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Question No 14 Chapter No 17 - Unimax Class 11
Find out the credit purchases and total purchases from the following particulars:
| ₹ | |
|---|---|
| Balance of creditors on 1st April 2019 | 60,000 |
| Balance of creditors on 31st March, 2020 | 70,000 |
| Cash paid to creditors | 1,00,000 |
| Chequeens issued to creditors | 60,000 |
| Returns outwards | 4,000 |
| Discount received from creditors | 6,000 |
| B/P give to creditors | 10,000 |
| Bills receivable dishonored | 4,000 |
| Bills receivable endorsed to creditors | 1,000 |
| Bills receivable endorsed to creditors dishonored | 3,000 |
| Cash Purchases | 50,00 |
Total Creditors A/c
| Particulars | Amount | Particulars | Amount |
|---|---|---|---|
| To Cash paid | 1,00,000 | To Balance b/d (1-4-2019) | |
| To Bank | 60,000 | (Opening creditors) | 60,000 |
| To Returns outwards | 4,000 | By B/P Dishonored | 4,000 |
| To Discount received | 6,000 | By B/R endorsed dishonored | 3,000 |
| To B/P accepted | 10,000 | By Credit purchases (Balance figure) | 1,84,000 |
| To B/R endorsed | 1,000 | ||
| To Balance c/d (31.3.2020) Closing creditors |
70,000 | ||
| 2,51,000 | 2,51,000 |
| Credit Purchases | = ₹ 1,84,000 |
| Total Purchases | = Credit purchases + cash purchases |
| = ₹ 1,84,000+ ₹ 50,000 = ₹ 2,34,000 |
Note: the following items will not be recorded in “Total creditors Account” because they do not affect the total creditors:
(1) Cash purchases
(2) Bills payable met
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Also, Check out the solved question of all Chapters: –
Students may choose only one part from the Part II and Part III
Part-II
Part-III
Chapter No. 2 - Theory Base of Accounting
Chapter No. 3 - Origin of Transactions
Chapter No. 4 - Vouchers and transactions
Chapter No. 6 - Accounting for Goods and Services Tax(GST)
Chapter No. 9 - Other Subsidiary Books
Chapter No. 10 - Journal Proper
Chapter No. 11 - Trial Balance
Chapter No. 12 - Bank Reconciliation Statement
Chapter No. 14 - Provisions and Reserves
Chapter No. 15 - Bills of Exchange
Chapter No. 16 - Rectification of Errors
Chapter No. 17 - Financial Statements - (Without Adjustments)
Chapter No. 18 - Financial Statements - (With Adjustments)
Check out T.S. Grewal +1 Book 2019 @ Oficial Website of Sultan Chand Publication4
Economics Educator
Mrs. Dilgeerjot Kaur holds a B.Com and M.Com degree and has over 9 years of teaching experience in microeconomics, macroeconomics, and business economics.
This guide covers "Question no 14 Chapter No 17 - Unimax Class 11", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Unimax class 11 - 2021.
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