Bought of Naresh , Return to Kunal Traders Return inwards from Mukesh Purchased goods from Kirit & Co. for list price of , less % trade discount Sold to Shri Chand goods less % trade discount Sold to Ramesh Brothers , Return outwards to Kirit and Co. , less % trade discount Ramesh Brothers returned goods Rs. .
Ans : (Total of sales book Rs. , , purchases book Rs. , , Purchases return book Rs. , , sales return book Rs.
, ). . The following balances of ledger of M/s Marble Traders on April , April Cash in hand , Cash at bank , Bills receivable , Ramesh (Cr.) , Stock (Goods) , Bills payable Rahul (Dr.) , Himanshu (Dr.) , Transactions during the month were: April Goods sold to Manish , Purchased goods from Ramesh , Received cash from Rahul in full settlement , Cash received from Himanshu on account , paid to Remesh by cheque , . Rent paid by cheque , Cash received from manish , Cash sales , Goods returned to Ramesh , Cash paid to Ramesh in full settlement , Discount received Goods sold to Kushal , Paid trade expenses Drew for personal use , Goods return from Kushal , Cash received from Kushal , Paid for stationery Postage charges Salary Paid , Goods purchased from Sheetal Traders , Sold goods to Kirit Goods purchased from Handa Traders , Journlise the above transactions and post them to the ledger.
Checklist to Test Your Understanding Test Your Understanding - I a. (iv) b. (ii) c. (iii) d.
(ii) e. (ii) f. (iv) g .(ii) h. (iii) i.
(iii) Test Your Understanding - II . (a) subsidiary (b) cash (c) purchases return (d) journal proper (e) cash, bank (f) more (g) credit (h) bank (i) overdraft (j) imprest (k) credit . (a) False (b) True (c) False (d) False (e) False (f) True (g) True (h) False (i) True