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 |
The solution of Question No 14 Chapter No 17 – UNIMAX Class 11
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: –
Advanced Accountancy – Unimax Class 11 – 2021 – Solution.
Part-I
- Chapter No. 1 – Introduction of Accounting
- Chapter No. 2 – Theory Base of Accounting
- Chapter No. 3 – Vouchers and Transactions
- Chapter No. 4 – Journal
- Chapter No. 5 – Goods and Services Tax (GST): An Introduction
- Chapter No. 6 – Ledger
- Chapter No. 7 – Special Purpose Book – Cash Book
- Chapter No. 8 – Other Subsidiary Books
- Chapter No. 9 – Trial Balance
- Chapter No. 10 – Rectification of Errors
- Chapter No. 11 – Depreciation
- Chapter No. 12 – Provision and Reserves
- Chapter No. 13 – Bank Reconciliation Statement
- Chapter No. 14 – Bills of Exchange
Students may choose only one part from the Part II and Part III
Part-II
- Chapter No. 15 – Financial Statements (Without Adjustments)
- Chapter No. 16 – Financial Statements (With Adjustments)
- Chapter No. 17 – Accounts from Incomplete Records – Single Entry System
Part-III
- Chapter No. 18 – Introduction to Computers and Accounting information System
- Chapter No. 19 – Computerised Accounting
- Chapter No. 20 – Accounting Software: Tally
- Chapter No. 21 – Data Base System
- Chapter No. 22 – Concept of Entity and Relationship
Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution
Chapter No. 2 – Theory Base of Accounting
Chapter No. 3 – Origin of Transactions
Chapter No. 4 – Vouchers and transactions
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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
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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)
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