Define Purchase return
Describe the term Purchase return with suitable example?
Expert
Purchase return signifies the return of goods that is received by businessman due to any fault/mistake in goods.
Assume that, you have bought 10 computers for selling. However when there is fault in one computer and you return this to your supplier, then this will be purchase return.
Atypically large proceeds made by an individual or company from commercial activity. An abnormal profit exceeds the normal chance for profit derived from labor costs and capital and considered normal profit. Abnormal profit in a business resides of monopoly and consortium profits.
To transfer amounts from retained earnings to contributed capital through stock dividends. The effect is to decrease retained earning and increase the stock account. Stock dividends also permanently retain the earnings in the corporation by moving it out of the retain
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