Request a call back

Join NOW to get access to exclusive study material for best results

CBSE Class 11-commerce Answered

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 | 11 Jul, 2016, 04:49: PM
answered-by-expert 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 | 11 Jul, 2016, 06:49: PM
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 11 Jul, 2016, 04:49: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 11 Jul, 2016, 04:49: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 11 Jul, 2016, 04:49: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 11 Jul, 2016, 04:49: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 11 Jul, 2016, 04:49: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 11 Jul, 2016, 04:49: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 11 Jul, 2016, 04:49: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 11 Jul, 2016, 04:49: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 11 Jul, 2016, 04:49: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT