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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Solution

Creditors Account

Dr.

Cr.

Particulars

Amount

Rs

Particulars

Amount

Rs

Discount Received

26,000

By Balance b/d

1,80,425

Return Outwards

37,200

Purchases – credit

Bills accepted

1,99,000

(8,97,000 – 1,40,000)

7,57,000

B/R (endorsed to creditors)

26,000

Balance c/d

2,09,050

Cash/Bank (Balancing figure)

4,40,175

9,37,425

9,37,425

Amount paid to Creditors is Rs 4,40,175.

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Similar questions

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

	(Rs)
Sundry creditors as on March 31, 2005	$1, 80, 425$
Discount received	$26, 000$
Discount allowed	$24, 000$
Return outwards	$37, 200$
Return Inward	$32, 200$
Bills accepted	$1, 99, 900$
Bills endorsed to creditors	$26, 000$
Creditors as on April 1, 2006	$2, 09, 050$
Total Purchase	$8, 97, 000$
Cash Purchase	$1, 40, 000$

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

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.

From the following information, calculate the amount to be paid to creditors

$\begin{matrix} (Rs.) Sundry creditors as on March 31, 2005 & 1, 80, 425 Discount received & 26, 000 Discount allowed & 24, 000 Return outwards & 37, 200 Return inward & 32, 200 Bills accepted & 1, 99, 000 Bills endorsed to creditors & 26, 000 Creditors as on April 1, 2006 & 2, 09, 050 Total purchase & 8, 97, 000 Cash purchase & 1, 40, 000 \end{matrix}$

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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	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

Creditors Account
Dr.		Cr.
Particulars	Amount Rs		Particulars	Amount Rs
Discount Received	26,000		By Balance b/d	1,80,425
Return Outwards	37,200		Purchases – credit
Bills accepted	1,99,000		(8,97,000 – 1,40,000)	7,57,000
B/R (endorsed to creditors)	26,000
Balance c/d	2,09,050

Cash/Bank (Balancing figure)	4,40,175


	9,37,425			9,37,425