MORE ILLUSTRATIONS ON THE SUBSIDIARY BOOKS.
EXAMPLE 1:
Write up the purchases journal of Jason & sons, and post
to the ledgers for the month of Sept 2013.
Sept 10-Bought from Coca cola, 12 crates of coke @ N250 each
and 5 crates of Fanta @ N150 each. Trade Discount of 20%.
Sept 12-Bought from PZ Ltd, 140 bags of flour @ N20 each and
400 bags of sugar @ N5 each. Trade Discount of 10%.
Sept 14-Bought from Samsung, 2 sets of IPads @ N500 each and
3 sets of LCD TV’S @ N650 each. Trade Discount of 15%.
Sept 16-Bought from Drumsticks Restaurant, 5 packs of Roasted
Chicken @ N470 each and 3 Bottles
of Pepsi @ N320 each.
of Pepsi @ N320 each.
Date
|
Particulars
|
F
|
Details
|
Total
|
Sept 10
|
12 Crates of
Coke @ N250 each.
5 Crates of
Fanta @ N150 each.
Trade Dis.
Of (20% × 3,750)
|
3,000
750
|
3,000
|
|
3,750
(750)
|
||||
Sept 12
|
140 Bags of
Flour @ N20 each.
400 Bags of
Sugar @ N5 each.
Trade Dis.
Of (10% × 4,800)
|
2,800
2,000
|
4,320
|
|
4,800
(480)
|
||||
Sept 14
|
2 Sets of
IPad @ N500 each.
3 Sets of
LCD TV’S @ N650 each.
Trade Dis.
Of (15% × 2,950)
|
1,000
1,950
|
2,507.5
|
|
2,950
(442.5)
|
||||
Sept 16
|
5 Packs of
Roasted Chicken @ N470 each.
3 Bottles of
Pepsi @ N320 each.
|
2,350
960
|
3,310
|
|
13,137.5
|
LEDGER
ENTRIES:
DR Purchases
Account CR
Sept Sundries 13,137.5
DR Coca Cola
Account CR
Sept 10 Purchases 3,000
DR PZ Ltd
Account CR
Sept 12 Purchases 4,320
DR Samsung
Account CR
Sept 14 Purchases 2,507.5
DR Drum Sticks
Account CR
Sept 16
Purchases 3,310
EXAMPLE 2:
Write up the Returns Outwards
journal of Jason & Sons Ltd for the year ended Sept 2013 and post to the
ledgers.
Sept 18- Returned to Coca Cola Ltd,
2 Crates of Coke @ N170 each and 1 Crate of Fanta @ N54 each. Trade Discount of
10%.
Sept 20- Returned to Samsung, 1
IPad @ N250 each and 2 LCD TV’S @ N75 each. Trade Discount of 2%.
Sept 23- Returned to PZ Ltd, 200
Bags of Sugar @ N30 each.
Date
|
Particulars
|
F
|
Details
|
Total
|
Sept 18
|
Coca Cola Ltd
2 Crates of Coke @ N170 each.
1 Crates of Fanta @ N54 each.
Trade Dis. Of (10% × 394)
|
340
54
|
354.6
|
|
394
(39.4)
|
||||
Sept 20
|
Samsung
1 IPad @ N250 each.
2 LCD TV’S @ N75 each.
Trade Dis. Of (2% × 400)
|
250
150
|
392
|
|
400
(8)
|
||||
Sept 23
|
PZ Ltd
200 Bags of Sugar @ N30 each.
|
6,000
|
6,000
|
|
6,746.6
|
LEDGER ENTRIES:
DR Returns Outwards
Account CR
Sept Sundries 6,746.6
DR Coca Cola Ltd
Account CR
Sept 18 Returns Outwards 354.6
DR Samsung
Account CR
Sept 20 Returns Outwards 392
DR PZ LTD
Account CR
Sept 24
Returns Outwards 6,000
This concludes our session today,
hope you understood everything we discussed today? For any Questions pls send
them to dividiamond@gmail.com
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