Final Accounts

Accountancy

In TB returns are given on Dr and well as Cr side so which should be assumed as purchase returns and which should be assumed as sales returns??

Prathmesh kharul

CA Foundation

★ 3K+

13-Sep-22 17:36

615

Answers (4)

Returns on debit side is sales returns, Returns on credit side is purchase returns.

Kavin Kumar

CA Inter

★ 2K+

13-Sep-22 18:16

The returns which are on the debit side represents sales returns because these goods which are sold are returned by the customers. Here we are receiving the goods. So we are representing sales returns on debit side. Purchase returns means the goods are returned to the supplies. So here we are giving the goods. So we are representing purchase returns on credit side.

siva chaitanya

CA Final

★ 13K+

13-Sep-22 20:51

Dr side is sales returns As sale is credit side so return on debit side In the same way purchase is Dr side so purchase returns will be on credit side

Thanusha Lakshmi

CA Final

★ 3K+

13-Sep-22 21:23

Debit side Return on trial balance indicate sales return Credit side Return on trial balance indicate purchase return

Mohammad Badurul

CA Final

★ 10K+

29-Sep-22 15:41