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CCP102

This document outlines a lecture on preparing purchases and sales books. It discusses [1] how to record credit purchases in the purchases book and credit sales in the sales book, [2] how to calculate trade discounts and total the books, and [3] how to post the totals from the books to purchases and sales accounts. Examples are provided to demonstrate recording transactions in the subsidiary books, including calculations for trade discounts. The objectives, structure, and an assignment are also outlined.

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53 views

CCP102

This document outlines a lecture on preparing purchases and sales books. It discusses [1] how to record credit purchases in the purchases book and credit sales in the sales book, [2] how to calculate trade discounts and total the books, and [3] how to post the totals from the books to purchases and sales accounts. Examples are provided to demonstrate recording transactions in the subsidiary books, including calculations for trade discounts. The objectives, structure, and an assignment are also outlined.

Uploaded by

api-3849444
Copyright
© Attribution Non-Commercial (BY-NC)
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Download as PPT, PDF, TXT or read online on Scribd
You are on page 1/ 16

DEPARTMENT OF TECHNICAL EDUCATION

ANDHRA PRADESH
Name : P. VYDURYAM
Designation : Lecturer
Branch : D.C.C.P
Institute : S.G.M. Govt Polytechnic,
Abdullapurmet
Year/Semester : I Year
Subject : ACCOUNTANCY-I
Subject Code : CCP102
Topic : SUBSIDIARY BOOKS
Duration : 50 Mts
Sub Topic : Exercises on Purchases Book &
Sales Book
Teaching Aids : PPT, Animations
CCP102.47 1
Objectives :

After completion of this class, you would


be able to know:
 How to prepare Purchases Book & Sales
Book
 How to prepare Purchases Account & Sales
Account
 Total the Purchases Book & Sales Book

CCP102.47 2
Structure :
Recap
Preparation of Purchases Book
Preparation of Sales Book
Total the Each Book
Summary
Assignment

CCP102.47 3
Recap :

 Credit Purchases are recorded in Purchases


Book
 Credit Sales are recorded in Sales Book

CCP102.47 4
Exercise on
Purchase Books
and
Sales Books

CCP102.47 5
Procedure :

 Record all credit purchases in Purchases Book


 Record all Credit sales in Sales Book
 Calculation of Discount
 Total each Book properly
 Open Purchases and Sales accounts
 Post the totals of purchase book and sales
book into A/c’s

CCP102.47 6
Record the Following Transactions in
Proper Subsidiary Books :
2006
Nov Rs.
1 Bought goods from Sheetal 13,000
3 Sold goods on Credit to kailash
(Trade discount 10% ) 18,000
8 Cash sales to Rakesh 22,000
16 Purchased goods from Varma 10,000
19 Bought goods from Prateek
(Trade discount 5%) 7,000
25 Sold goods to Sushant 8,000
28 Sold goods to Manohar 10,000
CCP102.47 7
Working Notes:

2006
Nov 3 (Calculation of Trade Discount 10%
on sold goods) :
18,000 x 10/100 = 1,800
18,000 – 1,800 = 16,200
Nov 19 (Calculation of Trade Discount 5% on
Purchased goods)
7,000 x 5/100 = 350
7,000 – 350 = 6,650

CCP102.47 8
Purchases Book

Date Particulars Inward L Amount


Invoice F Rs.
No.
2006
Nov 1 Sheetal 13,000
Varma 10,000
16 Prateek 6,650
19 ------------
Total 29,650
------------
CCP102.47 9
Sales Book

Date Particulars Outward L Amount


Invoice No. F Rs.

2006
Nov 3 Kailash 16,200
Sushant 8,000
25 Manohar 10,000
28 ------------
Total 34,200
------------

CCP102.47 10
Purchases Account Cr
Dr
Date Particulars J. Amt Date Particulars J. Amt
F Rs F Rs

2006
Nov To Sundry
31 Creditors 29,650

CCP102.47 11
Sales Account

Dr Cr
Date Particulars J. Amt Date Particulars J. Amt
F Rs F Rs
2006
Nov By Sundry 34,200
31 Debtors

CCP102.47 12
Summary :

 Preparation of Purchase book & Sales Book


 Postings into Purchases Book & Sales Book
 Calculation of Trade Discount
 Total each Book
 Preparation of Purchases Account and Sales
Account

CCP102.47 13
Frequently Asked Questions
:
 Give the proforma of Purchases Book and
Sales Book?
 What is the need for Subsidiary Books?

CCP102.47 14
Assignment :
Record the following transactions in
subsidiary books and post them into ledger
(Individual a/c are not necessary)
1999
Dec Rs.
1 Goods purchased from Kishore 15,000
7 Purchased goods for cash 14,000
12 Sold goods to Sridhar 10,000
18 Bought goods from Kiran
(Trade discount 20%) 11,000
23 Sold goods to Naveen 6,000
27 Bought goods from Rohit 8,000
29 Sold goods to Shravan 10,000
CCP102.47 15
Thank You

CCP102.47 16

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