Format Of Purchases Return Book :
Date | Particulars |
Debit Note No |
L.F. | Amount | Remarks | |
Details | Total | |||||
|
Note : The reason for goods returned is recorded in Remarks column.
Posting and Balancing
The individual entries and the periodic total of the Purchase Return Book are posted into the Ledger as under:
Step 1: Individual amounts are daily posted to the debit of supplier accounts by writing “To Purchases Return A/c” in the particulars column.
Step 2 : Periodic total is posted to the credit of purchases return account by writing “By Sundries as per Purchases Return Book” in the particulars column.
Illustration
Enter the following transactions in the purchases return book of Hari and post them into the ledger.
2003 Jan 5 Returned goods to Anand 5 chairs @ Rs.200 each, not in accordance with order.
Jan 14 Returned goods to Chandran 4 chairs @ Rs.200 each and 10 tables @ Rs.350 each, due to inferior quality.
Solution :
In the books of Hari
Purchases Return Book
Date |
Particulars | Debit Note No. |
L.F. | Amount | Remarks | |
Details Rs. |
Total |
|||||
2003 | ||||||
Jan 5 |
Anand | |||||
5 Chairs @ Rs.200 |
1,000 |
Not in accordance with order | ||||
14 |
Chandran | |||||
4 Chairs @ Rs.200 |
800 |
Due to inferior quality | ||||
10 Tables @ Rs.350 |
3,500 |
|||||
4,300 |
||||||
Total |
5,300 |
Ledger Accounts
Dr. Purchases Return Account Cr.
Date |
Particulars | J.F. | Amount Rs. |
Date | Part’culars | J.F |
Amount |
2003 Jan 31 |
By S ndries as p r Purchases return book | 5,300 |
Anand Account
Dr. Cr.
Date |
Particulars |
J.F.
‘ |
Amount Rs. |
Date |
Particulars |
J.F |
Amount |
2003
Jan 5 |
To Purchases Return A/c |
1,000 |
Chandran Account Dr. Cr.
Date |
Particulars |
J.F. |
Amount Rs. |
Date | Particulars |
J.F |
Amount |
2003
Jan14 |
To Purchases Return A/c. |
4,300 |