What do you mean by purchase return, accounting, Basic Statistics

Assignment Help:

What do you mean by Purchase Return? Give an example.

Ans. Sometime the goods an organization orders are not up to the mark and they are not supposed to keep or accept so the same needs to be returned back to its supplier or vendor or seller, it can be whole of the goods or a part of the goods. For example a firm orders for 500 boxes of Pencil, on delivery it is found that the 100 boxes are broken, so all the 100 boxes will be returned back to the company, first the entry of whole 500 boxes will be recorded and then the returned 100 boxes will be recorded in the purchase return book and at the end of the month the total of Purchase Return it will be transferred to the Purchase Return Book.

 


Related Discussions:- What do you mean by purchase return, accounting

Process costing - accounting for scrap.., a company has two processes whose...

a company has two processes whose details are as follows: Materials 3000kg @ k0.30/kg, labour K120 for process 1 and material 2000kg @ k0.40/kg and labour k84 for process 2. actual

Generate samples for each distribution, Generate 1000 samples for each of t...

Generate 1000 samples for each of the following continuous random variables: (a). Exponential distribution with λ = 1.2 and λ = 2.1 (b). Normal distribution with μ = 3.1, σ

Introduction of management accounting, Introduction of Management Accountin...

Introduction of Management Accounting Management accounting or managing sales is worried with the conditions and use of sales details to professionals within companies, to off

Classification of raw data with example tables, Classification of raw data ...

Classification of raw data on the basis of homogeneous characteristics

Revenue recognition assigment, When selling books through insaltalments and...

When selling books through insaltalments and internet, what is an alternative selling method for better revenue recording?

Bunco toss, The game of "Bunco" is played with three standard dice. "Bunco"...

The game of "Bunco" is played with three standard dice. "Bunco" occurs when all three dice show the same number of spots. What is the probability of tossing a "Bunco" on the first

Women tend to work out together, You notice at the gym that it appears more...

You notice at the gym that it appears more women tend to work out together, while more men tend to work out alone.  To show whether this difference is significant, you collect data

Find out the average and probability, Question 1:      (a)  The time it...

Question 1:      (a)  The time it takes to deliver a pizza after an order is placed is uniformly distributed between 20 and 50 minutes. What is the probability that a pizza wil

Gain bandwidth product, Expertsmind.com  brings you unique solution in  phy...

Expertsmind.com  brings you unique solution in  physics What is Gain bandwidth product (GBW OR GB?)    Refer to the multiple of the open loop gain (continuous for a

Identification of critical data elements, Check numbers for No Neighboring ...

Check numbers for No Neighboring States with Video Gaming, 2% inflation, 4 Average Bets Numbers for 2018 Average Return -0.082 Net Income -$2,052,859 End of Year Cash $5,0

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd