Page 34 - Chapter-11.pmd

470 Accountancy

Bills receivable endorsed to creditors 4,500
Bills receivable endorsed to creditors dishonoured 1,800
Return inwards 3,700
[Ans : Credit purchases : Rs. 2, 56,350].
17. From the following information calculate total purchases.
Rs.
Creditors Jan. 01, 2013 30,000
Creditors Dec. 31, 2013 20,000
Opening balance of Bills payable 25,000
Closing balance of Bills payable 35,000
Cash paid to creditors 1,51,000
Bills discharged 44,500
Cash purchases 1,29,000
Return outwards 6,000
[Ans : Total purchases : Rs. 3,30,500].
18. The following information is given
Rs.
Opening creditors 60,000
Cash paid to creditors 30,000
Closing creditors 36,000
Returns Inward 13,000
Bill matured 27,000
Bill dishonoured 8,000
Purchases return 12,000
Discount allowed 5,000
Calculate credit purchases during the year
[Ans : Credit purchases : Rs. 37,000].
19. From the following, calculate the amount of bills accepted during the year.
Rs.
Bills payable as on April 01, 2013 1,80,000
Bills payable as on March 31, 2014 2,20,000
Bills payable dishonoured during the year 28,000
Bills payable honoured during the year 50,000
[Ans : Bills accepted : Rs. 1,18,000].
20. Find out the amount of bills matured during the year on the basis of
information given below ;
Rs.
Bills payable dishonoured 37,000
Closing balance of Bills payable 85,000
Opening balance of Bills payable 70,000
Bills payable accepted 90,000
Cheque dishonoured 23,000
[Ans : Bills matured : Rs. 38,000].
21. Prepare the bills payable account from the following and find out missing
figure if any :

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