Prepare purchase book in the books of Shri Suresh.

 2015

Oct. 1. Purchased goods of 10,000 from Dipak on one mouth credit.

3. Purchased goods of 20,000 from Sardar Stores at 10% trade discount Invoice n. 116

7. Purchased goods  of 18,00 from Pankaj on Cash.

15. Placed order with Rajesh for supply goods of 20,000 at 10% trade discount.

20. Purchased furniture of 16,000 from Vyas Furniture Mart on one month credit.

21. Rajesh has sent goods as per order and sent invoice no. 350 after 1,000 for railway freight.

24. Purchased goods of 14,000 at 5% cash discount.

25. Purchased goods of 30,000 from Nilesh at 10% trade discount and half of the amount paid immediately by cheque.

26. Purchased goods of 15,000 from Chirag at 10% trade discount and 5% cash discount. Amount paid immediately.

30. Purchased goods of 40,000 from Nitin Invoice no. 151.

 

Solution:

In the Books of Shri Suresh

Purchase Book

Date	Particulars	Invoice No.	L.F	Amount
2015 Oct.
1	Dipak			10,000
3	Sardar Stores	116		18,000
21	Rajesh	350		18,000
25	Nilesh			27,000
30	Nitin	151		40,000
				1,13,000

Explanation :

2015 Oct.

1. Purchased goods of 10,000 from Dipak on one mouth credit.

➡ Mr. Suresh has purchased goods from dipak on credit for one month. This transactions is an credit transaction. Hence we write in Purchase book.

3.Purchased goods of 20,000 from Sardar Stores at 10% trade discount Invoice n. 116

➡ Purchased goods of 20,000 from Sardar Stores this is an credit transactions because it is not mentioned that goods are purchase and paid the cash. Hence we write this transaction in Purchase book.

7. Purchased goods  of 18,00 from Pankaj on Cash.

➡ Purchased goods from Pankaj on Cash that means goods purchased on cash. No entry in Purchase Boom require.

15. Placed order with Rajesh for supply goods of 20,000 at 10% trade discount. 

➡ Placed order with Rajesh means the goods are not delivered yet. It would be deliver in future. Therefore no entry needed in Purchase Book till the goods received.

20. Purchased furniture of 16,000 from Vyas Furniture Mart on one month credit.

➡ Purchased furniture  from Vyas Furniture Mart on one month credit. Any Assets purchase or sold it will not record in Purchas book.

21. Rajesh has sent goods as per order and sent invoice no. 350 after 1,000 for railway freight.

➡ Finally the goods received from Rajesh which Suresh order on 15th Oct. Freight will record in the Journal proper.

24. Purchased goods of 14,000 at 5% cash discount.

➡ No entry, because goods are not purchased on credit.

25. Purchased goods of 30,000 from Nilesh at 10% trade discount and half of the amount paid immediately by cheque.

➡ Purchased goods of 30,000 from Nilesh. This transaction is an credit transaction must record in Purchase Book.

26. Purchased goods of 15,000 from Chirag at 10% trade discount and 5% cash discount. Amount paid immediately.

➡ No Entry, because goods are not purchased on credit.

30. Purchased goods of 40,000 from Nitin Invoice no. 151.

➡ Goods purchased from Nitin on credit and invoice no. 151, Must record in the Purchase Book.