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Syllabus
Additional capital introduced as cash Rs 10,000 and delivery van (personal asset) of Rs 50,000
1. Journalise the following transaction in the books of Sahil Khanna, assuming all transactions have occurred within the state of Rajasthan, charging 6% CGST and 6% SGST:
1. Mr. Manveer purchased goods for 3,00,000 locally assuming CGST @9% and SGST@ 9%.
2. sold goods amounting to 1,80,000@5% trade discount and charged CGST@9% and SGST@9%
3. Mr. Manveer gave legal consultation on fees 12,000 and was charged GST (assume CGST@6% and SGST@6%
Q4. Record the following transactions in the books of Sahdev & Sons assuming all transactions have been entered within the state of Bihar, Charging CGST and SGST @ 9% each.
(i) Bought goods from Nanak Bros. for ₹4,00,000 at 10% trade discount and 3% cash discount. 25% of the amount paid at the time of purchase.
have been entered within the state, charging CGST and SGST @ 9% each.
March 4.Purchased goods for Rs. 5,00,000 from Sunil Bros.
7.Goods returned to Sunil Bros. for Rs. 20,000
10.Sold goods to Mehta & Co. for Rs. 8,00,000
12.Goods returned by Mehta & Co. for Rs. 30,000
20.Goods withdrawn by Proprietor for personal use Rs. 10,000
26.Paid advertisement expenses by cheque Rs. 20,000
31.Payment made of balance amount of GST
its installation. On 1st December, 2010, it purchased another machine for ? 30,000.
On 30th June 2011, the first machine purchased on 1st April, 2009, is sold for ? 36,000 and on the same
date it purchased a new machinery for ? 80,000.
On December 1, 2012, the second machine (purchased on December 1, 2010) was also sold off for ?
26,000.
Depreciation was provided on machinery @ 10% p.a. on Original Cost Method annually o 31st March.
Give the machinery account for four years.
How to find the original amount in this entry??
Is ka kya logic hai
Purchased goods for 500000from mr.c traders at 20%trade discount
Sold goods to mr.p for 320000
Received from mr.p a cheque for200000and sent to bank
Purchased furniture for 50000and payment made by cheque
Advertisement charge of 20000paid by cheque
Sold goods 100000 received cheque and sent to bank
Commission of 10000 received in cash
Output GST adjusted against input GST
PARTICULARS 31-03-16 31-03-17
Cash 7000 6500
Motor car 40000 40000
Debtors 31000 42000
Creditors 18000 13000
Bank 6000(CR) 10000
Stock 12000 30000
Mr.sharad withdrew rs 900 per month for domeatic use and brought further capital of rs 12000 during the year.It was decided that-
1.motor car to be depreciated by 10%
2.record outstanding insurance of rs 2000
3.create provision for doughtful debt at 5%
Compute profit earned by the firm during the year.