From the following information prepare the Purchase Book of M/s Victory & Company who deals in eye care business : (i) Purchased from Pink &…
CA Foundation · Accounting · RTP · May 2026
From the following information prepare the Purchase Book of M/s Victory & Company who deals in eye care business : (i) Purchased from Pink & Company on credit:10 pairs of black sun glasses @800 per Pair.5 pairs of brown sun glasses @900 per pair Less: Trade Discount @10% (ii) Purchased Computer from M/s. Glory. Enterprises on credit for 20,000. (iii) Purchased from Blue & Company in cash:5 pairs of black lens @700 per pair15pairs of brown lens@100 per pair Less: Trade Discount @15%
Suggested Answer and Working Notes:
Purchases Book Date Particulars L.F. Amount ₹ (i) Pink & Co. 10 pair of black sun glasses @800 8,000 5 pair of Brown sun glasses @900 4,500 12,500 Less:10% trade discount (1, 250) 11,250 Note: Purchases made in cash are entered in cash book not in purchase book.Purchase of computer cannot be entered in the Purchase Book but entered in journal proper.
Topics: Subsidiary Books
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