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Page No 8.51:

Question 1:

Journal
Without Goods and Services Tax (GST)
Following transactions of Ramesh for April,2018 are given below. Journalise them.

2018
April 1
April 2
April 3
April 4
April 13
April 20
April 24

April 28

April 28
April 30
April 30
April 30

Ramesh started business with cash
Paid into bank
Bought goods for cash
Drew cash from bank for office use
Sold goods to Krishna on credit
Bought goods from Shyam on credit
Received from Krishna
Allowed him discount
Paid cash to Shyam
Discount received 
Krishna returned goods
Cash sales for the month
Paid rent
Paid salary
₹
1,00,000
20,000
50,000
10,000
15,000
22,500
12,500
500
21,500
1,000
2,000
80,000
5,000
10,000

Answer:

Journal
Date
Particulars
L.F.
Debit
Amount
(₹)
Credit
Amount
(₹)
2018
 
 
 
 
 
Apr 01
Cash A/c
Dr.
 
1,00,000
 
 
  To Capital A/c
 
 
 
1,00,000
 
(Started business with cash)
 
 
 
 
 
 
 
 
 
 
Apr 02
Bank A/c
Dr.
 
20,000
 
 
  To Cash A/c
 
 
 
20,000
 
(Paid into bank)
 
 
 
 
 
 
 
 
 
 
Apr 03
Purchases A/c
Dr.
 
50,000
 
 
To Cash A/c
 
 
 
50,000
 
(Goods purchased)
 
 
 
 
 
 
 
 
 
 
Apr 04
Cash A/c
Dr.
 
10,000
 
 
  To Bank A/c
 
 
 
10,000
 
(Drew from bank for office use)
 
 
 
 
 
 
 
 
 
 
Apr 13
Krishna A/c
Dr.
 
15,000
 
 
  To Sales A/c
 
 
 
15,000
 
(Goods sold)
 
 
 
 
 
 
 
 
 
 
Apr 20
Purchases A/c
Dr.
 
22,500
 
 
To Shyam A/c
 
 
 
22,500
 
(Goods purchased on credit)
 
 
 
 
 
 
 
 
 
 
Apr 24
Cash A/c
Dr.
 
12,500
 
 
Discount Allowed A/c
Dr.
 
500
 
 
  To Krishna A/c
 
 
 
13,000
 
(Received from Krishna)
 
 
 
 
 
 
 
 
 
 
Apr 28
Shyam A/c
Dr.
 
22,500
 
 
  To Cash A/c
 
 
 
21,500
 
  To Discount Received A/c
 
 
 
1,000
 
(Paid to Shyam)
 
 
 
 
 
 
 
 
 
 
Apr 28
Sales Return A/c
Dr.
 
2,000
 
 
  To Krishna A/c
 
 
 
2,000
 
(Goods returned by Krishna)
 
 
 
 
 
 
 
 
 
 
Apr 30
Cash A/c
Dr.
 
80,000
 
 
  To Sales
 
 
 
80,000
 
(Cash sales for the month of April)
 
 
 
 
 
 
 
 
 
 
Apr 30
Rent A/c
Dr.
 
5,000
 
 
  To Cash A/c
 
 
 
5,000
 
(Paid rent)
 
 
 
 
 
 
 
 
 
 
Apr 30
Salary A/c
Dr.
 
10,000
 
 
  To Cash A/c
 
 
 
10,000
 
(Paid salary)
 
 
 
 



Page No 8.52:

Question 2:

Journalise the following transactions of Mr. Rahul:

2018   ₹
Jan. 1 Rahul started business with cash  1,00,000
Jan. 2 Paid into bank  60,000
Jan. 3 Bought goods from M/s. Singh & Co. on credit 20,000
Jan. 3 Paid cartage  300
Jan. 4 Purchased furniture 2,000
Jan. 4 Place an order for HP Printers for â‚¹15,000, amount advanced  5,000
Jan. 4 Purchased calculator 1,000
Jan. 4 Purchased computer through cheque 13,000
Jan. 6 Paid for postage 150
Jan. 8  Sold goods for cash 4,000
Jan. 9 Sold goods on credit to M/s. Sharda & Co. 10,000
Jan. 9 Paid cartage 200
Jan. 15 Paid to M/s Singh & Co. on account  17,500
Jan. 25 Sold goods to M/s. Ray & Co. 5,600
Jan. 27 Received cheque from M/s. Sharda & Co. in full settlement of amount due from them 9,750
Jan. 31  Paid for electricity charges  1,000
Jan. 31 Paid salary 1,500
Jan. 31 ​Paid rent of building by cheque , half of the building is used by the proprietor for residential use  5,000
Jan. 31 Drew for private use 3,500

Answer:

Journal

Date

Particulars

L.F.

Debit

Amount

(Rs)

Credit

Amount

(Rs)

2018

 

 

 

 

 

Jan.01

Cash A/c

Dr.

 

1,00,000

 

 

     To Capital A/c

 

 

 

1,00,000

 

(Business started with cash)

 

 

 

 

 

 

 

 

 

 

Jan.02

Bank A/c

Dr.

 

60,000

 

 

    To Cash A/c

 

 

 

60,000

 

(Cash deposited into cash)

 

 

 

 

 

 

 

 

 

 

Jan.03

Purchases A/c

Dr.

 

20,000

 

 

     To M/s Singh & Co.

 

 

 

20,000

 

(Goods purchased)

 

 

 

 

 

 

 

 

 

 

Jan.03

Cartage A/c

Dr.



 

300

 

 

    To Cash A/c

 

 

 

300

 

(Cartage paid)

 

 

 

 

 

 

 

 

 

 

Jan.04

Furniture A/c

Dr.

 

2,000

 

 

    To Bank A/c

 

 

 

2,000

 

(Furniture purchased by cheque)

 

 

 

 

 

 

 

 

 

 

Jan.04

HP Printers A/c

Dr.

 

5,000

 

 

     To Bank A/c

 

 

 

5,000

 

(Advance paid for placing an order for printer)

 

 

 

 

 

 

 

 

 

 

Jan.04

Office Equipments A/c

Dr.

 

1,000

 

 

     To Bank A/c

 

 

 

1,000

 

(Calculator purchased by cheque)

 

 

 

 

 

 

 

 

 

 

Jan.04

Computer A/c

 

 

13,000

 

 

     To Bank A/c

 

 

 

13,000

 

(Computer purchased by cheque)

 

 

 

 

 

 

 

 

 

 

Jan.06

Postage A/c

Dr.

 

150

 

 

    To Cash A/c

 

 

 

150

 

(Postage paid)

 

 

 

 

 

 

 

 

 

 

Jan.08

Cash A/c

Dr.

 

4,000

 

 

    To Sales A/c

 

 

 

4,000

 

(Goods Sold)

 

 

 

 

 

 

 

 

 

 

Jan.09

M/s Sharda & Co.  A/c

Dr.

 

10,000

 

 

    To Sales A/c

 

 

 

10,000

 

(Goods Sold)

 

 

 

 

 

 

 

 

 

 

Jan.09

Cartage A/c

Dr.

 

200

 

 

    To Cash A/c

 

 

 

200

 

(Cartage paid)

 

 

 

 

 

 

 

 

 

 

Jan.15

M/s Singh & Co. A/c

Dr.

 

17,500

 

 

    To Cash A/c

 

 

 

17,500

 

(Payment made)

 

 

 

 

 

 

 

 

 

 

Jan.25

M/s Ray & Co.  A/c

Dr.

 

5,600

 

 

    To Sales A/c

 

 

 

5,600

 

(Goods Sold)

 

 

 

 

 

 

 

 

 

 

Jan.27

Bank A/c

Dr.

 

9,750

 

 

Discount Allowed A/c

Dr.

 

250

 

 

    To M/s Sharda & Co.  A/c

 

 

 

10,000

 

(Payment Received)

 

 

 

 

 

 

 

 

 

 

Jan.31

Electricity Charges A/c

Dr.

 

1,000

 

 

    To Cash A/c

 

 

 

1,000

 

(Electricity Charges paid)

 

 

 

 

 

 

 

 

 

 

Jan.31

Salary A/c

Dr.

 

1,500

 

 

    To Cash A/c

 

 

 

1,500

 

(Salary paid)

 

 

 

 

 

 

 

 

 

 

Jan.31

Rent A/c

Dr.

 

2,500

 

 

Drawings A/c

Dr.

 

2,500

 

 

    To Cash A/c

 

 

 

5,000

 

(Rent paid)

 

 

 

 

 

 

 

 

 

 

Jan.31

Drawings A/c

Dr.

 

3,500

 

 

    To Cash A/c

 

 

 

3,500

 

(Cash withdrawn for personal use)

 

 

 

 

 

 

 

 

 

Page No 8.52:

Question 3:

Journalise the following transactions in the books of M/s. R.K. & Co.:
(i) Purchased goods of list price of ₹ 20,000 from Vishal at 20% trade discount against cheque payment.
(ii) Purchased goods of list price of ₹ 20,000 from Naman at 15% trade discount against cash.
(iii) Purchased goods of list price of ₹ 30,000 from Amrit at 20% trade discount.
(iv) Purchased goods of list price of ₹ 40,000 for â‚¹ 35,000 for cash.
(v) Goods returned of list price ₹ 10,000 purchased from Amrit.
(vi) Sold goods to Parul of list price of ₹ 40,000 at 10% trade discount against cheque payment.
(vii) Sold goods to Aman of list price of ₹ 30,000 at 10% trade discount against cash.
(viii) Sold goods to Pawan of list price of ₹ 20,000 at 10% trade discount.
(ix) Sold goods to Yamini of list price of ₹ 25,000 for ₹ 23,000.
(x) Sold goods costing â‚¹ 10,000 at cost plus 20% less 10% trade discount to Bhupesh.
(xi) Sold goods purchased at list price of ₹ 50,000 less 15% trade discount sold at a profit of 25% less 10% trade discount against cheque.
(xii) Aman returned goods of list price of ₹ 10,000 sold to him at 10% trade discount.

Answer:

Journal

Date

Particulars

L.F.

Debit

Amount

(Rs)

Credit

Amount

(Rs)

 

 

 

 

 

 

(i)

Purchase A/c

Dr.

 

16,000

 

 

    To Bank A/c

 

 

 

16,000

 

(Goods purchased from Vishal by cheque)

 

 

 

 

 

 

 

 

 

 

(ii)

Purchase A/c

Dr.

 

17,000

 

 

    To Cash A/c

 

 

 

17,000

 

(Goods purchased from Naman for cash)

 

 

 

 

 

 

 

 

 

 

(iii)

Purchase A/c

Dr.

 

24,000

 

 

    To Amrit

 

 

 

24,000

 

(Goods purchased from Amrik on credit)

 

 

 

 

 

 

 

 

 

 

(iv)

Purchase A/c

Dr.

 

35,000

 

 

    To Cash A/c

 

 

 

35,000

 

(Goods purchased for cash)

 

 

 

 

 

 

 

 

 

 

(v)

Amrit

Dr.

 

8,000

 

 

   To Purchase Returns A/c

 

 

 

8,000

 

(Goods returned by Amrik)

 

 

 

 

 

 

 

 

 

 

(vi)

Bank A/c

Dr.

 

36,000

 

 

   To Sales A/c

 

 

 

36,000

 

(Goods sold to Parul by cheque)

 

 

 

 

 

 

 

 

 

 

(vii)

Cash A/c

Dr.

 

27,000

 

 

   To Sales A/c

 

 

 

27,000

 

(Goods sold to Aman for cash)

 

 

 

 

 

 

 

 

 

 

(viii)

Pawan

Dr.

 

18,000

 

 

   To Sales A/c

 

 

 

18,000

 

(Goods sold to Pawan on credit)

 

 

 

 

 

 

 

 

 

 

(ix)

Yamini 

Dr.

 

23,000

 

 

   To Sales A/c

 

 

 

23,000

 

(Goods sold to Yamini on credit)

 

 

 

 

 

 

 

 

 

 

(x)

Bhupesh 

Dr.

 

10,800

 

 

   To Sales A/c

 

 

 

10,800

 

(Goods sold to Bhupesh on credit)

 

 

 

 

 

 

 

 

 

 

(xi)

Bank A/c

Dr.

 

47,812.50

 

 

   To Sales A/c

 

 

 

47,812.50

 

(Goods sold against cheque)

 

 

 

 

 

 

 

 

 

 

(xii)

Sales Returns A/c

Dr.

 

9,000

 

 

   To Aman

 

 

 

9,000

 

(Goods returned by Aman )

 

 

 

 

 

 

 

 

 

 

Working Notes:

WN1: Calculation of Sales price

Sales Price = (10,000+20%=12,00010%)=Rs 10,800

WN 2: Calculation of Purchase price and Sales price 

Purchase Price =(50,00015%) Rs 42,500Sales Price =(42,500+25%=53,12510%)=Rs 47,812.5

Page No 8.52:

Question 4:

Journalise the following transactions in the books of Bhushan Agencies:
(i) Received from Bharat cash â‚¹ 20,000, allowed him discount of ₹ 500.
(ii) Received from Vikas ₹ 35,000 by cheque, allowed him discount of ₹ 750.
(iii) Received from Akhil ₹ 38,000 in settlement of his dues of ₹ 40,000 in cash.
(iv) Received from Amrit ₹ 50,000 by cheque on account against dues of ₹ 60,000.
(v) Paid cash ₹ 40,000 to suresh, availed discount of 2%.
(vi) Paid by cheque ₹ 25,000 to Mehar and settled her dues of ₹ 26,000.
(vii) Paid ₹ 25,000 to Yogesh by cheque on account.
(viii) Purchased goods costing ₹ 1,00,000 against cheque and availed discount of 3%.
(ix) Purchased goods costing ₹ 60,000 from Akash & Co., paid 50% immediately availing 3% discount.
(x) Sold goods of ₹ 30,000 against cheque allowing 2% discount.
(xi) Sold goods of ₹ 60,000 to Vimal received 50% of due amount allowing 2% discount.

Answer:

Journal

Date

Particulars

L.F.

Debit

Amount

(Rs)

Credit

Amount

(Rs)

 

 

 

 

 

 

(i)

Cash A/c

Dr.

 

20,000

 

 

Discount Allowed A/c

Dr.

 

500

 

 

     To Bharat

 

 

 

20,500

 

(Payment received from Bharat)

 

 

 

 

 

 

 

 

 

 

(ii)

Bank A/c

Dr.

 

35,000

 

 

Discount Allowed A/c

Dr.

 

750

 

 

     To Vikas

 

 

 

35,750

 

(Payment received from Vikas)

 

 

 

 

 

 

 

 

 

 

(iii)

Cash A/c

Dr.

 

38,000

 

 

Discount Allowed A/c

Dr.

 

2,000

 

 

     To Akhil

 

 

 

40,000

 

(Payment received from Akhil)

 

 

 

 

 

 

 

 

 

 

(iv)

Bank A/c

Dr.

 

50,000

 

 

     To Amrit

 

 

 

50,000

 

(Payment received from Amrit)

 

 

 

 

 

 

 

 

 

 

(v)

Suresh

Dr.

 

40,000

 

 

   To Cash A/c

 

 

 

39,200

 

   To Discount Received A/c

 

 

 

800

 

(Payment made to Suresh)

 

 

 

 

 

 

 

 

 

 

(vi)

Mehar

Dr.

 

26,000

 

 

   To Bank A/c

 

 

 

25,000

 

   To Discount Received A/c

 

 

 

1,000

 

(Payment made to Meher)

 

 

 

 

 

 

 

 

 

 

(vii)

Yogesh

Dr.

 

25,000

 

 

      To Bank A/c

 

 

 

25,000

 

(Payment made to Yogesh)

 

 

 

 

 

 

 

 

 

 

(viii)

Purchases A/c

Dr.

 

97,000

 

 

      To Bank A/c

 

 

 

97,000

 

(Goods bought against cheque)

 

 

 

 

 

 

 

 

 

 

(ix)

Purchases A/c

Dr.

 

60,000

 

 

    To Akash & Co.

 

 

 

30,000

 

    To Cash A/c

 

 

 

29,100

 

    To Discount Received A/c

 

 

 

900

 

(Goods bought from Akash & Co.)

 

 

 

 

 

 

 

 

 

 

(x)

Bank A/c

Dr.

 

29,400

 

 

     To Sales A/c

 

 

 

29,400

 

(Goods sold against cheque)

 

 

 

 

 

 

 

 

 

 

(xi)

Vimal

Dr.

 

30,000

 

 

Cash A/c

Dr.

 

29,400

 

 

Discount Allowed A/c

Dr.

 

600

 

 

     To Sales A/c

 

 

 

60,000

 

(Goods sold to Vimal)

 

 

 

 

 

 

 

 

 



Page No 8.53:

Question 5:

Journalise the following transactions:

     â‚¹
(i) Shyam became insolvent. A first and final compensation of 75 paise in a rupee was received from his Official Receiver. He owed us   10,000
(ii) Received cash for bad debts written off last year. 5,000
(iii) Rent due to landlord. 8,000
(iv) Salaries due to clerks. 10,000
(v) Placed an order with Rakesh Mohan for the supply of goods of the list price of ₹ 1,00,000. In this connection, Raman paid 10% of the list price as an advance by cheque.  

Answer:

Journal

Sr. No.

Particulars

L.F.

Debit

Amount

(Rs)

Credit

Amount

(Rs)

 

 

 

 

 

(i)

Cash A/c

Dr.

 

7,500

 

 

Bad Debts A/c

Dr.

 

2,500

 

 

To Shyam’s A/c

 

 

10,000

 

(Insolvency of Shyam with 75 paisa in a rupee recoverable)

 

 

 

 

 

 

 

 

(ii)

Cash A/c

Dr.

 

5,000

 

 

To Bad Debts Recovered A/c

 

 

5,000

 

(Amount written off as bad debts recovered)

 

 

 

 

 

 

 

 

(iii)

Rent A/c

Dr.

 

8,000

 

 

To Outstanding Rent A/c

 

 

8,000

 

(Rent due to landlord)

 

 

 

 

 

 

 

 

(iv)

Salary A/c

Dr.

 

10,000

 

 

To Outstanding Salary A/c

 

 

10,000

 

(Salary due to clerk)

 

 

 

 

 

 

 

 

(v)

Advance to Rakesh Mohan A/c

Dr.

 

10,000

 

 

To Bank A/c

 

 

10,000

 

(Advance paid to Rakesh Mohan for a future order)

 

 

 

 

 

 

 

 

Page No 8.53:

Question 6:

Journalise the following entries:
(i) Goods worth  â‚¹ 500 given as charity.
(ii) Sold goods to Mayank of  â‚¹ 1,00,000, payable 25% by cheque at the time of sale and balance after 30 days of sale.
(iii) Received  â‚¹ 975 from Harikrishna in full settlement of his account for 1,000.
(iv) Received a first and final dividend of 60 paise in a rupee from the Official Receiver of Rajan, who owed us  â‚¹ 1,000.
(v) Charged depreciation on plant  â‚¹ 1,000.
(vi) Charge interest on Drawings  â‚¹ 1,500.
(vii) Sold goods costing  â‚¹ 40,000 to Anil for cash at a profit of 25% on cost less 20% trade discount and charged 8% Value Added Tax and paid cartage  â‚¹ 100, which is not to be charged from customer.

Answer:

Journal
Sr. No.
Particulars
L.F.
Debit
Amount
(₹)
Credit
Amount
(₹)
(i)
Charity A/c
Dr.
 
500
 
 
To Purchases A/c  
 
500
 
(Goods given as charity)  
 
 
         
(ii) Bank A/c Dr.   25,000  
  Mayank A/c Dr.   75,000  
     To Sales A/c     1,00,000
  (Goods sold partly through cheque and partly through credit)      
 
   
 
 
(iii)
Cash A/c
Dr.
 
975
 
 
Discount Allowed A/c
Dr.
 
25
 
 
To Harikrishna A/c  
 
1,000
 
(Cash received from Harikrishna in full and final settlement)  
 
 
 
   
 
 
(iv)
Cash A/c Dr.  
600
 
 
Bad Debts A/c Dr.  
400
 
 
To Rajan A/c  
 
1,000
 
(First and final dividend received from Rajan in full settlement of his debt)  
 
 
 
   
 
 
(v)
Depreciation A/c Dr.  
1,000
 
 
To Plant A/c  
 
1,000
  (Depreciation charged on Plant)  
 
 
         
(vi) Drawings A/c Dr.   1,500  
     To Interest on Drawings A/c     1,500
  (Interest on drawings charged)      
         
(vii) Cash A/c Dr.   40,000  
      To Sales A/c     40,000
  (Goods sold to Anil at 25% profit on cost and 20% Trade Discount)      
         
  Cartage A/c Dr.   100  
       To Cash A/c     100
  (Cartage paid)      
     
 
 

Page No 8.53:

Question 7:

Journalise the following transactions:
 

(a)

(b)
(c)
(d)
(e)
(f)
(g)
Shyam became insolvent. A first and final compensation of 75 paise in a rupee
 was received from his official receiver. He owed a debt of
 Received cash for a bad debt written off last year
 Rent due to landlord
 Depreciation on office furniture
 Salaries due to staff
 Paid income tax
 Received commission â‚¹ 25,000, half of which is in advance
 
₹
50,000
25,000
40,000
5,000
50,000
1,50,000

 

Answer:

Journal
Date
Particulars
L.F.
Debit
Amount
(₹)
Credit
Amount
(₹)
(a)
Cash A/c
Dr.
 
37,500
 
 
Bad-Debts A/c
Dr.
 
12,500
 
 
  To Shyam A/c
 
 
 
50,000
 
 (75 paise in a rupee received from Shyam)
 
 
 
 
 
 
 
 
 
 
(b)
Cash A/c
Dr.
 
25,000
 
 
To Bad-Debts Recovered A/c
 
 
 
25,000
 
(Received cash against debts written off as bad earlier)
 
 
 
 
 
 
 
 
 
 
(c)
Rent A/c
Dr.
 
40,000
 
 
  To Rent Outstanding A/c
 
 
 
40,000
 
(Rent due)
 
 
 
 
 
 
 
 
 
 
(d)
Depreciation A/c
Dr.
 
5,000
 
 
  To Office Furniture A/c
 
 
 
5,000
 
(Depreciation on office furniture)
 
 
 
 
 
 
 
 
 
 
(e)
Salary A/c
Dr.
 
50,000
 
 
  To Salary Outstanding A/c
 
 
 
50,000
 
(Salary due)
 
 
 
 
 
 
 
 
 
 
(f)
Drawings A/c
Dr.
 
1,50,000
 
 
  To Cash A/c
 
 
 
1,50,000
 
(Paid income tax)
 
 
 
 
 
 
 
 
 
 
(g)
Cash A/c
Dr.
 
25,000
 
 
  To Commission A/c
 
 
 
12,500
 
  To Commission Received in Advance A/c
 
 
 
12,500
 
(Commission received, half of which is advance)
 
 
 
 

Page No 8.53:

Question 8:

With Goods and Services Tax (GST)
Journalise the following transactions of Singh Enterprises, Delhi:
2017
June 1
June 2
June 3
June 4
June 11
June 13
June 17
June 20
June 27 
June 30

Started business with cash
Deposited cheque from Savings Account in firm's account
Received cash from Ram
Purchased goods for cash
Sold goods to M/s. Hari Sales, Delhi
Paid to Ramavtar
Received from M/s. Hari Sales
Bought furniture from S.R. Furnishers against Cash (including CGST and SGST)
Paid rent
Paid salary
₹
50,000
2,00,000
50,000
15,000
12,000
40,000
10,000
22,400
28,000
50,000

CGST and SGST @ 6% each is levied on Intra-state sale and purchase.

Answer:

Journal
Date
Particulars
L.F.
Debit
Amount
(₹)
Credit
Amount
(₹)
2017
 
 
 
 
 
June 01
Cash A/c
Dr.
 
50,000
 
 
  To Capital A/c
 
 
 
50,000
 
(Started business with cash)
 
 
 
 
 
 
 
 
 
 
June 02
Bank A/c
Dr.
 
2,00,000
 
 
  To Capital A/c
 
 
 
2,00,000
 
(Cheque from Savings A/c to Firm’s A/c)
 
 
 
 
 
 
 
 
 
 
June 03
Cash A/c
Dr.
 
50,000
 
 
  To Ram’s A/c
 
 
 
50,000
 
(Received cash)
 
 
 
 
 
 
 
 
 
 
June 04
Purchases A/c
Dr.
 
15,000
 
 
Input CGST A/c
Dr.
 
900
 
 
Input SGST A/c
Dr.
 
900
 
 
  To Cash A/c
 
 
 
16,800
 
(Goods purchased)
 
 
 
 
 
 
 
 
 
 
June 11
M/s Hari A/c
Dr.
 
13,440
 
 
  To Sales A/c
 
 
 
12,000
 
  To Output CGST A/c
 
 
 
720
 
  To Output SGST A/c
 
 
 
720
 
(Goods sold on credit)
 
 
 
 
 
 
 
 
 
 
June 13
Ramavtar’s A/c
Dr.
 
40,000
 
 
  To Cash A/c
 
 
 
40,000
 
(Paid cash to Ramavtar)
 
 
 
 
 
 
 
 
 
 
June 17
Cash A/c
Dr.
 
10,000
 
 
  To M/s Hari A/c
 
 
 
10,000
 
(Received cash from M/s Hari A/c)
 
 
 
 
 
 
 
 
 
 
June 20
Furniture A/c
Dr.
 
20,000
 
 
Input CGST A/c
Dr.
 
1,200
 
 
Input SGST A/c
Dr.
 
1,200
 
 
  To Cash A/c
 
 
 
22,400
 
(Bought furniture for cash)
 
 
 
 
 
 
 
 
 
 
June 27
Rent A/c
Dr.
 
28,000
 
 
  To Cash A/c
 
 
 
28,000
 
(Paid rent)
 
 
 
 
 
 
 
 
 
 
June 30
Salary A/c
Dr.
 
50,000
 
 
  To Cash A/c
 
 
 
50,000
 
(Paid salary)
 
 
 
 



Page No 8.54:

Question 9:

Journalise the following transactions of Rakesh Agencies, Delhi (Proprietor Shri Rakesh):

2018
Jan 1
Jan 2
Jan 5
Jan 7
Jan 10
Jan 15
Jan 20
Jan 25
Jan 27
Jan 28
Jan 31
Jan 31

Rakesh commenced business with cash
Purchased goods for cash
Purchased goods from Mohan, Delhi on credit
Opened bank account with Bank of India
Purchased furniture for office
Sold goods for cash
Sold goods to Ram, Delhi on credit
Cash sales
Paid to Mohan on account
Ram returns goods
Paid Salaries
Rejected and returned 10% of goods supplied by Mohan
₹
50,000
10,000
6,000
10,000
2,000
8,000
5,000
3,500
3,000
500
9,000
 
CGST and SGST is levied @ 6% each on intra-state sale and purchase. IGST is levied @12% on inter-state sale and purchase.

Answer:

Journal
Date
Particulars
L.F.
Debit
Amount
(₹)
Credit
Amount
(₹)
2018
 
 
 
 
 
Jan 01
Cash A/c
Dr.
 
50,000
 
 
  To Capital A/c
 
 
 
50,000
 
(Started business with cash)
 
 
 
 
 
 
 
 
 
 
Jan 02
Purchases A/c
Dr.
 
10,000
 
 
Input CGST A/c
Dr.
 
600
 
 
Input SGST A/c
Dr.
 
600
 
 
  To Cash A/c
 
 
 
11,200
 
(Goods purchased)
 
 
 
 
 
 
 
 
 
 
Jan 05
Purchases A/c
Dr.
 
6,000
 
 
Input CGST A/c
Dr.
 
360
 
 
Input SGST A/c
Dr.
 
360
 
 
  To Mohan A/c
 
 
 
6,720
 
(Goods purchased)
 
 
 
 
 
 
 
 
 
 
Jan 07
Bank A/c
Dr.
 
10,000
 
 
  To Cash A/c
 
 
 
10,000
 
(Opened Bank A/c)
 
 
 
 
 
 
 
 
 
 
Jan 10
Furniture A/c
Dr.
 
2,000
 
 
Input CGST A/c
Dr.
 
120
 
 
Input SGST A/c
Dr.
 
120
 
 
  To Cash A/c
 
 
 
2,240
 
(Furniture purchased)
 
 
 
 
 
 
 
 
 
 
Jan 15
Cash A/c
Dr.
 
8,960
 
 
  To Sales A/c
 
 
 
8,000
 
  To Output CGST A/c
 
 
 
480
 
  To Output SGST A/c
 
 
 
480
 
(Goods sold)
 
 
 
 
 
 
 
 
 
 
Jan 20
Ram A/c
Dr.
 
5,600
 
 
  To Sales A/c
 
 
 
5,000
 
  To Output CGST A/c
 
 
 
300
 
  To Output SGST A/c
 
 
 
300
 
(Goods sold)
 
 
 
 
 
 
 
 
 
 
Jan 25
Cash A/c
Dr.
 
2,800
 
 
  To Sales A/c
 
 
 
2,500
 
  To Output CGST A/c
 
 
 
150
 
  To Output SGST A/c
 
 
 
150
 
(Goods sold)
 
 
 
 
 
 
 
 
 
 
Jan 27
Mohan’s A/c
Dr.
 
3,000
 
 
  To Cash A/c
 
 
 
3,000
 
(Paid to Mohan on account)
 
 
 
 
 
 
 
 
 
 
Jan 28
Sales Return A/c
Dr.
 
500
 
 
Output CGST A/c
Dr.
 
30
 
 
Output SGST A/c
Dr.
 
30
 
 
  To Ram’s A/c
 
 
 
560
 
(Goods returned by Ram)
 
 
 
 
 
 
 
 
 
 
Jan 31
Salary A/c
Dr.
 
9,000
 
 
  To Cash
 
 
 
9,000
 
(Paid salaries)
 
 
 
 
 
 
 
 
 
 
Jan 31
Mohan’s A/c
Dr.
 
672
 
 
  To Purchases Return A/c
 
 
 
600
 
  To Input CGST A/c
 
 
 
36
 
  To Input SGST A/c
 
 
 
36
 
(Returned 10% of the goods supplied by Mohan)
 
 
 
 
 
 
 
 
 
 

Page No 8.54:

Question 10:

Journalise the following transactions of Ram Delhi:
 

2018   ₹
Jan. 1 Ram commenced business with cash 30,000
Jan. 2 Open a bank account with Union Bank by cheque from saving account 21,000
Jan. 3 Purchased goods from Rahul in cash 10,000
Jan. 7 Withdrew cash from bank for office use  3,000
Jan. 10 Sold goods to Hari, Delhi on credit  5,000
Jan. 15 Purchased goods from Shyam, Meerut (UP) 15,000
Jan. 20 Cash sales 3,000
Jan. 25 Paid to Shyam 14,750
  Discount Received 250
Jan. 31 Paid Salaries 10,000

CGST and SGST is levied @ 6% each on intra-state sale and purchase. IGST is levied @12% on inter-state sale and purchase.

Answer:

Journal 

Date

Particulars

L.F.

Debit

Amount

(₹)

Credit

Amount

(₹)

2018

 

 

 

 

Jan.01

Cash A/c

Dr.

 

30,000

 

 

To Capital A/c

 

 

30,000

 

 (Ram commenced business with Cash)

 

 

 

 

 

 

 

 

Jan.02

Bank A/c

Dr.

 

21,000

 

 

To Cash A/c

 

 

21,000

 

(Paid into Bank )

 

 

 

 

 

 

 

 

Jan.03

Purchases A/c
Input CGST A/c
Input SGST A/c

Dr.
Dr.
Dr.

 

10,000
600
600

 

 

To Cash A/c

 

 

11,200

 

 (Purchased goods @ 6% CGST and SGST)

 

 

 

 

 

 

 

 

Jan.07

Cash A/c

Dr.

 

3,000

 

 

To Bank A/c

 

 

3,000

 

 (Drew cash from Bank for office use )

 

 

 

 

 

 

 

 

Jan.10

Hari

Dr.

 

5,600

 

 

To Sales A/c
To Output CGST A/c
To Output SGST A/c

 

 

5,000
300
300

 

(Sold goods to Hari @ 6% CGST and SGST)

 

 

 

 

 

 

 

 

Jan.15

Purchases A/c
Input IGST A/c

Dr.

 

15,000
1,800

 

 

To Shyam

 

 

16,800

 

(Purchased goods from Shyam @ 12% IGST)

 

 

 

 

 

 

 

 

Jan.20

Cash A/c

Dr.

 

3,360

 

 

To Sales A/c
To Output CGST A/c
To Output SGST A/c

 

 

3,000
180
180

 

(Cash Sales)

 

 

 

 

 

 

 

 

Jan.25

Shyam

Dr.

 

15,000

 

 

To Cash A/c

 

 

14,750

 

To Discount Received A/c

 

 

250

 

 (Paid to Shyam and received discount from him)

 

 

 

 

 

 

 

 

Jan.31

Salaries A/c

Dr.

 

10,000

 

 

To Cash A/c

 

 

10,000

 

(Paid Salaries)

 

 

 

 

 

 

 

 

Page No 8.54:

Question 11:

Following transactions of Ramesh Delhi for April, 2018 are given below. Journalise them.
 

2018   ₹
April 1 Ramesh started business with cash  1,00,000
April 1 Deposited cash to open a current account with Bank 70,000
April 3 Bought goods for cash 5,000
April 13 Sold goods to Krishna, Panipat (Haryana) on credit 1,500
April 20 Bought goods from Atul, Karnal on credit 2,250
April 24 Received from Krishna 1,450
  Allowed him discount 50
April 28 Paid cash to Shyam 2,150
  Discount allowed by him 100
April 30 Cash sales for the month 8,000
April 30 Paid rent 500
April 30 Paid salary 10,000

CGST and SGST is levied @ 6% each on intra-state sale and purchase. IGST is levied @12% on inter-state sale and purchase.

Answer:

Books of Ramesh

Journal

Date

Particulars

L.F

Debit

Amount

(₹)

Credit

Amount

(₹)

2018

 

 

 

 

April 01

Cash A/c

Dr.

 

1,00,000

 

 

To Capital A/c

 

 

1,00,000

 

(Ramesh started business with Cash )

 

 

 

 

 

 

 

 

April 02

Bank A/c

Dr.

 

70,000

 

 

To Cash A/c

 

 

70,000

 

(Cash paid into Bank)

 

 

 

 

 

 

 

 

April 03

Purchases A/c
Input CGST A/c
Input SGST A/c

Dr.
Dr.
Dr.

 

5,000
300
300

 

 

To Cash A/c

 

 

5,600

 

(Purchased goods for cash @ 6% CGST and SGST )

 

 

 

 

 

 

 

 

April 13

Krishna

Dr.

 

1,680

 

 

To Sales A/c
To Output IGST A/c

 

 

1,500
180

 

(Sold goods to Krishna on credit @ 12% IGST)

 

 

 

 

 

 

 

 

April 20