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Which transac...

Question

Which transactions are recorded in the purchase return book?

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Solution

In a purchase return book the items that are returned to the suppliers are recorded.
Also read:
Cash Book
Purchase Book
Sales Book and Sales Return Book
Cash Flow Statement
Ledger in Accounting

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Q. Following transactions were recorded in the books of Darshan Traders:−

2017
March 1	Sold to Chandra Light House :−
	50 Tubelights @ ₹ 60 each Less : 20%
	20 Heaters @ ₹120 each Less : 25%
5	Purchased from Charat Ram Electric Co. :−
	25 Table Fans @ ₹ 600 each
	20 Ceiling Fans @ ₹800 each
10	Chaudhary & Sons purchased from us :−
	80 Dozen Bulbs @ ₹ 90 per Dozen
12	Purchased from Ram Lal & Sons one Typewriter for ₹ 6,000 on credit, for office use.
16	Sri Ram & Sons sold to us :−
	10 Electric Irons @ ₹ 180 each less : 10%
20	Chandra Light House returned :−
	5 Tubelights sold on March 1.
22	Sold goods to Jai Bhagwan & Co. for cash ₹ 10,000.
25	Returned to Sri Ram & Sons 2 Electric Irons purchased on March 16.

You are required to prepare (i) Purchase Book; (ii) Sales Book; (iii) Purchase Return Book, and (iv) Sales Return Book.

Q. Answer in one sentence only :

State the source document required for recording transactions in Purchase Return Book.

Rectify the following errors:

(a)	Credit Sales to Mohan Rs 7,000 were recorded in purchases book.
(b)	Credit Purchases from Rohan Rs 900 were recorded in sales book.
(c)	Goods returned to Rakesh Rs 4,000 were recorded in the sales return book.
(d)	Goods returned from Mahesh Rs 1,000 were recorded in purchases return book.
(e)	Goods returned from Nahesh Rs 2,000 were recorded in purchases book.

Q. Record the following transactions in the Purchases Book of Subhash General Stores, Delhi:


2019
May 1		Bought from M/s. Chunni Lal Mam Raj, Delhi:
		100 bags of ITC Wheat Atta @ ₹ 530 per bag
		50 bags of Rice Basmati @ ₹ 500 per bag
		Less: Trade Discount @ 10%
		CGST and SGST @ 6% each was payable on the purchases
May 3		Bought from M/s. Kanodia Oil Mills, Delhi:
		40 tins Oil @ ₹ 1,500 per tin
		20 tins Banaspati Oil @ ₹ 900 per tin
		Less: Trade Discount @ 5%
		CGST and SGST @ 6% each was payable on the purchases
May 4		Purchased from M/s. Gupta Bros., Hapur:
		25 bags gram @ ₹ 480 per bag
		40 bags oats @ ₹ 25 per bag
		Less: Trade Discount @ 5%
		IGST @ 12% was payable on the purchases

Q. The source document required for recording transactions in Purchase Return Book.

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