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From the particulars given below, prepare a purchase book of Ramanand Cloth Merchant:

 

2016

 

June 1

Purchased goods from Ambika Mills on credit.

 

10 meter linen fabric @ Rs.560 per meter.

 

18 meter chiffon fabric @ Rs.600 per meter.

 

Less: Trade discount @ 10%

 

 

June 6

Cash purchases from Century Mill.

 

8 meter designer fabric @ Rs.725 per meter.

 

 

June 9

Bought goods on credit from Swadeshi Mills.

 

24 meter polyster shirt fabric @ 580 per meter.

 

19meter satin fabric @ 660 per meter.

 

Less: Trade discount @ 10%

 

 

June 17

Purchased computer from M/s Computer Solutions Co. on credit for office use @ Rs.13,250.

 

 

June 25

Purchased goods from Shriram Mills on credit.

 

17 meter printed fabric @ Rs.315 per meter.

 

6 meter dyed fabric @ Rs.195.

 

 

Asked by Topperlearning User 11th July 2016, 4:49 PM
Answered by Expert
Answer:

 

In the Books of Ramanand Cloth Merchant

PURCHASES BOOK

 

Date

Particulars

L.F.

Details

Rs. 

Amount

Rs. 

2016

 

 

 

 

June 1

Ambika Mills

 

 

 

 

10 meter linen fabric

 

5,600

 

 

18 meter chiffon fabric

 

10,800

 

 

 

 

16,400

 

 

Less: Trade Discount @10%

 

1,640

14,760

June 9

Swadeshi Mills

 

 

 

 

24 meter polyster shirt fabric 

 

13,920

 

 

19 meter satin fabric

 

12,540

 

 

 

 

26,460

 

 

Less: Trade Discount @10%

 

2,646

23,814

June 25

Shriram Mills

 

 

 

 

17 meter printed fabric

 

5,355

 

 

6 meter dyed fabric

 

1,170

6,525

June 30

Purchase A/c Dr.

 

 

45,099

 

Working Notes:

 i. Cash purchases made on 6th June will be recorded in cash book as it is cash transaction and is not credit.

 ii. Purchases of computer are not recorded in the purchases book as it is not goods which the firm trade in. It is an asset for the firm and not goods (stock).

Answered by Expert 11th July 2016, 6:49 PM
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