhi:

250 Registers @ ₹ 85 each

50 Reams Ruled Paper @ 700 per ream

Less: Trade Discount 5%, charged IGST @ 5%

Jan. 18 Sold to Ram Saran Das:

20 copies Double Entry Book Keeping @ ₹ 85 each

Jan. 25 Bought from Hari Ram, Delhi:

1,000 pens @ ₹ 10 each

Less: Trade Discount 15%

Plus IGST @ 5%

Jan. 31 Sold to Rishi Kumar, Bengaluru:

300 Registers @ ₹ 90 each

50 Reams Ruled Paper @ ₹ 700 per ream

20 Reams Paper @ ₹ 300 per ream

Trade Discount 10%, charged CGST and SGST @ 2.5% each

buy :- In accounting, the term "buy" refers to shop for of goods wherein a enterprise deals in. purchase of goods may be either in cash or on credit.

✎ cash buy :- whilst goods are purchased by way of making charge in coins or by cheque, it's far known as coins buy.

✎ credit buy :- whilst goods are purchased on a circumstance that the fee could be made at a destiny date, it's far referred to as credit purchase.

✎ purchase Returns :- whilst a element or complete items bought with the aid of a business earlier are again to the provider for a few reasons, it's miles known as purchase Returns. buy Returns is also referred to as Returns Outward.

✎ internet purchase :- The distinction among general buy (such as both coins and credit purchase) made by means of a enterprise and purchase returns is referred to as net purchase.

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