Books of Prime Entry Exercise Questions

Illustration 1: From the following transactions of Ram for July, 2003 prepare the Purchases Book and ledger accounts connected with this book.

2003 July 5 Purchased on credit from Kannan & Co. 50 Iron boxes @ ₦ 500 10 Grinders @ ₦ 3,000 6 Purchased for cash from Siva & Bros. 25 Fans @ ₦ 1,250 10 Purchased from Balan & Sons on credit , 20 Grinders @ ₦ 2,500 10 Mixie @ ₦ 3,000 20 Purchased, on credit, one Computer fromKumar for ₦ 35,000.

 Illustration 2 From the transactions given below prepare the Sales Day Book of Ram for July 2003. 2003 July 5 Sold on credit to S.S. Traders 10 Chairs @ ₦ 250 10 Tables @ ₦ 850 Less 10% Discount 8 Sold to Raja for cash 15 Chairs @ ₦ 250 20 Sold to Mohan & Co. 5Chairs @ ₦ 2,200 10 Tables @ ₦ 850 23 Sold on credit to Narayanan old computerfor ₦ 5,000 28 Sold to Kumaran for cash 15 Chairs @ ₦ 250