4 Marks Question

Question 14 Marks

Distinguish between Sales Book and Sales Account. Difference between Sales Book and Sales Account Basis Sales Book.

Answer

Difference between sales Book and sales Account.

	Basis	Sales Book	Sales Account
1.	Part	It is part of journal Book.	It is part of Ledger.
2.	Format	Like a ledger account, it does not have debit and credit columns.	It has debit and credit columns.
3.	Contents	Only credit sales of goods are recorded.	Credit as well as cash sales of goods are recorded.
4.	Amount	Total amount of sales book is posted to the sales account periodically.	Balance in the account is transferred to the Trading Account.

Question 24 Marks

Prepare Sales Return Book of Shiv Shankar, Delhi from the following transactions and post them into Ledger:

Question 34 Marks

Prepare Returns Inward and Return Outward Books of Manoj, Mumbai from the following transactions and post them into Ledger Accounts:

Answer

Solution is as follows:

Question 44 Marks

Prepare Purchases Return Book of Aruna Stores, Kolkata from the following transactions and post them into Ledger:

Question 54 Marks

Name the books of original entry where the following transactions will be recorded with reasons thereof:

Goods purchased from Ram Lal for ₹ 5,000 on credit.
Provision for doubtful debts created @ 5% on debtors with books value of ₹ 10,000.
Defective goods sold to Babita on credit worth ₹ 4,000 were returned by her.
Purchased furniture on credit from Mr. Ratan Singh for ₹ 15,000 for use in the business.

Answer

Question 64 Marks

Record the following transactions in the Purchases Return Book of Kamla Stores, Delhi for April, 2019:

2019
April 6	Returned goods to Ramesh Brothers, Delhi purchased for ₹ 5,000 plus CGST and SGST @ 6% each
April 8	Returned goods to Sohan Brothers, Meerut purchased for ₹ 10,000 plus IGST @ 12%
April 17	Returned goods to Mahesh Brothers of ₹ 2,000 plus CGST and SGST @ 6% each

Account 4 Marks Question