ques 6 april 15

ques 6 april 15 ad Salary • ter.state transactions are subject to levy of 12% and are subject to levy of CGST and SGST @ each• GST is not levied on transaction. marked with 6. Following balances appeared in the books of Ashok, Delhi on April. Assets: Cash e 50.000: Stock 30,000: Debtor—Ram 50.000: Machinery 60.000. Liabilities: Creditor—Rajesh 30,000. The following transactions took place in April, 2018: 2018 Aon' 4 Sold goods for cash . April 6 Goods returned by Ram. Delhi . Agni 10 Purchased goods from Rajesh, Jaipur (Rajasthan) of list price 10,000 tor April '*ought goods at list price of 15,000 from Rakesh, Kolkata less trade discount and 5% cash discount and paid 40% price immediately April 20 : Faid to Rajesh in full settlement of his account' Apri 25 J' Paid for the life insurance premium of the proprietor* April 30 : Received for commission CGST and SGST @ 6% each is levied on intra-state transactions and IGST is levied@ on inter-state transactions. Transactions marked (*) are not subject to levy of GST. Pass Journal entries for the above transactions, post them into the Ledger and prepare [Trial Balance Total—t the Trial Balance on 30th April, 2018. 7. On 1st April, 2018, the following were Ledger balances of M/s. Ram & Co., Delhi: cash in Hand 300; cash at Bank 7,000; Bills Payable 1,000; zahir (Dr.) 4,000; Gobind (Cr.) 2,000; Sharma (Dr.) 1,500; Rahul (Cr.) 900; capital 9,700.

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