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.