From the following transactions of Shri Gadda Electronics stores, prepare columnar purchase book. Shri Gadda Electronics deals with T.V., Refrigerator and Washing machine.





2015

May 1. Purchased 10 T.V. set at 30,000 each set, 5 Refrigerator at 15,000 per piece and 2 Washing Machine at 18,000 per piece from Shri Daya Electronics Stores. Credit period 1 month . Invoices no. 100.

7. Purchased from Shri Tarak Electronics Stores, 5 piece T.V. at 25,000 per piece and 10 Refrigerator at 16,000 per piece at 10% Trade Discount. Received invoice no. 151. Half of the amount paid immediately.

12. Purchased cycle of 5,000 from Shree Ambey Cycle Store.

20. Purchased 5 Refrigerator at 20,000 per piece and 10 Washing Machine at 15,000 per piece at 10% Trade Discount and 5% Cash Discount from Shree Atmaram Electronics Store and amount paid immediately.

25. Placed an order to Smt. Babita for supplying 20 piece T.V. sets at 30,000 per piece and 5 Washing Machines at 21,000 per piece.

31. From Shree Gokuldham Electronics Store, purchased 5 piece T.V. sets at 30,000 per piece and 5 Washing machine at 23,000 per piece. Trade discount at 10% invoice no. 123. 

Solution:

In the Books Shri Gadda Electronics Stores.

Purchase Book

  

Date 

Name of Supplier 

InvoicNo. 

LF. 

T.V. 

Refrigerator  

Washing machine 

Total Amount 

2015

May 1 

Shri Daya Electronics 

100 

 

3,00,000 

75,000 

36,000 

4,11,000 

7 

Shri Tarak Electronics 

151 

 

1,12,500 

1,44,000 

       -  

2,56,500 

31 

Shri Gokuldham  

Electronics  

123 

 

1,35,000 

        -- 

1,03,500 

2,38,500 

 

 

 

 

5,47,500 

2,19,000 

1,39,500 

9,06,000 



Explanation:

1. Purchased 10 T.V. set at 30,000 each set, 5 Refrigerator at 15,000 per piece and 2 Washing Machine at 18,000 per piece from Shri Daya Electronics Stores. Credit period 1 month . Invoices no. 100. 
➡ T.V., Refrigerator and Washing Machine are purchased on credit for 1 month period. Hence Recorded in Purchase Book.


7. Purchased from Shri Tarak Electronics Stores, 5 piece T.V. at 25,000 per piece and 10 Refrigerator at 16,000 per piece at 10% Trade Discount. Received invoice no. 151. Half of the amount paid immediately.
➡ Purchased from Shri Tarak Electronics Stores and 10% Trade Discount. Half of the amount paid immediately means half of the goods are on credit. 

12. Purchased cycle of 5,000 from Shree Ambey Cycle Store.

➡ Purchased cycle. No Entry in the books because Cycle is not mentioned in the question.


20. Purchased 5 Refrigerator at 20,000 per piece and 10 Washing Machine at 15,000 per piece at 10% Trade Discount and 5% Cash Discount from Shree Atmaram Electronics Store and amount paid immediately.

➡ Purchased 5 Refrigerator, 10 Washing Machine and received 10% Trade Discount and 5% Cash Discount. Here Cash discount means all the things are purchased by paying the cash. Therefore received cash discount.

25. Placed an order to Smt. Babita for supplying 20 piece T.V. sets at 30,000 per piece and 5 Washing Machines at 21,000 per piece.
➡ Placed an order of T.V. and Washing Machines. No entry in the books of accounts because the order placed is not yet received. 


31. From Shree Gokuldham Electronics Store, purchased 5 piece T.V. sets at 30,000 per piece and 5 Washing machine at 23,000 per piece. Trade discount at 10% invoice no. 123. 

➡ Purchased 5 piece T.V. sets and 5 Washing machine on credit from shree gokuldham electronics store.

Comments

Popular posts from this blog

Sun and Moon are Partners in Partnership Firm sharing Profits and Losses equally. You are required to give effects of Adjustments with the help of following information

CLASS 11th BOOK KEEPING & ACCOUNTANCY

Accounts Solutions | Class 12th Book-Keeping and Accountancy | Maharashtra Board HSC |

Virat Kohli - Profile Information

Attribute Details
Name Virat Kohli
Born November 5, 1988 (35 years)
Birth Place Delhi, India
Height 5 ft 9 in (175 cm)
Role Batsman
Batting Style Right Handed Bat
Bowling Style Right-arm medium