Question No 07 Chapter No 8 – D.K Goal 11 Class

Question No 07 Chapter No 8

Purchase Return Book

07Prepare Returns Inward and Returns Outward Books from the following in the books of Modern Shoes, Kolkata West Bengal assuming CGST @ 6% and SGST @ 6% :

2018
Jan.3	Returned to Bata Shoe Co., Kolkata
	50 pairs of Chappals being not up to the approved sample @ 600 per pair
	Less: Trade Discount 20%
Jan.10	Guru Nanak & Co., Kolkata, returned to us:-
	10 pairs of Shoes, for being defective @ 1,200 per pair
	Less: Trade Discount 10%
Jan.15	Returned to Baluja Shoe Co., Kolkata
	20 pairs of ladies chappals @ 500 per pair
	Less: 15%
Jan.22	Partap Footwear Co., Patna Bihar, returned to us:-
	50 pairs of Shoes @ 1,400 per pair
	Less: 5%
Jan.27	Manoj Shoe Co., Kolkata, returned to us :
	20 pairs of Sandals @ 1,000 per pair
Jan.31	Returned to Liberty Shoe Co., Ranchi Jharkhand defective shoes worth 5,000.

The solution of Question No 07 Chapter No 8: –

Returns Outward Book of Modern Shoes, Kolkata West Bengal
Date	Particular	Detail	Cost	Input CGST	Input SGST	Input ISGT	Total
2018 Jan.
3	Bata Shoe Co., Kolkata
	50 pairs of Chappals @ Rs 600 per pair	30,000
	Less: 20% Trade Discount	6,000
		24,000
	Add: 6% CGST	1,440
	Add: 6% CGST	1,440
		26,880	24,000	1,440	1,440		26,880
15	Baluja Shoe Co., Kolkata
	20 pairs of Ladies Chappals @ Rs 500 per pair	10,000
	Less: 15% Trade Discount	1,500
		8,500
	Add: 6% CGST	510
	Add: 6% SGST	510
		9,520	10,000	510	510		9,520
31	Liberty Shoe Co., Ranchi Jharkhand
	Defective Goods	5,000
	Add:12% IGST	600
		5,600	5,000			600	5,600
			37,500	1,950	1,950	600	42,000

 

Returns Inward Book of Modern Shoes, Kolkata West Bengal
Date	Particular	Detail	Cost	Output CGST	Output SGST	Output ISGT	Total
2018 Jan.
10	Guru Nanak & Co., Kolkata
	10 pairs of Shoes @ Rs 1,200 per pair	12,000
	Less: 10% Trade Discount	1,200
		10,800
	Add: 6% CGST	648
	Add: 6% CGST	648
		12,096	10,800	648	648		12,096
22	Partap Footwear Co., Patna Bihar
	50 pairs of Shoe @ Rs 1,400 per pair	70,000
	Less: 15% Trade Discount	3,500
		66,500
	Add: 12% IGST	7,980
		74,480	10,000			7,980	74,480
27	Manoj Shoe Co., Kolkata
	20 pairs of Sandals @ Rs 1,000 per pair	20,000
	Add: 6% CGST	1,200
	Add: 6% SGST	1,200
		22,400	20,000	1,200	1,200		22,400
			97,300	1,848	1,848	7,980	1,08,976

 

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D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution

• Chapter 1 Evolution of Accounting & Basic Accounting Terms
• Chapter 2 Accounting Equations
• Chapter 3 Meaning and Objectives of Accounting
• Chapter 4 Double Entry System
• Chapter 5 Books of Original Entry – Journal 
• Chapter 6 Accounting for Goods and Service Tax (GST) (Coming soon)
• Chapter 7 Books of Original Entry – Cash Book (Coming soon)
• Chapter 8 Books of Original Entry – Special Purpose Subsidiary Books (Coming soon)
• Chapter 9 Ledger (Coming soon)
• Chapter 10 Trial Balance and Errors (Coming soon)
• Chapter 11 Bank Reconciliation Statement (Coming soon)
• Chapter 12 Depreciation (Coming soon)
• Chapter 13 Bills of Exchange (Coming soon)
• Chapter 14 Generally Accepted Accounting Principles(GAAP) 
• Chapter 15 Bases of Accounting
• Chapter 16 Accounting Standards and International Financial Reporting Standard(IFRS) (Coming soon)
• Chapter 17 Capital and Revenue 
• Chapter 18 Provisions and Reserves 
• Chapter 19 Final Accounts (Coming soon)
• Chapter 20 Final Accounts – With Adjustments (Coming soon)
• Chapter 21 Errors and their Rectification (Coming soon)
• Chapter 22 Accounts from Incomplete Records – Single Entry System (Coming soon)
• Chapter 23 Accounts of Not-for-Profit Organisations (Coming soon)
• Chapter 24 Computerised Accounting System (Coming soon)
• Chapter 25 Introduction to Accounting Information System (Coming soon)

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