Creditors on 1st April, 2017 were ₹15,000, Purchases on credit were ₹30,000, Cash paid to Creditors during 2017-18 was ₹20,000, Returns Outward (regarding credit purchases) were ₹1,000 and Bills Payable accepted during the year ₹10,000. Find the balance of Creditors on 31st March, 2018.

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Solution

Creditors Account

Dr.
Cr.

Particulars

Amount

(₹)

Particulars

Amount

(₹)

Cash A/c
20,000
Balance b/d
15,000

Purchases Return A/c
1,000
Purchases A/c
30,000

Bills Payable A/c
10,000

Balance c/d
14,000

45,000

45,000

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Q. Creditors on 1st April, 2018 were ₹ 15,000, Purchases on credit were ₹ 30,000, Cash paid to Creditors during 2018-19 was ₹ 20,000, Returns Outward (regarding credit purchases) were ₹ 1,000 and Bills Payable accepted during the year were ₹ 10,000. Find the balance of Creditors on 31st March, 2019.

Find out the credit purchases from the following:

	Rs
Balance of creditors April 01, 2016	45,000
Balance of creditors March 31, 2017	36,000
Cash paid to creditors	1,80,000
Cheque issued to creditors	60,000
Cash purchases	75,000
Discount received from creditors	5,400
Discount allowed	5,000
Bills payable given to creditors	12,750
Return outwards	7,500
Bills payable dishonoured	3,000
Bills receivable endorsed to creditors	4,500
Bills receivable endorsed to creditors dishonoured	1,800
Return inwards	3,700

Q. Find out the Credit Purchases from the details given below:

	₹
Balance of Creditors on 1st April 2018	32,000
Balance of Creditors on 31st March, 2019	46,000
Cash paid to Creditors	2,20,000
Cheques issued to Creditors	60,000
Purchases Returns	10,000
Discount received from Creditors	6,600
Cash Purchases	1,15,000
B/P accepted	16,000
B/P dishonoured	2,000
B/R endorsed to Creditors	7,000
Endorsed B/R dishonoured	3,000

If creditors balance was Rs. 1,000 on 1st Jan 2018 and Rs. 2,000 on 31st Dec. 2018 and a payment of Rs. 500 was made to creditors, what is the amount of credit purchases made during the year 2018?

Q. From the following information calculate the amount to be paid to creditors:

	Rs
Sundry creditors as on March 31, 2017	1,80,425
Discount received	26,000
Discount allowed	24,000
Return outwards	37,200
Return inward	32,200
Bills accepted	1,99,000
Bills endorsed to creditors	26,000
Creditors as on April 01, 2016	2,09,050
Total purchases	8,97,000
Cash purchases	1,40,000

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Creditors Account
Dr.			Cr.
Particulars	Amount (₹)	Particulars	Amount (₹)
Cash A/c	20,000	Balance b/d	15,000
Purchases Return A/c	1,000	Purchases A/c	30,000
Bills Payable A/c	10,000
Balance c/d	14,000

	45,000		45,000

Creditors on 1st April, 2017 were ₹15,000, Purchases on credit were ₹30,000, Cash paid to Creditors during 2017-18 was ₹20,000, Returns Outward (regarding credit purchases) were ₹1,000 and Bills Payable accepted during the year ₹10,000. Find the balance of Creditors on 31st March, 2018.

Creditors Account Dr. Cr. Particulars Amount (₹) Particulars Amount (₹) Cash A/c 20,000 Balance b/d 15,000 Purchases Return A/c 1,000 Purchases A/c 30,000 Bills Payable A/c 10,000 Balance c/d 14,000 45,000 45,000

Creditors Account

Dr.
Cr.

Particulars

Amount

(₹)

Particulars

Amount

(₹)

Cash A/c
20,000
Balance b/d
15,000

Purchases Return A/c
1,000
Purchases A/c
30,000

Bills Payable A/c
10,000

Balance c/d
14,000

45,000

45,000