Page 15 - Chapter-11.pmd

Accounts from Incomplete Records 451

Total Creditors Account
Dr. Cr.
Date Particulars J.F. Amount Date Particulars J.F. Amount
Rs. Rs.
Discount received 5,000 Balance b/d 50,000
Cash 80,000 Purchases (credit) 1,20,000 2
(balancing figure)
Bills payable (transfer 45,000
from bills payable
account)
Balance c/d 40,000
1,70,000 1,70,000
Working Notes
(i) Credit purchases have been computed from total creditors account as Rs. 1,20,000 .
2
Cash purchases given are Rs. 8,000. Total purchases will be Rs. 1,20,000 + Rs. 8,000
= Rs. 1,28,000.
(ii) Credit sales have been computed from total debtors account as Rs. 1,79,000 and cash
sales are given as Rs. 10,000. Total sales will be Rs. 1,79,000 + Rs. 10,000
= Rs. 1,89,000.

Illustration 4
From the following information supplied by Ms. Sudha, calculate the amount of ‘Net Sales’
Rs.
Debtors on April 01, 2013 65,000
Debtors on March 31, 2014 50,000
Opening balance of bills receivable as on April 01, 2013 23,000
Closing balance of bills receivable as on March 03, 2014 29,000
Cash received from debtors 3,02,000
Discount allowed 8,000
Cash received against bills receivable 21,000
Bad debts 14,000
Bill receivalbes (dishonoured) 20,000
Cash sales 2,25,000
Sales return 17,000

Total Bills Receivable Account
Dr. Cr.
Date Particulars J.F. Amount Date Particulars J.F. Amount
Rs. Rs.
Opening balance 23,000 Cash (bills honoured) 21,000
Bills receivable
Debtors (Bills receivable ) 47,000 dishonoured 20,000
(balancing figure) Closing balance 29,000
70,000 70,000

2015-16