Purchase returns, Accounting Basics

What is Purchase Returns?

Posted Date: 2/12/2013 5:15:19 AM | Location : United States

A purchase return or return outward arises when a business or purchaser returns to a supplier goods previously bought from the supplier. The item may be returned for a range of different reasons.

Posted by Jack | Posted Date: 2/12/2013 5:17:58 AM

Related Discussions:- Purchase returns, Assignment Help, Ask Question on Purchase returns, Get Answer, Expert's Help, Purchase returns Discussions

Write discussion on Purchase returns
Your posts are moderated
Related Questions
At the end of 2011 Samuda reported a balance in Account receivable of $620,000 and estimated that $12,400 of this account would likely be uncollectible. The allowance for doubtful

At December 31, 2011 and 2010, Miley Corp. had 180,000 shares of common stock and 10,000 shares of 5%, $100 par value cumulative preferred stock outstanding. No dividends were decl

Determine the symbols of Net Sales for the Period -    Cost of Goods Sold =    Gross Profit -    Operating Expenses +    Other Income -      Other Expenses =

UNITs UNIT COST UNIT SALE PRICE AUG 3 SALE 45 $ 83 8 PURCHASE 75 $ 52 21 SALE 70 $ 85 30 PURCHASE 10 $ 55 Decorative steel began August with 55 units of iron inventory th

1) A) Suppose Jean Splicer, an investor, buys $300,000 of shares of stock in a diversified bundle of Bio-tech firms and exactly one year later sells those shares for $315,000. Assu

The Braggs & Struttin' Company produces an engine for carpet cleaners called the "Snooper." Budgeted cost and revenue data for the "Snooper" are given below, depends on sales of 40

After the closing entries are posted to the ledger, each revenue account will have a zero balance: a. a zero balance, b. a debit balance, c. a credit balance, or d. e

Importance of The bank statement Bank sends out bank statements each month. It's significant that this statement and checking account balance balances. There are certain items

want a question of general jouranal , t account ,traial balance , income statement and balance sheet