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CBSE Class 11-commerce Answered

Record the following transactions in the return inward book and return outward books, post them to the respective ledger accounts for the month of November 2016. 1 M/s Sunder returned 600 Shirts for being defective @ Rs.1,100 per shirt.   Less: Trade discount @5% 3 Returned to M/s Ajay 400 Trousers as they were not as per the order placed @ Rs.800.   Less: Trade Discount @10% 13 Returned to M/s Sonali 300 T-shirt because of low quality @ Rs.450.   Less: Trade Discount @10% 18 Returned by M/S Seema 560 T-shirts for not delivering it on time @ Rs.450.   Less: Trade Discount @5% 23 M/s Ruhan returned 225 Trousers @ Rs.800 which was purchased for cash. 29 M/s Ruhi was returned the Shirts for being defective @ Rs.1,100 which was purchased for cash.    
Asked by Topperlearning User | 11 Jul, 2016, 04:49: PM
answered-by-expert Expert Answer

In the Books of _______________

Returns Inward Book

Date

Particulars

Credit Note No.

L.F.

Details

Rs. 

Amount

Rs. 

2016

 

 

 

 

 

Nov 1

M/s Sunder

 

 

 

 

 

Returned 600 Shirts for being defective (600*1100)

 

 

6,60,000

 

 

Less: Trade Discount@ 5%

 

 

33,000

6,27,000

Nov 18

M/S Seema 

 

 

 

 

 

Returned 560 T-shirts for not delivering it on time (560*450)

 

 

2,52,000

 

 

Less: Trade Discount @5%

 

 

12,600

2,39,400

Nov 30

Returns Inward A/c Dr.

 

 

 

8,66,400

 

Returns Outward Book

Date

Particulars

Debit Note No.

L.F.

Details

Rs. 

Amount

Rs. 

2016

 

 

 

 

 

Nov 3

M/s Ajay

 

 

 

 

 

400 Trousers returned as they were not as per the order placed (400*800)

 

 

3,20,000

 

 

Less: Trade Discount @10%

 

 

32,000

2,88,000

Nov 13

M/s Sonali 

 

 

 

 

 

350 T-shirt returned because of low quality (300*450)

 

 

1,35,000

 

 

Less: Trade Discount @10%

 

 

13,500

1,21,500

Nov 30

Returns Outward A/c Cr.

 

 

 

4,09,500

 

M/s Sunder

Dr. Cr.
Answered by | 11 Jul, 2016, 06:49: PM
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