Accountancy, asked by saniyadhal8, 2 months ago

3 From the following prepare purchase book and purchase returns book in the books account of Gujarat Traders : 2018 Jan. 1 Goods purchased of 1,00,000 at 5 % trade discount from Punjab Stores. 3 Goods purchased of * 60,000 on Credit of 1 month from Maharashtra Store Trade discount 10 %, bill no. 330. 10 Goods purchased of 750,000 from Kerala Stores on credit and 50 % is paid immediately. 1 17 goods is returned to Maharashtra Stores. Along with debit note no. 43 of appropria amount is sent. 21 Goods purchased of 7 40,000 at 10 % trade discount from Rajasthan Stores. Rajast. Stores has sent invoice no. 160 after adding 5 % GST and labour 400. 25 Goods purchased of 50,000 on credit from Uttar Pradesh Stores. Credit peria is of 2 months and trade discount is 10 %. Bill no. 380. 29 Out of total goods purchased from Uttar Pradesh Stores, 30 % goods is retume! Along with goods debit note 44 is sent. 30 An order of goods purchased of 80,000 at 10 % trade discount is placed to Madh, Pradesh Stores. 31 Goods of 30,000 purchased at 10 % trade discount and 5 % cash discount on cast from Haryana Stores.​

Answers

Answered by rameshrajput16h
1

Answer:

A Subsidiary book or a Day book is a book of Original entry. Subsidiary books contains the records of similar transactions. An organization maintains six kinds of Subsidiary books. They are Cash book, Purchase book, Purchase Return book, Sales book, Sales return book, and Journal proper.

Organizations that do not maintain the Subsidiary books maintain Journal for all the transactions. A Journal holds records of all entries irrespective of their nature. Thus, Journal does not bifurcate the entries on the basis of their nature.

Purchase Book

Purchase Book

Purchase book is a Subsidiary book. The Purchase book or Purchase day book contains the record of all credit-purchase. Cash book accommodates the records of all goods-purchase.

A Purchase book does not hold the record of purchases of assets. The Journal proper contains those records. The entries are recorded in the Purchase book from source documents. Invoices or bills received from the suppliers of goods serve as the source documents.

We make the entries in the Purchase book with the net amount of the invoice. Which is why a Purchase book does not contain trade discount and other details which are there on the invoice.

Every month the total of the Purchase book is posted on the Debit side of the Purchases A/c. Purchases A/c is a ledger A/c. However, the individual accounts of the suppliers may be posted daily. Also, where the volume of transactions is too large, the entries in the ledger can be posted weekly or fortnightly. Given below is the performa of the Purchase book:

Answered by jaisakthi23nov
0

Explanation:

Particulars

Invoice No.

L.F.

Details

Cost

Input

CGST

Input SGST

Total

June 05

Mohan Lal & Company, Kanpur

20 Godrej Chairs @ ₹ 2,000 each

40,000

5 Godrej Tables @ ₹ 6,000 each

30,000

70,000

Less: 20% T.D.

14,000

56,000

Add: CGST @ 6%

3,360

Add: SGST @ 6%

3,360

62,720

56,000

3,360

3,360

62,720

June 10

Bharat Bhushan & Sons, Varanasi

5 Almirahs @ ₹ 12,000 each

60,000

2 Revolving Chairs @ ₹ 20,000 each

40,000

1,00,000

Less: 10% T.D.

10,000

90,000

Add: CGST @ 6%

5,400

Add: SGST @ 6%

5,400

1,00,800

90,000

5,400

5,400

1,00,800

June 14

Surya Traders, Lucknow

80 Desks @ ₹ 2,500 each

2,00,000

10 Sofa Sets @ ₹ 20,000 each

2,00,000

4,00,000

Less: 15% T.D.

60,000

3,40,000

Add: CGST @ 6%

20,400

Add: SGST @ 6%

20,400

3,80,800

3,40,000

20,400

20,400

3,80,800

4,86,000

29,160

29,160

5,44,320

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