Question 3: Journalise the following in the books of Amit Saini, Gurugram
(Haryana):
(i)
Goods of ` 5,000, out of goods purchased within the
state, were taken by him for personal use.
(ii) ` 2,000 due from Sohan
were bad debts.
(ii) Goods of ` 6,000 were destroyed by fire and were not
insured. These goods were purchased from outside the state.
(iv) Paid 4,000 in cash as wages on installation of
machine. (GST is not to be levied.)
(v) Sold goods to Arjun of Delhi of list price ` 20,000. Trade discount @ 10% and cash
discount of 5% was allowed. He paid the amount on the same day and availed the
cash discount.
(vi)
Received `2,000 from Ramesh,
whose account was written off as bad debts.
(vii) Goods costing ` 1,000 given as charity. These goods were
purchased from within the state.
(viii) Received `9,750 from Ramesh
in full settlement of his account of ` 10,000.
(ix) Paid rent in advance `4,000.
CGST and SGST is to be levied on intra-state sale @ 6% each and IGST 12%
on inter-state sale.
Answer:
|
JOURNAL OF AMIT SAINI, GURUGRAM (HARYANA) |
|||||
|
Date |
Particulars |
|
L.F. |
Dr. (`) |
Cr. (`) |
|
(i) |
Drawings A/c To
Purchases A/c To Input
CGST A/c To Input
SGST A/c (Being the goods withdrawn for personal use, GST
reversed) |
Dr. |
|
5,600 |
5,000 300 300 |
|
(ii) |
Bad Debts A/c To Sohan (Being the bad debts recorded) |
Dr. |
|
2,000 |
2,000 |
|
(iii) |
Loss of Goods by Fire A/c To
Purchases A/c To Input
IGST A/c (Being the goods lost by fire, IGST reversed) |
Dr. |
|
6,720 |
6,000 720 |
|
(iv) |
Machinery A/c To Cash
A/c (Being the wages for installation of machine paid) |
Dr. |
|
4,000 |
4,000 |
|
(v) |
Cash A/c Discount Allowed A/c To Sales
A/c To Output IGST A/c (Being the inter-state sale of goods for cash) (WN) |
Dr. Dr. |
|
19,152 900 |
18,000 2,052 |
|
(vi ) |
Cash A/c To Bad Debts Recovered A/c (Being the bad debts recovered) |
Dr. |
|
2,000 |
2,000 |
|
(vii) |
Charity A/c To Purchases A/c To Input CGST A/c To Input SGST A/c (Being the goods given as charity, GST reversed) |
Dr. |
|
1,120 |
1,000 60 60 |
|
(viii ) |
Cash A/c Discount Allowed A/c To Ramesh (Being the cash received and discount allowed) |
Dr. Dr. |
|
9,750 250 |
10,000 |
|
(ix) |
Advance Rent A/c Input CGST A/c Input SGST A/c To Cash
A/c (Being the advance rent paid) |
Dr. Dr. Dr. |
|
4,000 240 240 |
4,480 |
Question 4: Journalise the following transactions in the books of
Mohan, Delhi:
(i)
Raj of Alwar, Rajasthan who owed Mohan 25,000 became
insolvent and received 60 paise in a rupee as full
and final settlement.
(ii) Mohan owes to his landlord ` 10,000 as rent. GST
payable @ 6% each.
(iii) Charge depreciation of
10% on furniture costing `50,000.
(iv)
Salaries due to
employees `20,000.
(v) Sold to Sunil goods in
cash of `10,000 less 10% trade discount plus CGST
and SGST @ 6% each and received a net of ` 8,500 plus CGST and SGST.
(vi) Provided interest on
capital of `
1,00,000
@ 10% per annum.
(vii) Goods lost in theft ` 5,000, which were purchased paying IGST @
12% from Alwar, Rajasthan.
Answer:
JOURNAL OF MOHAN, DELHI
|
Date |
Particulars |
L.F. |
Dr. (`) |
Cr. (`) |
|
|
(i) |
Cash
A/c Bad
Debts A/c To Raj (Being
the cash received and bad debts recorded) |
Dr. Dr. |
|
15,000 10,000 |
25,000 |
|
(ii) |
Rent A/c Input
CGST A/c Input
SGST A/c To Outstanding Rent A/c (Being
the outstanding rent) |
Dr. Dr. Dr. |
10,000 600 600 |
11,200 |
|
|
(iii) |
Depreciation
A/c To Furniture A/c (Being
the depreciation charged) |
Dr. |
5,000 |
5,000 |
|
|
(iv) |
Salaries
A/c To Outstanding Salaries A/c (Being
the outstanding salaries to staff) |
Dr. |
20,000 |
20,000 |
|
|
(v) |
Cash
A/c Discount
Allowed A/c To Sales A/c To Output CGST A/c To Output SGST A/c (Being
the goods sold for cash, GST charged) (WN) |
Dr. Dr. |
9,520 500 |
9,000 510 510 |
|
|
(vi) |
Interest
on Capital A/c To Capital A/c (Being
the interest on capital provided) |
Dr. |
10,000 |
10,000 |
|
|
(vii) |
Loss of
Stock by Theft A/c To Purchases A/c To Input IGST A/c (Being
the loss of goods by theft, Input IGST reversed) |
Dr. |
5,600 |
5,000 600 |
|
Click below for more Questions
Ts Grewal Solution 2022-2023
Class 11th
Chapter 12 – Accounting of Goods and Services Tax (GST)
Question No. 1 and 2
Question No. 3 and 4
Question No. 5 and 6
Question No. 7 and 8
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12th TS Grewal’s Accountancy Solutions