Please wait...
Contact Us
Contact
Need assistance? Contact us on below numbers

For Enquiry

10:00 AM to 7:00 PM IST all days.

Business Inquiry (North)

Business Inquiry (West / East / South)

OR

or

Thanks, You will receive a call shortly.
Customer Support

You are very important to us

For any content/service related issues please contact on this number

022-62211530

Mon to Sat - 10 AM to 7 PM

Enter the following transactions in the purchase and purchase return books of M.G. Stores and post them to a ledger.

Oct, 2016

 

 

1st

Purchased goods worth Rs.2,30,000 at 5% trade discount from K.C. and Brothers.

4th

Purchased goods from K.G. Stores worth Rs.6,15,000 at 10% trade discount.

9th

Bought goods worth Rs.8,90,000 @ 12% trade discount from L.M. Stores.

13th

Returned goods to L.M. Stores Rs.1,02,000.

16th

Returned goods to Lalji and Co. Rs.3,02,000. Trade discount @10% was allowed when purchased.

17th

Returned goods to J.C. Ltd Rs.96,200 which was purchased for cash.

23rd

Returned goods to K.G. Stores Rs.2,95,000.

24th

Purchased goods from Pias and Co. worth Rs.9,20,000 and trade discount @ 5%.

27th

Return outward of goods to Mr. Salim Rs.1,09,200.

29th

Purchased goods from L.M. StoresRs.6,25,000 less trade discount 10%.

 

 

Asked by Topperlearning User 11th July 2016, 4:49 PM
Answered by Expert
Answer:

In the Books of M.G. Stores

Purchases Book

Date

Particulars

L.F.

Details

Rs. 

Amount

Rs. 

2016

 

 

 

 

Oct 1

K.C. and Brothers

 

 

 

 

Goods Purchased

 

2,30,000

 

 

Less: Trade discount 5%

 

11,500

2,18,500

Oct 4

K.G. Stores 

 

 

 

 

Goods Purchased

 

6,15,000

 

 

Less: Trade discount 10%

 

61,500

5,53,500

Oct 9

L.M. Stores 

 

 

 

 

Goods Purchased

 

8,90,000

 

 

Less: Trade discount 12%

 

1,06,800

7,83,200

Oct 24

Pias and Co. 

 

 

 

 

Goods Purchased

 

9,20,000

 

 

Less: Trade discount 12%

 

1,10,400

8,09,600

Oct 29

L.M. Stores  

 

 

 

 

Goods Purchased

 

6,25,000

 

 

Less: Trade discount 10%

 

62,500

5,62,500

Oct 31

Purchase A/c Dr.

 

 

29,27,300

 

Purchases Return Book

Date

Particulars

Debit Note No.

L.F.

Details

Rs. 

Amount

Rs. 

2016

 

 

 

 

 

Oct 13

L.M. Stores

 

 

 

 

 

Goods Returned

 

 

 <

Answered by Expert 11th July 2016, 6:49 PM
Rate this answer
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10

You have rated this answer /10

Your answer has been posted successfully!