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Sales Return Book

What is a sal...

Question

What is a sales ledger?

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Solution

Sales ledger is the ledger in accounting that contains a record of all the accounts of customers and it records all those transactions involving receipt of money for products or services. It also contains a record of the pending payments or payments that are owed by the business.

It is prepared annually and represented on the balance sheet as account receivables.

Also read:

Cash Book

Purchase Book

Sales Book and Sales Return Book

Cash Flow Statement

Ledger in Accounting

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Q. Enter the following transactions in the Sales Return Book of Raj Computers, Delhi:

2018
July 1	Sohan & Sons returned 2 Laptops HP sold @ ₹ 40,000 each plus CGST and SGST @ 6% each
July 2	Ramesh & Sons, Noida returned 2 'Ricoh' printers sold @ ₹ 10,000 each plus IGST @ 12%
July 25	Dinesh, Chandigarh returned 10 HP Desktops sold @ ₹ 20,000 each plus IGST @ 12% for delayed supply
July 26	Computer Mouse returned by Ravi, Delhi sold to him for cash ₹ 2,000 plus CGST and SGST @ 6% each

Write up the Ledger Accounts.

Q. Prepare a Sales Book from the following transactions of Hema Traders, Kolkata dealing in furniture. Open a Ledger Account also:

2018
April 1	Sold to M/s. Gupta Furniture House, Delhi:
	100 Chairs @ ₹ 1,500 per chair
	40 Tables @ ₹ 2,000 per table
	Less: Trade Discount @ 5%
	Charged IGST @ 12%
April 10	Sold to M/s. Ajit Singh & Sons, Kolkata:
	150 Desks @ ₹ 1,000 per desk
	160 Chairs @ ₹ 1,500 per chair
	Less: Trade Discount @ 5%
	Charged CGST and SGST @ 6% each
April 15	Sold to M/s. Ideal Furniture House, Darjeeling:
	10 Sofa sets @ ₹ 75,000 each
	5 Almirahs @ ₹ 3,000 each
	25 Office Tables @ ₹ 4,000 each
	Less: Trade Discount @ 10%
	Charged CGST and SGST @ 6% each

Q. From the following particulars, prepare Sales Book of Gupta & Co., Kolkata who deals in furniture:

2019
Jan. 5	Sold to Hari & Co., Kolkata:
	10 Tables @ ₹ 1,100 each
	20 Chairs @ ₹ 1,000 each
	Charged CGST and SGST @ 6% each
Jan. 10	Sold to M/s. Sharma & Co., Delhi:
	5 Almirahs @ ₹ 5,000 each
	5 Stools @ ₹ 1,000 each
	Charged IGST @ 12%
Jan. 20	Sold old printer for ₹ 600 to Raja & Co., Kolkata
	Charged CGST and SGST @ 6% each
Jan. 25	Sold to M/s. Sohan Lal & Bros., Kolkata:
	5 Tables @ ₹ 2,500 each
	1 Revolving Chair @ ₹ 5,000
	Charged CGST and SGST @ 6% each

Show the Posting from Sales Book to Ledger Accounts.

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

Sales Book
Date	Particulars	Outward Invoice No.	L.F.	Amount Rs
2011 Apr.1	Amit			6,000
5	Pravin			8,000
20	Santosh			4,000
30	Mehta and Co.			12,000
	Total			30,000

Sales Return Book
Date	Particulars	Credit Note No.	L.F.	Amount Rs
2011Apr. 1	Pravin			2,000
2	Santosh			1,000
	Total			3,000

Q. From the following particulars, prepare a Sales Book of M/s. Gyan Prasad & Bros., Delhi, dealers of stationery and post into Ledger Accounts:

2017
July 1	Sold to M/s. Stationery Mart, Delhi on credit:
	10 reams of white paper @ ₹ 300 per ream
	Charged CGST and SGST @ 6% each
July 2	Sold to M/s. Puran Chand & Co., Chandigarh:
	6 dozen pens @ ₹ 200 per dozen
	Charged IGST @ 12%
July 10	Sold old newspaper for cash ₹ 62
July 25	Sold on credit to M/s. Rahim & Co., Varanasi:
	10 Drawing Boards @ ₹ 500 per piece
	Charged IGST @ 12%
July 30	Sold to M/s. Kay Cee & Co., Delhi on credit:
	4 Portable Study Tables @ ₹ 5,000 per table
	Charged CGST and SGST @ 6% each

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