Image credit: koolkeyrings.com

Image credit: koolkeyrings.com

ZIMSEC O Level Principles of Accounts Notes: Purchases Return Day Book Example

You are to enter up the Purchases Day Book and the Returns Outwards Day Book from the following details, then to post the items to the relevant accounts in the Purchases Ledger and to show the transfers to the General Ledger at the end of the month.

May 2013

  • 1 Credit purchase from J Moyo $324.
  • 4 Credit purchases from the following: A Mativure $216; B Ramba $322; F Muromo $64; G Rize
  • $130.
  • 7 Goods returned by us to the following: J Moyo $56; A Mativure $28.
  • 10 Credit purchase from B Ramba $140.
  • 18 Credit purchases from the following: B Benza $230; I Gore $310; F Muromo $405; P Hatendi $180.
  • 25 Goods returned by us to the following: I Gore $140; B Ramba $34.
  • 31 Credit purchases from: F Tumbare $174; T Bhanda $230.

Solution

Purchases Day Book
May 2013DetailsAmount ($)
1J Moyo324
4A Mativure216
B Ramba322
F Muromo64
G Rize130
10B Ramba140
18B Benza230
I Gore310
F Muromo405
P Hatendi180
31F Tumbare174
T Bhanda230
Total for the Month2725
Purchases Ledger
J Moyo
DateDetailsAmount ($)DateDetailsAmount
7 MayReturns Outwards561 MayPurchases324
A Mativure
DateDetailsAmount ($)DateDetailsAmount
7 MayReturns Outwards284 MayPurchases216
B Ramba
DateDetailsAmount ($)DateDetailsAmount
25 MayReturns Outwards344 MayPurchases322
10 MayPurchases140
F Muromo
DateDetailsAmount ($)DateDetailsAmount
4 MayPurchases64
18 MayPurchases405
G Rize
DateDetailsAmount ($)DateDetailsAmount
4 MayPurchases130
B Benza
DateDetailsAmount ($)DateDetailsAmount
18 MayPurchases230
I Gore
DateDetailsAmount ($)DateDetailsAmount
25 MayReturns Outwards14018 MayPurchases310
P Hatendi
DateDetailsAmount ($)DateDetailsAmount
18 MayPurchases180
F Tumbare
DateDetailsAmount ($)DateDetailsAmount
31 MayPurchases174
T Bhanda
DateDetailsAmount ($)DateDetailsAmount
31 MayPurchases230
General Ledger
Purchases Account
DateDetailsAmount ($)DateDetailsAmount
31 MayTotal for the Month2725
Purchases Returns
DateDetailsAmount ($)DateDetailsAmount
31 MayTotal for the month258
Returns Outwards Day Book
May 2013DetailsAmount ($)
7J Moyo56
7 MayA Mativure28
25B Ramba34
25I Gore140
258

To access more topics go to the Principles of Accounts Notes.

 

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