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Purchase Process

The document outlines a purchase process for a new company, including the creation of ledgers with specified opening balances for liabilities and assets. It details a purchase order placed with e-world dealers, the rejection of a defective item, and the subsequent replacement of goods. Additionally, it mentions a purchase from telecraft and the return of items to them.

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ishasharma312006
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4 views2 pages

Purchase Process

The document outlines a purchase process for a new company, including the creation of ledgers with specified opening balances for liabilities and assets. It details a purchase order placed with e-world dealers, the rejection of a defective item, and the subsequent replacement of goods. Additionally, it mentions a purchase from telecraft and the return of items to them.

Uploaded by

ishasharma312006
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

Purchase process

purchase
payment
order

debit receipt
note note

purchase rejection
invoice out

1. Create a new company with your name.


2. Create the following ledgers with opening balance:
liabilities amount assets Amount
capital 275000 furniture 326000
Loan from Indian 122000 Hdfc bank 91000
bank
Profit & loss 32000 cash 12000
429000 429000

3. Placed a purchase order on 1/7/25 to e-world dealers and for the following products
[order no: ewd/ord-00127/2025-26]

4. Following goods are sent against the above order on 2/7/25. Challan no. ewd/ch-
00127/2025-26 and stored in park street godown.
5. On 2/7/25 company rejected 1 pcs of sony 32” led tv (kdl32e720) due to bad picture
quality. [ ref no- ewd/rej-01/2025-26].
6. E- world dealers responds immediately and replaces the rejected goods on the same
date [ref no- ewd/ch-rej002/2025-26] along with the invoice against the goods sent
(inv no- ewd/inv-00127/2025-26).
7. Purchased the following products from telecraft [ref no- tc/inv-00129/2025-26] and
stored in parkstreet godown.
Note: 1pk = 100 pcs

8. On 1/8/25 company return 2 pk dvd-r to telecraft. [ref no: tc/rt-001/2025-26].

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