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Question

From the following calculate credit purchases during the year.
Creditors as on $1 - 4 - 2013$ Rs. $36, 500$
Payment made to creditors Rs. $60, 000$
Discount given by creditors for early payment Rs. $5, 500$
Creditors as on $31 - 3 - 2014$ Rs. $21, 000$ .

Rs.

50, 000

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Rs.

54, 000

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Rs.

61, 250

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Rs.

52, 800

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Solution

The correct option is A Rs. $50, 000$
Particulars Amount Particulars Amount
To Cash 60000 By Opening Balance B/f 36500
To Discount 5500 By Credit Purchases 50000
To Closing Balance C/f 21000
Total 86500 Total 86500

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Similar questions

Balance of opening creditors = Rs. 60,000 , Balance of closing creditors = Rs. 80,000 , Payments made during the year = Rs. 1,40,000.
What is the amount of credit purchases during the year?

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?

Asertain the appropriate missing figures by preparing Total Creditors Account from the following information :
Creditors as on March 31, 2018 Rs. 6,000,
Creditors as on March 31, 2017 Rs. 36,000,
Cash paid to creditors Rs. 1,04,400,
Discount allowed by creditors Rs 2,000,
Purchase return Rs. 2,000,
Bills payables accepted Rs. 34,000,
Cheques issued to creditors Rs. 20,000,
Bills receivables endorsed in favour of creditors Rs. 40,000 out of which $25 %$ bills were dishonoured.

Q. From the following details calculate credit sales. Debtors balance as on

1 - 4 - 2013

Rs.

30, 000

Collection from debtors during the year Rs.

70, 000

Discount given to debtors Rs.

4, 000

Bad debts during the year Rs.

3, 500

Debtors balance as on

31 - 3 - 2014

Rs.

20, 000

Q. Question : The following information is given:

	(Rs)
Opening Creditors	$60, 000$
Cash paid to Creditors	$30, 000$
Closing Creditors	$36, 000$
Returns Inward	$13, 000$
Bill matured	$27, 000$
Bill dishonoured	$8, 000$
Purchase return	$12, 000$
Discount allowed	$5, 000$

Calculate credit purchases during the year.

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Particulars	Amount	Particulars	Amount
To Cash	60000	By Opening Balance B/f	36500
To Discount	5500	By Credit Purchases	50000
To Closing Balance C/f	21000
Total	86500	Total	86500

From the following calculate credit purchases during the year.Creditors as on 1−4−2013 Rs. 36,500Payment made to creditors Rs. 60,000Discount given by creditors for early payment Rs. 5,500Creditors as on 31−3−2014 Rs. 21,000.

The correct option is A Rs. 50,000 ParticularsAmount Particulars Amount To Cash 60000 By Opening Balance B/f 36500 To Discount 5500 By Credit Purchases 50000 To Closing Balance C/f 21000 Total 86500 Total 86500

From the following calculate credit purchases during the year.
Creditors as on $1 - 4 - 2013$ Rs. $36, 500$
Payment made to creditors Rs. $60, 000$
Discount given by creditors for early payment Rs. $5, 500$
Creditors as on $31 - 3 - 2014$ Rs. $21, 000$ .

The correct option is A Rs. $50, 000$
Particulars Amount Particulars Amount
To Cash 60000 By Opening Balance B/f 36500
To Discount 5500 By Credit Purchases 50000
To Closing Balance C/f 21000
Total 86500 Total 86500