UrbanPro
true

Take Class 12 Tuition from the Best Tutors

  • Affordable fees
  • 1-1 or Group class
  • Flexible Timings
  • Verified Tutors

Columns That Are Typically Used In The Purchase Journal.

K
Khushboo B.
03/01/2018 0 0

A Purchase Journal is a record of all acquisitions made on credit during a period. In other words, this is the Journal that keeps track of the orders placed using vendor credit or accounts payable as well as the current balance owed to each vendor.

There are six columns that are typically used in the Purchase Journal:

  1. Date.
  2. Particulars.
  3. Ledger Folio (L.F.).
  4. Invoice No.
  5. Details.
  6. Amount.

The six columns can be explained as follows:

  1. Date: This column is used to write date of a particular purchase or acquisition made on credit.
  2. Particulars: This column is used to record the description as to from whom a particular purchase or acquisition is made on credit.
  3. Ledger Folio (L.F.): A Ledger Folio, often abbreviated in accounting as L.F., is nothing but the page number of an entry in the company’s Ledger.
  4. Invoice No.: This column is used to record Invoice No. of a credit purchase transaction.
  5. Details: This column is used to record details (Trade Discount, Freight, Taxes or Duties etc.) of a credit purchase transaction.
  6. Amount: This column is used to record amount of a credit purchase transaction.
0 Dislike
Follow 2

Please Enter a comment

Submit

Other Lessons for You

Find The Area Of Trapeziam ABCD
Question: Solution: Drop a perpendicular from C to AB 1/2 × 1/2 × 4 ×BC = 8 BC = 8sin 30° = 1/2 = h/ 4h = 2 Area => 1/ 2 × 2 = 14

Solution to a trigonometric problem.
∫ sin‾¹ x dx Let's use integration by parts Let u = sin‾¹ x. ( du = 1/√1 - x² dx ∴ dx = du/√1 - x² ). dv = dx ∴ v = ∫ 1• dx...

Trigonometric Ratio
A ratio is a statement of a mathematical relationship comparing two quantities, often represented as a fraction. If we consider an angle A in a right angled triangle, we can construct various ratios to...

Qualifications and Appointment of Supreme Court Judges in India
The Supreme court Judges in India are appointed by the President on the advice of his Council of Ministers and in consultation with such persons as he deems fit. In the appointment of the Chief Justice,...
D

Cash Flow Statement
Purpose of a statement of cash flows: To provide information about the cash inflows and outflows of an entity during a period. To summarize the operating, investing, and financing activities of the...
X

Looking for Class 12 Tuition Classes?

The best tutors for Class 12 Tuition Classes are on UrbanPro

  • Select the best Tutor
  • Book & Attend a Free Demo
  • Pay and start Learning

Take Class 12 Tuition with the Best Tutors

The best Tutors for Class 12 Tuition Classes are on UrbanPro

This website uses cookies

We use cookies to improve user experience. Choose what cookies you allow us to use. You can read more about our Cookie Policy in our Privacy Policy

Accept All
Decline All

UrbanPro.com is India's largest network of most trusted tutors and institutes. Over 55 lakh students rely on UrbanPro.com, to fulfill their learning requirements across 1,000+ categories. Using UrbanPro.com, parents, and students can compare multiple Tutors and Institutes and choose the one that best suits their requirements. More than 7.5 lakh verified Tutors and Institutes are helping millions of students every day and growing their tutoring business on UrbanPro.com. Whether you are looking for a tutor to learn mathematics, a German language trainer to brush up your German language skills or an institute to upgrade your IT skills, we have got the best selection of Tutors and Training Institutes for you. Read more