From the following information calculate total purchases.
Rs
Creditors Jan. 01, 2011
30,000
Creditors Dec. 31, 2011
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
From the following information calculate total purchases.
|
| Rs |
| Creditors Jan. 01, 2011 | 30,000 |
| Creditors Dec. 31, 2011 | 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 |
| Creditors Account | ||||
| Dr. | Cr. | |||
| Particulars | Amount Rs | Particulars | Amount Rs | |
| Cash | 1,51,000 | Balance b/d | 30,000 | |
| Return Outwards | 6,000 | Purchases – credit | 2,01,500 | |
| Bills Payable (accepted) | 54,500 | (Balancing figure) |
| |
| Balance c/d | 20,000 |
|
| |
|
|
|
|
| |
|
| 2,31,500 |
| 2,31,500 | |
|
|
|
|
| |
| Bills Payable Account | ||||
| Dr. | Cr. | |||
| Particulars | Amount Rs | Particulars | Amount Rs | |
| Cash (Bills discharged) | 44,500 | Balance b/d | 25,000 | |
|
|
| Creditors – (Bills Payable accepted) (Balancing figure) | 54,500 | |
| Balance c/d | 35,000 |
|
| |
|
|
|
|
| |
|
| 79,500 |
| 79,500 | |
|
|
|
|
| |
| Total Purchases | = Cash Purchases + Credit Purchases (as per Creditors Account) |
| | = 1,29,000 + 2,01,500 |
| | = Rs 3,30,500 |