Record the following transactions in purchase return book

(i) 2 Banarsi sarees @ Rs 2,000 each and 2 Kanjivaram sarees @ Rs 12,500 each were bought from Neema Mills, trade discount on all items @ $20 %$ . However, on delivary these sarees were found defective and were returned back with debit note no.03/2016.

(ii) Returned to Payal Mills ,Surat -5 polyster sarees @ Rs 200 each

Trade discount @ $10 %$ (Debit Note No.101)

(iii) Garg Mills, Kota accepted the returns of goods (which were purchased for cash) from us, 5 Kota sarees @ Rs 80. (Debit Note No.102)

(iv) Returned to Mittal Mills, Bangalore, 5 Silk sarees @ Rs 520 each

Trade discount @ $10 %$ (Debit Note No.103)

(v) Returned one typewriter (being defective) @ Rs 7,000 to Bansal & Co

Also prepare purchase return account and Neema Mills account.

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Solution

$Purchase Return Book$

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Similar questions

Q. Following are the sales return of Jindal & Co. a saree dealer:
05.01.2016 - Goyal & Co. Rampur returned 2 Polyster sarees @ 125 each
10.01.2016 - Accepted return of goods by Garf & Co. 2 Kota sarees @ 50
17.01.2016 - Mittal & Co. Hissar returned 2 silk sarees @ 325
31.01.2016 - Mohan returned one typewriter @ 500
Total of sales returns book will be _____.

Enter the following transactions of M/s Ketan in Purchase Book, Sales Book, Purchase Returns Book and Sales Returns Book.

2011 March
1	Sold goods to Sudha Stores Rs 29,000 at 10% trade discount.
3	Purchased goods from Meghdoot Traders Rs 37,350 and paid carriage Rs 150.
6	Sudha Stores returned goods of Rs 3,220 (Net).
10	Cash purchases Rs 18,600 and Cash Sales Rs 61,000.
13	Jayesh invoiced goods to us as per our order placed on 28th Feb. 2011 Rs 27,000.
17	Sold goods worth Rs 33,400 to Nandini at 10% trade discount.
20	Returned goods to Jayesh Rs 2,850 as they were defective.
22	Credit purchases from Micky Traders Rs 19,450 and they allowed a trade discount of Rs 150.
23	Nandini returned goods of Rs 1,900 (Gross) as they were damaged.
26	Purchased office furniture on credit from Suhani Furniture Mart Rs 55,000.
29	Purchased goods from Garima Stores for Rs 8,000 and sold the same to Anita at 25% profit on cost.
31	Sent a debit note to Micky Traders for Rs 3,200

Rectify the following errors assuming that suspense account was opened.

Ascertain the difference in trial balance.

(a)	Credit sales to Mohan Rs 7,000 were recorded in Purchase Book. However, Mohan’s account was correctly debited.
(b)	Credit purchases from Rohan Rs 9,000 were recorded in sales book. However, Rohan’s account was correctly credited.
(c)	Goods returned to Rakesh Rs 4,000 were recorded in sales return book. However, Rakesh’s account was correctly debited.
(d)	Goods returned from Mahesh Rs 1,000 were recorded through purchases return book. However, Mahesh’s account was correctly credited.
(e)	Goods returned to Naresh Rs 2,000 were recorded through purchases book. However, Naresh’s account was correctly debited.

Rectify the following errors assuming that suspense account was opened. Ascertain the difference in trial balance.

(a) Credit sales to Mohan Rs. 7000 were recorded in purchase book. However, Mohan's account was correctly debited.

(b) Credit purchase from Rohan Rs. 9000 were recorded in the sales book. However, Rohan's account was correctly credited.

(c) Goods returned to Rakesh Rs. 4000 were recorded in sales return book. However, Rakesh's account was correctly debited.

(d) Goods returned from Mahesh Rs. 1000 were recorded through purchase return book. However, Mahesh's account was correctly credited.

(e) Goods returned to Naresh Rs. 2000 were recorded through purchase book. However, Naresh's account was correctly debited.

Record the following transactions in Purchase Book, Sales Book, Purchase Returns Book and Sales Returns Book of Tushar General Stores for the month of May 2011.

2011 May
1	Jaya invoiced goods of Rs 15,000 at 9% trade discount as per their Invoice number 231.
3	Purchased computer from IBM Computers worth Rs 55,000 as per their Invoice number 863.
4	Invoiced goods to Priya for Rs 20,000 at 4̳½ % trade discount as per Invoice number 341.
7	Sold goods to Sneha for Rs 14,500 at 10% trade discount as per Invoice number 342.
12	Priya returned goods worth Rs 3,500 for which we issued Credit Note Not 78. (Gross).
15	Goods worth Rs 3,500 returned to Jaya and issued Debit Note No. 94.
17	Sold a part of old machinery to Vipin on credit for Rs 29,800.
20	Sold goods to Anita for Rs 26,650 as per Invoice number 343 and purchased goods from her for Rs 12,250 as per their Invoice number 545.
22	Kailas Traders purchased goods from us Rs 16,000 at 6% trade discount as per the Invoice number 344.
24	Satya supplied goods to us of Rs 2,450 Invoice number 630.
27	Kails Traders returned goods to us of Rs 5,180 (Net) and we issued a Credit Note No. 79.
29	Returned goods worth Rs 460 to Satya and issued Debit Note No. 95.

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