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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 11th July 2016, 4:49 PM
Answered by 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 Expert 11th July 2016, 6:49 PM
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