Chapter 15 Purchases day book and purchases ledger

Slides:



Advertisements
Similar presentations
Chapter 30 Bank reconciliation statements
Advertisements

Learning objectives After you have studied this chapter, you should be able to: Explain the terms returns inwards, returns outwards, carriage inwards and.
Chapter 14 Sales day book and sales ledger
Chapter 25 Bad debts, allowances for doubtful debts, and provisions for discounts on accounts receivable.
Sales day book & Sales ledger Chapter 14. Recap… When goods are paid for immediately they are described as ‘_________ sales’. We have received the ___________.
Accounting Words from Chapter 12. Subsidiary ledger.
Chapter 31 Control accounts
Subsidiary Ledgers Special Journals
Frank Wood and Alan Sangster, Frank Wood’s Business Accounting 1, 12 th Edition, © Pearson Education Limited 2012 Slide 40.1 Chapter 40 Joint venture accounts.
Chapter 8 Statements of financial position
Frank Wood and Alan Sangster, Frank Wood’s Business Accounting 1, 12 th Edition, © Pearson Education Limited 2012 Slide 37.1 Chapter 37 Manufacturing accounts.
Trading Documents Importance of Documents in Trade
Frank Wood and Alan Sangster, Frank Wood’s Business Accounting 1, 12 th Edition, © Pearson Education Limited 2012 Slide 2.1 Chapter 2 The double entry.
Chapter 17 Special Journals: Purchases and Cash Payments
Chapter 33 Suspense accounts and errors
Frank Wood and Alan Sangster, Frank Wood’s Business Accounting 1, 12 th Edition, © Pearson Education Limited 2012 Slide 5.1 Chapter 5 Balancing-off accounts.
Frank Wood and Alan Sangster, Frank Wood’s Business Accounting 1, 12 th Edition, © Pearson Education Limited 2012 Slide 16.1 Chapter 16 Returns day books.
Chapter 32 Errors not affecting the balancing of the trial balance
Frank Wood and Alan Sangster, Frank Wood’s Business Accounting 1, 12 th Edition, © Pearson Education Limited 2012 Slide 34.1 Chapter 34 Introduction to.
Frank Wood and Alan Sangster, Frank Wood’s Business Accounting 1, 12 th Edition, © Pearson Education Limited 2012 Slide 18.1 Chapter 18 The analytical.
Frank Wood’s Business Accounting 1 Twelfth Edition
Frank Wood and Alan Sangster, Frank Wood’s Business Accounting 1, 12 th Edition, © Pearson Education Limited 2012 Slide 19.1 Chapter 19 Value added tax.
Chapter 11 Review Subsidiary Ledger Systems
Chapter 26 Depreciation of non-current assets: nature and calculations
Frank Wood and Alan Sangster, Frank Wood’s Business Accounting 1, 12 th Edition, © Pearson Education Limited 2012 Slide 20.1 Chapter 20 Columnar day books.
Frank Wood and Alan Sangster, Frank Wood’s Business Accounting 1, 12 th Edition, © Pearson Education Limited 2012 Slide 17.1 Chapter 17 The journal.
Chapter 29 The valuation of inventory
Chapter 13 Cash books.
Chapter 3 Inventory Chapter 3 Inventory.
Chapter 23 Computerised accounting systems
Frank Wood and Alan Sangster, Frank Wood’s Business Accounting 1, 12 th Edition, © Pearson Education Limited 2012 Slide 36.1 Chapter 36 Receipts and payments.
Chapter 39 Statements of cash flows
Frank Wood and Alan Sangster, Frank Wood’s Business Accounting 1, 12 th Edition, © Pearson Education Limited 2012 Slide 24.1 Chapter 24 Capital expenditure.
Chapter 27 Double entry records for depreciation
Copyright  2004 McGraw-Hill Australia Pty Ltd PPTs t/a Accounting for Business – A non-accountant’s guide 2/e by Jopling, Lucas and Norton Slides prepared.
Frank Wood and Alan Sangster, Frank Wood’s Business Accounting 1, 12 th Edition, © Pearson Education Limited 2012 Slide 11.1 Chapter 11 Books of original.
Because, We encourage, study with, share with & pray for each other!
PowerPoint® Slides to accompany Basic Bookkeeping, Seventh Edition Prepared by JD Chazan CPA, CA National Taiwan University 15-1 Copyright © 2015 by Nelson.
Learning objectives After you have studied this chapter, you should be able to: Adjust expense accounts for accruals and prepayments Adjust revenue accounts.
Learning Objective 5 Record transactions in the general journal.
Accounting Principles, Eighth Edition
Special Journals: Purchases and Cash Payments Making Accounting Relevant Merchandising businesses operate on a cycle of buying and selling goods. Making.
CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 4-3 Completed General Ledger, Proving Cash, and Making Correcting Entries.
AAT Level 3 Accounts Preparation. AAT Level 3 Accounts Preparation - Summary ACPR is the first of the two Level 3 financial accounting units. Covering.
AC120 lecture 36 Errors in books of account Correction of errors Use of suspense accounts Source: Thomas, chapter 18.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 4-3 Completed General Ledger, Proving Cash, and Making Correcting Entries.
Slide 1.1 Frank Wood and Alan Sangster, Business Accounting, Volume 2, 11 th Edition, © Pearson Education Limited 2008 Accounting records and branches.
Double Entry System 2 DRCR. An Overview… General Journal Special Journals Ledger Accounts Trial Balance Prepare Simple Financial Statements Adjustments.
Journalizing Purchases and Cash Payments
Lecture 18 Chapter 5 Accounting Systems. Review of Lecture.
Chapter 10 Special Journals. Special Journal For midsize companies Many repetitive transactions Sales Journal Purchases Journal Cash Receipts Journal.
Assume the Position. ACT 1100 Introduction to Accounting Lecturer: Troy J. Wishart Summer Course.
Chapter 9 – Accounting for Cash | DRAFT | Accounting 1, 7 th Edition1 Chapter 9 Accounting for Cash Ch9.
Accounting II Chapter 17 Special Journals: Purchases & Cash Payment.
Slide 8.1 Wood and Sangster, Frank Wood's Business Accounting Volume 1 Power Points on the Web, 11 th Edition © Pearson Education Limited 2008 No double.
Frank Wood and Alan Sangster, Frank Wood’s Business Accounting 1, 12 th Edition, © Pearson Education Limited 2012 Slide 35.1 Chapter 35 Single entry and.
Book of First Entry, Ledger and Trial Balance Question
LESSON 17-1 Uncollectible Accounts
Chapter 16 Special Journals: Sales and Cash Receipts
LESSON 17-1 Uncollectible Accounts
Chapter 12 Control Systems: Control Accounts
Special Journals: Purchases and Cash Payments
ALLOWANCE METHOD OF RECORDING LOSSES FROM UNCOLLECTIBLE ACCOUNTS
Double Entry Rules for Assets and Liabilities
Posting to an Accounts Receivable Ledger
Posting to General and Subsidiary Ledgers
The sources of accounting for business transactions
Posting to an Accounts Receivable Ledger
Posting to an Accounts Receivable Ledger
Posting to an Accounts Receivable Ledger
Presentation transcript:

Chapter 15 Purchases day book and purchases ledger

Learning objectives After you have studied this chapter, you should be able to: Make the appropriate entries relating to credit purchases in a purchases day book Make the correct postings from the purchases day book to the purchases ledger and general ledger Explain the differences between the processes of recording credit sales and credit purchases in the books

Purchase invoices Purchase invoices are sent to the buyers of any goods that have been bought on credit. Any sales invoice issued by a business is a purchase invoice when received by the buying business. The buyer enters the purchase invoice into a purchase day book before recording the details using double entry bookkeeping.

Purchase day book

Posting credit purchases From the purchases day book: The credit purchases are posted individually to the credit of each supplier’s account in the purchases ledger. The total of the credit purchases is posted to the debit of the purchases account in the general ledger.

Activity Post the purchases day book to the supplier accounts in the purchases ledger and the purchases account in the general ledger.

Activity (Continued)

Learning outcomes You should have now learnt: That ‘purchases day book’ and ‘purchases journal’ are different names for the same book That cash purchases are not entered in the purchases day book That the purchases day book is a list of all credit purchases

Learning outcomes (Continued) That the purchases day book is used to post the items to the personal accounts in the purchases ledger That the total of credit purchases for the period is posted from the purchases day book to the debit of the purchases account in the general ledger

Learning outcomes (Continued) How to make the appropriate entries relating to credit purchases in a purchases day book and make the correct postings from it to the purchases ledger and the general ledger That the process of making entries in the books of the purchaser is very similar to that of making those in the books of the seller

Feedback: Privacy Policy Feedback
Do Not Sell My Personal Information
About project: SlidePlayer Terms of Service

© 2025 SlidePlayer.com. Inc. All rights reserved.