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Page No 9.34:

Question 1:

On 1st April, 2018, Mohit started business with a capital of ₹ 50,000. He made the following transactions:

2018  
April 03 Purchased goods from Rita on credit for 20,000
April 04 Cash paid to Rita 10,000
April 06 Goods sold to Rohit 25,000
April 08 Received cash from Rohit 20,000
April 12 Goods purchased from Rita  12,000
April 18 Cash paid to Rita 20,000
April 25 Goods sold to Rohit 10,000
April 30 Received cash from Rohit 6,000
You are required to journalise the above transactions and show the respective Ledger accounts.

Answer:

Journal

Date

Particulars

L.F.

Debit

Amount

(Rs)

Credit

Amount

(Rs)

2018

 

 

 

 

 

Apr.01

Cash A/c

Dr.

 

50,000

 

 

     To Capital A/c

 

 

 

50,000

 

(Business started with cash)

 

 

 

 

 

 

 

 

 

 

Apr.03

Purchases A/c

Dr.

 

20,000

 

 

     To Rita

 

 

 

20,000

 

(Goods purchased from Rita on credit)

 

 

 

 

 

 

 

 

 

 

Apr.04

Rita

Dr.

 

10,000

 

 

    To Cash A/c

 

 

 

10,000

 

(Cash paid to Rita)

 

 

 

 

 

 

 

 

 

 

Apr.06

Rohit

Dr.

 

25,000

 

 

    To Sales A/c

 

 

 

25,000

 

(Goods sold to Rohit on credit)

 

 

 

 

 

 

 

 

 

 

Apr.08

Cash A/c

Dr.

 

20,000

 

 

    To Rohit

 

 

 

20,000

 

(Cash received from Rohit)

 

 

 

 

 

 

 

 

 

 

Apr.12

Purchases A/c

Dr.

 

12,000

 

 

     To Rita

 

 

 

12,000

 

(Goods purchased from Rita on credit)

 

 

 

 

 

 

 

 

 

 

Apr.18

Rita

Dr.

 

20,000

 

 

    To Cash A/c

 

 

 

20,000

 

(Cash paid to Rita)

 

 

 

 

 

 

 

 

 

 

Apr.25

Rohit

Dr.

 

10,000

 

 

    To Sales A/c

 

 

 

10,000

 

(Goods Sold to Rohit)

 

 

 

 

 

 

 

 

 

 

Apr.30

Cash A/c

Dr.

 

6,000

 

 

    To Rohit

 

 

 

6,000

 

(Cash received from Rohit)

 

 

 

 

 

 

 

 

 

 

Cash Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2018

 

 

 

2018

 

 

 

Apr.01

Capital A/c

 

50,000

Apr.04

Rita

 

10,000

Apr.08

Rohit

 

20,000

Apr.18

Rita

 

20,000

Apr.30

Rohit

 

6,000

Apr.30

Balance c/d

 

46,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

76,000

 

 

 

76,000

May.01

Balance b/d

 

46,000

 

 

 

 

                   

 

Capital Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2018

 

 

 

2018

 

 

 

Apr.30

Balance c/d

 

50,000

Apr.01

Cash A/c

 

50,000

 

 

 

 

 

 

 

 

 

 

 

50,000

 

 

 

50,000

 

 

 

 

May.01

Balance b/d

 

50,000

                   

 

Purchases Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2018

 

 

 

2018

 

 

 

Apr.03

Rita

 

20,000

Apr.30

Balance c/d

 

32,000

Apr.12

Rita

 

12,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

32,000

 

 

 

32,000

May.01

Balance b/d

 

32,000

 

 

 

 

                   

 

Rita 

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2018

 

 

 

2018

 

 

 

Apr.04

Cash A/c

 

10,000

Apr.03

Purchases A/c

 

20,000

Apr.18

Cash A/c

 

20,000

Apr.12

Purchases A/c

 

12,000

Apr.30

Balance c/d

 

2,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

32,000

 

 

 

32,000

 

 

 

 

May.01

Balance b/d

 

2,000

                   

 

Rohit

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2018

 

 

 

2018

 

 

 

Apr.06

Sales A/c

 

25,000

Apr.08

Cash A/c

 

20,000

Apr.25

Sales A/c

 

10,000

Apr.30

Cash A/c

 

6,000

 

 

 

 

Apr.30

Balance c/d

 

9,000

 

 

 

 

 

 

 

 

 

 

 

35,000

 

 

 

35,000

May.01

Balance b/d

 

9,000

 

 

 

 

                   

 

Sales Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2018

 

 

 

2018

 

 

 

Apr.30

Balance c/d

 

35,000

Apr.06

Rohit

 

25,000

 

 

 

 

Apr.25

Rohit

 

10,000

 

 

 

 

 

 

 

 

 

 

 

35,000

 

 

 

35,000

 

 

 

 

May.01

Balance b/d

 

35,000

 

Page No 9.34:

Question 2:

Suresh, Kanpur commenced business on 1st January, 2018 introducing capital in cash ₹ 1,00,000. His other transactions during the month were as follows:

 

 

 

 

2018  
Jan 1 Started business with cash 1,00,000
Jan 2 Bought goods for cash 20,000
Jan 3 Sold goods for cash 7,000
Jan 15 Sold goods to Shravan, Delhi 6,000
Jan 18 Bought goods on credit from Anurag, Kanpur 60,000
Jan 19 Goods returned to Anurag 5,000
Jan 20 Sold goods for cash 30,000
Jan 22 Paid electricity bill 1,000
Jan 28 Paid for telephone bill 500
Jan 29 Paid rent 800
Jan 31

Paid wages

3000

         
​Enter the above transactions in his books of account

Answer:

Journal
Date
Particulars
L.F.
Debit
Amount
(₹)
Credit
Amount
(₹)
2018
 
 
 
 
 
Jan 01
Cash A/c
Dr.
 
1,00,000
 
 
  To Capital A/c
 
 
 
1,00,000
 
(Started business with cash)
 
 
 
 
 
 
 
 
 
 
Jan 02
Purchases A/c
Dr.
 
20,000
 
 
  To Cash A/c
 
 
 
20,000
 
(Goods purchased)
 
 
 
 
 
 
 
 
 
 
Jan 03
Cash A/c
Dr.
 
7,000
 
 
  To Sales A/c
 
 
 
7,000
 
(Goods sold)
 
 
 
 
 
 
 
 
 
 
Jan 15
Shravan A/c
Dr.
 
6,000
 
 
  To Sales A/c
 
 
 
6,000
 
(Goods sold)
 
 
 
 
 
 
 
 
 
 
Jan 18
Purchases A/c
Dr.
 
50,000
 
 
  To Anurag A/c
 
 
 
50,000
 
(Goods purchased)
 
 
 
 
 
 
 
 
 
 
Jan 19
Anurag A/c
Dr.
 
5,000
 
 
  To Purchases Return A/c
 
 
 
5,000
 
(Goods returned)
 
 
 
 
 
 
 
 
 
 
Jan 20
Cash A/c
Dr.
 
30,000
 
 
  To Sales A/c
 
 
 
30,000
 
(Goods sold)
 
 
 
 
 
 
 
 
 
 
Jan 22
Electricity Expenses A/c
Dr.
 
1,000
 
 
  To Cash A/c
 
 
 
1,000
 
(Paid electricity bill)
 
 
 
 
 
 
 
 
 
 
Jan 28
Telephone Expenses A/c
Dr.
 
500
 
 
  To Cash A/c
 
 
 
500
 
(Paid telephone bill)
 
 
 
 
 
 
 
 
 
 
Jan 29
Rent A/c
Dr.
 
800
 
 
  To Cash A/c
 
 
 
800
 
(Paid rent)
 
 
 
 
 
 
 
 
 
 
Jan 31
Wages A/c
Dr.
 
3,000
 
 
  To Cash A/c
 
 
 
3,000
 
(Paid wages)
 
 
 
 
 
Cash Account
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
Jan 01 Capital A/c  
1,00,000
Jan 02 Purchases A/c  
20,000
Jan 03 Sales A/c  
7,000
Jan 22 Electricity Expenses A/c  
1,000
Jan 20 Sales A/c  
30,000
Jan 28 Telephone Expenses A/c  
500
     
 
Jan 29 Rent A/c  
800
     
 
Jan 31 Wages A/c  
3,000
     
 
Jan 31 Balance c/d  
1,11,700
     
1,37,000
     
1,37,000
               
 
Capital Account
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
Jan 01 Cash A/c  
1,00,000
Jan 31 Balance c/d  
1,00,000
     
 
     
 
     
1,00,000
     
1,00,000
               
 
Purchases Account
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
Jan 02 Cash A/c  
20,000
Jan 31 Balance c/d  
70,000
Jan 18 Anurag A/c  
50,000
     
 
     
 
     
 
     
70,000
     
70,000
               
 
Sales Account
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
Jan 31 Balance c/d  
43,000
Jan 03 Cash A/c  
7,000
     
 
Jan 15 Shravan A/c  
6,000
     
 
Jan 20 Cash A/c  
30,000
     
43,000
     
43,000
               
 
Shravan Account
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
Jan 15 Sales A/c  
6,000
Jan 31 Balance c/d  
6,000
     
 
     
 
     
6,000
     
6,000
               
 
Anurag Account
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
Jan 19 Purchases Return A/c  
5,000
Jan 18 Purchases A/c  
50,000
Jan 31 Balance c/d  
45,000
     
 
     
 
     
 
     
50,000
     
50,000
               
 
Purchases Return Account
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
Jan 31 Balance c/d  
5,000
Jan 19 Anurag A/c  
5,000
     
 
     
 
     
5,000
     
5,000
               
 
Electricity Expenses Account
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
Jan 22 Cash A/c  
1,000
Jan 31 Balance c/d  
1,000
     
 
     
 
     
1,000
     
1,000
               
 
Telephone Expenses Account
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
Jan 28 Cash A/c  
500
Jan 31 Balance c/d  
500
     
 
     
 
     
500
     
500
               
 
Rent Account
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
Jan 29 Cash A/c  
800
Jan 31 Balance c/d  
800
     
 
     
 
     
800
     
800
               
 
Wages Account
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
Jan 31 Cash A/c  
3,000
Jan 31 Balance c/d  
3,000
     
 
     
 
     
3,000
     
3,000
               



Page No 9.35:

Question 3:

Journalise the following transactions in the books of Afzal, Kolkata and post them to the Ledger:

2018  
Jan. 1 Started business with cash* 1,00,000
Jan. 3 Bought goods on credit from Gupta & Co., Delhi 20,000
Jan. 5 Cash sales 5,000
Jan. 8 Cash purchases 8,000
Jan. 10 Sold goods to Ahmed & Co., Lucknow 10,000
Jan. 11 Deposited cash in bank* 50,000
Jan. 13 Purchased a computer for office 20,000
Jan. 15 Took a loan from Mehboob* 70,000
Jan. 16 Goods returned by Ahmed & Co. 2,000
Jan. 17 Purchased furniture from Mehfil Mart, Kolkata 10,000
Jan. 18 Paid interest to Mehboob* 2,000
Jan. 19 Received claim from Ahmed & Co. for defects in goods supplied to them. Claim was accepted and rebate was allowed.* 1,000
Jan. 22 Paid rent by cheque 2,000
Jan. 24 Withdrew from bank* 20,000
Jan. 25 Sales of goods at counter after allowing trade discount of 10% 10,000
Jan. 26 Goods purchased from Gupta & Co., Delhi were destroyed by accident 10,000
Jan. 27 Advertisement expenses paid through bank 5,000
Jan. 28 Ahmed & Co. settled their account by cheque* 7,000
Jan. 29 Paid to Gupta & Co. by cheque* 18,000
  Discount allowed by them* 2,000
Jan. 31 Sold old newspapers 500

Intra-state transactions are subject to levy of CGST and SGST @ 6% each whereas inter-state transactions are subject to levy of IGST @ 12%. Out of the above transactions, transactions marked (*) are not subject to levy of GST.

Answer:

Journal of Afjal, Kolkata
Date
Particulars
 
L.F.
Debit Amount
(₹)
Credit Amount
(₹)
2018
         
Jan.01
Cash A/c
Dr.
 
1,00,000
 
       To Capital A/c      
1,00,000
  (Business started with cash)        
           
Jan.03
Purchases A/c
Dr.
 
20,000
 
  Input IGST A/c
Dr.
 
2,400
 
       To Gupta & Co.      
22,400
  (Goods purchased on credit @ 12% IGST)        
           
Jan.05
Cash 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 for cash @ 6% CGST and SGST)        
           
Jan.08
Purchases
Dr.
 
8,000
 
  Input CGST A/c
Dr.
 
480
 
  Input SGST A/c
Dr.
 
480
 
      To Cash A/c      
8,960
  (Goods purchased for cash @ 6% CGST and SGST)        
           
Jan.10
Ahmed & Co.
Dr.
 
11,200
 
      To Sales A/c      
10,000
      To Output IGST A/c      
1,200
  (Goods sold on credit @ 12% IGST)        
           
Jan.11
Bank A/c
Dr.
 
50,000
 
      To Cash A/c      
50,000
  (Cash deposited into bank)        
           
Jan.13
Computers 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
  (Computers purchased @ 6% CGST and SGST)        
           
Jan.15
Cash A/c
Dr.
 
70,000
 
      To Loan from Mehboob      
70,000
  (Loan taken from Mehboob)        
           
Jan.16
Sales Return A/c
Dr.
 
2,000
 
  Output IGST A/c
Dr.
 
240
 
        To Ahmed & Co.      
2,240
   (Goods returned by Ahmed & Co.)         
           
Jan.17
Furniture A/c
Dr.
 
10,000
 
  Input CGST A/c
Dr.
 
600
 
  Input SGST A/c
Dr.
 
600
11,200
         To Mehfil Mart        
   (Furniture purchased @ 6% CGST and SGST)         
           
Jan.18
Interest on Mehboob Loan A/c
Dr.
 
2,000
 
         To Cash A/c      
2,000
  (Interest on Loan paid)        
           
Jan.19
Insurance Claim A/c
Dr.
 
1,000
 
        To Ahmed & Company      
1,000
  (Insurance Claim due)        
           
Jan.22
Rent A/c
Dr.
 
2,000
 
  Input CGST A/c
Dr.
 
120
 
  Input SGST A/c  
Dr.
 
120
2,240
        To Bank A/c        
  (Rent paid with 6%  CGST and SGST)        
           
Jan.24
Cash A/c
Dr.
 
20,000
 
      To Bank A/c      
20,000
  (Cash withdrawn from bank)        
           
Jan.25
Cash A/c
Dr.
 
10,080
 
       To Sales A/c      
9,000
       To Output CGST A/c      
540
       To Output SGST A/c      
540
  (Goods sold for cash @ 6% CGST and SGST)        
           
Jan.26
Loss by Accident A/c
Dr.
 
11,200
 
      To Purchases A/c      
10,000
      To Input IGST A/c      
1,200
  (Goods lost by accident and IGST reversed )        
           
Jan.27
Advertisement A/c
Dr.
 
5,000
 
  Input CGST A/c
Dr.
 
300
 
  Input SGST A/c   
Dr.
 
300
 
       To Bank A/c      
5,600
  (Advertisement expenses with 6% intrastate GST paid)        
           
Jan.28
Bank A/c
Dr.
 
7,000
 
  Discount Allowed A/c
Dr.
 
960
 
      To Ahmed & Company      
7,960
  (Payment Received in full settlement)        
           
Jan.29
Gupta & Company
Dr.
 
20,000
 
       To Bank A/c      
18,000
       To Discount Received A/c      
2,000
  (Payment made)        
           
Jan.31
Cash A/c
Dr.
 
560
 
      To Sundry Income A/c      
500
      To Output CGST A/c      
30
      To Output SGST A/c      
30
  (Sundry Income received with 6% intra state GST)        
 
Ledger
Cash Account
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
2018    
 
2018    
 
Jan.01 Capital  
1,00,000
Jan.08 Purchases  
8,960
Jan.05 Sales  
5,000
Jan.11 Bank  
50,000
Jan.15 Loan from Mehboob  
70,000
Jan.13 Computer  
22,400
Jan.24 Bank  
20,000
Jan.18 Interest on Mehboob Loan  
2,000
Jan.25 Sales  
10,080
Jan.31 Balance c/d  
1,22,280
Jan.31 Sundry income  
560
     
 
     
 
     
 
     
2,05,640
     
2,05,640
Feb.01 Balance b/d  
1,22,280
     
 
 
Purchases Account
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
2018    
 
2018    
 
Jan.03 Gupta & Company  
20,000
Jan.26 Loss by Accident  
10,000
Jan.08 Cash  
8,000
Jan.31 Balance c/d  
18,000
     
 
     
 
     
28,000
     
28,000
Feb.01 Balance b/d  
18,000
     
 
 
Capital Account
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
2018    
 
2018    
 
Jan.31 Balance c/d  
1,00,000
Jan.01 Cash  
1,00,000
     
 
     
 
     
1,00,000
     
1,00,000
     
 
Feb.01 Balance b/d  
1,00,000
 
Sales Account
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
2018    
 
2018    
 
Jan.31 Balance c/d  
24,000
Jan.05 Cash  
5,000
     
 
Jan.10 Ahmed & Company  
10,000
     
 
Jan.25 Cash  
9,000
     
 
     
 
     
24,000
     
24,000
     
 
Feb.01 Balance b/d  
24,000
 
Gupta & Company
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
2018    
 
2018    
 
Jan.29 Bank  
18,000
Jan.03 Purchases  
20,000
Jan.29 Discount Received  
2,000
Jan.03 Input IGST A/c  
2,400
Jan.29 Balance c/d  
2,400
       
     
22,400
     
22,400
     
 
     
 
 
Ahmed & Company
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
2018    
 
2018    
 
Jan.10 Sales  
10,000
Jan.16
Jan.16
Sales returns
Output IGST A/c
 
2,000
240
Jan.10 Output IGST A/c  
1,200
Jan.19 Insurance claim  
1,000
     
 
Jan.28 Bank  
7,000
     
 
Jan.28 Discount Allowed  
960
     
 
     
 
     
11,200
     
11,200
     
 
     
 
 
Bank Account
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
2018    
 
2018    
 
Jan.11 Cash  
50,000
Jan.22 Rent  
2,240
Jan.28 Ahmed & Company  
7,000
Jan.24 Cash  
20,000
     
 
Jan.27 Advertisement  
5,600
     
 
Jan.29 Gupta & Company  
18,000
     
 
Jan.31 Balance c/d  
11,160
     
 
     
 
     
57,000
     
57,000
Feb.01 Balance b/d  
11,160
     
 
 
Computers Account
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
2018    
 
2018    
 
Jan.13 Cash  
20,000
Jan.31 Balance c/d  
20,000
     
 
     
 
     
20,000
     
20,000
Feb.01 Balance b/d  
20,000
     
 
 
Loan from Mehboob
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
2018    
 
2018    
 
Jan.31 Balance c/d  
70,000
Jan.15 Cash  
70,000
     
 
       
     
70,000
     
70,000
     
 
Feb.01 Balance b/d  
70,000
 
Insurance Claim Account
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
2018    
 
2018    
 
Jan.19 Ahmed & Company  
1,000
Jan.31 Balance c/d  
1,000
     
 
     
 
     
1,000
     
1,000
Feb.01 Balance b/d  
1,000
     
 
 
Rent Account
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
2018    
 
2018    
 
Jan.22 Bank   
2,000
Jan.31 Balance c/d  
2,000
     
 
     
 
     
2,000
     
2,000
Feb.01 Balance b/d  
2,000
     
 
 
Loss by Accident Account
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
2018    
 
2018    
 
Jan.26 Purchases    
10,000
Jan.31 Balance c/d  
11,200
Jan.26 Input IGST A/c  
1,200
     
 
     
11,200
     
11,200
Feb.01 Balance b/d  
11,200
     
 
 
Advertisement Account
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
2018    
 
2018    
 
Jan.27 Bank   
5,000
Jan.31 Balance c/d  
5,000
     
 
     
 
     
5,000
     
5,000
Feb.01 Balance b/d  
5,000
     
 
 
Sales Returns Account
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
2018    
 
2018    
 
Jan.16 Ahmed & Company   
2,000
Jan.31 Balance c/d  
2,000
     
 
     
 
     
2,000
     
2,000
Feb.01 Balance b/d  
2,000
     
 
 
Furniture Account
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
2018    
 
2018    
 
Jan.17 Mehfil Mart   
10,000
Jan.31 Balance c/d  
10,000
     
 
     
 
     
10,000
     
10,000
Feb.01 Balance b/d  
10,000
     
 
 
Mehfil Mart 
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
2018    
 
2018    
 
Jan.31 Balance c/d  
11,200
Jan.17 Furniture  
10,000
     
 
Jan.17
Jan.17
Input CGST A/c
Input SGST A/c
 
600
600
     
11,200
     
11,200
     
 
Feb.01 Balance b/d  
11,200
 
Interest on Mehboob Loan Account
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
2018    
 
2018    
 
Jan.18 Cash A/c  
2,000
Jan.31 Balance c/d  
2,000
     
 
     
 
     
2,000
     
2,000
Feb.01 Balance b/d  
2,000
     
 
 
Discount Allowed Account
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
2018    
 
2018    
 
Jan.28 Ahmed & Company  
960
Jan.31 Balance c/d  
960
     
 
     
 
     
960
     
960
Feb.01 Balance b/d  
960
     
 
 
Discount Received Account
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
2018    
 
2018    
 
Jan.31 Balance c/d  
2,000
Jan.29 Gupta & Company  
2,000
     
 
     
 
     
2,000
     
2,000
     
 
Feb.01 Balance b/d  
2,000
 
Sundry Incomes  Account
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
2018    
 
2018    
 
Jan.31 Balance c/d  
500
Jan.31 Cash  
500
     
 
     
 
     
500
     
500
     
 
Feb.01 Balance b/d  
500

                                                                                    
Input IGST Account
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
2018    
 
2018    
 
Jan.03 Gupta & Co.  
2,400
Jan.26 Loss by Accident  
1,200
Jan.05 Sales  
5,000
Jan.31 Balance c/d   6,200
               
               
             
 
             
 
      7,400      
7,400
Feb.01 Balance b/d   6,200      
 
 
Output IGST Account
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
2018    
 
2018    
 
Jan.16 Ahmed & Co.  
240
Jan.10 Ahmed & Co.  
1,200
Jan.31 Balance c/d   960      
 
     
 
     
 
      1,200      
1,200
Feb.01 Balance b/d   960      
 
 
Input CGST Account
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
2018    
 
2018    
 
Jan.08
Jan.13
Jan.17
Jan. 22
Jan.27
Cash
Cash
Mehfil Mart
Bank
Bank
 
480
1,200
600
120
300
 
Jan.31 Balance c/d   2,700
     
 
     
 
      2,700       2,700
Feb.01 Balance b/d  
2,700
       
 
Output CGST Account
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
2018    
 
2018    
 
Jan.31 Balance c/d  
870
Jan.05 Cash  
300
     
 
Jan.25 Cash  
540
     
 
Jan.31 Cash  
30
     
 
     
 
     
870
     
870
     
 
Feb.01 Balance b/d  
870
 
Input SGST Account
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
2018    
 
2018    
 
Jan.08 Cash  
480
Jan.31 Balance c/d   2,700
Jan.13
Jan.17
Jan.22
Cash
Mehfil Mart
Bank
 
1,200
600
120
       
Jan.27
 
Bank
 
 
300
 
       
      2,700      
2,700
Feb.01 Balance b/d  
2,700
     
 
 
Output SGST Account
Dr.
 
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
2018    
 
2018    
 
Jan.31 Balance c/d   870 Jan.05
Jan.25
Cash
Cash
 
300
540
        Jan.31 Cash  
30
               
     
 
       
     
 
     
 
     
870
     
870
     
 
Feb.01 Balance b/d  
870

Page No 9.35:

Question 4:

Pass Journal entries of M/s. Bhanu Traders, Delhi from the following transactions. Post them to the Ledger:  

 

 

 

 

2018  
April 1 Commenced business with cash* 1,50,000
April 2 Opened a bank account with PNB* 50,000
April 3 Purchased furniture 20,000
April 7 Bought goods for cash from M/s. Rupa Traders, Delhi 30,000
April 8 Purchased goods from M/s. Hema Traders, Chandigarh 42,000
April 10 Cash sales 30,000
April 14 Sold goods on credit to M/s. Gupta Traders, Kolkata 12,000
April 16 Rent paid 4,000
April 18 Paid Electricity expenses* 1,000
April 20 Received cash from Gupta Traders* 12,000
April 22 Goods returned to Hema Traders 2000
April 23 Cash paid to Hema Traders* 40,000
April 25  Bought postage stamps* 100
April 30

Paid salary to Mohan*

4,000

         
Intra-state transactions are subject to levy of CGST and SGST @ 6% each whereas inter-state transactions are subject to levy of IGST @ 12%. Out of the above transactions marked (*) are not subject to levy of GST.

Answer:

Journal
Date
Particulars
L.F.
Debit
Amount
(Rs)
Credit
Amount
(Rs)
2018
 
 
 
 
 
Apr 01
Cash A/c
Dr.
 
1,50,000
 
 
  To Capital A/c
 
 
 
1,50,000
 
(Started business with cash)
 
 
 
 
 
 
 
 
 
 
Apr 02
Bank A/c
Dr.
 
50,000
 
 
  To Cash A/c
 
 
 
50,000
 
(Opened Bank A/c)
 
 
 
 
 
 
 
 
 
 
Apr 03
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
 
(Furniture purchased)
 
 
 
 
 
 
 
 
 
 
Apr 07
Purchases A/c
Dr.
 
30,000
 
 
Input CGST A/c
Dr.
 
1,800
 
 
Input SGST A/c
Dr.
 
1,800
 
 
  To Cash A/c
 
 
 
33,600
 
(Goods purchased)
 
 
 
 
 
 
 
 
 
 
Apr 08
Purchases A/c
Dr.
 
42,000
 
 
Input IGST A/c
Dr.
 
5,040
 
 
  To M/s Hema Traders A/c
 
 
 
47,040
 
(Goods purchased)
 
 
 
 
 
 
 
 
 
 
Apr 10
Cash A/c
Dr.
 
33,600
 
 
  To Sales A/c
 
 
 
30,000
 
  To Output CGST A/c
 
 
 
1,800
 
  To Output SGST A/c
 
 
 
1,800
 
(Goods sold)
 
 
 
 
 
 
 
 
 
 
Apr 14
M/s Gupta Traders A/c
Dr.
 
13,440
 
 
  To Sales A/c
 
 
 
12,000
 
  To Output IGST A/c
 
 
 
1,440