Step 1, Tick the purchase book, sales book, purchase return book and sales return book separately.
Step 2, Transfer related transactions to concerned book,
Step 3, Find out total of each book separately.
Long answer question of subsidiary book is the exam based problems and solution
It is exam based comprehensive question and solution.
It covers large topic of the chapter.
Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Currency of your country
PROBLEM: 6A
The following extracted information is given by SKN Traders:
June 2 |
Goods purchased from Biddhya Rs 7,000 on credit (invoice No. 221) |
June 3 |
Goods sold to Damodar on credit Rs 12,000 (invoice 151) |
June 6 |
Returned goods Rs 4,000 to Biddhya (debit note No. 441) |
June 8 |
Goods sold to Shankar on credit Rs 20,000 (invoice 152) |
June 11 |
Goods purchased from Salim Rs 12,000 on credit (invoice No. 222) |
June 12 |
Goods sold to Yogita for Rs 8,000 on credit to (invoice No. 153) |
June 15 |
Yogita returned goods worth Rs 2,000 (credit note No. 331) |
June 16 |
Goods purchased from Binay for Rs 16,000 on credit. (invoice No. 223) |
June 22 |
Goods sold to Sarita Rs 15,000 on credit. (invoice No. 154) |
June 25 |
Returned goods to Salim Rs 3,000. (debit note No. 442) |
June 28 |
Shankar returned goods worth Rs 1,500. (credit note No. 332) |
Required: All day books
[Answer: Total creditors = 35,000; Total debtors = 55,000;
Purchase return = 7,000; Sales return = 3,500]
SOLUTION:
Date |
Particulars |
Invoice No. |
LF |
Amount |
June 2 |
Purchased form Biddhya |
221 |
|
7,000 |
June 11 |
Purchased form Salim |
222 |
|
12,000 |
June 16 |
Purchased form Binay |
223 |
|
16,000 |
|
Total creditors |
|
|
35,000 |
Date |
Particulars |
Invoice No. |
LF |
Amount |
June 3 |
Sold to Damodar |
151 |
|
12,000 |
June 8 |
Sold to Shankar |
152 |
|
20,000 |
June 12 |
Sold to Yogita |
153 |
|
8,000 |
June 22 |
Sold to Sarita |
154 |
|
15,000 |
|
Total debtors |
|
|
55,000 |
Date |
Particulars |
Invoice No. |
LF |
Amount |
June 6 |
Purchased returned to Biddhya |
441 |
|
4,000 |
June 25 |
Purchased returned to Salim |
442 |
|
3,000 |
|
Total debit note |
|
|
7,000 |
Date |
Particulars |
Invoice No. |
LF |
Amount |
June 15 |
Sales returned from Yogita |
331 |
|
2,000 |
June 28 |
Sales returned from Shankar |
332 |
|
1,500 |
|
Total credit note |
|
|
3,500 |
#######
Click on link for YouTube videos topic wise : |
|
Accounting Equation |
|
Basic Journal Entries in Nepali |
|
Basic Journal Entries |
|
Journal Entry and Ledger |
|
Ledger Account |
|
Subsidiary Book |
|
Cash Book |
|
Trial Balance and Adjusted Trial Balance |
|
Bank Reconciliation Statement (BRS) |
|
Depreciation |
|
Click on link for YouTube videos chapter wise: |
|
Financial Accounting and Analysis (All videos) |
|
Accounting Process |
|
Accounting for Long Lived Assets |
|
Analysis of Financial Statement |
#######
Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Currency of your country
PROBLEM: 6B
The following transactions are related to ABC Electricals:
Jan 1: |
Sold to Gupta Electricals: |
|
5 pieces electric kettle @ Rs 1,500 each |
|
10 pieces gas heater @ Rs 1,800 each |
|
Terms: trade discount 12%; payment 5/10, n/50 |
Jan 5: |
Sold to Rana Electricals: |
|
5 ceiling fans @ Rs 2,000 each (Less: trade discount 5%) |
|
20 pieces LED 5 watt @ Rs 100 each |
|
12 pieces bulb holder @ Rs 100 per dozen |
Jan 7: |
Goods sold to Max Lighting in cash: |
|
5 ceiling fans @ Rs 1,850 each |
Required: (a) Sales book; (b) Sales account; (c) Rana Electrical account (c) Journal entry
[Answer: Sales book = 35,140; Sales account = 44,390]
SOLUTION:
Sales Book
Date |
Particulars |
Invoice No. |
LF |
Amount |
Amount |
Jan 1 |
Sold to Gupta Electricals: |
|
|
|
|
|
5 units electric kettle @ Rs 1,500 each |
|
|
7,500 |
|
|
10 units gas heaters @ Rs 1,800 |
|
|
18,000 |
|
|
Total |
|
|
25,500 |
|
|
Less: Trade discount (25,500 @ 12%) |
|
|
(3,060) |
22,440 |
|
|
|
|
|
|
Jan 5 |
Sold to Rana Electricals: |
|
|
|
|
|
5 ceiling fans @ Rs 2,000 each |
|
|
10,000 |
|
|
Less: Trade discount (10,000 @ 5%) |
|
|
(500) |
|
|
20 pieces LED 5 watt @ Rs 100 each |
|
|
2,000 |
|
|
12 pieces bulb holder @ Rs 100 per dozen |
|
|
1,200 |
12,700 |
|
Total debtors |
35,140 |
Sales Account
Dr |
|
Cr |
|||||
Date |
Particulars |
LF |
Amount |
Date |
Particulars |
LF |
Amount |
Jan, 7 |
To Balance c/d |
|
44,390 |
Jan, 1 |
By Gupta Electricals A/c |
|
22,440 |
|
|
|
|
Jan 5 |
By Rana Electricals A/c |
|
12,700 |
|
|
|
|
Jan 7 |
By Cash account |
|
9,250 |
|
|
|
44,390 |
|
|
|
44,390 |
Rana Electric Account
Dr |
|
Cr |
|||||
Date |
Particulars |
LF |
Amount |
Date |
Particulars |
LF |
Amount |
Jan, 5 |
To Sales account |
|
12,700 |
Jan 5 |
By balance c/d |
|
12,700 |
|
|
|
|
|
|
|
|
|
|
|
12,700 |
|
|
|
12,700 |
Journal Entries
In the book of ABC Electricals
Date |
Particulars |
|
LF |
Amount Dr |
Amount Cr |
Jan 1 |
Gupta Electricals account |
Dr |
|
22,440 |
|
|
To Sales account |
|
|
|
22,440 |
|
(Being- sundry goods sold on credit) |
|
|
|
|
Jan 5 |
Rana Electrical account |
Dr |
|
12,700 |
|
|
To Sales account |
|
|
|
12,700 |
|
(Being- sundry goods sold on credit) |
|
|
|
|
Jan 7 |
Cash account |
Dr |
|
9,250 |
|
|
To Sales account |
|
|
|
9,250 |
|
(Being- goods sold to Max Lighting for cash) |
|
|
|
|
|
|
|
|
|
|
#####
PROBLEM AND ANSWERS |
PROBLEM: 6
Following extracted transactions are relating to Shiv Furniture House:
5 Apr: |
Purchased from Sagun Furniture: |
|
20 plastic chairs @ Rs 350 per unit |
|
5 tea tables @ Rs 2,000 per unit |
|
2 dining tables @ Rs 12,500 per unit |
|
Terms: 12% trade discount on order over Rs 50,000; payment 2/15, n/30 |
|
|
15 Apr: |
Purchased from Shikhar Furniture by cheque |
|
4 sofas sets @ Rs 11,000 per set (after 8% cash discount) |
|
|
25 Apr: |
Purchased from Kamana Decorators |
|
5 computer tables @ Rs 4,500 per unit (trade discount @ 8%) |
|
2 reading tables @ 3,500 per set |
|
|
28 Apr: |
Laptop purchased for office Rs 45,000 |
Required: (a) Purchase book; (b) Purchase account; (c) Sagun Furniture account
[Answer: (a) Rs 64,660; (b) 99,860; (c) Rs 36,960;
Cheque (4 x Rs 11,000) @ 92% = Rs 40,480]
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