From the following information prepare the Purchase Book of M/s Pawan & Company: (i) Purchased from Red & Company on credit:30 pairs of…
CA Foundation · Accounting · MTP · April 2025
From the following information prepare the Purchase Book of M/s Pawan & Company: (i) Purchased from Red & Company on credit:30 pairs of black shoes.@800 per pair.15 pairs of brown shoes @900 per pair Less: Trade Discount @10% (ii) Purchased Computer from M/s. Rahul. Enterprises on credit for 1,20,000. (iii) Purchased from Blue & Company on credit:15 pairs of black shoes @700 per pair45pairs of brown shoes@100 per pair Less: Trade Discount @15%.
Suggested Answer and Working Notes:
Purchases book Date Particulars L.F. Amount ₹ (i) Red & Co. 30 pairs of black shoes @800 24,000 15 pairs of Brown shoes @900 13,500 37,500 Less:10% trade discount (3, 750) 33,750 (ii) Blue & Co. 15 pairs of black shoes @700 10,500 45 pairs of Brown shoes @100 4,500 15,000 Less:15% trade discount (2, 250) 12,750 Total 46,500 Note: Purchase of computer cannot be entered in the Purchase Book but entered in journal proper.
Topics: Subsidiary Books
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