Debit & Credit for Purchase & Sales Return

Q.

Goods worth Rs 1, 00, 000 were sold to Piyush on credit. He returned the goods of the value of Rs 50, 000. Whose account shall be credited & with what amount in this case?

1. Sales return account with Rs 50, 000

2. Piyush`s account with Rs 1, 00, 000

3. Piyush`s account with Rs 50, 000

4. Sales return account with Rs 1, 00, 000

Q. Goods returned by Ram shall be posted on ___ .

1. Debit side of Ram`s account
2. Debit of Sales Return account
3. Debit of Sales account
4. Debit of bank account

Q.

Sales return account is always ___.

1. Debited

2. Credited

3. Either A or B

4. None of the above

Q.

When goods are returned by customer, which account is debited?

1. Purchase

2. Sales

3. Sales return

4. Purchase return

Q.

Return of goods to the supplier should be credited to ___.

1. Customer`s account

2. Purchase Return Account

3. Purchases Account

4. Cash account

Q.

Khan bought goods worth Rs 5, 000 less 20% trade discount on credit from Aziz. Later he found out that out of these goods 50% are defective & hence he returned the same. How shall this transaction of return of goods appear in ledger of Aziz in the books of Khan ?

1. Debit of Rs 4, 000

2. Credit of Rs 5, 000

3. Credit of Rs 4, 000

4. Debit of Rs 2, 000

Q. When goods are returned by customers, account is debited.

1. purchase return
2. sales return
3. purchase
4. sales

Q.

What is the reason for the formation of lightning in a thunderstorm?

1. Accumulation of charges in clouds

2. Low presure at high altitude

3. Heavy rain

4. Cyclone