Question

Purchased goods for 50,000 from Govind and sold it to Manohar for 65,000. Out of this Manohar returned goods worth 13,000, which in turn was returned to
Govind.

HINTS : purchase returns will be valued at rs 10,000.​

Answer 1

Explanation:

Purchases a/c dr.₹50,000

To Govind a/c cr. ₹50,000

Manohar a/c dr. ₹65,000

To sales a/c cr. ₹65,000

Purchases return a/c dr. ₹10,000

To Govind a/c cr. ₹10,000

Answer 2

Journal Entries

• Purchased goods for 50,000 from Govind

Purchase A/c Dr. Rs.50000

To Govind A/c. Rs.50000

• Sold it to Manohar for 65,000.

Manohar A/c. Dr. Rs.65000

To sales A/c. Rs.65000

• Out of this Manohar returned goods worth 13,000

Sales return A/c Dr. Rs.13000

To Manohar A/c. Rs.13000

• Goods costing was returned to Govind.

Govind A/c Dr. Rs.10000

To purchase return A/c. Rs.10000

Working note :

• If sale value Rs.65000 then cost value is 50000

If the sale value is Rs13000 then cost value is

→ 50000/65000 × 13000

→ Rs.10000

•°• Purchase return = Rs.10000

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