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Question

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

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Solution

Creditors Account

Dr.

Cr.

Particulars

Amount

Rs

Particulars

Amount

Rs

Cash

1,80,000

Balance b/d

45,000

Bank

60,000

B/P (dishonoured)

3,000

Discount Received

5,400

B/R (dishonoured)

1,800

B/P (accepted)

12,750

Return Outwards

7,500

Purchases – credit

B/R (endorsed to creditors)

4,500

(Balancing figure)

2,56,350

Balance c/d

36,000

3,06,150

3,06,150

Credit Purchases Rs 2,56,350


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