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Question No 30 Chapter No 19
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30. From the following information supplied by X, who keeps his books on Single Entry System, you are required to calculate Total Purchases:
Opening balance of Bills Payable | 5,000 |
Opening balance of Creditors | 6,000 |
Closing balance of Bills Payable | 7,000 |
Closing balance of Creditors | 4,000 |
Cash paid to Creditors during the year | 30,200 |
Bills Payable discharged during the year | 8,900 |
Returns Outward | 1,200 |
Cash Purchases | 25,800 |
The solution of Question No 30 Chapter No 19:-
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Creditors Account | |||||
Liabilities | Amount | Assets | Amount | ||
Cash A/c | 30,200 | Balance b/d | 6,000 | ||
Purchases Return A/c | 1,200 | Purchases A/c | 40,300 | ||
Bills Payable A/c | 10,900 | ||||
Balance c/d | 4,000 | ||||
46,300 | 46,300 |
Total Purchases = Cash Purchases + Credit Purchases
Total Purchases = 25,800 + 40,300 = 66,100
Final Accounts: Meaning, Definition and Explanation
Profit and Loss Account: Meaning, Format & Examples
Balance Sheet: Meaning, Format & Examples
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Also, Check out the solved question of previous Chapters: –
- Chapter No. 1 – Introduction to Accounting
- Chapter No. 2 – Basic Accounting Terms
- Chapter No. 3 – Theory Base of Accounting, Accounting Standards and International Financial Reporting Standards(IFRS)
- Chapter No. 4 – Bases of Accounting
- Chapter No. 5 – Accounting Equation
- Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
- Goods and Services Tax(GST)
- Chapter No. 7 – Origin of Transactions – Source Documents and Preparation of Vouchers
- Chapter No. 8 – Journal
- Chapter No. 9 – Ledger
- Chapter No. 10 – Special Purpose Books I – Cash Book
- Chapter No. 11 – Special Purpose Books II – Other Books
- Chapter No. 12 – Bank Reconciliation Statement
- Chapter No. 13 – Trial Balance
- Chapter No. 14 – Depreciation
- Chapter No. 15 – Provisions and Reserves
- Chapter No. 16 – Accounting for Bills of Exchange
- Chapter No. 17 – Rectification of Errors
- Chapter No. 18 – Financial Statements of Sole Proprietorship
- Chapter No. 19 – Adjustments in preparation of Financial Statements
- Chapter No. 20 – Accounts from incomplete Records – Single Entry System
- Chapter No. 21 – Computers in Accounting
- Chapter No. 22 – Accounting Software – Tally
- Chapter No. 5 – Accounting Equation
- Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
- Goods and Services Tax(GST)
- Chapter No. 8 – Journal
- Chapter No. 9 – Ledger
- Chapter No. 10 – Special Purpose Books I – Cash Book
Check out T.S. Grewal +1 Book 2019 @ Official Website of Sultan Chand Publication
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