The document describes how to record purchases in a purchases book or purchases journal. Credit purchases of goods dealt in or materials used in production are recorded, with the net amount after any trade discount. Cash purchases and purchases of goods not dealt in are not recorded. The purchases book includes columns for date, particulars, invoice number, ledger folio, details of items and amounts, and a total amount. An example transaction is given to practice recording entries in the purchases book.
Business Studies project on Share Market Class 12Ambush Latchu
HI .. This is a project on Share Market in Business Studies .. This is a full-fledged project .. 25 company analysis .. Top 10 Company analysis .. Reasons for fluctuation .. 5 random companies Company Profile .. Profit or Loss Incurred .. Specific Analysis .. These all end up making this project a full-fledged one .. Hope you like it .. and I'm sure you'll get what you want from this slide .. Enjoy .. Bye .. :D
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class 12 / completeguide
SmartPrep's teaching methodology ensures better learning through unique interactive teaching-learning sessions, conducted by our certified & highly qualified faculty members at our state-of-the -art centres spread across Delhi-NCR and other cities of India. SmartPrep has programs in Maths, Science, English, Accountancy and Economics for Classes VII to XII.
Accountancy Projects has been created by team of Accountancy Professionals who have designed the Comprehensive and Specific Projects with solutions to meet the requirements of CBSE students of class 11th and 12th.
Business Studies project on Share Market Class 12Ambush Latchu
HI .. This is a project on Share Market in Business Studies .. This is a full-fledged project .. 25 company analysis .. Top 10 Company analysis .. Reasons for fluctuation .. 5 random companies Company Profile .. Profit or Loss Incurred .. Specific Analysis .. These all end up making this project a full-fledged one .. Hope you like it .. and I'm sure you'll get what you want from this slide .. Enjoy .. Bye .. :D
its my first !
please #follow so that i will make more for all
it is according to class 12 syllabus ! hopefully it will weak students like me ! it contains all fundamentals of partnership firm.
it also usefull in xam times as revision notes!
for more just follow me !
fb@venuankush
class 12 / completeguide
SmartPrep's teaching methodology ensures better learning through unique interactive teaching-learning sessions, conducted by our certified & highly qualified faculty members at our state-of-the -art centres spread across Delhi-NCR and other cities of India. SmartPrep has programs in Maths, Science, English, Accountancy and Economics for Classes VII to XII.
Accountancy Projects has been created by team of Accountancy Professionals who have designed the Comprehensive and Specific Projects with solutions to meet the requirements of CBSE students of class 11th and 12th.
Solved Comprehensive Project Cbse Class 12 Accountancy ProjectDan John
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Solved Accounting Ratios with Balance Sheet(vertical) and Statement of Profit and Loss - Cbse Class 12 Accountancy Project
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Solved Cash Flow Statements with Balance Sheet (vertical) and Notes to Accounts - Cbse Class 12 Accountancy Project
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Solved Cash Flow Statements with Balance Sheet (vertical) and Notes to Accounts - Cbse Class 12 Accountancy Project
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Recording of Special Transactions of Accounting in Saparate books, includes :
1."Cash Book" for Cash, Bank & Discount transactions
2. "Purchase Book" for Credit purchases of goods
3. "Returns Outward Book" for Return of Credit purchases goods
4. "Sales Book" : Credit Sale of goods
5."Return Inwards Book" for Return of Credit Sold goods; 6. "Bills Receivable" book: Details of Bills drawn &
7. "Bills Payable" Book.
8. "Journal Proper": for the remaining Transactions.
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Recording of Special Transactions of Accounting in Saparate books, includes :
1."Cash Book" for Cash, Bank & Discount transactions
2. "Purchase Book" for Credit purchases of goods
3. "Returns Outward Book" for Return of Credit purchases goods
4. "Sales Book" : Credit Sale of goods
5."Return Inwards Book" for Return of Credit Sold goods; 6. "Bills Receivable" book: Details of Bills drawn &
7. "Bills Payable" Book.
8. "Journal Proper": for the remaining Transactions.
For more information visit - http://www.takshilalearning.com or call +91-8800999280
Introduction to AI for Nonprofits with Tapp NetworkTechSoup
Dive into the world of AI! Experts Jon Hill and Tareq Monaur will guide you through AI's role in enhancing nonprofit websites and basic marketing strategies, making it easy to understand and apply.
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Dr. Vinod Kumar Kanvaria
Exploiting Artificial Intelligence for Empowering Researchers and Faculty,
International FDP on Fundamentals of Research in Social Sciences
at Integral University, Lucknow, 06.06.2024
By Dr. Vinod Kumar Kanvaria
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
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Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
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2. ● Cash Book
● Purchase Book / Purchase Journal
● Sales Book / Sales Journal
3. Cash Book is a book of prime entry in which cash
and bank transaction are recorded in a
chronological order, i.e., as they occur. Cash
receipts are recorded on the debit side of the
Cash Book and cash payments on the credit side.
A balance is struck by deducting the total cash
payments from the total cash receipts to know
the cash in hand, a necessary and useful
information. The no. of cash transactions in a
firm is generally large, therefore, it is convenient
to have a separate Cash Book to record such
transactions.
4. Features of Cash Book
1. Only cash transactions are recorded in the
Cash Book.
2. Cash and cheque receipts are recorded on
the debit side while cash and cheque
payments are recorded on the credit side.
3. It record only one aspects of the transaction,
i.e., cash.
4. Cash and bank transactions are recorded in
the Cash Book in a chronological order, i.e.,
in other they take place.
5. It performs the function of the both Journal
and the Ledger at the same time.
5. Kinds of Cash Book
There are three types of Cash Books:
(1) Simple Cash Book or Single Column Cash Book:
For according cash transaction only.
(2) Two-Column Cash Book (Cash Book with cash and
bank column): For recording cash and bank
transactions.
(3) Three-Column Cash Book (Cash Book with cash,
bank and discount columns): In this cash book
there are three column of amount on both the
sides. The first for discount, the second for cash
and the third for bank transactions. Discount
allowed is recorded on the debit side, while
discount received is recorded on the credit side.
6. A Simple Cash Book looks like an A/C, with one A/C
column on each side. Left-hand side records receipts
of cash and the right-hand side records payments.
The ruling is as follows:
Dr. Cr.
Date Particulars V.No L.F Amt Date Particulars V.No L.F Amt
7. In the column for:
(1) Date: Date of transaction is written
(2) Particulars: The name of the A/C under which cash
has been received or payment has been made is
written. In an existing business, Cash Book starts with
the Opening Balance of cash written on the receipts
side as ‘To Balance b/d’. A new business will not have
an opening balance.
(3) Voucher No. (V. No.): The document supporting a
transaction is called a voucher. There are two types of
cash vouchers: Receipt Voucher and Payments
Voucher. Generally, a Voucher has a serial number
which is written in the column.
(4) Ledger Folio (L.F): It records the page number in the
Ledger where the amount has been posted in the A/C.
(5) Amount: The amounts received are written on the
debit side amount paid are written on the credit side.
8. A Two-Column Cash Book or Double Column Cash Book is a
Cash Book with two column on each side; one column for
recording cash transactions and the other column for
recording bank transactions, i.e., deposit of cheques or cash,
issue of cheques and withdrawal of cash, etc. We can say that
a Two-Column Cash Book represents two A/C. The ruling of a
Two-Column Cash Book is as follows:
Dr. Cr.
Date Particulars L.F Cash Bank Date Particulars L.F Cash Bank
9. Petty Cash Bank is the book which s used for
the purpose of recording expenses involving
petty amounts. Besides petty expenses, receipts
from main cash are recorded. Petty Cash Book
is prepared by Petty Cashier and acts as the
Petty Cash A/C.
10. Advantages of Petty Cash
i. Control Over Mistakes: The Petty Cash Book is checked by
the cashier at regular intervals so that a mistake, if
committed, is soon rectified.
ii. Control Over Petty Expenses: Petty expenses are kept within
the limits of imprest since the petty cashier can never spend
more than the available petty cash.
iii. Control Over Fraud: Under this system defalcation of cash
can be minimized since the Petty Cashier is not allowed to
draw cash as and when he desires.
Types of Petty Cash Books:
1. Simple Petty Cash Book
2. Analytical Petty Cash Book
11. A Simple Petty Cash Book is identical with a Cash
Book. Any cash which the Petty Cashier receives will
be left hand side cash column (debit column) any
cash which he pays out will be recorded on the right
hand side payment column. The date and particulars
of every transaction will be written in the same date
and particulars column.
Dr. Cr.
Amount Received Cash Book
Folio
Date Particulars V. No. Amount Paid
Amount
Received
… … …
Amount Paid
…
…
…
…
12. An Analytical Petty Cash Book has two sides, the left hand side is
used for recording receipts of cash (which will be only from the main
cashier) are right hand side, which is used for recording payments.
In Analytical Petty Cash Book, a separate column is provided for
recording a particular item of expenditure, i.e., postage, stationery,
travelling, advertisement, etc. A column is usually provided for
‘sundries’ to record infrequent payments. When a petty expenses is
recorded on the right hand total payment column, the same amount
is immediately recorded in the appropriate expenses column. At the
end of a particular period, all the analysis (expenses) column are
added and posted to the debit side of the respective A/C.
Receipts Date V. No. Particulars Total
Payments
Conveyance Cartage Stationery
& Courier
Postage Sundries
13. Simple Cash Book
Q. 1-Enter the following transaction.
2012
Jan 1 Reema started business with cash 1,00,000
Jan 2 Opened a bank A/C and deposited 50,000
Jan 3 Purchased goods for cash 20,000
Jan 3 Sold goods to Ram on credit 5,000
Jan 5 Received from Ram 3,000
Jan 7 Paid Rent 4,000
Jan 8 Sold goods for cash 10,000
Jan 10 Withdrew cash for cash from bank 7,000
Jan 27 Purchased furniture 15,000
Jan 31 Paid salaries 5,000
14. Solution:
Dr. Cr.
Date Particulars L.F Amount(Rs) Date Particulars L.F Amount(Rs)
2012 2012
Jan 1 To capital
A/C
1,00,000 Jan 2 By bank A/C 50,000
Jan 5 To ram 3,000 Jan 3 By purchase A/C 20,000
Jan 8 To sales A/C 10,000 Jan 7 By rent A/C 4,000
Jan 10 To bank A/C 7,000 Jan 27 By furniture A/C 15,000
Jan 31 By salaries A/C 5,000
Jan 31 By balance c/d 26,000
1,20,000 1,20,000
Feb 1 To balance
b/d
26,000
15. Q. 2-Enter the following in Shri Shambunath’s
Cash Book and show the balance:
2012
March 1 Balance of cash in hand 15,000
March 8 Purchases goods for cash from X 3,200
March 15 Sold goods to Y 4,800
March 20 Received commission 650
March 20 Paid commission 550
March 28 Paid to Shantaram on A/C 7,150
March 31 Paid salary to the office clerk 1,000
and office rent 600
16. Solution:
In the Books of Shri Shambunath
CASH BOOK
Dr. Cr.
Date Particulars L.F Amount(Rs) Date Particulars L.F Amount(Rs)
2012 2012
Mar 1 To balance
b/d
15,000 Mar 8 By purchases
A/C
3,200
Mar 20 To
commission
A/C
650 Mar 20 By
commission
A/C
550
Mar 28 By Shantaram 7,150
Mar 31 By salary A/C 1,000
Mar 31 By office rent
A/C
600
Mar 31 By balance c/d 3,150
15,650 15,650
Apr 1 To balance
b/d
3,150
17. Double column Cash Book
Q. 1- Enter the following transaction:
2009
Sep 1 Cash in hand 7,500
Bank overdraft 3,500
Sep 2 Paid wages 200
Sep 5 Cash sales 7,000
Sep 10 Cash deposited into bank 4,000
Sep 15 Goods purchased and paid by cheque 2,000
Sep 20 Paid rent 500
Sep 25 Drew from bank for personnel use 400
Sep 30 Salary paid 1,000
18. Solution:
Dr. Cr.
Date Particulars L.F Cash Bank Date Particulars L.F Cash Bank
2009 2009
Sep 1 To balance
b/d
7,500 Sep 1 By balance
b/d
3,500
Sep 5 To sales
A/C
7,000 Sep 2 By wages
A/C
200
Sep 10 To cash
A/C
c 4,000 Sep 10 By bank
A/C
c 4,000
Sep 20 To balance
c/d
1,900 Sep 15 By Purchase
A/C
2,000
Sep 20 By rent A/C 500
Sep 25 By drawing
A/C
400
Sep 30 By salary
A/C
1,000
Sep 30 By balance
c/d
8,800
14,500 5,900 14,500 5,900
Oct 1 To balance
b/d
8,800 Oct 1 By balance
b/d
1,900
19. Q. 2- Record the following in the appropriate
book of original entry.
2009
Jan 1 Cash in hand 12,400
Jan 1 Bank Overdraft 1,400
Jan 3 Deposited into bank 3,000
Jan 5 Received cheque from Sharma 5,400
Jan 6 Deposited Sharma’s cheque into bank
Jan 31 Bank Charge 65
20. Solution:
Dr. Cr.
Date Particulars L.F Cash Bank Date Particulars L.F Cash Bank
2009 2009
Jan 1 To balance
b/d
12,400 Jan 1 By balance
b/d
1,400
Jan 3 To cash
A/C
3,000 Jan 3 By bank A/C 3,000
Jan 6 To cheque
in hand
A/C
(Sharma)
5,400 Jan 31 By bank
charge
65
Jan 31 By balance
c/d
9,400 6,935
12,400 8,400 12,400 8,400
Feb 1 To balance
b/d
9,400 6,935
21. Simple Petty Cash Book
Q.-From the following information, write up for
the 1st week of April 2012:
2012
April 1 Received from Chief Cashier for Petty Cash 4000
April 2 Bought postage stamps 200
April 4 Paid bus fare 120
April 5 Purchased stationery for office use 1,000
April 6 Paid for milk and sugar for office tea 600
April 7 Paid to window cleaner 80
22. Solution:
Dr. Cr.
Amount Received Cash Book
Folio
Date Particulars V. No. Amount Paid
4,000
2012
Apr 1 To cash A/C
Apr 2 By postage A/C 200
Apr 4 By travelling expenses
A/C
120
Apr 5 By stationery A/C 1,000
Apr 6 By office expenses A/C 600
Apr 7 By Miscellaneous
expenses A/C
80
By balance c/d 2,000
4,000 4,000
23. Analytical Petty Cash Book
Q.-Prepare an Analytical Petty Cash Book on the
Imprest System from the following:
2012
Jan 1 Received Rs.1,000 for Petty Cash
Jan 2 Paid bus fare 5
Jan 2 Paid cartage 25
Jan 3 Paid for postage ant telegram 50
Jan 3 Paid wages for casual laborers 60
Jan 4 Paid for stationery 40
Jan 4 Paid auto charge 20
Jan 5 Paid for repairs to chairs 150
Jan 5 Bus fare 10
24. Jan 5 Cartage 40
Jan 6Postage and telegrams 70
Jan 6 Conveyance charges 30
Jan 6 Cartage 30
Jan 6 Stationery 20
Jan 6 Refreshment to customers 50
25. Solution:
Receipts Date V. No. Particulars Total
Payments
Conveyance Cartage Postage,
Telegrams &
Stationery
Wages Sundries
2012
1,000 Jan 1 1 To Cash A/C
Jan 2 1 By conveyance
A/C
5 5
2 By cartage A/C 25 25
Jan 3 3 By postage &
telegrams A/C
50 50
4 By wages A/C 60 60
Jan 4 5 By stationery
A/C
40 40
6 By Conveyance
A/C
20 20
Jan 5 7 By repairs of
furniture A/C
150 150
8 By conveyance
A/C
10 10
9 By cartage A/C 40 40
Jan 6 10 By postage &
telegrams A/C
70 70
Jan 6 11 By conveyance
A/C
30 30
Jan 6 12 By Cartage A/C 30 30
Jan 6 13 By stationery
A/C
20 20
Jan 6 14 By general
expenses A/C
50 50
600 65 95 180 60 200
Jan 6 By balance c/d 400
1,000 1,000
400 Jan 8 To balance b/d
600 To cash A/C
26. Credit purchases of goods dealt in or of
materials and stores used in the factory are
recorded on the basis of the invoices in the
Purchases Book or the Purchase Journal. It
means cash purchases of goods other than
goods dealt in are not recorded in the
Purchases Journal.
27. Features of Purchases Book
1. Credit purchases of goods traded in or material used for
production are recorded in the Purchases Book. Credit
purchases of goods or materials not dealt in, such as office
furniture or computers for office use are not recorded in the
Purchases Book. They are journalized.
2. Cash purchases are not recorded in the Purchases Book
since they are recorded in the Cash Book.
3. The entries in the Purchases Book are made on the basis of
invoices received from the suppliers with the net amount
after Trade Discount (TD).
The ruling of a Purchases Book is as follows:
Date Particulars Invoice No. L.F Details Amount
28. The purchases Book has six columns:
i. Date: In the first column, the transaction date is written.
ii. Particulars: In this column, the name of the supplier, name
of the articles and quantities purchased are written.
iii. Invoice No.: Invoice number of the goods purchased id
written.
iv. L.F: When the Purchases Book is posted to the Ledger, the
page number of the Ledger is written.
v. Details: The amount in respect of each article is written in
this column. If the seller has allowed a Trade Discount it is
also deducted in this column itself.
vi. The net amount of the invoice is recorded in the extreme
right hand column. The total in this column will show the
‘total credit purchases’ made in a period.
29. Some important Items
1. Central Sales Tax
2. Value Added Tax (VAT)
3. Freight or cartage
4. Packing and forwarding expenses
30. Q. 1-The Rough Book of M/S. Narain & Co.
contains the following:
2011
February 1 Purchased from M/S. Brown & Co. on credit
5 gross pencils @ Rs.100 per gross
1 gross registers @ Rs.200 per dozen
Less: Trade Discount @ 10%
February 2 Purchased for cash from the Stationery Mart:
10 gross exercises book @ Rs.60 per dozen
February 3 Purchased computer printer for office use from M/S.
Office Goods Co. on credit for Rs.4,000
31. February 4 Purchased on credit from The Paper Co.:
5 reams of white paper @ Rs.100 per ream
10 reams of ruled paper @ Rs.65 per ream
Less: Trade Discount @ 10%
February 5 Purchased 1 dozen ink-pots @ Rs.10 each from M/S.
Verma Bros. on credit
Prepare the Purchases Book of M/s. Narain &
Co.
32. Solution:
Date Particulars L.F Details Amount
2011
Feb 1 M/S. Brown & Co.
5 gross pencils @ Rs.100 per gross
1 gross registers @ Rs.200 per dozen
Less: Trade Discount @ 10%
500
2,400
2,900
290 2,610
Feb 4 The Paper Co.
5 reams of white paper @ Rs.100 per ream
10 reams of ruled paper @ Rs.65 per ream
Less: Trade Discount @ 10%
500
650
1,150
115 1,035
Feb 5 M/S. Verma Bros.
1 dozen ink-pots @ Rs.10 each 120
Feb 28 Purchases A/C …Dr. 3,765
33. Q.2-Enter the following transactions in
Purchases Book of M/S.R.K. Brothers and pass
the Journal entry:
2011
April 1 Purchased goods from Joshi Brothers on credit vide Invoice No.
210:
10 Philips tube light @ Rs.40 each, paid VAT @ 10%
50 Crompton bulbs @ Rs.10 each, paid VAT @ 10%
April 10 Purchased goods from Rajesh Electric Store vide Invoice No. 18:
25 heaters @ Rs.160 each, paid VAT @ 10%
15 sunny fans @ Rs.600 each, paid VAT @ 10%, 10% TD
April 16 Purchased goods from Sardar Electric Store vide Invoice No.
125:
5 Philips tube light @ Rs.10 each, paid VAT @ 10%
20 power plugs @ Rs.25 each, paid VAT @ 10%
The TD is 10% and Freight charges are Rs.75
34. Solution:
Date Particulars L.F I. No. Detail Cost VAT Freight
charge
s
Total
2011
Apr 1
Joshi Brothers
10 Philips tube light @ Rs.40 each
50 Crompton bulbs @ Rs.10 each
Add: VAT @ 10%
210
400
500
900 90 … 990
900
90
990
Apr 10 Rajesh Electric Store
25 heaters @ Rs.160 each
15 sunny fans @ Rs.600 each
Less: TD @ 10%
Add: VAT @ 10%
18
4,000
9,000
11,700 1,170 … 12,870
13,000
1,300
11,700
1,170
12,870
Apr 16 Sardar Electric Store
5 Philips tube light @ Rs.10 each
20 power plugs @ Rs.25 each
Less: TD @ 10%
Add: VAT @ 10%
Add: Freight charges
125
600
500
990 99 75 1,164
1,100
110
990
99
1,089
75
1,164
Apr 30 Purchase A/C …Dr. 13,590 1,359 75 15,024
35. Credit sales of goods dealt in by the firm are
recorded in a separate register called the Sales
Book or Sales Journal. Cash sales are entered in
the Cash Book and not in the Sales Book. Credit
sales of items other than goods dealt in by the
firm are not entered in the Sales Book, they are
journalized. Entries in the Sales Book are on the
basis of invoices issued to the customers with
the net amount after trade discount.
36. Features of Sales Book
1. Credit sales of goods dealt in are recorded in the Sales Book.
Sale of assets is not recorded in the Sales Book.
2. Credit sales of goods other than goods dealt in are not
recorded in the Sales Book. They are journalized.
3. Cash sales are not recorded in Sales Book since these are
recorded in the Cash Book.
4. Entries are recorded on the basis of invoices.
The ruling for the Sales Book is as shown below:
Date Particulars Invoice No. L.F Details Amount
37. Q.1-Following transactions are of M/S. Kishore &
Sons for the month of April, 2011. Prepare their
Sales Book:
April 3 Sold to M/S. Gupta & Verma on credit:
30 shirts @ Rs.150 each
20 trousers @ Rs.300 each
Less: TD @ 10%
April 10 Sold old furniture to M/S. Sehgal & Co. on credit Rs.800
April 20 Sold 50 shirts on credit to M/S. Jain & Sons @ Rs.150 each
April 23 Sold on credit to M/S. Mathur & Jain:
100 shirts @ Rs.175 each
10 overcoats @ Rs.500 each
Less: TD @ 10%
39. Q.2-From the following transactions, prepare
the Sales Book:
2011
March 1 Sold to ‘X’, vide Invoice No.2005, 3 chests of tea for
Rs.1,800 less TD @ 10%, and VAT is Charged @ 10%
March 4 Sold to Mohan & Sons vide Cash Memo No.5785, 20 kg
butter @ Rs.150 per kg, less TD @ 5% and VAT is charged @ 10%
March 5 Sold to ‘Y’ vide Invoice No.2006, 20 kg Assam Tea @
Rs.60 per kg less TD @ 5%, charged CST @ 10%, freight and
packing charges were separately charged in the Invoice at
Rs.160
March 6 Sold to ‘Z’ vide Invoice No.2007, 20 packs (1 kg) of
Darjeeling tea @ Rs.75 per kg less TD @ Rs.100, charged VAT @
10%
40. Solution:
Date Particulars L.F Invoice
No.
Sale
Amount
Trade
discount
Net
value
CST VAT Freight
and
packing
Total
2011
Mar 1 X
3 chests of tea, TD
allowed 10%, charged VAT
10%
2005
1,800 180 1,620 … 162 … 1,782
Mar 5 Y
20 kg Assam tea,
TD allowed 5%, charged CST
10%
2006
1,200 60 1,140 114 ... 160 1,414
Mar 6 Z
20kg Darjeeling tea, TD
allowed Rs.100, charged
VAT 10%
2007
1,500 100 1,400 … 140 … 1,540
Mar 31 4,500 340 4,160 114 302 160 4,736