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Numerical Questions · Q18
Q.

The following information is given:

ParticularsAmount (₹)
Opening creditors60,000
Cash paid to creditors30,000
Closing creditors36,000
Returns Inward13,000
Bill matured27,000
Bill dishonoured8,000
Purchases return12,000
Discount allowed5,000

Calculate credit purchases during the year.

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Prepare the Total Creditors Account. Cash paid, the bills payable accepted (bill matured ₹27,000), purchases return and the closing balance are debited; the opening balance and the dishonoured bill are credited. Credit purchases is the balancing figure. Returns inward ₹13,000 and discount allowed ₹5,000 relate to debtors and are excluded.

Total Creditors Account

DateParticularsJ.F.Amount (₹)DateParticularsJ.F.Amount (₹)
To Cash30,000By Balance b/d60,000

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