How to prepare a purchase day book?

Banking & FinanceFinance ManagementGrowth & Empowerment

A company purchases for the month of April 2012 as follows,

  • On 6th April − Bought 25 computers from Com co. Each computer cost Rs.25000/- with 8% trade discount.
  • On 12th April − Bought 150 phones from PHO co. Each phone cost Rs.950/- on credit.
  • On 17th April − Bought 400 televisions from TV co. Each television cost 23580/- at a 4% cash discount.
  • On 20th April − Purchased 150 radios from Ra co. Each cost them 320/- on credit.

Solution

The purchase day book is prepared for the above mentioned data.

Amount due for Com co.

  • Step 1 − On April 6th 25 computers were purchased from Com co. price of each computer is Rs.25000/-

    Total amount for computers = 25000 * 25 = Rs.625000/-

  • Step 2 − Com co given 8% discount on purchasing 25 computers on overall amount

    Discount = 8% * 625000 = Rs.52160/-

  • Step 3 − amount due is the difference between step 1 and step 2

    Amount due = 625000 − 52160 = Rs.572840/-

Amount due for PHO co.

  •  On 12th April 150 phones were purchased from PHO co. price of each phone is Rs.950/-

Amount due = 150 * 950 = 142500

Amount due for Ra co.

  • On 20th April 150 radios were bought from Ra co on credit basis. Price of each radio is Rs.320

Amount due = 320 * 150 = 48000

Purchase day book for a company as follows -

Purchase day book

DateName of supplierLedger folioInward invoice numberAmount
06/04/2012Com co.

572840
12/04/2012PHO co.

142500
20/04/2012Ra co.

48000
total763340


raja
Published on 12-Jul-2021 12:25:01
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