Prepare Returns Inward and Return Outward Books of Manoj, Mumbai from the following transactions and post them into Ledger Accounts:

2019

March 1 Mathur Bros., New Delhi, returned:

5 pairs of Shoes for being defective @ ₹ 2,000 per pair

Less: Trade Discount 10%, IGST was charged @ 18%

March 5 Returned to Kanpur Leather Private Ltd., Kanpur:

100 pairs of Chappals being not up to the approved sample. They were purchased @ ₹ 300 per pair

Less: Trade Discount 15%

IGST was paid @ 18%

March 12 Baluja Shoes Co., Mumbai, returned 12 pairs of ladies chappals sold to them @ ₹ 4,000 per pair

Less: Trade Discount 10%, CGST and SGST was charged @ 9% each

March 20 Returned to Bata Shoes Pvt Ltd., Mumbai:

100 pairs B.S.C Canvas Shoes @ ₹ 500 per pair

Less: Trade Discount 15%

CGST and SGST was paid @ 9% each

Open in App

Solution

Returns Inward Book

Date

Particulars

Credit Note No

L.F.

Details

(₹)

Sales Value

(₹)
Output CGST
(₹) Output SGST
(₹) Output IGST
(₹) Total
(₹)

2019

March 01

Mathur Bros., New Delhi

5 pairs of Shoes @ Rs 2,000 per pair

10,000

Less: 10% Trade Discount

(1,000)

9,000

Add: 18% IGST 1,620

10,620 9,000 - - 1,620 10,620

March 12

Baluja Shoes Co., Delhi

12 pairs of Ladies Chappals @ Rs 4,000 per pair

48,000

Less: 10% Trade Discount

(4,800)

43,200

Add: 9% CGST 3,888

9% SGST
3,888

50,976

43,200
3,888 3,888 - 50,976

March 31

52,200
3,888 3,888 1,620 61,596

Returns Outward Book

Date

Particulars

Debit Note No

L.F.

Details

(₹)

Cost

(₹)
Input CGST
(₹) Input SGST
(₹) Input IGST
(₹) Total
(₹)

2019

March 05

Kanpur Leather Private Ltd., Kanpur

100 pairs of Chappals @ Rs 300 per pair

30,000

Less: 15% Trade Discount

(4,500)

25,500

Add: 18% IGST 4,590

30,090 25,500 - - 4,590 30,090

March 20

Bata Shoes Pvt. Ltd., Mumbai

100 pairs B.S.C Canvas Shoes @ Rs 500 per pair

50,000

Less: 15% Trade Discount
(7,500)

42,500

Add: 9% CGST 3,825

9% SGST 3,825

50,150

42,500
3,825 3,825 - 50,150

Return Outward A/c

Cr.

68,000
3,825 3,825 4,590 80,240

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Similar questions

2018
Jan. 10	Returned to Sohan & Sons, Kolkata:
	10 Rohtas fans 36'' @ ₹ 1,250 each
	Trade Discount 10%
	CGST and SGST was paid @ 6% each
Jan. 25	Returned to Ram & Co., Delhi:
	25 Tube-lights @ ₹ 200 each
	IGST was paid @ 12%

From the following Subsidiary Books prepare necessary ledger accounts and balance them.

From the following Subsidiary Book Prepare necessary ledger accounts and balance them.

2017
Nov. 7	Returned to Sachdeva Furniture Store, Ahmedabad (Gujarat) :
	5 Chairs @ ₹ 2,000 each
	1 Table for ₹ 15,000
	Less: 10% Trade Discount
22	Returned 8 Chairs to India Furniture House, Jodhpur (Rajasthan) @ ₹ 1,500 each, being not of specified quality.
24	Returned one Dining Table to Arora & Co., Jaipur (Rajasthan) being not according to sample ₹ 50,000.
28	Allowance claimed from Delhi Furniture Shop, Ahmedabad (Gujarat) on account of mistake in the invoice ₹ 16,000.

2017		(₹)
March 1	Shyam Sunder & Sons commenced business with cash	80,000
2	Purchased goods for cash	36,000
3	Machinery purchased for cash	4,000
4	Purchased goods from :
	Raghu	22,000
	Dilip	30,000
6	Returned goods to Raghu	4,000
8	Paid to Raghu, in full settlement of his account	17,500
10	Sold goods to Mahesh Chand & Co. for ₹ 32,000 at 5% trade discount
13	Received cash from Mahesh Chand & Co.	19,800
	Discount allowed	200
15	Paid cash to Dilip	14,850
	Discount received	150
20	Sold goods for cash	25,000
24	Sold goods for cash to Sudhir Ltd.	18,000
25	Paid for Rent	1,500
26	Received for Commission	2,000
28	Withdrew by Proprietor for his personal use	5,000
28	Purchased a fan for Proprietor's house	1,200

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2019
March 1	Mathur Bros., New Delhi, returned:
	5 pairs of Shoes for being defective @ ₹ 2,000 per pair
	Less: Trade Discount 10%, IGST was charged @ 18%
March 5	Returned to Kanpur Leather Private Ltd., Kanpur:
	100 pairs of Chappals being not up to the approved sample. They were purchased @ ₹ 300 per pair
	Less: Trade Discount 15%
	IGST was paid @ 18%
March 12	Baluja Shoes Co., Mumbai, returned 12 pairs of ladies chappals sold to them @ ₹ 4,000 per pair
	Less: Trade Discount 10%, CGST and SGST was charged @ 9% each
March 20	Returned to Bata Shoes Pvt Ltd., Mumbai:
	100 pairs B.S.C Canvas Shoes @ ₹ 500 per pair
	Less: Trade Discount 15%
	CGST and SGST was paid @ 9% each

Returns Inward Book
Date	Particulars	Credit Note No	L.F.	Details (₹)	Sales Value (₹)	Output CGST (₹)	Output SGST (₹)	Output IGST (₹)	Total (₹)
2019
March 01	Mathur Bros., New Delhi
	5 pairs of Shoes @ Rs 2,000 per pair			10,000
	Less: 10% Trade Discount			(1,000)
				9,000
	Add: 18% IGST			1,620
				10,620	9,000	-	-	1,620	10,620

March 12	Baluja Shoes Co., Delhi
	12 pairs of Ladies Chappals @ Rs 4,000 per pair			48,000
	Less: 10% Trade Discount			(4,800)
				43,200
	Add: 9% CGST			3,888
	9% SGST			3,888
				50,976	43,200	3,888	3,888	-	50,976
March 31					52,200	3,888	3,888	1,620	61,596

Returns Outward Book
Date	Particulars		Debit Note No	L.F.	Details (₹)	Cost (₹)	Input CGST (₹)	Input SGST (₹)	Input IGST (₹)	Total (₹)
2019
March 05	Kanpur Leather Private Ltd., Kanpur
	100 pairs of Chappals @ Rs 300 per pair				30,000
	Less: 15% Trade Discount				(4,500)
					25,500
	Add: 18% IGST				4,590
					30,090	25,500	-	-	4,590	30,090

March 20	Bata Shoes Pvt. Ltd., Mumbai
	100 pairs B.S.C Canvas Shoes @ Rs 500 per pair				50,000
	Less: 15% Trade Discount				(7,500)
					42,500
	Add: 9% CGST				3,825
	9% SGST				3,825
					50,150	42,500	3,825	3,825	-	50,150
	Return Outward A/c	Cr.				68,000	3,825	3,825	4,590	80,240