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From the following information prepare the general ledger adjustment A/C. In the creditors ledger. Opening balance of sundry creditors of Rs.280100, credit purchases Rs.276000, Payment to creditors Rs.18500 , Return outward Rs.22400 ,Bills payable accepted Rs.53000, Bills payable dishonoured Rs.5000 .?
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From the following information prepare the general ledger adjustment A...
General Ledger Adjustment A/C for Sundry Creditors
- Opening Balance of Sundry Creditors: Rs. 280100
- Credit Purchases: Rs. 276000
- Payment to Creditors: Rs. 18500
- Return Outward: Rs. 22400
- Bills Payable Accepted: Rs. 53000
- Bills Payable Dishonoured: Rs. 5000
Explanation:
The above information is related to the transactions of the company with its sundry creditors. The opening balance of sundry creditors is Rs. 280100, which means the company owes this amount to its creditors at the beginning of the year.
During the year, the company made credit purchases of Rs. 276000 from its creditors. It also made payment of Rs. 18500 to its creditors. Additionally, it returned goods worth Rs. 22400 to its creditors.
The company also accepted bills payable worth Rs. 53000 from its creditors. However, bills payable worth Rs. 5000 were dishonoured by the company.
To prepare the general ledger adjustment account for sundry creditors, we need to take into account all the above transactions. The opening balance of Rs. 280100 will be debited to the account, as it is an amount owed by the company to its creditors. The credit purchases of Rs. 276000 will also be debited to the account, as it increases the amount owed by the company to its creditors.
The payment of Rs. 18500 and the return outward of Rs. 22400 will be credited to the account, as they reduce the amount owed by the company to its creditors. The bills payable accepted of Rs. 53000 will be debited to the account, as it increases the company's liability towards its creditors. The bills payable dishonoured of Rs. 5000 will be credited to the account, as it reduces the company's liability towards its creditors.
Finally, the total of the debits and credits will be calculated, and the difference between the two will be posted to the sundry creditors account in the creditors ledger.
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From the following information prepare the general ledger adjustment A/C. In the creditors ledger. Opening balance of sundry creditors of Rs.280100, credit purchases Rs.276000, Payment to creditors Rs.18500 , Return outward Rs.22400 ,Bills payable accepted Rs.53000, Bills payable dishonoured Rs.5000 .?
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From the following information prepare the general ledger adjustment A/C. In the creditors ledger. Opening balance of sundry creditors of Rs.280100, credit purchases Rs.276000, Payment to creditors Rs.18500 , Return outward Rs.22400 ,Bills payable accepted Rs.53000, Bills payable dishonoured Rs.5000 .? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about From the following information prepare the general ledger adjustment A/C. In the creditors ledger. Opening balance of sundry creditors of Rs.280100, credit purchases Rs.276000, Payment to creditors Rs.18500 , Return outward Rs.22400 ,Bills payable accepted Rs.53000, Bills payable dishonoured Rs.5000 .? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for From the following information prepare the general ledger adjustment A/C. In the creditors ledger. Opening balance of sundry creditors of Rs.280100, credit purchases Rs.276000, Payment to creditors Rs.18500 , Return outward Rs.22400 ,Bills payable accepted Rs.53000, Bills payable dishonoured Rs.5000 .?.
From the following information prepare the general ledger adjustment A/C. In the creditors ledger. Opening balance of sundry creditors of Rs.280100, credit purchases Rs.276000, Payment to creditors Rs.18500 , Return outward Rs.22400 ,Bills payable accepted Rs.53000, Bills payable dishonoured Rs.5000 .? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about From the following information prepare the general ledger adjustment A/C. In the creditors ledger. Opening balance of sundry creditors of Rs.280100, credit purchases Rs.276000, Payment to creditors Rs.18500 , Return outward Rs.22400 ,Bills payable accepted Rs.53000, Bills payable dishonoured Rs.5000 .? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for From the following information prepare the general ledger adjustment A/C. In the creditors ledger. Opening balance of sundry creditors of Rs.280100, credit purchases Rs.276000, Payment to creditors Rs.18500 , Return outward Rs.22400 ,Bills payable accepted Rs.53000, Bills payable dishonoured Rs.5000 .?.
Solutions for From the following information prepare the general ledger adjustment A/C. In the creditors ledger. Opening balance of sundry creditors of Rs.280100, credit purchases Rs.276000, Payment to creditors Rs.18500 , Return outward Rs.22400 ,Bills payable accepted Rs.53000, Bills payable dishonoured Rs.5000 .? in English & in Hindi are available as part of our courses for B Com.
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From the following information prepare the general ledger adjustment A/C. In the creditors ledger. Opening balance of sundry creditors of Rs.280100, credit purchases Rs.276000, Payment to creditors Rs.18500 , Return outward Rs.22400 ,Bills payable accepted Rs.53000, Bills payable dishonoured Rs.5000 .?, a detailed solution for From the following information prepare the general ledger adjustment A/C. In the creditors ledger. Opening balance of sundry creditors of Rs.280100, credit purchases Rs.276000, Payment to creditors Rs.18500 , Return outward Rs.22400 ,Bills payable accepted Rs.53000, Bills payable dishonoured Rs.5000 .? has been provided alongside types of From the following information prepare the general ledger adjustment A/C. In the creditors ledger. Opening balance of sundry creditors of Rs.280100, credit purchases Rs.276000, Payment to creditors Rs.18500 , Return outward Rs.22400 ,Bills payable accepted Rs.53000, Bills payable dishonoured Rs.5000 .? theory, EduRev gives you an
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