General certificate of Education examination General certificate of Education examination General certificate of Education examination
Sugath Liyanage Sugath Liyanage Sugath Liyanage Sugath Liyanage Sugath Liyanage Sugath Liyanage Sugath Liyanage
General certificate of Education examination General certificate of Education examination General certificate of Education examination
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Sugath Liyanage Sugath Liyanage Sugath Liyanage Sugath Liyanage
Sugath Liyanage Sugath Liyanage Sugath Liyanage Sugath Liyanage
Sugath Liyanage Sugath Liyanage
Sugath Liyanage Sugath Liyanage
Sugath Liyanage
Sugath Liyanage
Sugath Liyanage Sugath Liyanage Sugath Liyanage Sugath Liyanage Sugath Liyanage Sugath Liyanage Sugath Liyanage
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Business and Accounting Studies – English Medium
Purchase & Sales Journal
(01) What do you mean by “Purchase Journal”?
(02) Name source document for purchase journal.
(03) What are the transactions recorded in the purchase journal.
Date I/N Description / Supplier LP Amount
(04) Record the following transactions recorded in purchase Journal and ledger accounts.
1/1 Purchased Rs. 25 000 worth of good from Yasiru on credit.
1/10 Purchased Rs. 30 000 worth of goods from Amal on credit.
(05) What do you mean by sales journal
(06) What is the source document related to sales journal?
(07) What are the transactions recorded in the sales journal
Date I/N Description / Purchaser LP Amount
Mix ke;s Commerce 1 Sugath Liyanage
(08) Record following transactions in the sales journal and ledger accounts
1/1 Sold following items to Kamal's business
5 T shirts each at Rs 2000/=
10 Skirts each at Rs 3000/=.
Trade Discount 10%
1/20 Sold goods to Saharan of Rs 50000/=
1/30 Sold following items to Mahinda
10 Lunch boxes each at Rs 1500/=
20 Water bottles each at Rs 2000/=
(09) Following are the Purchase Journal and Sales Journal prepared by a business for the month of May
2017.
Date I/N Supplier L/F Amount
5/10 005 Nalaka 4 800
5/18 1008 Wasana 15 000
Date I/N Purchaser L/F Amount
5/12 326 Madara 6 200
5/26 327 Wimal 3 000
Required:
(a) Completing the above purchase journal and sales journal as at 31st May 2017
(b) Recording the transactions in the above Purchase Journal and Sales Journal into ledger accounts.
(2017 O/L)
(10) Following are a few transactions occurred in Thushara’s retailing business for the month of May 2018.
1. 2018. 05. 03 - Purchasing 20 tea packets from Sameera at Rs. 200 each on credit
(invoice no. 612) 5% trade discount was given.
2. 2018. 05. 05 - Purchasing 20 eggs at Rs. 15 each in cash (Receipt no. 25)
3. 2018. 05. 18 – Purchasing 100 box of matches from Pahan at Rs. 5 each on credit.
4. 2018. 05. 23 - Purchasing a computer table of Rs. 25 000 from Techno Trader on
credit.
Required:
(a) Prepare the purchase journal of Thushar’s business for the month of May 2018.
(b) Post the information in purchase journal to ledger accounts as at 31. 05. 2018
(2018 O/L)
Mix ke;s Commerce 2 Sugath Liyanage
(11) The sales transactions occurred in Narada’s wholesale business during the month of January 2022 are
given below.
2022.01.05 Selling a stock goods to Chamara at Rs. 45 000 on credit (Invoice No. 520)
2022.01.14 Selling a stock of goods at Rs. 60 000 in cash (Receipt No. 428)
2022.01.25 Selling a stock of goods to Nuwan at Rs. 100 000 on credit (Invoice No. 521)
Trade discount 5%
Required:
The followings of Narada’s business for the month of January 2022.
(a) Sales journal
(b) Sales account
(c) The total amount of sales
(2021 O/ L)
(12) The following are purchases on credit of Shan’s business.
Date Invoice No. Supplier Amount (Rs.)
2023.01.03 65 Pubudu 25 000
2023.01.10 123 Asanka 18 000
2023.01.25 135 Saman 12 000
Required:
(a) Recording the above transactions in purchase journal in Shan’s business
(b) Recording the transactions in purchase journal in relevant ledger accounts as at 2023. 01. 31
(2022 O/L)
Mix ke;s Commerce 3 Sugath Liyanage