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Books of Prime Entry and Ledgers

This document provides information and instructions for accounting worksheets and exercises involving books of prime entry, ledgers, and posting transactions. It includes sample transactions to record purchases and sales, and instructions to open accounts, post entries, and take trial balances. The goal is to practice recording accounting entries from source documents into journals, ledgers, and general accounts.

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213 views

Books of Prime Entry and Ledgers

This document provides information and instructions for accounting worksheets and exercises involving books of prime entry, ledgers, and posting transactions. It includes sample transactions to record purchases and sales, and instructions to open accounts, post entries, and take trial balances. The goal is to practice recording accounting entries from source documents into journals, ledgers, and general accounts.

Uploaded by

m k
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Department of Commerce

SUBJECT: ACCOUNTING Worksheet: 2


Student Name: ___________________ Class/Section: AS /____
Date: ____________

TOPIC: BOOKS OF PRIME ENTRY AND LEDGERS

Books of prime entry

1 Purchase journal (Purchase day book) – when goods/ items bought on credit
2 Sales journal (sales day book) – when goods/ items sold on credit
3 Purchase returns journal (Purchase returns day book) – when goods/ items returned
back to supplier
4 Sales returns journal (sales returns day book) – when goods/ items returned by
customer
5 Cash book – For recording cash/ bank transactions
6 Journal – For all other transactions

Ledgers (A set of T – accounts)

1. Sales ledger (Trade receivables ledger) – all customers individual accounts


2. Purchase ledger (Trade payables ledger) – all suppliers individual accounts
3. General / Nominal ledger - All other T accounts
1. The following invoices, in respect of purchases of goods for resale, have been received:

2020 $
2 Jan F. Day 850
10 Jan G. Moon 1 225
14 Jan S. Cox 915
18 Jan F. Day 1100
25 Jan G. Moon 460
28 Jan F. Day 230
30 Jan S. Cox 1 015

Required:

(a) Open up the purchases day book and enter the above invoices in it. Total the purchases
day book for the month.

(b) Open the suppliers’ accounts and the purchases account. Post the necessary entries from
the day book to these accounts

2. The book-keeper of Priory Printers Limited has the following purchases invoices (PI) and
sales invoices (SI) to enter into the accounts for the week commencing 10 June 2020.

2020 $
10 Jun PI 2472 Paper Supplies Ltd 480
10 Jun SI 1347 Wyvern Publishing 625
11 Jun PI 8771 Severn Traders 170
12 Jun PI X244 Computer Services Ltd 196
12 Jun SI 1348 House of Cards Ltd 298
13 Jun PI 2491 Paper Supplies Ltd 560
13 Jun SI 1349 Lennox Publishers 738
14 Jun SI 1350 House of Cards Ltd 255
14 Jun SI 1351 Wyvern Publishing 565

Required:

(a) Write up and total Priory Printers Limited's purchases day book and sales day book for
the week commencing 10 June 2020.

(b) Record the transactions in Priory Printers Limited's purchases ledger, sales ledger, and
general ledger.
3. You are required to enter up the following items in the books, post to the personal
accounts and show the transfers to the General Ledger.

2020

January 1 Credit purchases from M Mann $450 and C Wilkie $980.

January 4 Credit sales to E Palmer $280

January 8 Goods retuned by us to Wilkie worth $132

January 11 Credit sales to L Jasmine $450

January 14 Goods retuned to us by Palmer worth $110

January 16 Credit purchases from A Bali $750

January 19 Goods retuned by us to Bali $125

January 21 Credit sales to E Palmer $1050

January 26 Credit purchases from M Mann for $870

4. C. Emberson, a sole trader, buys and sells goods on credit. A bank account is kept
through which all amounts received and paid are entered. On 30 November 2020 the
following balances remain in the books:

Dr. Cr.
$ $
C. Hills 1 540
L. Howe 2 750
K. Harris 3 300
Bank 7 400
Capital 6 410

Purchases Day Book


Date Details Amount
$
13 Dec C. Hills 1 100
20 Dec C. Hills 1 650
21 Dec L. Howe 650
31 Dec Total 3 400

Sales Day Book


Date Details Amount
$
11 Dec K. Harris 2 640
15 Dec K. Harris 880
31 Dec Total 3 520
Cash Book (extract)
Date Details Discount Bank Date Details Discount Bank
$ $ $ $
16 Dec K. Harris 300 5940 8 Dec C. Hills 40 1 500
15 Dec L. Howe 170 3 230

Required:

(a) Open appropriate ledger accounts for the above transactions. Post the transactions
indicated in the subsidiary books direct to the ledger and open any other accounts which
may be required.

(b) Balance the accounts where necessary and extract a trial balance on 31 December 2020.

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