Prepare Return Inward Journal (Book) from the following transactions of M/s Bansal Electronics for July 2017:
2017
July

Rs

04

M/s Gupta Traders returned the goods

1,500

10

Goods returned from M/s Harish Traders

800

18

M/s Rahul Traders returned the goods not as per specifications

1,200

28

Goods returned from Sushil Traders

1,000

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Solution

Sales Return Book

Date

Name of Customer

(Account to be credited)

Credit Note

No.

L.F.

Amount

(₹)

2017

Jul.04

M/s Gupta Traders

1,500

Jul.10

M/s Harish Traders

800

Jul.18

M/s Rahul Traders

1,200

Jul.28

Sushil Traders

1,000

Sales Return Account

4,500

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Prepare a purchases return (journal) book from the following transactions for April 2017.

		Rs
05	Returned goods to M/s Kartik Traders	1,200
10	Goods returned to Sahil Pvt. Ltd.	2,500
17	Goods returned to M/s Kohinoor Traders for list price Rs 2,000 less 10% trade discount.
28	Return outwards to M/s Handa Traders	550

Prepare Return Inwards Journal (Book) from the following transactions of M/s Bansal Electronics for November 2010

$\begin{matrix} (Rs.) 4 & Ms/ Gupta Traders returned the goods & 1, 500 10 & Goods returned from M/s Harish Traders & 800 18 & M/s Rahul Traders returned the goods not as per specifications & 1, 200 28 & Goods returned from Sushil Traders & 1, 000 \end{matrix}$

Record the following transactions in the sales return book.

Two water purifiers were sold to M/s Raman Traders for Rs 2,100 each, out of which one purifier was returned back due to the manufacturing defect (Credit Note No. 10/2016).

Other transactions were

$\begin{matrix} (i) M/s Gupta Traders returned the purifiers & 1, 500 (ii) Purifiers returned from M/s Harish Traders & 800 (iii) M/s Rahul Traders returned the purifiers not as per specifications & 1, 200 (iv) Purifiers returned from M/s Sushil Traders & 1, 000 \end{matrix}$

Also prepare sales return account and M/s Raman Traders account.

Q. Prepare proper subsidiary books and post them to the ledger from the following transactions for the month of February 2017:
2017
February

		Rs
01	Goods sold to Sachin	5,000
04	Purchase from Kushal Traders	2,480
06	Sold goods to Manish Traders	2,100
07	Sachin returned goods	600
08	Returns to Kushal Traders	280
10	Sold to Mukesh	3,300
14	Purchased from Kunal Traders	5,200
15	Furniture purchased from Tarun	3,200
17	Bought of Naresh	4,060
20	Return to Kunal Traders	200
22	Return inwards from Mukesh	250
24	Purchased goods from Kirit & Co. for list price of	5,700
	less 10% trade discount
25	Sold to Shri Chand goods	6,600
	less 5% trade discount
26	Sold to Ramesh Brothers	4,000
28	Return outwards to Kirit and Co.	1,000
	less 10% trade discount
28	Ramesh Brothers returned goods Rs 500.

Q. Pass Journal entries of M/s. Bhanu Traders, Delhi from the following transactions. Post them to the Ledger:


2018		₹
April 1	Commenced business with cash*	1,50,000
April 2	Opened a bank account with PNB*	50,000
April 3	Purchased furniture	20,000
April 7	Bought goods for cash from M/s. Rupa Traders, Delhi	30,000
April 8	Purchased goods from M/s. Hema Traders, Chandigarh	42,000
April 10	Cash sales	30,000
April 14	Sold goods on credit to M/s. Gupta Traders, Kolkata	12,000
April 16	Rent paid	4,000
April 18	Paid Electricity expenses*	1,000
April 20	Received cash from Gupta Traders*	12,000
April 22	Goods returned to Hema Traders	2000
April 23	Cash paid to Hema Traders*	40,000
April 25	Bought postage stamps*	100
April 30	Paid salary to Mohan*	4,000

Intra-state transactions are subject to levy of CGST and SGST @ 6% each whereas inter-state transactions are subject to levy of IGST @ 12%. Out of the above transactions marked (*) are not subject to levy of GST.

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		Rs
04	M/s Gupta Traders returned the goods	1,500
10	Goods returned from M/s Harish Traders	800
18	M/s Rahul Traders returned the goods not as per specifications	1,200
28	Goods returned from Sushil Traders	1,000

Sales Return Book
Date	Name of Customer (Account to be credited)	Credit Note No.	L.F.	Amount (₹)
2017
Jul.04	M/s Gupta Traders			1,500
Jul.10	M/s Harish Traders			800
Jul.18	M/s Rahul Traders			1,200
Jul.28	Sushil Traders			1,000

	Sales Return Account			4,500

Sales Return Book Date Name of Customer (Account to be credited) Credit Note No. L.F. Amount (₹) 2017 Jul.04 M/s Gupta Traders 1,500 Jul.10 M/s Harish Traders 800 Jul.18 M/s Rahul Traders 1,200 Jul.28 Sushil Traders 1,000 Sales Return Account 4,500

Sales Return Book

Date

Name of Customer

(Account to be credited)

Credit Note

No.

L.F.

Amount

(₹)

2017

Jul.04

M/s Gupta Traders

1,500

Jul.10

M/s Harish Traders

800

Jul.18

M/s Rahul Traders

1,200

Jul.28

Sushil Traders

1,000

Sales Return Account

4,500