Purchases Day Book example. Image credit Frank Wood’s Business Accounting 1.
ZIMSEC O Level Principles of Accounts Notes: Purchases Journal and Purchases Ledger example
- J Dzungu has the following purchases for the month of May 2015:
- May 1 From D Muti: 4 DVDs at $60 each, 3 mini hi-fi units at $240 each. Less 25 per cent trade
discount. - 3 From F Rugare: 2 washing machines at $280 each, 5 vacuum cleaners at $80 each, 2 dishwashers
at $200 each. Less 20 per cent trade discount. - 15 From B Sakarombe: 1 hi-fi unit at $600, 2 washing machines at $320 each. Less 25 per cent
trade discount. - 20 From J Dube: 6 CD/radios at $45 each. Less 331/3 per cent trade discount.
- 30 From R Feruka: 4 dishwashers at $240 each. Less 20 per cent trade discount.
Required:
(a) Enter up the purchases day book for the month.
(b) Post the transactions to the suppliers’ accounts.
(c) Transfer the total to the purchases account.
Solution
First you need to deduct trade discount as it is not part of the double entry system.
| Purchases Day Book | |||||
|---|---|---|---|---|---|
| Date: May 2015 | Details | Invoice | Folio | Amount | Gross |
| 1 | D Muti | D9393 | PL45 | 720 | 960 |
| 3 | F Rugare | R4774 | PL46 | 1088 | 1360 |
| 15 | B Sakarombe | T78 | PL47 | 930 | 1240 |
| 20 | J Dube | K123 | PL48 | 180 | 270 |
| 30 | R Feruka | G134 | PL49 | 768 | 960 |
| Total | 3686 | 4790 |
| Purchase Ledger | ||||||||
|---|---|---|---|---|---|---|---|---|
| D Muti | ||||||||
| Date | Details | Folio | Amount | Date | Details | Folio | Amount | |
| 1 May | Purchases | PL45 | 720 | |||||
| F Rugare | ||||||||
| Date | Details | Folio | Amount | Date | Details | Folio | Amount | |
| 3 May | Purchases | PL46 | 1088 | |||||
| B Sakarombe | ||||||||
| Date | Details | Folio | Amount | Date | Details | Folio | Amount | |
| 15 May | Purchases | PL47 | 930 | |||||
| J Dube | ||||||||
| Date | Details | Folio | Amount | Date | Details | Folio | Amount | |
| 20 May | Purchases | PL48 | 180 | |||||
| R Feruka | ||||||||
| Date | Details | Folio | Amount | Date | Details | Folio | Amount | |
| 30 May | Purchases | PL49 | 768 |
| General Ledger | ||||||||
|---|---|---|---|---|---|---|---|---|
| Purchases Account | ||||||||
| Date | Details | Folio | Amount | Date | Details | Folio | Amount | |
| 31 May | Credit Purchases (May) | 3686 |
To access more topics go to the Principles of Accounts Notes page.
